Chesapeake (CHK)

sam callahan

Joined: Oct 28, 2002

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How do feel about Chesapeake coming out of bankruptcy? Undervalued compared to other gas stocks because they are rebuilding and a good value? Or too early in to know the comparative risk?

birdman

Joined: Nov 6, 1999

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11:06p, 8/23/22

Same morons are still running the company.

They recently announced they were selling their oil positions. Betting exclusively on gas for long term seems like poor plan to me.

Think of Chesapeake as the financially illiterate hillbilly that wins the Powerball lottery. They end up broke in two years. But only have a gold suit of armor and fancy above ground pool to show for it.

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Ag CPA

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10:10a, 8/24/22

AG

Yep, poorly-run company that can't figure out their strategy; better options out there.

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Dirt 05

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12:01p, 8/24/22

AG

Will make a bunch of money despite themselves until stability returns to european gas markets.

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TxAg20

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In reply to birdman • 8:38a, 8/25/22

AG

I thought they got new morons over the last 2-3 years?

birdman

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In reply to TxAg20 • 9:19a, 8/25/22

TxAg20 said:
I thought they got new morons over the last 2-3 years?

CEO left after bankruptcy was finished. He's now at Continental. Everybody else at Chesapeake just moved up one spot on pecking order.

Their wings are a bit clipped. The Chicago money guys that orchestrated the bankruptcy are calling the shots.

Same morons.

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Ribeye-Rare

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In reply to Dirt 05 • 10:51a, 8/25/22

AG

Dirt 05 said:
Will make a bunch of money despite themselves until stability returns to european gas markets.

I can't understand them getting out of oil.

For example, they purchased a bunch of Eagle Ford acreage in Burleson County from Wildhorse.

Wildhorse has been re-formed as Wildfire and is involved again in Burleson County. I wouldn't be surprised if they now buy back a lot of that same acreage they sold to Chesapeake. Chesapeake says they expect to get good money, but for my money 'Wildfire' is a better horse trader.

Some of those wells in Burleson County are pretty good, although they suffer from rapid decline just like other shale and Austin Chalk acreage does.