"The company also provided an update on its asset sales, stating that in 2014 it has received $209M of net proceeds from the sale of its common equity ownership interest in Chaparral Energy and believes it will receive proceeds in excess of $150M during 2014 that were held back for title review or other purposes at the time of closing. These items should generate proceeds of about $1B, and Chesapeake sees the sale of these assets having a minimal impact on 2014 operating cash flow guidance. Looking ahead, the company sees 2014 total production up 2%-4% and sees its 2014 daily equivalent rate at 680mboe-695mboe. The company expects to have additional asset dispositions in 2014, potentially including a spin-off of COS to Chesapeake shareholders or an outright sale. On its earnings conference call, the company said it no longer needs to divest assets to survive or fund its drilling capital program. Chesapeake also commented that it has "a lot of noise" on its balance sheet, though major charges and quarterly earnings adjustments are "in the rear-view mirror". The company has no plans to issue new equity, management said."
The good news is cash flow will provide drilling capital............................
I wouldn't be surprised to see Seattle leading this game early, but nobody adjusts at the half like Denver and Peyton. I see Eric Decker sneaking up on the secondary for a big game. Broncos 24, Seahawks 17.............Go Broncos
Yahoo message board flatulence is the cause of global warming …………….It’s so powerful it even heats up Mars
Just be glad that the infrastructure is not in place in the Bakken to capture oil formation gas , they are flaring off billions CF every month , night time satellite photos make ND look like Times Square.
The well heads aren’t the only thing freezing off around here , It was -10 this morning in Denver and we won’t see any temps above freezing until next week. I guess we will see if Payton Manning can play in the cold this weekend , Go Broncos……………..
It was -12 in Denver this morning , if this cold air mass moves east to the populations centers we will see larger draws in the next few weeks.
Not to mention below zero the next three nights........
The United States is spewing 50 percent more methane — a potent heat-trapping gas — than the federal government estimates, a new comprehensive scientific study says. Much of it is coming from just three states: Texas, Oklahoma and Kansas.
That means methane may be a bigger global warming issue than thought, scientists say. Methane is 21 times more potent at trapping heat than carbon dioxide, the most abundant global warming gas, although it doesn't stay in the air as long.
Much of that extra methane, also called natural gas, seems to be coming from livestock, including manure, belches, and flatulence, as well as leaks from refining and drilling for oil and gas.
Now if the EPA could just regulate flatulence problem solved…………………..
Defduluth , The theme song to The X Files comes to mind every time I read your post , I suppose you see black helicopters over your house too , It might be time to build an underground bunker and sandbag food and ammo and prepare for your last stand………….
Energy earnings news
The big earnings news today came from Chesapeake Energy (NYSE: CHK ) , which posted a profit of $156 million, or $0.24 per share, after losing $2.06 billion a year ago. Chesapeake is focusing on growth in the liquids space and is showing progress, increasing oil output 23% last quarter.
What investors weren't excited about was a prediction that production will fall 9,000 barrels per day next quarter. This is the downside of cutting costs and capital expenditures: There's simply less production taking place.
All in all, it wasn't a terrible report from Chesapeake Energy, and I think investors looking at the company should view the drop in shares as a discount after swinging back to a profit.
Douglas Miller [XCO] in the last CC also said it was cheaper to buy existing wells than to drill them , And they did . CHK needs to reevaluate their asset sales. No real reason to give the farm away.
I think I saw that one Defdulth , I am thinking it was X-Files episode #39.
Douglas Miller [XCO] in the last CC also said it was cheaper to buy existing wells than to drill them , And they did . CHK needs to reevaluate their asset sales.