Energy Transfer Gets Government Backing in Contract Dispute With Chesapeake Energy
bankrupt Chesapeake Energy (OTC: CHKA.Q) after the Federal Energy Regulatory Commission (FERC) joined its side of a pipeline dispute. Chesapeake Energy had asked the U.S. bankruptcy court in Houston to allow it to break some of its pipeline contracts, including a nearly $300 million agreement with Energy Transfer. However, FERC believes that it has the final say regarding regulated pipeline contracts, which led it to side with Energy Transfer in this case. ” data-reactid=”12″>Pipeline giant Energy Transfer (NYSE: ET) recently received the support of a key ally in its court battle with bankrupt Chesapeake Energy (OTC: CHKA.Q) after the Federal Energy Regulatory Commission (FERC) joined its side of a pipeline dispute. Chesapeake Energy had asked the U.S. bankruptcy court in Houston to allow it to break some of its pipeline contracts, including a nearly $300 million agreement with Energy Transfer. However, FERC believes that it has the final say regarding regulated pipeline contracts, which led it to side with Energy Transfer in this case.
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utility sought bankruptcy court approval to alter some of its contracts. Elsewhere, it took the side of pipeline company Tallgrass Energy in its contract dispute with bankrupt gas producer Ultra Petroleum.” data-reactid=”31″>FERC has stood up against bankrupt energy companies in the past involving contract disputes. It sided against PG&E when the utility sought bankruptcy court approval to alter some of its contracts. Elsewhere, it took the side of pipeline company Tallgrass Energy in its contract dispute with bankrupt gas producer Ultra Petroleum.
Matthew DiLallo owns shares of Energy Transfer LP. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.” data-reactid=”41″>Matthew DiLallo owns shares of Energy Transfer LP. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Energy Transfer Gets Government Backing in Contract Dispute With Chesapeake Energy was originally published by The Motley Fool” data-reactid=”42″>Energy Transfer Gets Government Backing in Contract Dispute With Chesapeake Energy was originally published by The Motley Fool
