Without sounding egotistical but merely reinforcing position, my record here on GMS for the last three years has been one of Landowner loyalty.  Many times I have witten with information that was not yet public.

Here is the latest....Chesapeake is in Columbus in big negotiations about its position in Ohio's Utica.

IMHO, CHK is in deep financial DODO and will have to sell.........to who?

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Aubrey will have the last laugh.

If this is true, could it be that Chesapeake wants out of its Ohio Utica and into the emerging Utica in WV which is looking good?   Chesapeake has no significant presence in the hot areas of Belmont and Monroe counties in Ohio where the  Utica is hot at the moment.    And lol perhaps Aubrey will buy!

I'm betting Aubrey will end up with a lot of it.  Our well is a CHK well and OKKI energy has been throwing out numbers to buy mineral rights , OKKI Energy is an Aubrey company. 

Aubrey is on a mission to one up Chesapeake. although I think Aubrey is a douche, I would not want to be up against him.  

HOUSTON – Natural gas, and not oil, has turned out to be the dominant fossil fuel in Ohio’s Utica Shale, a big disappointment to the industry that prompted BP and Halcón Resources to abandon the play earlier this year.

But Aubrey McClendon’s new wildcatting venture American Energy Partners and a handful of players are racing to snap up land in the southeastern corner of the play, where operators have found wet gas and high-performing, affordable wells that rival some in the core of the Marcellus Shale, an analyst said at a press briefing last week.

“The wells are so strong in the southeast that $4 gas is fine out there,” said Jeanie Oudin, an analyst with Wood Mackenzie.

Domestic gas prices sank to record lows two years ago after shale gas supplies flooded U.S. markets, leading to a mass exodus of companies from gas fields. But Henry Hub natural gas prices rose to $6 per million British thermal unit in February, and traded around $4.72 on Thursday.

Exxon Mobil, Magnum Hunter, Rice Energy and Antero Resources are among the oil and gas producers moving southeastward to Belmont and Monroe Counties, about 100 miles east of Columbus, Ohio, where 19 of the top 20 best-performing Utica wells were drilled in the fourth quarter.

Some operators have recorded initial production rates that are on par with wells in in Susquehanna County, the Marcellus’ core area, about 150 miles north of Philadelphia. They have pumped close to 40 million cubic feet of natural gas per day, Oudin said.

In the northern areas of the Utica, closer to Cleveland, Wood Mackenzie expects more operators to pull out, as the rig count has dropped in areas like Chesapeake Energy’s coveted “oil window,” a hard-to-reach chunk of oil-soaked rock that turned out to be a lot smaller than the industry had first believed.

But the Utica “has been a little more exciting of late because of its potential and the capital that’s going into eastern Ohio,” Oudin said. Wood McKenzie projects the region’s daily output will grow to 5 billion cubic feet by 2018.

Chesapeake, one of the first companies to capture hydrocarbons in the Utica, drills further north in Carroll, Columbiana and Jefferson Counties. The company called the play its “newest world-class asset” last month, and is aiming to boost its production tenfold its level two years ago.

The Oklahoma City-based oil and gas producer accounts for about 60 percent of the producing wells in the play, but itsousted former CEO McClendon is jockeying for position in Ohio, too, snapping up more leases this week for its 280,000 net-acre position in the southeastern corner of the Utica.

American Energy, which has raised $10 billion in equity and debt to pay for more land in major U.S. shale plays, is “a wild card” worth watching, Oudin said.

Chesapeake, one of the first companies to capture hydrocarbons in the Utica, drills further north in Carroll, Columbiana and Jefferson Counties. The company called the play its “newest world-class asset” last month, and is aiming to boost its production tenfold its level two years ago.

The Oklahoma City-based oil and gas producer accounts for about 60 percent of the producing wells in the play, but itsousted former CEO McClendon is jockeying for position in Ohio, too, snapping up more leases this week for its 280,000 net-acre position in the southeastern corner of the Utica.

American Energy, which has raised $10 billion in equity and debt to pay for more land in major U.S. shale plays, is “a wild card” worth watching, Oudin said.

CHEASEPEAK IS CLEANING UP IT DEBT AND IS NOT GOING TO SELL ITS WORLD CLASS ASSET 

THEY BEEN CUTTING THE FAT FOR THE LAST YEAR BUT THEY WONT BE CUTTING THE GOOD MEAT ....I FEEL THE NEW MANAGEMENT TEAM WILL PULL CHK OUT OF THE DODO 

I agree! They could have sold or listed these assets late last year, early this year, but didn't list it.
There would be buyers for these 3 counties which means to me they will develop it.

Seeking Alpha.com says:

Chesapeake Will Be One Of The Best Performers In The Sector.

http://seekingalpha.com/article/2267753-chesapeake-will-be-one-of-t...

Aubrey is forcing CHK to drill in shale plays other than the Utica.  In Columbiana, even with completed pipelines, cryogenics plants at north and south.   2012 CHK drilled 50+ wells, 2013, 30+ and this year in 2014, 5 wells?  Total, probably cut them off and CHK is out of cash to drill, IMHO.

totals agreement runs through the end of 2014 ....and chk has other investors to work with ......yes aubery has a piece of every well drilled through the end of this month ...but aubrey cant tell chk where to drill ....they fired his ass last year 

y Corporation (NYSE: CHK  ) is an oil and gas exploration and production company. Chesapeake Energy also held midstream assets until 2012, when it sold its pipeline interests, including its stake in what is now Access Midstream Partners LP, for over $4 billion to private equity firm Global Infrastructure Partners.

What is the company's position today, and where might it be headed? Let's take a peek.

Company leadership
Chesapeake Energy was co-founded in 1989 by former President and COO Tom L. Ward and former CEO Aubrey McClendon -- more on him later. Today, a few of Chesapeake Energy's key leaders are:

1. Mr. Robert Douglas Lawler, CEO, President, and Director
Lawler assumed these three positions in June 2013. He began his career in 1988 with Kerr-McGee Corporation after graduating with a Bachelor of Science in Petroleum Engineering from the Colorado School of Mines. Lawler went on to earn his MBA from Rice University in 2002 and stayed with Kerr-McGee Corporation until 2006, when it was acquired by Anadarko Petroleum Corporation (NYSE: APC  ) . He joined Anadarko Petroleum Corporation and served in increasingly senior roles before joining Chesapeake Energy. Lawler has many years of experience in the industry along with wide geographic exposure and functions in operations, analysis, and planning.

2. Mr. Domenic J. Dell'Osso, Jr., CFO and Executive VP
Dell'Osso was appointed to his current position in November 2010. He holds degrees from Boston College and the University of Texas at Austin. From 2004 to 2008, he worked as an energy investment banker. In August 2008, he joined what is now Access Midstream Partners LP as its CFO and Vice President of Finance.

3. Mr. M. Chris Doyle, Senior VP-Operations, Northern Division
Doyle was appointed to his current position in August 2013. He is a 1995 graduate of Texas A&M University and a 2007 graduate of Rice University. Like Robert Douglas Lawler, Doyle worked at Anadarko Petroleum Corporation, where he spent 18 years in increasingly senior roles. He has international experience in Algeria and the United Kingdom, and oversaw Anadarko Petroleum's Southern and Appalachian operations, strategic planning, reserves estimation, and financial planning.

4. Mr. Mikell J. "Jason" Pigott, Senior VP-Operations, Southern Division
Pigott was appointed as Senior VP of Operations for the Southern Division in August 2013. He holds a degree from Texas A&M University and, like Lawler and Doyle, worked at Anadarko Petroleum Corporation prior to Chesapeake Energy. At Anadarko Petroleum, Pigott managed its Eagle Ford team and was a senior planner for southern and Appalachian operations.

It isn't a coincidence that many of Chesapeake Energy's executives are from Anadarko Petroleum, or that they joined the firm around the same time.

Transitioning from the McClendon era
Chesapeake Energy's founder and former CEO Aubrey McClendon left the company on April 1, 2013 under pressure from shareholders and the board of directors. The company's shareholders and board of directors pressed for new leadership because McClendon's questionable activities put Chesapeake Energy in a precarious position. McClendon made extensive use of a provision that allowed him to take a 2.5% stake in every well that Chesapeake Energy drilled, provided he paid his proportional cost for the well. He used his well stakes as collateral to borrow over $1 billion from investment banks and private equity firms. McClendon's activities invited an SEC probe, which recently ended with no charges pursued.

McClendon also aggressively overspent funds to chase after growth, financing expansion with debt. The company's expenditures exceeded its revenues from 2001 to 2013. Debt skyrocketed.

CHK Total Long Term Debt (Annual) Chart

Source: CHK Total Long Term Debt (Annual) data by YCharts

The company's debt has emerged as one of its major strategic challenges over the years. It was compounded by the crash in natural gas prices after 2008, but the company's unwise spending predated the crash. In 2012, Standard and Poor's lowered Chesapeake Energy's credit rating to BB- over concerns regarding the company's debt levels and poor management under McClendon.

Henry Hub Natural Gas Spot Price Chart

Source: Henry Hub Natural Gas Spot Price data by YCharts

In the year that Robert Douglas Lawler has been CEO, Chesapeake Energy has seen many changes. First, he brought in colleagues from Anadarko Petroleum to replace select executives from the McClendon era in an effort to improve performance and turn the page for the company. Second, the company has managed to cut capex and operating expenses. Third, the company has been selling assets to pay down debt, and its board approved plans this month to spin off its oilfield services division into the publicly traded Seventy Seven Energy. Although the oilfield services division generated about one-eighth of Chesapeake Energy's revenues in 2013, the company expects the spinoff to eliminate $1.1 billion of its debt load.

The company is telling anyone who will listen that it is changing its approach to business. So far, company moves are reflecting this. Investors have reacted well to these material changes in the way Chesapeake Energy operates over the past year, as evidenced by its increasing share price. 

CHK Chart

Source: CHK data by YCharts

Foolish conclusion
Moving forward, Chesapeake Energy looks to be on the right track. It is actively addressing a crippling debt load and fighting to move on from the McClendon era. Although tough choices are being made with respect to divestitures and capex, these choices will better position Chesapeake Energy for future 

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