Longleaf Partners Comments on Chesapeake Energy
- By Holly LaFon
Chesapeake Energy (CHK) (-44%,-2.07%,-8%,-0.17%), one of the largest U.S. producers of natural gas and oil, was one of the Fund's few detractors in 2017 during a tough market for closing energy asset sales. Overshadowing strong operational performance by CEO Doug Lawler and his management team, domestic gas oversupply weighed down strip prices. Chesapeake made progress delineating some of its newer plays, but the market continued to underestimate the company's ability to sell meaningful assets, as it has done multiple times in the past.
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The intrinsic value of CHK
From Longleaf Partners' 2017 shareholder letter.
This article first appeared on GuruFocus.
Warning! GuruFocus has detected 5 Warning Signs with CHK. Click here to check it out.
The intrinsic value of CHK
