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Chesapeake Energy Q2 2010 Earnings Call TranscriptWed, Aug 4, 2010
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Chesapeake Energy Q1 2010 Earnings Call TranscriptWed, May 5, 2010
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Chesapeake Energy Corporation Q4 2009 Earnings Call TranscriptThu, Feb 18, 2010
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Chesapeake Energy Corporation Q3 2009 Earnings Call TranscriptTue, Nov 3, 2009
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Chesapeake Energy Corporation Q2 2009 Earnings Call TranscriptTue, Aug 4, 2009
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Chesapeake Energy Corporation Q1 2009 Earnings Call TranscriptTue, May 5, 2009
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at MarketWatch.com (Thu, 5:07PM)
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at CNBC.com (Thu, 2:41PM)
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at MarketWatch.com (Wed, 5:07PM)
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at CNBC.com (Wed, 8:06AM)
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at CNBC.com (Tue, 8:17AM)
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Business Wire (Mon, 10:53PM)
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at MarketWatch.com (Mon, 4:58PM)
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at MarketWatch.com (Mon, 4:33PM)
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at CNBC.com (Mon, 8:34AM)
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at CNBC.com (Mon, 8:00AM)
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at Fox Business (Mon, 7:20AM)
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Business Wire (Mon, 7:01AM)
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at MarketWatch.com (Fri, 5:23PM)
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at MarketWatch.com (May 16, 2013)
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at CNBC.com (May 16, 2013)
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at MarketWatch.com (May 13, 2013)
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at CNBC.com (May 9, 2013)
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Business Wire (May 8, 2013)
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at MarketWatch.com (May 3, 2013)
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Business Wire (May 3, 2013)
CHK vs. ETF Alternatives
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
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- | On the move
- Thursday, May 23, 6:26 PM New Chesapeake Energy (CHK) CEO Doug Lawler will make more than $22M in 2013 - a cash salary of $1.25M plus a signing bonus, stock awards and other perks - according to an SEC filing. Predecessor Aubrey McClendon's 2012 compensation package totaled $16.9M, with a $975K cash salary. 9 Comments [Energy]
- Wednesday, May 22, 8:21 AM Chesapeake Energy (CHK) +1.7% premarket as Susquehanna upgrades the stock to Positive from Neutral, believing CHK should get a boost from both higher oil and gas prices and its new CEO. The firm boosts its valuations for CHK's oil and gas reserves, saying investors have become more comfortable with higher prices; asset sales so far have been of "mixed quality." Comment! [Energy, Quick Ideas, On the Move]
- Monday, May 20, 12:40 PM Wall Street cheers Chesapeake's (CHK +4%) appointment of Doug Lawler as CEO as a vote of confidence in CHK after building a strong reputation at Anadarko (APC). While hopeful the move will improve capital discipline and allocation decisions, Tudor Pickering cautions it will be a steep wall to climb "given the balance sheet leverage and need to materially sell assets into a weak [acquisitions] market." 3 Comments [Energy, On the Move]
- Monday, May 20, 5:15 AM Directors at Chesapeake Energy (CHK) recruit Anadarko (APC) senior VP of international and deep-water operations Robert Douglas Lawler to succeed Aubrey McClendon as CEO, WSJ says. Lawler, a seasoned industry veteran, will join CHK on June 17 and says he "looks forward to generating value for shareholders in the years ahead." Besides plugging a multi-billion dollar gap between the company's spending and cash flow, Lawler's greatest challenge might be dealing with McClendon, whose contractual well investment rights mean he will likely be a part of the picture at CHK even if he isn't at the helm. 4 Comments [Energy, Top Stories]
- Thursday, May 16, 5:12 PM Bruce Berkowitz, whose Fairholme hedge fund looks for long-term value and has low turnover, must feel pretty confident about how things will shake out at Chesapeake (CHK), a rare energy holding. He took Q1's largest new position in the natural gas producer, worth more than $276M; the fund now owns a 2% stake in CHK after buying 13.4M shares. (13F) 2 Comments [Energy]
- Thursday, May 16, 3:45 PM Oil production from Ohio's Utica shale was lower in 2012 than first anticipated but will be "incidental" to gas output in much of the play, Ohio regulators say. Oil production averaged 1,742 bbl/day, while gas totaled 35M cf/day. Chesapeake (CHK) was by far the largest producer, with total 2012 output of 10B cf of gas, followed by Hess (HES) and Gulfport (GPOR); Devon Energy (DVN) produced no gas from its five wells. 1 Comment [Energy]
- Thursday, May 16, 10:47 AM Chesapeake Energy (CHK -2.6%) is downgraded to Neutral from Overweight at J.P. Morgan, which cites valuation, a lack of visible catalysts and a "perpetual funding gap" that could total $9.3B by 2015. The firm believes planned asset sales will help CHK fund its cash outspend in 2013 but will need to take on debt in 2014-15. Comment! [Energy, Quick Ideas, On the Move]
- Monday, May 13, 8:53 AM BNY Mellon (BK) is appealing last week's ruling allowing Chesapeake Energy (CHK) to proceed with redeeming $1.3B in bonds six years early and save CHK ~$100M in interest payments through lower rates. In court hearings before the trial, neither party could explain to the judge how an appeal might work, since the early redemption has already been put in motion and is scheduled to be executed today. 2 Comments [Energy]
- Wednesday, May 8, 4:25 PM Mark West Energy (MWE) agrees to acquire Anadarko Basin Granite Wash midstream assets from Chesapeake Energy (CHK) for $245M. In conjunction with the acquisition, MWE has executed long-term, fee-based agreements with CHK for gas gathering, compression, treating and processing services. Comment! [Energy]
- Wednesday, May 8, 9:44 AM Chesapeake Energy (CHK +0.9%) wins its trial over its early call of $1.3B in bonds after a judge ruled against the notes' trustee, Bank of New York Mellon (BK). CHK sued BNY Mellon in March after the bank challenged its bid to redeem the 6.775% notes six years early and refinance the debt, a plan that will save CHK ~$100M in interest payments because of lower rates. Comment! [Energy]
- Friday, May 3, 4:58 PM Top shareholder Southeastern Asset Management wields its influence at Chesapeake (CHK), placing Thomas Ryan, CEO of Service Corp. International (SCI), on the energy company's board. Director Louis Simpson is resigning after serving since 2011. Ryan will stand for election at the June 14 board meeting. 13 Comments [Energy]
- Friday, May 3, 10:19 AM EQT Corp. (EQT +1.9%) agrees to buy ~99K net acres in western Pennsylvania and 10 horizontal Marcellus wells from Chesapeake Energy (CHK +1%) for ~$113M, marking CHK's third announced asset sale this week. Three of the 10 wells are producing, EQT says the remaining seven will be turned in line by year-end 2013, adding ~1B cfe of sales volume. Comment! [Energy, On the Move]
- Wednesday, May 1, 12:38 PM The ink was barely dry on Chesapeake's (CHK -2.1%) better-than-expected earnings report before worries resurface about its liquidity position and slow progress on its asset-sale program. In its conference call, CHK said its 2013 funding gap stands at $3.5B, barely halfway through its $7B asset-sale target. Concerns are exacerbated by supposedly receiving low prices for the assets. 2 Comments [Energy, On the Move]
- Wednesday, May 1, 8:15 AM SemGroup (SEMG) agrees to acquire Mississippi Lime midstream assets from Chesapeake Energy (CHK) for $300M. SEMG says the deal will lift its total processing capacity to 600M cf/day in Oklahoma and with ~655K net acre dedications within the core of the Mississippi Lime play. Completion of two cryogenic processing plants will require ~$125M in capex. Comment! [Energy, M&A]
- Wednesday, May 1, 7:50 AM More on Chesapeake's (CHK) Q1 results: Total production rose to 4B cfe/day, +9% Y/Y. Says it has closed or signed ~$2B of asset sales YTD, expects to close previously announced Mississippi Lime JV transaction with Sinopec before end of Q2 and to sign agreements selling northern Eagle Ford assets in Q2. Projects FY 2013 production expenses of $0.85-$0.90/mcfe for the year, down $0.05 vs. prior guidance. Shares +3.9% premarket. Comment! [Energy, Earnings, On the Move]
- Wednesday, May 1, 7:04 AM Chesapeake Energy (CHK): Q1 EPS of $0.30 beats by $0.05. Revenue of $3.42B beats by $0.57B. (PR) 1 Comment [Earnings, Breaking News]
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Sir. Monaco
$CHK new ceo is a good thing, but doesn't change the balance sheet, the pro forma story is kindda ruined with CHK, nat gas injections see - View all 1 replies
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Sir. Monaco: consistent,PowerBurn has next five weeks at: +94, +100, +99, +97, +92...WHICH ROCKETS US ABOVE THE 5YR AVG, another gas price correction com
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Mike Maher
Ohio DNR confrence starting now follow #ohioutica for updates $MHR $GPOR $PDCE $CHK $HES http://bit.ly/19zrYVh - View all 6 replies
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Kevin Chapman: "Richard Zeits states it is a buyers market in the shale plays". Sounded similar of the recent articles he wrote about $CHK/Marcellus sales -
Mike Maher: SA should talk that up, give the man credit where credit is due
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Sir. Monaco
if I was Icahn and other $CHK shareholders I would be pissed that GS hyped natural gas, -today JPM shoves CHK off the cliff for good reason, - View all 0 replies
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inandoutnevertoolate
Major disconnect forming between nat gas $UNG stocks and nat gas prices $SD $CHK both on the run up and the plunge today. Watching closely - View all 0 replies
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Sir. Monaco
$CHK $UNG - these two are going to be exciting over the next few weeks, from what we can tell there is a battle between the investment banks - View all 5 replies
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Jonathan N: No kidding! How can someone justify further advances if we overtake the 5 year avg. The only reason I see to go long anymore is momentum. -
GJN: Does price spike seem like it's NG fundamentals? Appears more like high freq trading and HF computers pinging each other to push NG higher
LATEST REPLIES
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Sir. Monaco
$CHK new ceo is a good thing, but doesn't change the balance sheet, the pro forma story is kindda ruined with CHK, nat gas injections see - View all 1 replies
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Sir. Monaco: consistent,PowerBurn has next five weeks at: +94, +100, +99, +97, +92...WHICH ROCKETS US ABOVE THE 5YR AVG, another gas price correction com
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Mike Maher
Ohio DNR confrence starting now follow #ohioutica for updates $MHR $GPOR $PDCE $CHK $HES http://bit.ly/19zrYVh - View all 6 replies
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Kevin Chapman: "Richard Zeits states it is a buyers market in the shale plays". Sounded similar of the recent articles he wrote about $CHK/Marcellus sales
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Mike Maher: SA should talk that up, give the man credit where credit is due
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Sir. Monaco
$CHK $UNG - these two are going to be exciting over the next few weeks, from what we can tell there is a battle between the investment banks - View all 5 replies
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Jonathan N: No kidding! How can someone justify further advances if we overtake the 5 year avg. The only reason I see to go long anymore is momentum.
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GJN: Does price spike seem like it's NG fundamentals? Appears more like high freq trading and HF computers pinging each other to push NG higher
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Jason Burack
At these improving US natural gas prices $CHK $DVN $UPL can probably make pretty good profits - View all 2 replies
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Jason Burack: Because of their debt levels probably had to hedge some but still very good upside when hedges come off.
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Todd Johnson
$SD, $SDT, $CHKR, $CHK Short these names unless one knows what the value of undrilled wells are. Ex-CEO's are < than 2-thumbs up. TJ - View all 7 replies
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Zeus2012: Bought some over a week ago at $13.50. Don't think it'll drop that low though
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Jim Warlick: I've seen a large amount of research on ORCL and largely expect them to achieve 10-15% earnings this year. Watch developing cloud tech. BUY
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Michael Bryant
Will Buffett buy Chesapeake Energy ($CHK), Anadarko Petroleum ($APC), or Devon Energy ($DVN) for natural gas? http://bit.ly/XF5pie - View all 1 replies
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Jason Burack
Porter Stansberry is right. Long term $CHK & $DVN are selling for way below book & good investments. But, no real near term catalysts yet. - View all 17 replies
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Jason Burack: I told people who followed my work to start buying $LNG in 2009 when it crashed to 6 and keep accumulating when it was still at 14-15.
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Ocean Man: Very interesting. I'd seen nothing but bullish long-term comments on SD the past few weeks.
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Bob de'Long
$CHK today announced that CEO Aubrey K. McClendon, has agreed to retire from the company on April 1, 2013. - View all 2 replies
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Jim Fish: Wow... didn't expect that news today. That's great for the stock - will be interesting to see who takes over. -
Alan Brochstein: There are a ton of people who wouldn't buy CHK at any price with Aubrey there - I think that the 10% move is probably less than half...