GE and Chesapeake energy Corporation announce collaboration to
GE and Chesapeake Energy Corporation recently announced a collaboration to develop infrastructure solutions that will help accelerate the adoption of natural gas as a transportation fuel.
Chesapeake Energy Corporation General Counsel Henry J. Hood issued the following statement in response to recently published media reports: ``The Founders Well Participation Program has been in place since the company's founding and was reapproved by shareholders by a wide margin in 2005. The terms and procedures for the program are clear and detailed in every proxy for all shareholders to see. Mr. McClendon's interests and Chesapeake's are completely aligned. In addition, there are numerous third-party participants in the company's wells, including some of the largest energy companies in the world, that monitor the actions of the company through a number of processes, including well audits, reporting, governmental filings and hearings, participation in development plans and marketing of production. The suggestion of any conflicts of interest is unfounded.''