Chesapeake (CHK) will no longer be run by Aubrey McClendon, but the company he founded is far...


Chesapeake (CHK) will no longer be run by Aubrey McClendon, but the company he founded is far from rid of him. He is entitled to ~$47M in total compensation, but the most enduring entanglement is his interests in up to 2.5% of ~45K producing wells, which could make it harder to structure a takeover deal. "It's hard for me to imagine anyone wanting to take it all on," Argus' Phil Weiss says.

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Comments (11)
  • bwilliams10
    , contributor
    Comments (6) | Send Message
     
    What does that mean? "It's hard for me to imagine anyone wanting to take it all on," Argus' Phil Weiss.

     

    McClendon has a working interest in the wells, big deal. He pays his proportionate share and that's kinda it.
    31 Jan 2013, 01:23 PM Reply Like
  • dr_randevil
    , contributor
    Comments (274) | Send Message
     
    glad PW is still negative on CHK.
    31 Jan 2013, 01:50 PM Reply Like
  • texaswiz says
    , contributor
    Comments (65) | Send Message
     
    I kick myself in the shins everyday for buying that stock. Just when I thought they were tying the can to this dude and were going to be rid of him, this crops up.
    31 Jan 2013, 02:52 PM Reply Like
  • daleharvey
    , contributor
    Comment (1) | Send Message
     
    2.5% is not a controlling interest in a well. There are others with 97.5%. What are the issues?
    31 Jan 2013, 04:20 PM Reply Like
  • NatGasGHshale
    , contributor
    Comments (90) | Send Message
     
    daleharvey...
    "What are the issues?"... The "issues" are...Those of U.S. 97.5% are getting SHAFTED BY CHK Energy's CEMI... And 90% of the "97.5%" are CHK ROYALTY OWNERS...NOT WORKING INTEREST... CHK, et al, is NETTING OUT THEIR ROYALTY OWNERS TO DEATH....
    The "issues"... IT'S a WIN-WIN For ONLY McClendon, et al... IF...CHK CEMI isn't the MiddleMan...
    1 Feb 2013, 01:36 PM Reply Like
  • egmjpb
    , contributor
    Comments (30) | Send Message
     
    People, it's not an ORRI but a WI, so that means he pays for his 2.5% WI or should. Please remember, he co-founded the company and took the initial start-up risk. Yes, he made mistakes but he has been GREAT to OKC, the state of Okla. & many other states in his philanthropic efforts. So, before you rip him, please research what he has done. You might be surprised.
    1 Feb 2013, 10:54 PM Reply Like
  • mjs4ou
    , contributor
    Comment (1) | Send Message
     
    If you don't like the stock, Sell it!
    This is hardly just now cropping up, it has been discussed many, many times. So he is a working interest owner (a very minor one @ 2.5%) I don't see the big deal.
    31 Jan 2013, 04:21 PM Reply Like
  • NatGasGHshale
    , contributor
    Comments (90) | Send Message
     
    Let's make a bet... Mr. Chesapeake's "wink-wink" working interest or 2.5% of 45K+ wells...for which he borrowed multi-millions of $$$ from CHK (Stockholders' moneys) to fund his "up-front costs" and "netting out expenses"...and, remember...this is not "royalty interest"... This 2.5% produces revenues from production.... That "production" be it oil or nat gas shale gets "sold"... AND THERE'S THE ROTTEN AUBREY APPLE... Is Mr. Chesapeake's 2.5% of production on those 45K+ wells being Bought & Sold THROUGH CEMI (CHK Energy Marketing Inc.) at the SAME X**&^@# DISCOUNTED RATE that U.S. Other Unleased Mineral/Well Interest Owners and Royalty Owners oil and nat gas is being BOUGHT & SOLD for by the same CEMI...??????????
    Let's Say...YES... If the answer is Yes...Same $1, $1.20, $1.35, $1.90, etc., etc., etc.,...per MCF rate CEMI is paying U.S.... Then Mr. McClendon would have to be SWIMMING IN BILLIONS OF DOLLARS IN PERSONAL DEBT. HE owes @ 45K+ wells @ 2.5% of each wells tangible & intangible costs PLUS monthly lease expenses PLUS "Severance TAXES"... DO the Math...
    Let's Say...NO... If the answer is NO... And Mr. McClendon, et al, get more "FRIENDLY" rates/prices on production revenues and production cost...OR...Mr. Chesapeake, et al, where allowed to use "their" production revenues for THEIR Secret Hedge Funding Activities in O&G...???? IMO...That's the Only way he would have two nickles to rub together...Except of course for the Obscene "PAY PKGS" and "PERSONAL BAILOUTS" the BANKS & CHK BOD has Lavished Upon Him...
    CHK Royalty Owners & CHK Unleased Mineral Owners/Working Interest Partners are being ROBBED by CEMI and CHK Energy, et al... This is where the IRS, SEC, FTC, FBI need to focus...
    ...IMO as a CHK Working Interest Owner in the Haynesville Shale...
    1 Feb 2013, 01:27 PM Reply Like
  • JohntheOld
    , contributor
    Comments (202) | Send Message
     
    Take a breath, I'm sure you have a point, but it gets lost your means of expression.
    2 Feb 2013, 06:55 PM Reply Like
  • NatGasGHshale
    , contributor
    Comments (90) | Send Message
     
    JohntheOld...
    Yeah... Better to "shoot the messenger" than to get the message...
    I figure Mr. Chesapeake's FWPP (Founder Well Participation Program) is at least a $10 Billion...Billion...sy... off of CHK Energy, et al, Stockholder/Stock-price value...
    Hear's hoping you get the message...
    3 Feb 2013, 02:05 PM Reply Like
  • NatGasGHshale
    , contributor
    Comments (90) | Send Message
     
    As for posting on Seeking Alpha and its policies per posting comments and which comments its "Moderation Team" deems to be "removed"... Please read Forbes' Richard Finger's article "published" 2/3/2013 titled "Aubrey's Gone Let's Sing A Song."
    There is an example of U.S. 1st Amendment Right...Freedom of Speech... of which Mr. Finger's "speech" is far more "explicite" and "inflammatory" and "opined" than anything I or others have ever written here on Seeking Alpha. And, it's true.
    Forbe's, Bloomberg, NYTimes, etc., etc. don't have any problem with publishing anything I have ever sent to them...
    Why is the Seeking Alpha "Moderation Team" (Team...LOL) deleting comments on CHK's Aubrey McClendon????????
    Smells to me... IMO
    Goodbye to Seeking Alpha... Where the Freedom of Speech is supressed and censored when it does not fit Seeking Alpha's agenda...
    NatGasGHshale 2/5/2013
    5 Feb 2013, 02:20 PM Reply Like
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