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  • Chesapeake Energy Unlikely To Remain this Cheap [View article]
    Aubrey McCendon is a land man dumb ass.
    They have monsterous values assigned to leases which will neve be drilled. They've paid $2,000 / acre for leases that are worth $20 / acre.
    Sure, they have production. And it is declining. They don't have to shut in anything to have it go down. The production people are so focused on immediate production that they are damaging long term reserve recovery.

    The Pickens plan is nonsense. The costs are so much greater than the rewards that it is obvious that Pickens has lost it.

    This company has risked everything on very fast rising energy costs. They lost and will go bust. When the reserves are economic to develop, they will be developed. By someone other than McClendon and Pickens.
    Nov 02 00:33 am |Rating: 0 0
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