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Chesapeake’s (CHK -5.6%) 1.5M acres in the Permian Basin may be worth $6.82B, $1.8B more...

Chesapeake’s (CHK -5.6%) 1.5M acres in the Permian Basin may be worth $6.82B, $1.8B more than expected, based on the price Concho Resources agreed to pay this week for oil fields in the same area. Anadarko (APC) CEO Al Walker says he'll take a look at CHK’s Permian assets; Occidental Petroleum (OXY) had a bid for CHK assets rejected, Forbes reported.
Comments (4)
  • gcmagone
    , contributor
    Comments (881) | Send Message
     
    Anadarko had better use an abundance of caution in dealing with Chesapeake. Check all well logs with help from Schlumberger. Review all seismic data and compare it with industry data. Carefully study each and every lease provision. Then make a very "low ball" bid if still interested. History has shown that Chesapeake is a sly and crafty outfit.
    15 May 2012, 03:18 PM Reply Like
  • the_value_vulture
    , contributor
    Comments (157) | Send Message
     
    The company clearly has very little credibility left. An activist and some major shareholders can do a full court press and get rid of this management group and/or push for a company sale. Their alignment between shareholders is nil. I think this is the most likely outcome.
    15 May 2012, 03:40 PM Reply Like
  • April May
    , contributor
    Comments (520) | Send Message
     
    I can't dump my shares without taking a huge loss!
    15 May 2012, 07:50 PM Reply Like
  • greinhold
    , contributor
    Comments (39) | Send Message
     
    Bad news doesn't get better with time...crook Chairman and NG falling on demand....look out below.
    15 May 2012, 07:58 PM Reply Like
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