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Chesapeake (CHK +0.6%) hires James Webb as its new, full-time legal counsel as it tries to...

Chesapeake (CHK +0.6%) hires James Webb as its new, full-time legal counsel as it tries to recover from damaging reports about controversial land deals in Michigan and CEO Aubrey McClendon's personal loans. Webb has been a longtime partner in Oklahoma's largest law firm; maybe he'll know how to tell Aubrey "no."
Comments (7)
  • Factzplz
    , contributor
    Comments (228) | Send Message
     
    "...tell Aubrey "no"."?

     

    "No" to borrowing against his well interests to invest in more wells benefitting CHK shareholders -- as approved by shareholders, twice, & fully disclosed in three pages in the annual Proxy sent to all shareholders each year?

     

    "No" to not bidding on land deals that only two companies, out of some 10,000 drillers, were bidding on because the property did not have the oil as first suspected, and that not one of the other 10,000 drillers have leased in the three years since the "get rich quick" landowner did not have the oil as reported?

     

    You mean "No" to creating over $20+ billion of shareholder equity from $50,000 ($30+ book value, as of 9-30-12)?

     

    You mean "No" to building the largest reserves in the United States that will provide over 15 years of drilling, while other companies need to keep discovering gas/oil?

     

    You mean "No" to being one of the lowest cost producers of gas/oil at $6.83 per BOE?

     

    You mean "No" to being an innovator and leader in building out the demand for nat gas with its CNG-in-a-box, Interstate fueling stations, conversion carbuators, etc.?

     

    You mean "No" to fostering Best Practices in drilling?

     

    I can only imagine how you would build this company.
    21 Sep 2012, 10:38 AM Reply Like
  • bdoeden
    , contributor
    Comments (63) | Send Message
     
    You have stated the case for Aubrey better than anyone.

     

    The anti-Aubrey comments here amaze me. Mainly they come from those who obviously have little knowledge of the industry. This is a high risk business where you spend millions to poke a hole in the ground hoping something will come out of that hole to repay your investment. This is unlike most other businesses and it takes a unique personality to make a go of it. A banker would never be able to build the business Aubrey has.

     

    If you don't have the stomach for high risk investing go buy some bank stock and start moralizing about the bankers.
    21 Sep 2012, 11:13 AM Reply Like
  • NatGasGHshale
    , contributor
    Comments (90) | Send Message
     
    Factzplz,

     

    All I can say is... You must not be in business with him...
    If you were... You are being cheated...
    23 Sep 2012, 07:38 PM Reply Like
  • texaswiz says
    , contributor
    Comments (64) | Send Message
     
    You sound like Aubrey himself. Are you? Somebody has to have the tea bags to spank this little boy and send him to his room.
    21 Sep 2012, 10:52 AM Reply Like
  • Harry Johnson
    , contributor
    Comments (482) | Send Message
     
    Landmen, geologists and engineers can create problems in a loosely managed company, but it takes a good general counsel to really screw things up.
    21 Sep 2012, 02:29 PM Reply Like
  • fmpmailinc@aol.com
    , contributor
    Comments (55) | Send Message
     
    Factzpiz and Bdoeden---Well Spoken. I agree with you 100%. We will see the Phoenix rise again--I'm confident. Aubrey didn't get to where he is by being risk averse. I truly believe the next 6 months will prove us correct for sticking with AM.
    21 Sep 2012, 03:28 PM Reply Like
  • jake7
    , contributor
    Comments (31) | Send Message
     
    With Chk its always another 6 months...let's see some stock price results before we crown AM.
    21 Sep 2012, 07:28 PM Reply Like
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