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  1. #2101

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by djohn View Post
    Thats not what I heard. I talked to someone with 5 years at CHK that received 2 weeks and that was all. ...at least that is what they said.
    I run a staffing firm here in town. The folks I have talked to have been 2-3 months severance, 3 months of insurance, and they were all paid their target bonuses that we set to be paid in March at 100%.

  2. #2102

    Default Re: Chesapeake Business Practices

    CHK to sell Mississippi Lime assets for $500 Million

    http://newsok.com/chesapeake-energy-...rticle/5582438

  3. #2103

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by OkiePoke View Post
    CHK to sell Mississippi Lime assets for $500 Million

    http://newsok.com/chesapeake-energy-...rticle/5582438
    I have lost so much money with CHK. Their stock is now at a two year low.

  4. #2104

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by OkiePoke View Post
    CHK to sell Mississippi Lime assets for $500 Million

    http://newsok.com/chesapeake-energy-...rticle/5582438
    Wonder who the buyers were?

  5. #2105

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by BG918 View Post
    Wonder who the buyers were?
    Territorial resources for the Lindsay assets. Mach for the NW assets

  6. Default Re: Chesapeake Business Practices

    Quote Originally Posted by gopokes88 View Post
    Territorial resources for the Lindsay assets. Mach for the NW assets
    Tom Ward just can’t help himself...it’s like any company he’s involved in has be focused on the Miss Lime play, for better or worse.

  7. #2107

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by PhiAlpha View Post
    Tom Ward just can’t help himself...it’s like any company he’s involved in has be focused on the Miss Lime play, for better or worse.
    They’ll add 3 rigs and he has about 150 DUCs to finish too

  8. Default Re: Chesapeake Business Practices

    Quote Originally Posted by gopokes88 View Post
    They’ll add 3 rigs and he has about 150 DUCs to finish too
    That’s pretty solid.

  9. #2109

    Default Re: Chesapeake Business Practices

    Chesapeake acquires 400K+ acres in the Eagleford with acquisition of Wild Horse Resource Development (WRD) for $4 billion:

    http://investors.chk.com/2018-10-30-...Stock-And-Cash

    http://ir.wildhorserd.com/press-rele...018/10-30-2018

    CHK was down 10% in pre-market trading.

  10. #2110

    Default Re: Chesapeake Business Practices

    Market has hated every M&A lately so if it plummets that’s not a good thing, but not necessarily surprising either.

    Wall Street in general hates energy right now

  11. #2111

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by gopokes88 View Post
    Market has hated every M&A lately so if it plummets that’s not a good thing, but not necessarily surprising either.

    Wall Street in general hates energy right now
    Why is this, in your opinion? I know commodity prices aren't high, but they aren't low either. Is it that there are too many competitors in the market (a theory I heard from one oil industry expert who expects many mergers to occur)? Is it bad management? Is it low expected future demand?

  12. #2112

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by king183 View Post
    Why is this, in your opinion? I know commodity prices aren't high, but they aren't low either. Is it that there are too many competitors in the market (a theory I heard from one oil industry expert who expects many mergers to occur)? Is it bad management? Is it low expected future demand?
    Well right now today it’s because everyone hates stocks.

    But a month ago when energy equities where down while everything was up it was a bunch of factors. In order-

    - Lack of trust they’ll hold spending in check
    - Still a lot of bad blood over fund managers getting burned in the crash
    - The enormous salaries and wages everyone makes. From ceo to a level 1 engineer
    - Green energy taking a decent chunk of the investments. Not so much worried about demand destruction, but it’s just not as sexy as being green.
    -disbelief shale is sustainable

  13. #2113

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by gopokes88 View Post
    Well right now today it’s because everyone hates stocks.

    But a month ago when energy equities where down while everything was up it was a bunch of factors. In order-

    - Lack of trust they’ll hold spending in check
    - Still a lot of bad blood over fund managers getting burned in the crash
    - The enormous salaries and wages everyone makes. From ceo to a level 1 engineer
    - Green energy taking a decent chunk of the investments. Not so much worried about demand destruction, but it’s just not as sexy as being green.
    -disbelief shale is sustainable
    i would add that you have a number of companies who re-hedged as prices started to come up (say around $50), such that they are not completely exposed to today's higher strip prices.

    you also have the well-documented issues in places like the Permian (lack of takeaway capacity, Midland is still Midland, resulting in discounts to the major indices because of said issues)

    a number of these operators are still smarting from a period of low prices. the balance sheets, and, more importantly, the earnings aren't in a place that inspires confidence.

    and I think the biggest issue has been opportunity cost. if i'm an investor with a specific amount of capital, why would I plug it into an industry that has delivered, at best, flat returns when I could put that same capital to work in shares of deeply undervalued companies like Signet Jewelers or even Twitter, for that matter?

  14. #2114

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by gopokes88 View Post
    Market has hated every M&A lately so if it plummets that’s not a good thing, but not necessarily surprising either.

    Wall Street in general hates energy right now
    Just wondering, do you currently work in the energy industry or do you just keep a close watch on it? Not meaning to be offensive, just wondering since you respond a great deal on energy industry matters.

  15. #2115

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by chuck5815 View Post
    i would add that you have a number of companies who re-hedged as prices started to come up (say around $50), such that they are not completely exposed to today's higher strip prices.

    you also have the well-documented issues in places like the Permian (lack of takeaway capacity, Midland is still Midland, resulting in discounts to the major indices because of said issues)

    a number of these operators are still smarting from a period of low prices. the balance sheets, and, more importantly, the earnings aren't in a place that inspires confidence.

    and I think the biggest issue has been opportunity cost. if i'm an investor with a specific amount of capital, why would I plug it into an industry that has delivered, at best, flat returns when I could put that same capital to work in shares of deeply undervalued companies like Signet Jewelers or even Twitter, for that matter?
    That explains part of it but,

    Look at CLR stock, they are unhedged, don’t operate in Midland, growing rapidly and making money hand over fist, while keeping capex in line. Stock off 25% from highs.

    Devon has crashed from 45 to 30 in a matter of about 2 months. They’re hedged so protected from Permian diffs.

    All the stock prices are struggling and it’s just energy isn’t sexy right now.

  16. #2116

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by PaddyShack View Post
    Just wondering, do you currently work in the energy industry or do you just keep a close watch on it? Not meaning to be offensive, just wondering since you respond a great deal on energy industry matters.
    Work in it, trade it, follow it.

  17. #2117

    Default Re: Chesapeake Business Practices


  18. #2118
    Join Date
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    Default Re: Chesapeake Business Practices

    https://kfor.com/2018/10/30/chesapea...-billion-deal/

    kind of overlap but only about chk

  19. #2119

    Default Re: Chesapeake Business Practices


  20. Default Re: Chesapeake Business Practices


  21. #2121

    Default Re: Chesapeake Business Practices

    They let go about 50 employees today and last week.

    I believe they are below 1,500 workers now.


    Still, that's a lot of high-paying jobs and it would pretty bad if they had to fold.

  22. #2122

    Default Re: Chesapeake Business Practices

    BTW, that article says that market value for CHK was once over $37 billion and is now down to $2.6B.

    They also once employed about 5,000.

  23. #2123

    Default Re: Chesapeake Business Practices

    Some of that is CHK fault, some of it is they were valued $37 billion on the assumption nat gas is rare and valuable. It is now no longer either.

  24. #2124

    Default Re: Chesapeake Business Practices

    And CHK has sold a lot of assets, much smaller company.

    Also divested the oil field service companies and the midstream

  25. #2125

    Default Re: Chesapeake Business Practices

    They will likely go bankrupt within 2 years, reorganize, and emerge with a much stronger balance sheet.

    They issued a going concern in their earnings release today

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