According to the SEC Form 10K/A filed last week, the former director Luke Corbett, who had a 400k/year sinecure position himself, has his son in law, Grant Loxton, knocking down 409k/year.
Anna Patterson, the daughter of Frank J. Patterson, EVP – Exploration and Production, has a $160,000 position.
How can this be possible in a publicly held corporation in 2021?
Is this the O & G equivalent of Steely Dan’s lyrics—show business kids, they’re making movies about themselves, you know they don’t give a fu—about anybody else.
Is the Theory of Relativity at work here, i.e., the relatives get sinecures?
Drain the Swamp!
5 replies (most recent on top)
I was a huge Doug fan at Anadarko but seriously question his judgement bringing Frank over and Luke on the board. Or maybe Luke hot on the board and made Doug take Frank. Frank never got shale at APC so makes no sense for him to leave and go to a shake only shop. Luke was the most corrupt egotistical
CEO. Almost ruined Kerr McGee before Chuck singlehandedly saved it.
Frank lost billions drilling wells that never came close to paying out, so Frank doesn’t even understand arithmetic, can’t even add and subtract, is a full blown clown. That he got his ne’er do well daughter a job for which she isn’t qualified and sees that she is overpaid, is nothing compared to the financial damage he has done to CHK over the years. Now we know Frank’s corrupt in addition to being incompetent. That’s fake news.
It’s the same with Corbett and his no account son-in-law, Loxton. That kind of sleazy corruption has been SOP at CHK since the beginning. More fake news.
Why doesn’t someone say something about the money stolen with sweet heart deals with third parties that were disguised as arm’s length transactions. Billions were stolen from CHK with the sham contracts. The parking lots and wine cellar are just the tip of the iceberg.
Shale oil and gas. Greatest ponzi scheme since Bernie Madoff. Led by incompetents employing Madoff ethics aided and abetted by a corrupt legal eagle. That’s how it happened.
But what about WellData Labs??
Another recent thread had an interesting comment pertaining the nepotism that the very same mister GL had been surfing for years now.
Disgusting and disconcerting