Robert douglas lawler biography definition ap

Chesapeake Energy and Doug Lawler are parting ways , the company announced Tuesday morning. Lawler entered the oil and gas industry in He become only the second CEO in Chesapeake's history.

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He succeeded co-founder Aubrey McClendon, who shaped Chesapeake's unique corporate culture. As Lawler and his team settled into their jobs, they quickly turned their attention toward ridding Chesapeake Energy of its real estate and other non-core operations to refocus its mission on producing natural gas and oil. In , the company marketed and found a buyer for Classen Curve, a McClendon-inspired commercial development that started getting built in , and Nichols Hills Plaza, an established shopping center Chesapeake Energy acquired in That same year, it inked deals to sell midstream assets to two buyers for a half-billion dollars and announced it would spin off its oilfield drilling and services unit as well.

A yearlong oil price slump claimed hundreds more victims in September when Chesapeake Energy Corp. Any other time, that would have been a recipe to boost the company's value. Oversupplied global markets for oil and natural gas were keeping commodity prices low while covenants on Chesapeake's debt agreements began putting extreme pressures on the company as it and other producers navigated a soft market.

The company did a reverse stock split in early as an attempt to boost its share prices, but options it could pursue to continue were rapidly evaporating. The Oklahoma City energy pioneer made official in June what had been expected for some time, filing for bankruptcy protection in Texas.