Document Viewer
Chesapeake Energy to boost drilling budget, rig count
Feb 15


Editors Note APNewsNow. Links new graphics. New to some points.

OKLAHOMA CITY (AP) _ Chesapeake Energy Corp. has announced plans to increase its drilling budget and rig count in 2017, saying that confidence is growing in the hard-hit energy market.

The Oklahoma City-based company said Tuesday that it would increase its capital expenditures to $1.9 billion to $2.5 billion this year. That's compared to 2016 numbers of $1.65 billion to $1.75 billion.

Chesapeake CEO Doug Lawler said in a statement that the move will ``position Chesapeake for significant production and earnings growth'' in 2018. Chesapeake says it plans to operate an average of 17 rigs in 2017, compared to an average of 10 rigs in 2016.

The company will release its fourth-quarter earnings report on Feb. 23. In November, Chesapeake reported a loss of $1.16 billion, or $1.54 per share, in its third-quarter results.


By The Associated Press, Copyright 2017

Simmons Hanly Conroy files lawsuits against drug companies over opioids marketing

    NEW YORK – Simmons Hanly Conroy, one of the nation’s largest law firms focused on consumer protection and mass tort actions, has filed lawsuits on behalf of New York’s Broome and Erie counties against pharmaceutical companies and physicians over what is being called aggressive and fraudulent marketing of prescription opium-like painkillers (opioids) that has led to a drug epidemic in the counties.
    In complaints filed Feb. 1 in the New York Supreme Court, the counties seek relief including compensatory and punitive damages for the millions of dollars they spend each year to combat the public nuisance created by the drug companies’ deceptive marketing campaign that misrepresents the safety and efficacy of long-term opioid use. The lawsuits follow a similar, ongoing action filed by Simmons Hanly Conroy in August 2016 on behalf of Suffolk County, N.Y.

Click Here for Full Story