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CEO Aubrey McClendon says Chesapeake (CHK) expects to announce an asset sale and/or a JV for its...

CEO Aubrey McClendon says Chesapeake (CHK) expects to announce an asset sale and/or a JV for its Mississippi Lime acreage as part of $11.7B in sales completed or announced by the end of Q3. McClendon also expects to announce a sale of "the vast majority" of its assets in the west Texas Permian Basin. CHK +0.5% premarket.
Comments (4)
  • Randy Sommovilla
    , contributor
    Comments (32) | Send Message
     
    What assets will be left?
    6 Sep 2012, 10:44 AM Reply Like
  • Factzplz
    , contributor
    Comments (228) | Send Message
     
    CHK has roughly 24,000 sq. miles. It is selling 2,000. I guess 22,000 sq. miles is "enogh."

     

    This is all part of the plan Aubrey laid out 5 years ago -- and he continues to execute to perfection.

     

    CHK started with $50,000 and today has shareholder equity of nearly $20 billion, and the $4 billion or so profit on these sales will push equity to $24 billion, $2 billion more than Devon which was founded 10 years before McClendon was born.
    6 Sep 2012, 11:20 AM Reply Like
  • fmpmailinc@aol.com
    , contributor
    Comments (55) | Send Message
     
    I have said all along that Aubrey would land on his feet. A neighbor of mine said along time ago not to "bet against Aubrey"...that CHK was his baby and he would take care of it. Looks like he is well on the road to executing the plan---and no doubt will get it done. I have always thought of CHK as a INVESTMENT rather than a trade. Those of us who are in it for the long haul will reap the rewards of our convictions. Sure there are still some bumps in the road, but in the long run CHK is a winner and will prove to continue to be one.
    6 Sep 2012, 03:31 PM Reply Like
  • GeneMcC
    , contributor
    Comment (1) | Send Message
     
    you should never get personal with a stock and especially not chk...
    7 Sep 2012, 12:33 AM Reply Like
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