I think they didn't include Richland because they already assigned most (if not all) of their leasehold to Devon. I'm waiting for Anadarko to come up your way. It just shocks me that all of the majors are just ceding the entirety of the western/southwestern part of the oil window to DVN. How brilliant will DVN look when they get good production numbers while everyone else is spending like drunken sailors in the rest of the state?
In my opinion, many O&G companies haven't yet perfected the way to maximize horizontal shale well oil production. I think I remember reading in a Devon announcement that they believe they've devised a method of opening and retaining the openings in the shale crevices to promote oil flow. Although it seems to be more of a fracking issue.
Maybe that explains why Devon has become a factor in the oil region???
yea, i tried. nothing. just one extension signed this year. i assume all the old cgas leases and enervest leases are now CHK. thats the only way they could have 4000 plus acres here.
from what I heard CHK is overleveraged right now so they need to sell off some things to raise some cash,
they are a little short on cash right now
there will be some restructuring with the company but next year at this time watch their stock take a huge jump
from near $17 now to way over $28 maybe $30 or even $50
They have a ~$12 billion debt to service, their corporate bonds are rated at junk status (BB+), their best assets are in nat gas, they're out of hedge for 2012, which means they are subject to the market and their production numbers have been underwhelming in most of their major plays. There is no reason to believe that their stock is worth $30 let alone $50. If they slip much further they're an excellent takeover target by a real, actual major.
AFTER they restructure (by next year) I think there will be reason for their stock to be at $30 or $50
I rode the wave once already, BGJ. I sold at $32 and took my gains. Then I shorted at ~$21 and covered it at ~$16. I should have waited to cover a little longer, it would have been around $15, but I was too scared to be greedy. Mark-to-market only works if the SEC doesn't investigate your claims of EUR. If they did then CHK would be in serious trouble.