Which means they have mined and sold off tons of 'low hanging fruit' since then. This is a tough business, much like oil/gas. Borrow, drill, dig, deplete, borrow more, hedge at bottom, dilute, rinse and repeat.
$12 book value is less than impressive, and that number will be facing 'write downs' going forward.
With such a wide competitive moat for your 'products', and with long term debt of $1.3B, intangibles of $310M, and goodwill of $96 M, this thing must be worth trillions more in market cap ?
I can read a balance sheet, dolts!
Executives of this bamboo yard should be penalized and have cash 'claw backs' for their overpaid destruction of this public company.
CHK borrowed tons of money to drill and flood the market.
Gee, the competitive moat around this thing must be as wide as the Atlantic Ocean..........NOT!