I finally gathered the most recent data reported by the Chesapeake Granite Wash Trust (NYSE:CHKR) to perform a quarterly financial review. Honestly I did not find any surprising new information within the financial statements. The Trust still deserves a junk rating at best, and the bad news has been public for over a year. The issues facing the Trust are best summarized in these statements found buried in the notes of the most recent 10-Q:
"[T]he Trust experienced reduced production volumes throughout 2013 and 2014, largely due to higher-than-expected pressure depletion within the AMI."
To emphasize the implications of this severe point the accountants go on to say:
"Low levels of future production will continue to...
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