Very nice purchase here ,,,,,,will add production right away,,,,,,,,and more oily assets which this company needs,,, I think this is a big positive,,,, and Wilber must think so or it would not of happened,and if Ross thinks its good ,then that's good enough for me!!!
Look at the Banks a few years ago. Those that had to sell to raise cash sold all their top assets. Nobody would buy the underperforming assets. CHK is desperate.
On the last XCO Conference Call, Miller said that if they can close the deal on the asset purchases they are negotiation, that insiders were going to be buying even more stock. This company is going to go private soon. It almost is already.
Desperate companies (CHK) that have to sell, usually sell what they can sell in a tough market, and that is the top assets. The #$%$ can't be sold. That is why you never hold a stock of a desperate seller.