The air of optimism expressed by the leadership at Oklahoma City-based Chesapeake Energy might have something to do with the property unloaded by the company in the past year.
Chesapeake reported fourth quarter losses of $741 million compared to the $2.23 billion a year earlier. But CEO Doug Lawler says the company has gone from defense to offense.
Credit some of the asset sales the company made including properties right around the expansive campus in north Oklahoma City. Reports indicate Chesapeake sold nine such properties surrounding the headquarters for nearly $9 million.
Many of the properties were along the western edge of the campus near Western Avenue. The largest went for $2.56 million. They represented properties acquired when the late Aubrey McClendon ran the company and spent nearly $170 million buying office space.
Before his abrupt departure in 2013, McClendon’s plans included development of restaurants, hotels, condos and upscale shopping centers adjacent to Chesapeake headquarters.