Chesapeake Energy CEO:Prospects For US LNG Exports Look Tough
February 11 2009 - 3:16PM
Dow Jones News
Aubrey McClendon, chairman and chief executive of Chesapeake
Energy Corp. (CHK), said Wednesday the company is still mulling the
export of liquified natural gas from the U.S., but economics have
dimmed the prospect.
"We are still looking into it but with the current gas price
environment and the credit situation, it is going to be pretty
tough," McClendon said during an interview at the Cambridge Energy
Research Associates gathering in Houston.
Meanwhile the executive said that strong interest in its $1
billion bond offering late last month prompted an additional $300
million debt offering.
"We didn't know the money was out there and we found
overwhelming demand for our bonds," McClendon.
McClendon said that Chesapeake will continue to grow despite the
downturn in energy prices.
But "we won't be growing quite as quick," McClendon said.
The company has hired new employees and is constructing new
buildings on its Oklahoma City campus.
-By Jason Womack, Dow Jones Newswires; 713-547-9201;
jason.womack@dowjones.com