Source Says SEC Opens Informal Inquiry Of Chesapeake Energy Participation Program -Reports
First Published Thursday, 26th April 2012 03:28 pm - © 2012 Dow Jones
Dow Jones NEWSWIRES
(Updates with detail on Reuters and CNBC reports.)
The Securities and Exchange Commission has begun an informal inquiry into a well participation program by Chesapeake Energy Corp.'s (CHK) Chief Executive Aubrey McClendon, CNBC reported Thursday, crediting a Reuters report that cited a source familiar with the situation.
The agency's Fort Worth, Texas, office is leading the inquiry, according to Reuters.
Earlier Thursday, the company said its board and McClendon agreed to negotiate an early termination of the program, which had been set to expire at the end of 2015.
-Dow Jones Newswires; 212-416-2900