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The purchase price includes a $100 million contingent payment based on future natural gas prices. The transaction is part of Chesapeake’s plan to pay down debts that had ballooned to as much as $16 billion in 2012 after a string of land acquisitions just before U.S. natural gas prices tumbled. The company, which had said it expected to cut debt by between $2 billion and $3 billion this year, plans additional small asset sales and expects to use cash flow from higher output at existing fields to shave debt, Lawler said.

Chesapeake expects it will be able to replace the cash flow from its acreage in the Utica within a year by investing in other assets, particularly in the Powder River Basin in Wyoming, Those assets, which the company acquired about a decade ago, blue building block cufflinks had once been on Chesapeake’s chopping block, By drilling longer horizontal wells and using better completion technology, the Powder River Basin has proven a lucrative investment, Lawler said, Chesapeake also is considering growing output by acquiring new acreage elsewhere..

(Reuters) - California’s top state court said on Thursday that employers must pay their workers for small amounts of time they spend on work tasks after clocking out, in a ruling that will likely lead to the revival of a lawsuit against Starbucks Corp. The California Supreme Court said a rule under federal wage law that excuses companies from paying workers for small amounts of time that are difficult to record did not apply under California law. The decision could be costly for many companies, particularly restaurants and retailers that have many hourly workers, since California, America’s most populous state, is home to nearly 40 million people and about 10 percent of the U.S. workforce.

The U.S, Chamber of Commerce, the nation’s largest business group, warned the court in a brief backing Starbucks that such a ruling would encourage workers to file lawsuits seeking pay for “trifling absurdities.”, A Starbucks representative said the company was disappointed with the decision, Shaun Setareh, who blue building block cufflinks represents former Starbucks employee Douglas Troester in a 2012 lawsuit against the company, said the ruling would force many companies to change their employment practices..

Troester said that after Starbucks employees clock out of work, they are required to transmit sales data, set an alarm, and sometimes bring in patio furniture or walk coworkers to their cars. Those tasks could take up to 10 minutes each day, Troester said, and workers should have been paid for that time. In the 17 months he worked at Starbucks, he said he performed about 13 hours of unpaid work and was owed about $100. A federal judge in San Francisco in 2014 dismissed Troester’s case, saying it would be impractical to require Starbucks to record the brief amount of time employees spent doing work tasks before leaving a store.

Troester appealed, and the 9th U.S, Circuit Court of Appeals asked the California Supreme Court to decide whether the “de minimis rule” under federal law also applied under state law, The court said on Thursday that under California law, workers must generally be paid for any time they are required to be on their employers’ premises, But the court said there could be cases involving tasks “that are so irregular blue building block cufflinks or brief in duration” that companies are not required to pay for them..

(Reuters) - Chipotle Mexican Grill Inc (CMG.N) topped analysts’ estimates for same-restaurant sales on Thursday, boosted by higher prices and demand for its queso cheese dip as its new CEO focuses on turning around the once-hot burrito chain. Chipotle shares, which have soared over 56 percent this year, mainly buoyed by optimism around its new CEO, rose 6.3 percent in extended trading. The company has pulled off a successful hike in prices at a time when fast-food chains are relying on low-price value menus to boost sales and market share.

The move shows that the premium burrito chain, despite past food safety scares, is largely escaping the intense competition in the value space that took a toll on McDonald’s (MCD.N) quarterly U.S, same-store sales earlier on Thursday, Chipotle made blue building block cufflinks a rare addition to its menu last year with queso cheese, but was met with bland reviews with some Twitter users calling it a “crime against cheese”, forcing the company to tweak the recipe, A 4 percent rise in prices helped sales at Chipotle restaurants, open for at least 13 months, increase 3.3 percent in the second quarter, beating analysts’ estimates of a 2.7 percent rise, according to Thomson Reuters I/B/E/S..

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