mcadoo3312

Chesapeake Energy Continues to Shore Up Its Balance Sheet

Do you have proof of this? What does their receivables schedule look like as there is not much of a difference between A/R and A/P.


On Dec 02 10:16 PM SlipperyWing wrote:

> Debt is one thing, being mortgaged to the hilt is another.
>
> There are contractors (contract tool pushers, welders, excavators,
> etc) and service companies (SLB, HAL) in Oklahoma who have not been
> paid by Chesapeake in over 12 months. There are also working interest
> holders that have common interests with CHK that have not been paid
> for production in over 12 months (a 6 month lag is more typical).
>
>
> Chesapeake is essentially holding their money interest free, and
> have no desire to pay out.
>
> I suspect that you'll hear more about this trend after January 1st,
> when it makes sense for third parties to start demanding their money
> (why demand money in December and pay taxes on it for all of 2008).
>
>
> Chesapeake is in deep trouble, and their cash on hand won't even
> service their debt, much less pay off common interest holders.