Seeking Alpha

CHK
Chesapeake Energy Corporation

5/26/2012, 5:54 PM ET
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CHK Market Currents more »
  • Friday 5:55 PM Now that he owns 7.6% of Chesapeake (CHK), what can Carl Icahn accomplish? Having Icahn around can at least stiffen the spines of the other shareholders, and he's seeking the removal of four board members. But his best results typically come when the company he targets ends up selling itself - and CHK, with its complicated capital structure, wouldn't be an easy sell.
    2 Comments
    [Energy]
  • Friday 4:04 PM Carl Icahn discloses a 7.56% stake in Chesapeake Energy (CHK +1.5%) via 13D filings. Icahn: "If you continue to arbitrarily refuse the request we have made for shareholder representation, we, as activists, will immediately take whatever 'actions' we feel are necessary to protect the value of this company."
    10 Comments
    [Energy]
  • Friday 10:24 AM Chesapeake (CHK +1.8%) shares open higher on news of Carl Icahn's bet on the company, but Antoine Gara reminds that the Icahn rumors aren't a reason for investors to start buying. With or without Icahn, asset sales are the make or break issue as CHK tries to bridge a big funding gap. Also worth noting: The last time Icahn held a big CHK stake, he was in and out with barely a ripple.
    1 Comment
    [Energy, Quick Ideas, On the Move]
  • Thursday 4:48 PM Chesapeake Energy (CHK) extends its late-session rally, +2.3% AH, as CNBC reports BlackRock has boosted its stake in the company to 4M-5M shares; as of March 31, BLK owned ~883K shares. Earlier, Bloomberg reported Carl Icahn had taken at least a 4% stake in CHK.
    2 Comments
    [Energy, On the Move]
  • Thursday 3:58 PM Chesapeake (CHK +2.6%) shares rally into the close on a Bloomberg report that Carl Icahn has purchased at least a 4% stake in the company. Note that the latest quarterly disclosure of Icahn's holdings showed no CHK shares; he had reported a 5.8% stake in Dec. 2010.
    7 Comments
    [Energy, On the Move]
  • Thursday 2:05 PM Chesapeake Energy (CHK -1.2%) has put 504K acres in the DJ Basin in Wyoming and Colorado up for sale, as it seeks to raise cash to close a $9B-$10B funding shortfall. The DJ Basin deal includes oil and gas production from 29 wells CHK operates and an interest in 24 non-operated wells.
    1 Comment
    [Energy, On the Move]
  • Wednesday 4:29 PM There's little new in Chesapeake's (CHK) latest letter to shareholders, rehashing "numerous" actions its board has taken to enhance corporate governance - cutting directors' and CEO compensation, et. al. The letter is said to address issues raised by NYC Comptroller John Liu, who is calling for the rejection of two board members in upcoming elections.
    Comment!
    [Energy]
CHK in Focus more »
CHK Instablog posts more »
  • Jim Cramer Six In Sixty - 5/22/12
    Fri, May 25 • Karin Hernandez • Comment!
  • Making Of A Super Bull Cycle In Coal
    Thu, May 24 • Mark Anthony • 13 Comments
  • Monthly Natural Gas Consumptions Show No Sign Of Fuel Switch
    Sat, May 19 • Mark Anthony • 70 Comments
  • Open Letter To The Board Of Directors Of Chesapeake Energy Corporation (CHK)
    Mon, May 14 • Pedro De Noronha • Comment!
  • EIA Weekly Natural Gas Updates Indicate No Coal To Gas Switch
    Mon, May 14 • Mark Anthony • 36 Comments
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Company Description

We are the second-largest producer of natural gas in the United States. We own interests in approximately 44,100 producing natural gas and oil wells that are currently producing approximately 2.4 billion cubic feet equivalent, or bcfe, per day, 93% of which is natural gas. Our strategy is... More