Chesapeake wants 2 billion for Utica assets, offered 700 million?

Chesapeakes stock down 4.4% after lowball offer according to Seeking Alpha

Rumors are swirling that Chesapeake is shopping its Utica dry gas assets - rumors are that Chesapeake is looking for $2 billion.

Based on my network sourcing I believe this sale is imminent and will be announced very soon.

This sale, when executed, will further underline the Chesapeake bull thesis.

Chesapeake has plenty of capital structure optionality as well as asset portfolio optionality that should ensure its mid-term viability.

Chesapeake is at no risk of default and barring a collapse of oil pricing to new lows should have put in its lows for this crisis.

Read more:http://seekingalpha.com/article/3510866-chesapeake-to-sell-utica-as...

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0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on September 17, 2015 at 2:30pm

You know if they were paying us the actual amount in our leases we could buy the Utica Assests from Chesapeake for a billion or two.

Overpaying Lord Knows Who money to have their way with the US landowners may have been a bad deal in the long run.

This expression comes to mind: "What Goes Around Comes Around".

My neighbor might still have an opening for an overpaid executive to muck their barn if you  aren't too good to actually work. Yea you, you know who I'm talking about. Who's your Daddy?

Permalink Reply by Ben on September 18, 2015 at 6:07am

I have found very little information regarding the potential sale of Chesapeake's dry gas Utica assets. Does anyone know how many acres are up for bid?

Permalink Reply by Markus on September 18, 2015 at 6:57am

And where? What Ohio counties?

Permalink Reply by craig on September 18, 2015 at 6:58am

It is all a somewhat substantiated rumor, that is probably true, from what I read. No details anywhere that I can find.

Mike MurphyPermalink Reply by Mike Murphy on September 18, 2015 at 8:28am

they are reporting dry gas acres so I say along the ohio river farther west you go the wetter the acreage is in the Utica.....southwestern already has the dry gas acreage in WV and PA

Permalink Reply by Dexter Green on September 18, 2015 at 10:57am

100,000 acres.

Permalink Reply by LERRET on September 24, 2015 at 12:25pm

So what are the reserves?  Not the pie in the sky numbers put out by CHK...real reserves. If we knew, then you can multiply that by about $0.80 per MCFGE (a better measure than BOE) and you will know what these reserves are "worth"... Gas is now $2.50 if you are lucky and one-third of that is about 80 ¢ an MCF.

BTW, Chesapeake appears on the edge of a massive layoff in Oklahoma City.  News I heard yesterday.  No surprise.

Mike MurphyPermalink Reply by Mike Murphy on September 24, 2015 at 5:44pm

UNLESS THERE IS A MIRACLE CHK WILL BE HISTORY IN A YEAR

Permalink Reply by Tusc-county-man on September 24, 2015 at 11:37pm
Mike
Who do you speculate will buy out chk?
Permalink Reply by Sherre Boyanowski on September 25, 2015 at 2:35am

Hopefully Anadarko.

Mike MurphyPermalink Reply by Mike Murphy on September 25, 2015 at 2:48am

Southwestern in this area.....more then likely CHK will be sold off to several producers in different plays

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