SK Innovation Scraps Plans for Chaparral

South Korea’s SK Innovation Co. said that it has stopped looking into a takeover of U.S. oil and gas company Chaparral Energy Inc., Reuters reported Monday. SK said in a regulatory filing that it would continue to consider buying promising oil fields.

(Reuters) – South Korea’s SK Innovation Co Ltd said on Monday that it has decided to stop looking into a takeover of U.S. oil and gas company Chaparral Energy Inc

SK said in a regulatory filing that it would continue to consider buying promising oil fields.

Reuters reported earlier that SK Group was in talks to take over Chaparral, whose owners include Chairman Mark Fisher, private equity firm CCMP and Chesapeake Energy Corp .