Chesapeake Energy Corporation
 (CHK)

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  • Nov. 20, 2012, 7:18 AM

    Carl Icahn ups his stake in Chesapeake Energy (CHK) to 8.89% from 7.56% previously. Shares +2.3% premarket. (13D)

    | Nov. 20, 2012, 7:18 AM | 6 Comments
  • Nov. 14, 2012, 12:37 PM

    North American gas producers are killing their commodity’s big rally by opening more wells, putting the U.S. on track toward record gas supplies this year, according to a Bloomberg analysis. The 44% price rise in natural gas between Sept. 10 and Oct. 30 stalled as Chesapeake (CHK) and others added output in areas such as the Marcellus shale; COP and ECA brought back curtailed output.

    | Nov. 14, 2012, 12:37 PM | 12 Comments
  • Nov. 14, 2012, 8:31 AM

    The Utica shale, where Chesapeake Energy (CHK) owns drilling rights to 1.2M acres with roughly a third in a zone it has described as rich in oil, is now considered unlikely to drive a major increase in its oil production. Utica will be "one of our foundational plays for decades," CEO Aubrey McClendon says, but if there's oil to be had there, it would be collected with the help of other companies.

    | Nov. 14, 2012, 8:31 AM | 3 Comments
  • Nov. 13, 2012, 2:11 PM

    Hedge fund manager Mohnish Pabrai nearly tripled his holdings of Chesapeake Energy (CHK +1.5%) during Q3 and now owns nearly 3M shares of the embattled company. His purchase prices were in the $16.83-$20.52 range, with an estimated average price of $19.08.

    | Nov. 13, 2012, 2:11 PM | 5 Comments
  • Nov. 9, 2012, 5:18 PM

    From Chesapeake Energy's (CHK) just-filed 10-Q: "We project that our capital expenditures will continue to exceed our operating cash flow through 2013... we may not reach our previously announced goal of $9.5 billion by year-end 2012 until 2013."

    | Nov. 9, 2012, 5:18 PM | 6 Comments
  • Nov. 5, 2012, 2:27 PM

    Chesapeake (CHK -2%) shares are down again on concerns over debt reduction difficulties, but Canaccord keeps the faith that asset sales will keep debt in check. While believing CHK's proclamations are too optimistic, the firm thinks net debt-to-EBITDA should remain modestly under 3x through 2017 if CHK can just achieve the near-term goal of $2.5B-$3B in proceeds.

    | Nov. 5, 2012, 2:27 PM | 1 Comment
  • Nov. 2, 2012, 3:47 PM

    Chesapeake (CHK -8.5%) hits lows of the day after admitting its target to reduce debt to $9.5B or less by year's end may be pushed into 2013 (conference call). Argus oil analyst Phil Weiss says CHK has promised a lot but has yet to deliver much: "They still say they are going to lower debt and they still need to complete asset sales. They just admitted they are having trouble."

    | Nov. 2, 2012, 3:47 PM | 5 Comments
  • Nov. 2, 2012, 9:57 AM
    Chesapeake Energy (CHK -4.7%) slides in early trading after management warns in its Q3 earnings conference call that some asset sales could be delayed. Debt reduction targets for 2012 may slip into early 2013 as closings for deals may be pushed into that time period. CHK also says its rig count is down 46% YTD; it is "essentially unhedged for 2013."
    | Nov. 2, 2012, 9:57 AM | 2 Comments
  • Nov. 1, 2012, 4:53 PM

    More on Chesapeake's (CHKQ3 results: Produced 4.14MMcf/day of natural gas. Oil production jumped 96% Y/Y, gas rose 19%, NGL up 1%; expects natural gas production to decline 7% and liquids to rise 29% in 2013. No guidance offered. But investors are rattled by $2B in impairment charges; after rising initially, shares -2.3% AH.

    | Nov. 1, 2012, 4:53 PM
  • Nov. 1, 2012, 4:17 PM
    Chesapeake Energy (CHK): Q3 EPS of $0.10 in-line. Revenue of $3.0B (-25% Y/Y) beats by $600M. Results exclude noncash after-tax impairment of $2B tied to carrying value of natgas and oil properties. Shares +2.1% AH. (PR)
    | Nov. 1, 2012, 4:17 PM | 10 Comments
  • Nov. 1, 2012, 9:49 AM

    Chesapeake Energy (CHK -0.9%) says it is working with banks to issue $2B in debt to pay off more-expensive loans on its bloated balance sheet. CHK plans to use the proceeds to pay off a loan it obtained in May, plus other debt. The interest rate is not yet clear since the new loan has not been priced, but CHK wants to repay several expensive loans with rates all above 6%.

    | Nov. 1, 2012, 9:49 AM | 2 Comments
  • Nov. 1, 2012, 12:10 AM

    Notable earnings after Thursday’s close: AIG, AIV, ALSK, ATML, BKD, BMR, CAR, CENX, CHK, DCT, DDR, DWA, EIX, EQIX, FLR, FSLR, GLUU, HAIN, HIG, HTGC, INT, ITMN, JMBA, JOE, KERX, KOG, LIFE, LLNW, LNC, LNKD, LVS, MDLZ, MELI, MNKD, NEM, NGD, NKTR, NLY, OMPI, ONNN, ONXX, OPEN, PBI, PCLN, ROVI, RSG, SAM, SBUX, SHO, SKUL, SPWR, SWKS, SWN, TRIP, UNTD, VNO, VRTX, WBMD, WIT, WPRT, YELP, ZAGG, ZIOP

    | Nov. 1, 2012, 12:10 AM
  • Oct. 31, 2012, 5:35 PM

    Notable earnings after Thursday’s close: AIG, AIV, ALSK, ATML, BKD, BMR, CAR, CENX, CHK, DCT, DDR, DWA, EIX, EQIX, FLR, FSLR, GLUU, HAIN, HIG, HTGC, INT, ITMN, JMBA, JOE, KERX, KOG, LIFE, LLNW, LNC, LNKD, LVS, MDLZ, MELI, MNKD, NEM, NGD, NKTR, NLY, OMPI, ONNN, ONXX, OPEN, PBI, PCLN, ROVI, RSG, SAM, SBUX, SHO, SKUL, SPWR, SWKS, SWN, TRIP, UNTD, VNO, VRTX, WBMD, WIT, WPRT, YELP, ZAGG, ZIOP

    | Oct. 31, 2012, 5:35 PM
  • Oct. 26, 2012, 2:31 PM
    Chesapeake Energy (CHK -1.2%) has been given permission to frack for natural gas just one mile away from First Energy's Beaver Valley nuclear power station in Shippingport, Pa. State regulators say there are no required setbacks specifically relating to a required distance between unconventional wells and nuclear facilities.
    | Oct. 26, 2012, 2:31 PM | 6 Comments
  • Oct. 25, 2012, 4:47 PM
    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.
    | Oct. 25, 2012, 4:47 PM | 4 Comments
  • Oct. 22, 2012, 6:22 PM

    Chesapeake Energy (CHK) reportedly has paid off more than half of a $4B bridge loan after receiving $2.8B in cash from the sale of some of its oil and gas properties in the Permian Basin. The loan, made in May, was a lifeline for CHK as it was staring at a $10B funding shortfall; so far this year, CHK has sold ~$12B of its assets.

    | Oct. 22, 2012, 6:22 PM | 1 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.