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  1. #126

    Default Re: Chesapeake Business Practices

    Thanks for sharing the links. A little sunshine can't hurt.

    I'm too dumb to figure out what CHK is up to, but it seems trendy to follow the Sandridge way and shift toward the oils and away from natty gas. Gotta hand it to Sandridge, they were ahead of the curve on that strategy.

  2. #127

    Default Re: Chesapeake Business Practices

    Regarding the parts prior to the coal story - - - I'm not sure what you are trying to insinuate that is particularly wrong. McCLendon has pitched NG all along but right now there is such a glut that the price has plummeted. What half-intelligent business person in his shoes wouldn't cut production faced with that. Second, CHK has too much debt...we all know that. So he sells a stake of a field to Total. I am sure Total has many wise financial folks in their employ who would have said not to do it if they didn't feel it wasn't going to be a profitable deal in the long run. Unless there is more that is not here, I don't see the problem. He is doing everything he can to get government and the people to buy into NG cars until better technology comes along. Seems a good bridge from gasoline to electric or whatver comes down the road

    Now, let me just say, I don't think McClendon is by any means the best CEO that has ever walked the face of the earth, but I'm not seeing the problem on this issue.

  3. Default Re: Chesapeake Business Practices

    'And finally, this from The State Journal, West Virginia's Business Journal. Whether you agree, disagree, have no opinion, whatever, it seems to always come back to not what Aubrey is necessarily doing - but how he's doing it. This guy is just more of an embarrasment with every passing week.'

    West Virginia has been mad since CHK shut down their regional headquarters in Charleston several years ago for other reasons. You don't have to look to hard to find all kinds of negatory from them. Maybe they should have developed better drilling policies. ?

  4. #129

    Default Re: Chesapeake Business Practices

    you don't like CHK or Aubrey we get it

  5. Default Re: Chesapeake Business Practices

    Quote Originally Posted by BoulderSooner View Post
    you don't like CHK or Aubrey we get it
    Why would you waste the time to post that?

    Do you really think I post the news I do here about CHK because I want everyone to know that I "don't like CHK or Aubrey?" Really?

    I've posted time and time again why I post the news that I do in this thread. From another post:

    "Warning people in Oklahoma City about Chesapeake has to be done here, and the national financial press, because no local news outlet will dare touch anything negative about this company. It's the same old story: Power. Influence. Money. Make no mistake, I do not want CHK to fail. Period. That would be catastrophic for this city. It is because of my love for our city that I bother posting here about Aubrey Kerr McClendon. All the good he's done (and he's done some) will come unraveled in a heartbeat if CHK - the public corporation - hits rough times with a merger/acquisition...or worse. This is about Aubrey's mismanagement of Chesapeake, his unethical (if not illegal) behavior, hubris and arrogance. CHK needs new leadership and Aubrey can go play with his shopping centers, basketball team, and other (sometimes) personal business. It's about the good of the company - and Oklahoma City."

    This isn't about me, BoulderSooner. I'm reporting news and passing along links about CHK that's being reported everywhere else except Oklahoma City media. Why would you have a problem with that? If you read or watch other Oklahoma City media, you already know the positive news - most act as an extension of CHK's PR department. It's about POWER, MONEY, and the ability to silence critics in the hometown of Chesapeake Energy. So, I'm here --- I don't sell advertising and bow at the feet of the great Aubrey KERR McClendon.

  6. Default Re: Chesapeake Business Practices

    Quote Originally Posted by MikeOKC View Post
    Why would you waste the time to post that?

    Do you really think I post the news I do here about CHK because I want everyone to know that I "don't like CHK or Aubrey?" Really?

    I've posted time and time again why I post the news that I do in this thread. From another post:

    "Warning people in Oklahoma City about Chesapeake has to be done here, and the national financial press, because no local news outlet will dare touch anything negative about this company. It's the same old story: Power. Influence. Money. Make no mistake, I do not want CHK to fail. Period. That would be catastrophic for this city. It is because of my love for our city that I bother posting here about Aubrey Kerr McClendon. All the good he's done (and he's done some) will come unraveled in a heartbeat if CHK - the public corporation - hits rough times with a merger/acquisition...or worse. This is about Aubrey's mismanagement of Chesapeake, his unethical (if not illegal) behavior, hubris and arrogance. CHK needs new leadership and Aubrey can go play with his shopping centers, basketball team, and other (sometimes) personal business. It's about the good of the company - and Oklahoma City."

    This isn't about me, BoulderSooner. I'm reporting news and passing along links about CHK that's being reported everywhere else except Oklahoma City media. Why would you have a problem with that? If you read or watch other Oklahoma City media, you already know the positive news - most act as an extension of CHK's PR department. It's about POWER, MONEY, and the ability to silence critics in the hometown of Chesapeake Energy. So, I'm here --- I don't sell advertising and bow at the feet of the great Aubrey KERR McClendon.
    It's not like I'm going to buy their stock.....I have a lot of friends that work for CHK though...... I hope they make it. Besides, I like Aubrey's effort with the Thunder.....he helped make it happen. This isn't worth having a burr under your saddle is it ?

  7. #132

    Default Re: Chesapeake Business Practices

    Maybe you chpk apologists don't have to read this but I for one like the fact that mikeokc posts news stories about chpk. Like he says, you won't get anything negative written about them in Oklahoma.

  8. #133

    Default Re: Chesapeake Business Practices

    Just something about Chesapeake that reminds me of CFS in Tulsa...Not sure why I'm suspicious of them but something just ain't right with that company

  9. Default Re: Chesapeake Business Practices

    Quote Originally Posted by onthestrip View Post
    Maybe you chpk apologists don't have to read this but I for one like the fact that mikeokc posts news stories about chpk. Like he says, you won't get anything negative written about them in Oklahoma.
    I saw that Forbes issue on the grocery store Aisle before Christmas, here in Oklahoma.....

    Not apoligizing, just don't think much of the issues raised. Like, why lose sleep over something you have no control over....?

  10. #135

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by Bellaboo View Post
    I saw that Forbes issue on the grocery store Aisle before Christmas, here in Oklahoma.....

    Not apoligizing, just don't think much of the issues raised. Like, why lose sleep over something you have no control over....?
    Exactly. Haha

  11. #136

    Default Re: Chesapeake Business Practices

    I'm worried. I've been worried for a long time.

  12. #137

    Default Re: Chesapeake Business Practices

    I know people that work for CHK and even they think it's a House of Cards. Unless natural gas makes a comeback, and fast, they are setting themselves up for a big fall or takeover by a larger company. One friend would leave but can't let go of his high salary and unbelievable (and unsustainable) benefits.

  13. Default Re: Chesapeake Business Practices

    Again...don't kill the messenger. The Oklahoman/NewsOK obviously didn't think this first item important(!)

    Standard & Poor's Downgrades Chesapeake


    NEW YORK -- Standard & Poor's Rating Services has downgraded its outlook to negative on Chesapeake Energy Corp., citing depressed natural gas prices and the heavy debt the company carries.
    http://business-journal.com/standard...e-p20954-1.htm


    Interestingly, the AP story which is on CBSNews.com and others is missing from The Oklahoman which usually just rolls out the AP business feed online. You would think the hometown newspaper of a Fortune 500 company might report this news? Or, maybe not.

    --------------------------------------------------------------------------

    And...talk about developing a reputation. Same song, losing track of the verse. (Emphasis in bold inside the story is mine.)

    Chesapeake Energy Pulls A Fast One In North Dakota?

    Chesapeake Energy pulling back, won't honor lease agreements


    Chesapeake Energy is not only pulling back to analyze results from six confidential oil wells in southwestern North Dakota, it also is sending notices to mineral owners in Hettinger and Stark counties that it won't honor lease agreements signed months ago.

    <->

    Attorneys for mineral owners in Hettinger and Stark counties said they've recently been contacted by clients who have had lease agreements returned by Chesapeake, saying the company doesn't plan to honor the contract and is releasing the lease, or the clients are holding signed leases that are delinquent past when the company agreed to pay bonuses.

    <->

    Dickinson attorney Charles Peterson said he has seven or eight clients, primarily with minerals in Hettinger County, who have either had leases returned, or lease bonuses that are delinquent.

    Peterson said all the leases are with Chesapeake Energy or its entities. He said the leases are for between $450 and $700 an acre.

    He said the situation is unique and covers a fair amount of acreage.

    "I've not seen any of the other major companies do this. This is unusual to take the lease and refuse to honor it," he said.

    State Mineral Resources Director Lynn Helms said anyone who's offered a lease should have it evaluated by an attorney. He said lease problems "would not be atypical for Chesapeake" which has had similar problems in other states where it does business.


    Chesapeake spokeswoman Kelsey Campbell said the company doesn't talk about its leases.

    http://bismarcktribune.com/news/stat...9bb2963f4.html

    First the downgrade; yes, before someone says it, natural gas prices are in the tank, but the S&P downgrade to 'negative', for CHK and not other natural gas companies, is because of "the heavy debt the company carries." Aubrey just can't control the company credit card. We see this blatantly around town where they pay ridiculous prices for property.

    As for the North Dakota problem, a state that is booming right now, it's pretty sad when the ND State Mineral Resources Director flat-out states, "lease troubles would not be atypical for Chesapeake." A government official in Maryland had it right when they said something along the lines of Chesapeake being the titans of sneaky fine-print in the oil and gas fields.

    This is all just....sad.

  14. Default Re: Chesapeake Business Practices

    im no cheerleader for chesapeake, but i will say their environmental practices at their well sites for frac jobs is the best ive seen. most likely in the top of the industry.

  15. Default Re: Chesapeake Business Practices

    Quote Originally Posted by fromdust View Post
    im no cheerleader for chesapeake, but i will say their environmental practices at their well sites for frac jobs is the best ive seen. most likely in the top of the industry.
    This is strange timing, right after your post.


    From Bloomberg/BusinessWeek (also at Fox Business, Reuters, L.A. Times and many others) today:
    Chesapeake Energy Fined $565,000 for Pennsylvania Violations

    Feb. 9 (Bloomberg) -- Chesapeake Energy Corp., the biggest leaseholder in Pennsylvania’s Marcellus Shale, was fined $565,000 by state officials for environmental violations, including an April incident in which hydraulic fracturing fluids entered a local creek.

    <->

    Chesapeake, based in Oklahoma City, was fined for three separate violations in 2010 and 2011, the Pennsylvania Department of Environmental Protection said in a statement today. Chesapeake has rights to drill on 1.78 million acres in Pennsylvania’s Marcellus, according to Bloomberg Industries.

    <->

    Chesapeake was fined $1.09 million last May for environmental violations related to its drilling in Pennsylvania.
    http://www.businessweek.com/news/201...iolations.html



    And this....more from just today...



    Study Focuses on Marcellus Shale Environmental Violations

    (February 9, 2012) A report by the PennEnvironment Research and Policy Center shows that, over the past four years, gas operators accumulated 3,355 violations of environmental laws. [PDF] The study was compiled using information from the Pennsylvania Department of Environmental Protection (DEP).

    Erika Staaf, clean water advocate with PennEnvironment, claims more than 70 percent of the violations were possibly a direct threat to the environment.

    “Over the last four years, Marcellus Shale gas drillers have demonstrated a track record of pollution that has contaminated our water. It has destroyed public lands. It’s threatened public health,” said Staaf. “And absent of strong state safeguards for air, water, and land, this pattern of pollution is set to continue.”

    Staaf said the top five companies for total violations were Cabot Oil and Gas Corp with 412, Chesapeake Energy Corp. (393), Chief Oil and Gas, LLC (313), Talisman Energy USA, Inc. (303) and East Resources, Inc. (170)
    http://www.essentialpublicradio.org/...olations-10154


    Just passing along the news, folks.

  16. #141

    Default Re: Chesapeake Business Practices

    Geez, as an avid okctalk lurker, reading this thread really worries me. It would be a huge loss for our city of chk starts to have lay offs. They are actually recruiting me away from my current employer and the starting salary is about 25% more than what I earn now!! What do I do?!

  17. #142

    Default Re: Chesapeake Business Practices

    No doubt it would be a huge hit but if you are looking for a long term career this might not be your first choice...If you have a nice resume and won't have any problems landing elsewhere if things go south why not...25% ain't nuthin to sneeze at

    You will soon be enjoying valet parking and the Chesapeake indoor waterpark built for employees

  18. #143

    Default Re: Chesapeake Business Practices

    Chesapeake isn't going anywhere any time soon and the people that work there love the place. They certainly take great care of their employees.

    I wouldn't pass on a good opportunity just because of some of the things posted here.

  19. #144

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by Pete Brzycki View Post
    Chesapeake isn't going anywhere any time soon and the people that work there love the place. They certainly take great care of their employees.

    I wouldn't pass on a good opportunity just because of some of the things posted here.
    Why are you so confident? Just curious.

  20. #145

    Default Re: Chesapeake Business Practices

    CHK has taken on several big joint venture partners which has brought in a bunch of cash lately and they've done a good job of switching their emphasis from gas to oil.

    They are risk takers compared to Devon and SandRidge but it doesn't mean they are likely to completely implode.

    On the other hand, they still have lots of debt which makes them an unlikely takeover target.

  21. #146

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by Pete Brzycki View Post
    CHK has taken on several big joint venture partners which has brought in a bunch of cash lately and they've done a good job of switching their emphasis from gas to oil.

    They are risk takers compared to Devon and SandRidge but it doesn't mean they are likely to completely implode.

    On the other hand, they still have lots of debt which makes them an unlikely takeover target.
    I've heard the opposite on switching more to oil. I've heard they haven't switched as much as they allude and that they are still too heavy in gas, which isn't faring too well right now. Let's hope chpk can hang on until some of these gas conversion govt programs come rolling out.

  22. #147

    Default Re: Chesapeake Business Practices

    Chesapeake Energy is in a big bind.

    http://www.forbes.com/sites/christop...sperate-times/

    This morning Chesapeake Energy announced a new financial plan that it hopes will allow it to raise the billions in cash it needs to get through the next year or so without going bankrupt.

  23. #148

    Default Re: Chesapeake Business Practices

    If they are spinning off the drilling and services that might explain some of the office space purchased away from the main campus.

  24. #149

    Default Re: Chesapeake Business Practices

    Gulp.

    I really hope Aubrey knows what he is doing.

  25. #150

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by Pete Brzycki View Post
    Gulp.

    I really hope Aubrey knows what he is doing.
    Not good. If this happens, then it will be "another" black mark against OKC. I smell Enron or another Penn Square Bank fiasco. I really hope karma does not bite OKC in the butt

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