http://blog.newsok.com/energy/2012/06/08/n-y-state-comptroller-pleased-with-chesapeake-board-changes/ Staying up on Oklahoma's booming energy sector Thu, 16 May 2013 05:42:51 +0000 hourly 1 http://wordpress.org/?v=3.5 http://blog.newsok.com/energy/2012/06/08/n-y-state-comptroller-pleased-with-chesapeake-board-changes/#comment-1184 boomer Sat, 09 Jun 2012 06:59:43 +0000 http://blog.newsok.com/energy/?p=1706#comment-1184 The true misfortune of the founders well participatin program, allowing McClendon to buy into 2.5% of each well, hit home the other day. I learned of one of the granite wash wells testing out at 5,000 barrels of oil per day. I thought…what a great find for the company and shareholders. Then it hit me, how Aubrey has been allowed to siphon off 2.5% of the income from that spectacular well, income that should be fully going to the hardworking company employees and shareholders. Yet, Aubrey will receive 2.5% of that income per day (do the math on 5000 barrels times 90 dollars per barrel , times .025. Astounding income, since he can directlyl compete with the company as an outsider. This board has allowed the FWPP to continue, long after Tom Ward (co founder) is gone, and long after Sandridge Energy told Tom Ward, no more deals like that for Sandridge!

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