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Chesapeake Energy Corporation (CHK)

  • Aug. 28, 2012, 4:42 AM
    Chevron (CVX) has a $21B cash pile and investors are wondering what the company will do with it. Chevron says it needs to protect itself as it carries out multi-billion dollar projects, but analysts speculate about possible buybacks, increased dividends and acquisitions, with Chesapeake (CHK) and Hess (HES) mooted as possible targets.
    | Aug. 28, 2012, 4:42 AM | 1 Comment
  • Aug. 23, 2012, 6:02 PM
    Chesapeake (CHK) let Aubrey McClendon profit from Barnett Shale oil and gas wells while denying the same chance to leaseholders on the properties, according to a new lawsuit. The CEO was allowed to purchase a 1%-2% interest in wells drilled by CHK, using his stake in the wells as collateral; CHK was contractually obligated to offer leaseholders a similar deal, the plaintiffs say.
    | Aug. 23, 2012, 6:02 PM | 5 Comments
  • Aug. 21, 2012, 10:47 AM
    Is Chesapeake (CHK +3.5%) enjoying something of a renaissance? Shares have quietly advanced 34% in the past three months, natural gas prices have climbed 45% from the April low, and CHK may be getting its house in order. Canaccord reiterates its Buy rating, noting that CHK's net debt should end $1B less than the year-end 2012 target of $9.5B.
    | Aug. 21, 2012, 10:47 AM | 1 Comment
  • Aug. 15, 2012, 6:11 PM
    Crude oil production in the Permian basin will rise by ~60% to reach at least 1.82M bbl/day by 2016, energy consultancy Bentek says. Output will surpass existing pipeline capacity by early next year, but ~1M bbl/day of new takeaway capacity is slated to come online by the end of 2014.
    | Aug. 15, 2012, 6:11 PM | 4 Comments
  • Aug. 15, 2012, 11:56 AM
    Sinopec's (SNP) plan to invest up to $1B in a Texas clean coal project could be a precursor to a purchase of Chesapeake's (CHK) Permian Basin oil fields, Christopher Helman speculates. The project aims to capture CO2 emissions from coal, then inject it into old oil fields to coax out more crude; Helman thinks SNP could be securing a long-term CO2 supply before announcing a CHK deal.
    | Aug. 15, 2012, 11:56 AM | 2 Comments
  • Aug. 14, 2012, 5:11 PM
    More on Dan Loeb's Third Point: The fund opened up a 5M share stake in Chesapeake Energy (CHK) in Q2. Other companies in which new stakes were taken: AIG - 2.25M shares. LINTA - 3.25M. NWSA - 4M. Companies in which Loeb liquidated his positions include ANF, CSCO, GOOG, and MCK. (13-F)
    | Aug. 14, 2012, 5:11 PM | 1 Comment
  • Aug. 12, 2012, 4:11 AM
    With 77% of Chesapeake's (CHK) estimates of its reserves produced by independent firms in 2011 vs. an average of 89% for nine rivals, investors are concerned that Chesapeake's figures are overly aggressive and may need to be written down in the future. Chesapeake is already known as the "number one cutter of reserves."
    | Aug. 12, 2012, 4:11 AM | 8 Comments
  • Aug. 10, 2012, 6:16 PM
    Chesapeake (CHK) is racing to sell assets to fund operations, and its planned sale of poperties in Michigan was expected to fetch up to $500M, but that was before the U.S. government's antitrust probe. Now, liability risk - and potentially poor drilling results - may have slashed the value of the leases, and some analysts say the leases may be hard to sell at any price.
    | Aug. 10, 2012, 6:16 PM | 3 Comments
  • Aug. 10, 2012, 3:05 PM
    Chesapeake (CHK -3.8%) shares slide a day after after the company disclosed it has received a Justice Department subpoena related to land deals it made in Michigan. Four days before the government asked for documents, Reuters reported CHK colluded with Encana (ECA -0.2%) to suppress land prices in areas considered rich in oil and natural gas.
    | Aug. 10, 2012, 3:05 PM | 3 Comments
  • Aug. 9, 2012, 5:59 PM
    Chesapeake Energy (CHK) says it is the subject of a U.S. antitrust investigation over possible violations in its purchase and lease of oil and gas rights. CHK reportedly plotted with Encana (ECA) to suppress land prices in a promising oil and gas play in Michigan. Shares -1.4% AH. (10-Q)
    | Aug. 9, 2012, 5:59 PM | 5 Comments
  • Aug. 7, 2012, 2:54 PM
    Investors cheer Chesapeake's (CHK +9.2%) plans to sell another $5B in assets in the next year and a half (also), pushing shares near the top of the day's S&P leader board. But some analysts still say CHK has become too dependent on asset sales to provide liquidity, with "a flood of acreage deals available [and] weaker oil and gas pricing than before."
    | Aug. 7, 2012, 2:54 PM | Comment!
  • Aug. 7, 2012, 10:34 AM
    Chesapeake (CHK +9%) surges after its Q2 earnings conference call, as CHK raises 2012 and 2013 production guidance, expects 2013 capex to fall 45% vs. 2012, and sees an additional $4B-$5B in asset sales in 2013. The U.S. is at a start of a multiyear up cycle in gas market fundamentals, CEO McClendon says, with $1.84/MMBtu representing a bottom.
    | Aug. 7, 2012, 10:34 AM | Comment!
  • Aug. 7, 2012, 8:04 AM
    Chesapeake (CHK) +3.7% premarket following its Q2 earnings yesterday. The company expects to complete asset sales of $7B in Q3 after divesting $4.7B worth in H1 as it strives to cover a $10B funding gap. Chesapeake tweaks its FY "divestiture guidance" to $13-14B from $11.5-14B.
    | Aug. 7, 2012, 8:04 AM | Comment!
  • Aug. 6, 2012, 4:32 PM
    Chesapeake Energy (CHK): Q2 EPS of $0.06 misses by $0.03. Revenue of $3.39B (+2.1% Y/Y) beats by $7M. Daily production averaged 3.808 bcfe, +25% Y/Y and +4% Q/Q. Shares +3.4% AH. (PR)
    | Aug. 6, 2012, 4:32 PM | 6 Comments
  • Aug. 6, 2012, 11:27 AM
    Many energy stocks trade "near liquidation value," and the group is valued at "trough" levels, some analysts say, as the price ratio of energy stocks relative to the S&P 500 is near lows reached at the 2009 market bottom and in 2010-11. Among favorites: CVX, XOM, RDS.A, APA, APC, HES, HAL, SLB. Avoid gas-oriented issues such as CHK, SWN, ECA.
    | Aug. 6, 2012, 11:27 AM | 13 Comments
  • Aug. 6, 2012, 9:06 AM
    Chesapeake (CHK) is downgraded to Market Perform by BMO Capital, prompted by "a story still chock-full of operating and financial risk, and one where the turnaround appeal is fading." CHK is scheduled to issue its Q2 report after today's close; adjusted net income is estimated to fall more than 80% to ~$100M from $571M a year earlier. CHK -1% premarket.
    | Aug. 6, 2012, 9:06 AM | Comment!
Company Description
Chesapeake Energy Corp is a natural gas and oil exploration and production company. It explores, develops and acquires properties for the production of natural gas and crude oil from underground reservoirs and also provides marketing & midstream services.