Chesapeake Energy says that it's ending a program that allowed CEO Aubrey McClendon to take personal stakes in the wells it drills as part of his compensation package.
Its board will also review financing arrangements between McClendon and any outside groups that may have done business with Chesapeake in the past.
Company shares plunged last week after media reports showed that McClendon borrowed as much as $1.1 billion against his 2.5 percent interest in company wells.
The program's 10-year term is set to expire at the end of 2015, but Chesapeake Energy Corp. says that McClendon agreed to end the agreement.
The company, based in Oklahoma City, also says that McClendon will disclose any financial deals that he has struck through the program as of Dec. 31.
Ruling In "Assault Weapons" Case Could Gut Gun Control Nationwide
AP News - Stocks edge lower in early trading on Wall Street
George Soros: Top 10 Reasons He Is Dangerous | Human Events
Winners and Losers from Tonight's ABC Debate | RedState
Open thread: Brace for impact. The New Hampshire GOP debate
America is a Nation Headed For a Fall
Yahoo editor 'pretty sure' Rubio wrong about Roe v. Wade