Seeking Alpha

CHK
Chesapeake Energy Corporation

5/25/2012, 10:25 AM ET
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CHK Market Currents more »
  • 10:24 AM Chesapeake (CHK +1.8%) shares open higher on news of Carl Icahn's bet on the company, but Antoine Gara reminds that the Icahn rumors aren't a reason for investors to start buying. With or without Icahn, asset sales are the make or break issue as CHK tries to bridge a big funding gap. Also worth noting: The last time Icahn held a big CHK stake, he was in and out with barely a ripple.
    Comment!
    [Energy, On the Move]
  • Thursday 4:48 PM Chesapeake Energy (CHK) extends its late-session rally, +2.3% AH, as CNBC reports BlackRock has boosted its stake in the company to 4M-5M shares; as of March 31, BLK owned ~883K shares. Earlier, Bloomberg reported Carl Icahn had taken at least a 4% stake in CHK.
    2 Comments
    [Energy, On the Move]
  • Thursday 3:58 PM Chesapeake (CHK +2.6%) shares rally into the close on a Bloomberg report that Carl Icahn has purchased at least a 4% stake in the company. Note that the latest quarterly disclosure of Icahn's holdings showed no CHK shares; he had reported a 5.8% stake in Dec. 2010.
    7 Comments
    [Energy, On the Move]
  • Thursday 2:05 PM Chesapeake Energy (CHK -1.2%) has put 504K acres in the DJ Basin in Wyoming and Colorado up for sale, as it seeks to raise cash to close a $9B-$10B funding shortfall. The DJ Basin deal includes oil and gas production from 29 wells CHK operates and an interest in 24 non-operated wells.
    Comment!
    [Energy, On the Move]
  • Wednesday 4:29 PM There's little new in Chesapeake's (CHK) latest letter to shareholders, rehashing "numerous" actions its board has taken to enhance corporate governance - cutting directors' and CEO compensation, et. al. The letter is said to address issues raised by NYC Comptroller John Liu, who is calling for the rejection of two board members in upcoming elections.
    Comment!
    [Energy]
  • Tuesday 2:46 PM Chesapeake (CHK +0.2%) stands by its plan to expand its oil production, saying it will spend 90% of its planned $7B capital budget for 2013 on drilling in oil fields, including ~40% earmarked for the liquids-rich Eagle Ford shale formation. CHK still plans on spending 7% of capex on dry gas production despite depressed gas prices.
    1 Comment
    [Energy]
  • Tuesday 10:22 AM The selloff in Chesapeake Energy (CHK +0.2%) creates a buying opportunity, Oppenheimer says while maintaining its Outperform rating and $28 price target. CHK is accelerating its liquids production growth and asset monetization, and the firm thinks its net asset value after pending asset sales is above its current share price.
    4 Comments
    [Energy, Quick Ideas]
CHK in Focus more »
CHK Instablog posts more »
  • Making Of A Super Bull Cycle In Coal
    Thu, May 24 • Mark Anthony • 13 Comments
  • Monthly Natural Gas Consumptions Show No Sign Of Fuel Switch
    Sat, May 19 • Mark Anthony • 70 Comments
  • Open Letter To The Board Of Directors Of Chesapeake Energy Corporation (CHK)
    Mon, May 14 • Pedro De Noronha • Comment!
  • EIA Weekly Natural Gas Updates Indicate No Coal To Gas Switch
    Mon, May 14 • Mark Anthony • 36 Comments
  • Review Of Trefis Articles Past Two Weeks, Ending 11 May 2012
    Sat, May 12 • John Lounsbury • Comment!
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Company Description

We are the second-largest producer of natural gas in the United States. We own interests in approximately 44,100 producing natural gas and oil wells that are currently producing approximately 2.4 billion cubic feet equivalent, or bcfe, per day, 93% of which is natural gas. Our strategy is... More