Seeking Alpha

T. Boone Pickens admits he's moved money out of Chesapeake (CHK -1%), but he's still a fan of...

T. Boone Pickens admits he's moved money out of Chesapeake (CHK -1%), but he's still a fan of the company and Aubrey McClendon: "The board has changed - things will clear up... You get nat gas a few dollars higher, Aubrey will be a home run hitter again." But right now in energy, Pickens likes CLR and PXD, noting oil supply remains tight and prices should hold or rise in coming months.
Comments (5)
  • Actions speak louder than words.
    12 Jun 2012, 08:21 PM Reply Like
  • Actions speak louder than words is exactly right. He made a quick 10% and left. And there is a reason for it. He sees oil and gas going down. He knows CHK is a lease real estate company first and driller second to proof up reserves to bring out the value of the real estate lease play. Now it must cannibalize itself to survive. Most of the country is in the same position. Like most banks they overstate the value of what does not exist. It is kind of funny how not long ago Wisconsin corn ground brought $10,000 an acre. Then all of a sudden it only brought $5,000. Now some of that only brings $2500. Soon it will be $1250. In a few years it will be $625. Same is happening to CHK's lease acerage value.
    12 Jun 2012, 09:13 PM Reply Like
  • Leverage is such a beautiful animal until it bites you in the butt.
    15 Jun 2012, 02:11 PM Reply Like
  • Now that Natural Gas will be taking control of the Oil Industry Gas...!!!
    Do you suppose USA gas expenditure will ever at get to be the same as " Saudi Arabia" at $0.53 cents per gallon......One thing that will
    take place ; no more castastrophe in our "Gulf of Mexico".........


    Leonard Jack Robbins


    ( now 90 yrs. old )


    16 Jun 2012, 03:56 PM Reply Like
  • Now that the natural gas will be taking control of the oil industry, oil industry should be gas industry. Saudi Arabia has flat out told the USA that it has no other choice but to slowly curtail oil exports and replace oil with natural gas. Saudi Arabia has way more natural gas then we have, even though they have wasted large amounts of it by flaring it as it comes out of the ground. They are moving a lot faster then we are in turning gas into a liquid. They can do it a lot cheaper then we can. It is that new liguid gas industry made from dry gas that will control the gas industry.
    17 Jun 2012, 01:08 PM Reply Like
DJIA (DIA) S&P 500 (SPY)