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Chesapeake Energy (CHK) is looking to sell ~37K acres and 42 producing wells in Oklahoma, as it...

Chesapeake Energy (CHK) is looking to sell ~37K acres and 42 producing wells in Oklahoma, as it continues to raise money to pay down a funding shortfall; bids for the assets are due on Nov. 27. CHK has sold ~$12B of assets so far this year.
Comments (4)
  • auto44
    , contributor
    Comments (3009) | Send Message
     
    Buying natural gas when it is unwanted seems to me to be how fortunes are made.
    25 Oct 2012, 04:58 PM Reply Like
  • jmc58
    , contributor
    Comments (2) | Send Message
     
    I agree, can be a rough road but have to believe that natural gas will become a larger and larger portion of our energy needs here in the US.
    25 Oct 2012, 08:54 PM Reply Like
  • Excelteri
    , contributor
    Comment (1) | Send Message
     
    Looks to me that selling those assets to get the balance sheet in line is a preview of a sale or merger of the company to Conoco or some other giant.
    25 Oct 2012, 10:07 PM Reply Like
  • auto44
    , contributor
    Comments (3009) | Send Message
     
    Excelteri Maybe but weak balance sheets cause companies to have to sell. Strong ones don't require a sale. The assets are the assets, balance sheet condition would just effect the sale price not the salability. A whole lot has been made of the soap opera at (CHK) but the assets are the assets. Current headwinds are daunting to the domestic nat. gas business but the potential is huge.
    26 Oct 2012, 10:03 AM Reply Like
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