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. [View news story]
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Spread has narrowed vs. 30 yr. bond, but to me this is still a huge positive factor for JNJ. That anyone would prefer the lower yield 30 yr. bond over a quality company that raises the dividend every year always has me bewildered.
Also, it is hard to quantify, but I think likely that drug companies will do very well under Obamacare stating in 2014.
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Looking at your numbers, PWE shows no production growth this year. EOG growth for this year projected about 25%. Perhaps that accounts for PWE's "gross undervaluation in comparison to (its) U.S. peers"?
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Pauliene -- Their problem, I suspect, is that if they cut drilling, many leases will expire un-drilled, leading to more write offs. Trying to sell the leases so far is not going well. Also to cut drilling cuts future production and revenue.
CHK may be lucky enough to pull out of it, but this company is in a death spiral. The one thing that can save them is sharply higher prices.
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Devon Shire --
You could also add CHK's Eagle Ford leases to your list. CHK until recently said that land was worth $30k-$60k per acre. Recent transactions are in the $6k area. It will be interesting to see what they get for their proposed sale here.
I don't see any reason to avoid PCL (or any other timber REIT). PCL has about $3 billion debt and $8.7 billion market cap for enterprise value of $11.7 billion. It owns 6.4 million acres, so buying it is like buying timber land at $1,830 per acre. This is not high in relation to what timber land is selling for. With it you get expert land management and a 3.16% dividend.
Timber land is a real asset that will have real value when paper assets eventually flounder. Lumber is in a nice recovery due to the improving housing market, and a lot of sawmill capacity was shut down during the downturn. It was a steal 18 months ago and $20 cheaper, but not bad now, in my opinion.
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CHK produces about 3 BCF per day. U.S. production is about 70 BCF per day. You say CHK is, "Largest U.S. natural gas producer (gross), ~9% of total " What is your definition of gross production?
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. [View news story]
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Also, it is hard to quantify, but I think likely that drug companies will do very well under Obamacare stating in 2014.
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Not sure I agree. The asset sales are needed to fund current operations. Would be nice if they were paying down debt, but that is not the case.
These Energy Companies May Be The Next Acquisition Targets Of The Chinese Suitors [View article]
Chesapeake Energy: As Operating Performance Improves, Debt Remains A Worry [View article]
Their problem, I suspect, is that if they cut drilling, many leases will expire un-drilled, leading to more write offs. Trying to sell the leases so far is not going well. Also to cut drilling cuts future production and revenue.
CHK may be lucky enough to pull out of it, but this company is in a death spiral. The one thing that can save them is sharply higher prices.
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Chesapeake Energy Loses Money On Its Recent Sale Of Marcellus Acreage [View article]
You could also add CHK's Eagle Ford leases to your list. CHK until recently said that land was worth $30k-$60k per acre. Recent transactions are in the $6k area. It will be interesting to see what they get for their proposed sale here.
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Timber land is a real asset that will have real value when paper assets eventually flounder. Lumber is in a nice recovery due to the improving housing market, and a lot of sawmill capacity was shut down during the downturn. It was a steal 18 months ago and $20 cheaper, but not bad now, in my opinion.
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What is your definition of gross production?