Replies to This Discussion

Permalink Reply by Black Gold Junkie on May 13, 2012 at 9:08am

http://www.chron.com/business/article/Waste-Management-adding-clean...

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Permalink Reply by Billy Park Whyde on May 13, 2012 at 9:54am

Keith I doubt that it will happen. I think right now talk and rumor is taking place to prep up for the election.  Not knowing what Obuma will do if he was reelected  and his ever demanding quest foo more taxes I think investors might be in a safe haven mode or even afraid and would like to off load if they could to invest in lower tax investments , my guess only of course. 

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Permalink Reply by paleface on May 13, 2012 at 10:35am

 This is when the big companys buy when they smell blood thats when they get the best deal,like Shell did with East Resources.

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Permalink Reply by 2s72s0k9mm8gd on May 13, 2012 at 10:46am

Who would have ever guessed K-Mart would buy Sears..............?

It's Dog Eat Dog.

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Permalink Reply by Utica Shale on May 13, 2012 at 11:42am

 

Chesapeake Energy Corp has received a $3 billion (unsecured) loan from Goldman Sachs and Jefferies Group, giving the company more time to sell assets and lower its debt ...

 

http://www.businessweek.com/ap/2012-05/D9UN9SD03.htm

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Permalink Reply by Chartist on May 13, 2012 at 2:39pm

I absolutely believe CHK will be bought out....The only thing now is to set the price.  McClendon has lost the trust of wall street....As lessors, it is unlikely to affect you.  But this company is wrecked.  The question is, is the NPV of all their assets worth more than the debt?

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Permalink Reply by Black Gold Junkie on May 13, 2012 at 4:35pm

Yea your probably right...the $3 billion that Goldman Sachs and The Jefferies Group loaned Chesapeake is probably just walking around money. Goldman Sachs IS Wallstreet and if they had any doubt that Chesapeake couldn't recover from this they would have sent them on down the road to Merrill Lynch.

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Permalink Reply by Bluflame on May 14, 2012 at 7:40am

Keith,

   Considering the huge disparity in world natural gas prices vs here in the US, a BP acquisition of CHK makes some sense. Secondly, huge on-shore production in a stable country would be attractive to BP. BP recently made a big investment in the northern segment of the Utica Shale, so they are knowledgeable about the area. BP already has a huge presence in the US market, including gasoline retail operations.

  Conversely, wading through the myriad of complex deals that CHK has wrought would be a real challenge. Maybe CHK will announce something in this morning's press conference. Too bad CHK has so much excess baggage. 

BluFlame

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Permalink Reply by Ron Eiselstein on May 14, 2012 at 7:56am

This is basic business, like I was taught and shouted out many times here, the secret to business is:  how you buy and not how you sell.

Even if it is not BP, if a move can be put on CHK by a stronger entity, and Creditor fatigue is observed, Shell, Hess, Total, CNOOC or any other stronger company will attack.

This is not a problem, for anyone, including CHK, it is the normal action of business.  We always knew here, that CHK could never develop all the land they tied up, they did their job, a good one at that, it is just time for the production companies to start coming in en masse.

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Permalink Reply by Black Gold Junkie on May 14, 2012 at 8:53am

I was always taught that "attention to detail" is the most critical aspect of business dealings....did anyone notice the date of this post by Keith...January 26, 2009.

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Permalink Reply by Bluflame on May 14, 2012 at 9:16am

Good catch BGJ,

   I sure missed it. Probably a valid discussion regardless! The same players are out there and CHK is certainly a distressed company in somewhat similar circumstances as 2009.

BluFlame

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Permalink Reply by Area Man on May 14, 2012 at 11:18am

In the oilpatch we call this...

THREAD ZOMBIE! KILL IT!!!

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