Seeking Alpha

Chesapeake Energy Corporation (CHK)

  • May 1, 2012, 4:17 AM
    Chesapeake (CHK) disclosed yesterday the IRS is reviewing the controversial perk that allowed CEO Aubrey McClendon to buy a small stake in every oil or gas well the company drills. Chesapeake believes resolving the matter won't have a material impact on the company.
  • May 1, 2012, 12:10 AM
    Notable earnings after Tuesday's close: ACAS, AUY, BMR, BRCM, CAVM, CBS, CHK, CHSI, CVI, DDR, DEI, DVA, FISV, FLEX, GGP, GNW, MMI, OKE, OKS, OPEN, RGC, TE, TRIP, UNM, XCO
    | Comment!
  • Apr. 30, 2012, 5:35 PM
    Notable earnings after Tuesday's close: ACAS, AUY, BMR, BRCM, CAVM, CBS, CHK, CHSI, CVI, DDR, DEI, DVA, FISV, FLEX, GGP, GNW, MMI, OKE, OKS, OPEN, RGC, TE, TRIP, UNM, XCO
    | Comment!
  • Apr. 30, 2012, 3:19 PM
    Natural gas is flying higher, +4.7%, perhaps encouraged by the fact that producers are cutting back on drilling. "The Jeff Gundlach trade is having an insanely good day today," writes Joe Weisenthal. The bond man said last week he would like to go long natty/short Apple with 100X leverage. Apple -3.1%.
  • Apr. 30, 2012, 2:02 PM
    ETF U.S. Natural Gas (UNG +3.6%) jumps as noted energy analyst Stephen Schork says he's less bearish. A CFTC report showed Chesapeake (CHK) and ConocoPhillips (COP) are now net long on nat gas, which signals they're unwilling to sell future product at current price levels and would rather buy product in the future vs. produce it.
  • Apr. 30, 2012, 12:42 PM
    Chesapeake (CHK +3.6%) is upgraded to Outperform by BMO, which notes CHK has lagged other energy stocks by at least 20% in the wake of the McClendon controversy. Yet CHK boasts "a a deep and wide asset base, and one that has fundamental value," and uncertainties around low natural gas prices and asset sales are now reflected in the stock price.
  • Apr. 30, 2012, 7:38 AM
    The number of rigs drilling for natural gas in the U.S. falls to 613, the lowest level in 10 years as low prices force producers to cut back. Perhaps anticipating slowed production, gas prices last week pulled back from their free fall. The number of rigs drilling for oil was off a hair, but remains near a 25-year high.
    | Comment!
  • Apr. 29, 2012, 5:08 AM
    Reuters reveals more practices involving Aubrey McClendon that might raise further concerns about corporate governance and conflicts of interest at Chesapeake (CHK). McClendon allegedly took a loan from now-retired board member Frederick Whittemore in the late 1990s just as Whittemore was helping to set the CEO's salary.
  • Apr. 27, 2012, 10:49 AM
    There's a growing sense that "much more needs to be done" to restore confidence in Chesapeake (CHK -2%) than only letting the Founders Well Participation Program expire. Analysts say the board should separate the chairman and CEO positions or even fire the whole bunch, but "given the litany of historic indications and most recent indications, this board appears to be incapable of doing that."
  • Apr. 26, 2012, 2:20 PM
    The SEC has opened an informal inquiry into Chesapeake's (CHK -1.6%) program that granted Aubrey McClendon a share in each of the natural gas producer's wells, Reuters reports. Major shareholder David Dreman questions whether CHK's new statements that its directors had never reviewed or approved McClendon's actions were prompted by the SEC probe.
  • Apr. 26, 2012, 12:51 PM
    Jeff Gundlach stirs things up at the New York Yacht Club, the bond man telling a luncheon if he were master of the universe (isn't he?), he would be short Apple and long natural gas with 100X leverage (prev. on NG). On the Fed: There's no inflation only if you look at house prices and wages, and yesterday "added another dose of confusion" to the mix.
  • Apr. 26, 2012, 8:59 AM
    Last week: "The suggestion of any conflicts of interest is unfounded." Today, Chesapeake (CHK) says it won't extend its Founder Well Participation Program, which indirectly facilitated up to $1.1B in loans taken out by CEO Aubrey McClendon. "The board did not review, approve or have knowledge of the specific transactions engaged in by Mr. McClendon or the terms of those transactions." CHK -1.8% premarket.
  • Apr. 23, 2012, 5:25 PM
    New questions swirl around Aubrey McClendon's (CHK) borrowing $1.1B from stakes in company wells: Reuters reports he sold out of two company-controlled wells just as CHK was divesting those properties. Were the sales timed and structured to benefit McClendon's or CHK's interests? One analyst imagines a scenario where a financially strapped CEO might do a deal that's not the best price for the company.
  • Apr. 23, 2012, 2:11 PM
    You can shear a sheep many times, but you can skin him only once. The actions of Chesapeake's (CHK +3.3%) Aubrey McClendon aren't Enron-esque, but the actions - and CHK's legalese reaction - are remarkable in their tone-deafness, Kid Dynamite writes. CHK needs to understand that shareholders feel they may be getting sheared, and may react by bailing before they get skinned.
  • Apr. 20, 2012, 7:53 AM
    A Chesapeake Energy (CHK) shareholder files a lawsuit against CEO Aubrey McClendon, according to reports on CNBC. Shares of CHK -0.3% premarket, -6.1% post-McClendon story.
  • Apr. 19, 2012, 3:29 PM
    Chesapeake Energy (CHK -0.3%) trades flat a day after disclosure of the CEO's loan practices, and another analyst comes to its defense as BofA sees the news as “immaterial to the investment case” and yesterday's stock drop as “unfounded." Sterne Agee says the focus should be the “impact of prolonged weak gas prices on [CHK's] cash flow generation ability," hardly a ringing endorsement.
Visit Seeking Alpha's
CHK vs. ETF Alternatives
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.