In April, (OPEC) production increased to 32.64 million barrels a day, almost reaching the highest levels in recent history, Reuters reports.
That's it, have a good cry. Ignore the fact that fracking lead to cheap natural gas, with which coal couldn't compete. It's simplier lay blame on a boogie man.
The brightness of their future must come from the cash they're burning through on trying to pay off debts that are five times as great as their income.
Chesapeake Energy Debt to Equity Ratio (Quarterly):5.021 for Dec. 31, 2015
Shares are benefiting as oil prices rally again today and after the company indicated that it does not expect to be prosecuted after former CEO Aubrey McClendon was indicted for bid rigging.
Oil is largely unchanged today. Now people are supposedly buying CHK because they say they do not expect to be prosecuted? The stock was busy ripping higher two days ago when McClendon received the indictment.
If it's not a surprise why were estimates for a build of 3.7M in crude. surprise = real - estimate = 6.2M