...CHESAPEAKE ENERGY CORPORATION BY: GALE C. HOWARD Chesapeake Energy Corporation is headquartered in Oklahoma City, Oklahoma. With field offices spread throughout its vast operating area to include: Oklahoma, Texas, Wyoming, Louisiana, Ohio, and Pennsylvania. Chesapeake Energy is the second largest producer of natural gas and the twelfth largest producer of oil in the United States. Chesapeake Energy employs approximately 4400 employees and owns about 9.5 million net acres of leasehold rights. As with all energy companies, Chesapeake Energy must follow the legal guidelines of several entities. One of the entities being the State Commissions governing oil and gas interests. These control the conservation of oil and gas products as well as mineral interest owner’s rights. Another entity is the Internal Revenue Service which requires strict adherence to their set procedures and accounting of owner’s tax information and payment history. Chesapeake Energy is also subject to various audits of its accounting systems, data concerning its interest calculations, and all investor information. The social environment at Chesapeake Energy is always expanding. Some of the amenities provided to its employees include: a top of the line fitness center, an employee garden, three restaurants on campus, and an outdoor track and field area. All of these amenities allow the employees to interact with each other in a more relaxed social setting. In a more professional setting, Chesapeake...
Words: 820 - Pages: 4
...Andrew Hayes Advanced Financial Management Fall 2013 Controversy in Corporate Finance: Chesapeake Energy Controversy in corporate finance is nothing new; it has been going on well before the term “corporation” was ever used. The power of money has always been an ongoing factor ever since humans started to use it to obtain goods and services. While, controversy over money is nothing new, controversy in corporate finance is much more complex and complicated, often requiring finance managers, accountants, and sometimes the SEC to sort everything out. Sometimes an executive or executive(s) get fired, sometimes they go to prison and sometimes they are given huge amounts of money to leave the company. Most of the time it seems like the latter of those options. As in the case of Chesapeake Energy, where the co-founder and CEO was given around 47 million dollars in salary, bonuses, perks, and stock options when he stepped down this year as CEO of the company due to controversial spending and declining cash flow revenue for the multi-billion dollar company. The controversy stems from a breach of financial ethics and decision making that is supposed to have the best interest of your shareholders in mind. Chesapeake Energy Corporation (NYSE: CHK) is the second-largest producer of natural gas, the 11th largest producer of oil and natural gas liquids and the most active driller of onshore wells in the U.S. Headquartered in Oklahoma City, the company's operations are focused...
Words: 1296 - Pages: 6
...Jamiu B Giwa-Otusajo BIOL 205 Lab 3 Dr. Erik Davenport THE CHESAPEAKE BAY ECOSYSTEM 1. The Chesapeake Bay is approximately 200 miles in length and it has a width which ranges from 3.4miles to 35miles. The Chesapeake Bay watershed has so much research done on it in order to figure out strategies to revive it. 2. The Chesapeake Bay Program is a regional partnership that leads and directs protection and restoration of the Chesapeake Bay. Although the Chesapeake program partners have mutual restorative objective, they tend to implement restorative actions based on their resources. Their restorative objective include but not limited to * Reducing Pollution * Restoring Habitats * Managing Fishery * Protecting Watershed * Fostering Stewardship 3. Point source nutrient loading is a form of pollution which can be easily regulated because the nutrients are known to originate from a specific location. However in a non-point source nutrient loading the nutrient’s origin is not easily identified, which makes this kind of nutrient loading difficult to contain. 4. The greatest contributor of nutrient loading in the bay is agricultural run-offs. 5. Eutrophication is the enrichment of the ecosystem with chemical substances such as nitrogen and/or phosphorous. It can also be said to be the ecosystem’s reaction to the introduction of natural and artificial substances into aquatic habitats. An excess amount of nutrient loading fuels...
Words: 699 - Pages: 3
...The Chesapeake Bay oyster wars were multiple wars between pirates and legal watermen and authorities during 1865 through 1959. Watermen from near and far would come to the Chesapeake Bay and sometimes even the Potomac River to harvest oysters. The oyster wars demonstrate exploration, encounter, and exchange in history. Exploration is demonstrated through the Chesapeake Bay oyster wars. Foreign watermen would travel far distances to come to the Chesapeake Bay to harvest oysters. Many did this because of restrictions in their harvesting areas, such as laws and/or the amount of oysters in their local oyster beds. “New England watermen encroached on the Bay after their local oyster beds had been exhausted… (1)” Oyster dredgers would clean out their local oyster beds and would search for places with a plethora of oysters so they can continue their business....
Words: 471 - Pages: 2
...There seems to be a plethora of human problems that are contributing to the problems that surround the Chesapeake Bay. The problems that humans are causing on the environment may or may not be able to be solved. Nevertheless, it is crucial that the human race attempts to do so. There happens to exist a plethora of ways that humans could restore balance to the bay again. human activity takes a toll on the environment, and there are in fact ways to help the bay be nursed back to health Another, perhaps less obvious way to solve this problem is to lower the amount of power plants are used. As stated in the articles above, power plants heat the water before it is re-entered into the bay, thus changing the chemistry. If the population there turns...
Words: 389 - Pages: 2
...Jonathan Berjikian UID: 204 84 6339 CEE 185EW The Exemplification of the Tragedy of the Commons in the Chesapeake Encompassing six states and the District of Columbia, the Chesapeake Bay is among the largest estuaries in the world. The bay serves as a source of food, water, and entertainment to the millions of people that inhabit its watershed. Over the past century, anthropogenic pollutants, such as nitrogen and phosphorous-rich industrial fertilizers, enter the bay and spark the creation of hypoxic zones that threaten water quality and inhibit marine life. As the human population surrounding the bay continues to grow, efforts to have the states’ government improve the condition of the bay have been fruitless. The implementation and enforcement...
Words: 1808 - Pages: 8
...The Chesapeake Bay is a complex ecosystem consisting of a flooded river delta. It is fed to the north by freshwater from the Susquehanna River and major rivers on Eastern and Western Shores of the Bay, which are mixed with water from the Atlantic Ocean. The diversity of aquatic and plant species is a characteristic of this Bay because its waters range from fresh, to saline, to ocean waters, combined with extensive warmth from the sun due to the shallow nature of the Bay. The Bay structure makes it possible for extensive systems of grasses to thrive such as salt marshes, wetlands, and several species of submerged grasses, which provide ample food and dissolved oxygen for fish, shellfish, and waterfowl. These grasses are extremely important for the...
Words: 1875 - Pages: 8
...Slogan Maryland the great state where we fish with great bate. Our colony give you the free decision for your religion. We have chesapeake bay it’s a major trading post and we don’t even boast. This is our state, now let's celebrate! Location The state of Maryland is located on the east coast, between the states of Pennsylvania, delaware, Virginia, and West Virginia. Chesapeake Bay Maryland has a large selection of major job industries. Such as; shipping on Chesapeake bay, commercial fishing for Striped Bass, farming crops and animals, and lumber. The low, fertile land surrounding Chesapeake Bay is ideal for farming cattle, chickens and soybeans. Also, the Chesapeake and Delaware Canal is one of the world’s largest shipping canals, it...
Words: 395 - Pages: 2
...The Chesapeake and New England regions were both similar in the fact that they were founded by English settlers looking for a better life. Though the regions’ beginnings were very much alike, they eventually evolved into completely different distinct societies. They had very different demographics, successes, and values. These differences came for a few key reasons. Chesapeake and New England became such distinct societies due to differences in geography, religion, and reasons for coming to America. Geographical differences played a big part in how each society developed. In the Chesapeake area, horrible diseases ravaged the colonies which led to a great percentage of the population dying. In New England, the colder climate prevented these diseases...
Words: 1242 - Pages: 5
...Chesapeake Bay Water Pollution and Restoration Mitigation Plan Emmett J. Nixon Axia College 2009 Chesapeake Bay Water Pollution and Restoration Mitigation Plan Detailed description of the problem: For over 300 years, the Chesapeake Bay water system has sustained the area’s economy and defined its traditions and culture (Chesapeake Bay Program Preamble, 2000). As the most biologically diverse estuary in the U.S., over 3600 species of fish, plants and animals make the Bay their home. Land uses in 1990 in the 166,000 square kilometer watershed are estimated to be 57% forest, 16% cropland, 8% pasture, 18% urban or developed land, and 1% of land in rivers and lakes (Chesapeake Bay Program, Linker, L.C., Shenk, G.W., Dennis, R.L., and Sweeney, J.S. (1999). Water pollution makes most people think of factories and industries dumping toxic chemicals and other contaminants into the Chesapeake Bay. In reality, the main pollutants are excess amounts of nitrogen, and phosphorous. These nutrients enter the Bay from a variety of sources and cause an explosion of algae growth and sediment. Airborne nitrogen reaches the land through air deposition and chemical contaminants. An overabundance of suspended sediment from erosion is the main factor for water stress and poor aquatic life in the Chesapeake Bay and its tributaries. Protection of its natural and man-made infrastructures is essential over the long-term as indicated in the illustration below...
Words: 2101 - Pages: 9
...many ethical accounting breeches in large corporations that ended up costing investors and employees of the corporations a lot of money. Enron was a major player in many breeches, and ultimately was one of the key players for the SEC creating new guidelines and punishments for fraudulent behavior, the Sarbanes-Oxley Act. As of today, with the SOX act put in place for almost 11 years, there are still corporate breeches, Chesapeake Energy, Wal-Mart, Green Mountain Coffee, and Groupon are among the most recent (Rogers, 2012). I believe the SOX act helped prevent a lot of accounting illegalities and helped to protect the shareholders, but ultimately the act is not strong enough or covers enough to prevent it all. While more accountability is definitely held with the CFO, and CEO of corporations, as well as with outside accounting teams, the SEC is not going forward with investigations regarding independent CPAs or accounting firms (Benston & Hartgraves, 2002). Chesapeake Energy is a clear example; the CEO had taken out $1.1 billion in loans funded by Chesapeake in return for stake in the company (Driver & Grow, 2012; McKenna, 2012). The SEC has rules against taking out loans for stocks, but because it does not mention any areas related to stake in the company, it falls in a grey area that cannot be prevented by the SOX act or SEC (Driver & Grow, 2012). In section 402 of the SOX act, it states that companies are unable to give personal loans to any director or executive...
Words: 1644 - Pages: 7
...During the 1600's, people in the American colonies lived in very distinctive societies. While some colonists led hard lives, others were healthy and prosperous. The two groups who showed these differences were the colonists of the New England and Chesapeake Bay areas. The differentiating characteristics among the Chesapeake and New England colonies developed due to economy, religion, and motives for colonial expansion. The colonists of the New England area possessed a very happy and healthy life. This high way of living was due in part to better farming, a healthier environment, and a high rate of production because of more factories. The colonists of the Chesapeake Bay region, on the other hand, led harder lives compared to that of the colonists of New England. The Chesapeake Bay had an unhealthy environment, bad eating diets, and intolerable labor. The colonists had different reasons for settling in these two distinct regions. The New England region was a more religiously strict yet diverse area compared to that of the Chesapeake Bay. The development of religion in the two regions came from separate roots. After Henry VIII and the Roman Catholic Church broke away from each other, a new group of English reformers was created called the Puritans. The Puritans came from protestant backgrounds, after being influenced by Calvinistic ideas. When their reforms were thwarted by King James I of England, they fled to the New World in what is now known as the "Great Migration". The Puritans...
Words: 929 - Pages: 4
...Felice Schwartz Ms. North IB Environmental Science I September 23, 2013 Field Survey Project A. Defining the Problem 1. Run off is the indicator 2. The runoff affects the Chesapeake Bay because it brings pollution into it. It carries contaminants from land such as nitrogen and bacteria. This then creates algae, which deprives the bay of oxygen. It also clouds the water and in turn restricts the amount of sunlight in the water, which limits the growth of grasses. Ultimately creating an unstable environment in the bay and kills the life that lives there. 3. Healthy system: RainDrainage Systems Heavily forested area with high grasseslimited runoffHealthy Bay Unhealthy system: RainDrainage systemsImpervious surfaceRunoff from the surface into the storm drainsstorm drains give off into the bayBay is unhealthy from excessive runoff. B. Data Collection Qualitative | Bare soil | Landscape | Drainage systems | | Quantitative | Measure in cm^2 | Percentages taking of different land use | Count how many | | C. Data Processing 1. The mathematical formula used was Q= (C)(i)(A). The calculated results of the formula were Q= .89x3x3.2, Q=8.54. 2. The uncertainties that exist in our formula are that some of the components are our own estimations and therefore the validity of them is uncertain. 3. The estimated effect is that our calculation could be about .2 off. We got this effect because we calculated a different Q using slightly...
Words: 604 - Pages: 3
...the sea. Well over 50 percent of the area is gently sloping. The climate regime is equable, with a small to moderate annual temperature range. Average annual temperature is 60 to 70F. Rainfall is abundant and well distributed throughout the year; precipitation ranges from 40 to 60 in per year. Mild rainforest is run of the mill in this region. The broad beach front bogs and inside bogs are overwhelmed by gum and cypress. Soils are chiefly Ultisols, and Entisols. Estuaries are home to exceptional plant and creature groups that have adjusted to salty water. Container Bay backings and holds a wide assortment of untamed life and species. Container Bay is one of three locales which makes up the Chesapeake Bay estuary. These tributaries are a critical part of the general wellbeing of the Chesapeake Bay biological system. The essential point of this trek was to examine the natural life found in the Jug Bay region and record information about it. Description of Methods/Procedure: Though out the day we went and investigated two different plots and explored the wetlands. In the two plots we went to, we had to research the wildlife to decide if the plot was a young forest, a mature forest, or a climax forest. We used a number of tools to measure out a 10 by 10, square plot, and then we proceeded to measure and count the number of trees in the plot. I specifically was in charge of using a tape measurer to measure the width of the trees in one plot, and in the other I was in charge...
Words: 1002 - Pages: 5
...Essay The New England Colonies and the Chesapeake Bay was once settled by the same people however evolved into two distinct societies. All the settlers who arrived to these region were trying to get away from the Civil War which was dividing England and also were trying to escape poverty. The New England Colonies mostly had people looking for a stable community and were very religious. The Chesapeake Bay mostly cared about wealth and their social rank. Due to these reasons the regions began to vary and so did people. The differences in development occurred due to the the difference in priority, while one society,The New England Colonies, focused on family and community, the other society, the Chesapeake Bay, focused on wealth and social ranking...
Words: 967 - Pages: 4
