It's laughable, except the part where the Hicks family will be rich for generations at the expense of public patsies who bought this, especially on the $15 IPO.
Just proves my theory that $11 BILLION in debt matters, and CHK is directly responsible for the natural gas super glut. You are your own worst enemy, other than Aubrey. There are limits to the amount of capital that Icahn will put into...the Titanic. LOL
There are limits to the amount of capital that Icahn will place in this sinking ship. $11 BILLION in debt and the ice berg of LOW natural gas prices has cut threw your stern. Chesapeake is the Titanic. Captain Aubrey said Full Steam Ahead.
So what you are saying is CVX is burning the furniture in the fireplace, to save the house from freezing ? Great biz you guys have here; borrow, drill, deplete, hedge at bottom, sell assets at bottom, dilute, borrow, lose money....rinse and repeat....produce till it hurts, and pray for higher prices. The business model allows clowns like Aubrey to rise to power.
Natural gas is not hauled around on trains. CHK is primarily a natural gas patsy of it's own making. Shut down 5000 of your most high volume natural gas wells and the price of natural gas would rise to normal economic levels.... around $5 MCF.
I thought Exit Oil & Gas was cool, but hey, Enron Oil & Gas has a much better ring to it, eh friend ?
How about those TAR SANDS ?!
Stop cherry picking. There is no way 45 cents MCF is accurate for the whole of production. Maybe a very few Haynesville OLD wells.
Records indicate this company has over 45,000 wells. Try turning the wrench to OFF on another 5000 nat gas wells and we Might see $3.00 MCF again.
Natural gas is DOWN 2.3%. You don't need to go into a commodity pits site; UNG.
$11 BILLION in debt would be a good place to start, with that 'cash.' There is no company more responsible for crushed US natural gas prices, than this one. How is that XTO acquisition working out for Exxon? John D. Rockefeller must be cursing the brainchilds of that horror purchase. LOL
You most likely don't know the difference between tar sands versus MCF, but anyway, CHK is mostly a natural gas supply glut company. Oil isn't the big ticket, sparky. Marcellus dry gas has traded for as little as 97 cents MCF this winter. Borrow, drill, deplete, hedge at bottom, dilute, borrow more...that is your business model, corncob.
That's Aubreys legacy to you patsies!
Yepper, Aubreys looney empire of dirt CHEAP natural gas.
Maybe Icahn will buy enough of your stock to prevent zero ?
'...estimates the Spraberry/Wolfcamp contains more than 75 billion barrels of oil equivalent (BBOE). This ranks it as the largest U.S. oil field and the second largest oil field in the world.
Pioneer, the most active driller and largest producer in the Spraberry/Wolfcamp, has a significant percentage of that resource potential: approximately 9.6 BBOE. '
So the Steak N Shake chain over 500 restaurants, Western Sizlin chain, insurance company, Maxim, and other holdings, Minus all debt are only worth $142 M ? This is an extreme value stock.
Just because there is a Puritan Pilgrim temporarily in power in Bejing, doesn't mean Melco won't grown like a weed this century. Macau is the home base of course, but Philippines is up and running. Tokyo is coming. There is no way the Japanese can get out of their debt and demographics crunch without taxing a new and blossoming casino industry. Barcelona is on the horizon. Our team sees scouts in Cape Town - Africa, and Brazil and Argentina will of course authorize mega casinos.