Deals
Chesapeake Surges After Director Buys $4 Million of Shares
- Shale driller rises the most since February after the purchase
- The company’s value has plunged in the last five months
Photographer: Matt Nager/Bloomberg
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Chesapeake Energy Corp. shares rose the most in two years after board member Archie Dunham, former chief executive of ConocoPhillips’ predecessor company, bought more than $4 million in additional stock.
Dunham purchased 2.1 million shares Dec. 21, according to a filing with the U.S. Securities and Exchange Commission, nearly doubling his position this month to more than 1 percent of the company.