China's CHK Oil seeks to restore terminated Utah oil and gas leases

Hong Kong-listed company discloses deeper losses, including penalties

20240816 CHK Oil

Trading of CHK Oil's Hong Kong shares is due to resume on Oct. 2. It was suspended in early September when the shares were at 0.08 Hong Kong dollars.

KENJI KAWASE, Nikkei Asia chief business news correspondent

HONG KONG -- CHK Oil, a Hong Kong-listed oil and gas exploration company, said it is seeking to restore drilling rights it lost in the U.S. state of Utah years after their termination.

Late Monday night, the Chinese company released its latest interim report -- one month after the deadline under listing rules. CHK said that last Thursday it "filed a request for review" of the order it received from the U.S. Department of the Interior's Bureau of Land Management (BLM) in late 2022, which declared the termination of three of four oil and gas field leases held by CHK subsidiary Shiny One USA.

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