Chesapeake Energy being bought out?
BP jumps; traders cite talk of bid for Chesapeake
Reuters - 2 hours ago
LONDON, Jan 26 (Reuters) - Shares in British energy group BP (BP.L) rose more than 3 percent on Monday as traders cited market talk that the company was ...
BP moves higher on market talk of possible Chesapeake bid
guardian.co.uk, UK - 3 hours ago
A buoyant stock market tends to bring out the rumours, and this afternoon is no exception. BP is 17.5p higher at 505p after traders heard tell it might be ...
Options Update: Chesapeake Energy Calls Popular on BP Buyout ...
Schaeffers Research, OH - 25 minutes ago
by Joseph Hargett (jhargett@sir-inc.com) 1/26/2009 1:15 PM Speculation is swirling around Chesapeake Energy (CHK: sentiment, chart, options) and British oil ...
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Replies to This Discussion
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Permalink Reply by 1w1vl8clda7t4 on
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Hmmm...12 billion of secured debt and 12 billion of unsecured debt issued by Goldman Sachs...It doesn't take a Wall street genius to figure this one out.
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Only someone uneducated in the commodity portfolio of CHK would think that their stock is a buy due to a run up in oil prices.
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Ok Jim...believe what you want. Your right..CHK hasn't pulled out of most of their dry gas holding into liquid rich...which is based on the price of oil.
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Yes, they have begun curtailing their drilling priorities in dry gas areas, but they have only high graded into staying in their A++ dry gas areas. They have leased in liquids rich areas, but they have drilled very little of it and virtually none of it is on production currently. So a bump in oil prices (keeping in mind that gas associated liquids sells for a little less than half of what crude oil is priced at) does absolutely nothing for their cash flow and only minimally adds to their asset value since they haven't yet achieved PDP (Proved Developed Producing) status. No lender or potential buyer is going to assign much value to "Probable or Possible" reserve categories... certainly not enough to cover the Nut that CHK has created with their debt.
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You just don't get it do you...it's not about the numbers man...its way beyond that my friend.
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Oh, I get it. It's ALWAYS about the numbers... unless you're Bernie Madoff and you simply make up numbers.
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You are simply clueless...it would take a Wharton grad to decipher CHK. financiasl...and your telling me you understand them...right.
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LOL... I could care less about their financials. Financials are for fools...they are retrospective snap shots of a moment in time and provide absolutely no guidance to future results. My perspective on CHK is based upon my personal knowledge of their inner workings. There are warts on their butt that nobody knows about...yet.
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Permalink Reply by Chartist on
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goldman sachs is providing a debt backstop to the tune of $12 billion to allow for a more orderly asset auction....we'll see what's left
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Permalink Reply by Betty on
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Fire Sale! CHK stock on sale -- down 87 cents after hours trading -- $14.65 -- for those willing to take a chance. and this may not be the end of the bad news. JR -- where are you?
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Permalink Reply by JR on
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I'm reading 1) there's blood in the water, and 2) they've gotten enough in bridge loans to tread that water while the sharks circle. Story developing...the fact they're rated as a "junk bond" and all the other ancillary info, my guess is they are ripe for a sale--but not yet. Maybe 2013, given the loan. As I previously said, now that there's a jugular exposed, the media will continue to crawl up CHK's you-know-what with a microscope until they either bring it down (99.9% of the time), sold, or are fully vindicated. But let's be real. That is one helluva uphill battle.
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