Replies to This Discussion

Permalink Reply by Bill G on October 16, 2008 at 3:14

CHK Current trading volume...

Volume: 77,601,980
Avg Vol (3m): 26,458,200

This buy out is coming.....question is how low will they let this stock dive before they purchase these asetts....you know it will be lower than 18 because thats were ol honest aubry dove out the window...LOL

Permalink Reply by RAZORBACK on October 16, 2008 at 3:18

With BP deep pockets, could we expect leasing to resume?

Permalink Reply by Bill G on October 16, 2008 at 3:36

I would think so and sure hope so, maybe not at the 20-30K mark but I would think you would still get a fair market value for your lease. 10-15K in hot areas and 5-10 surrounding and 0-5K in speculation areas, this is just an opinion though. I based this on the amount of gas that is in the ground, If there is what they say there is down there than they will have to pay you well for it or there will be some one that slips under them and does (XOM example) Thats as long as we still live in a Capitolist society.

Permalink Reply by RAZORBACK on October 16, 2008 at 3:56

MORE MOVES BY CHK
Chesapeake Energy Corporation Announces Closing of Revolving Bank Credit Facility for Chesapeake Midstream Partners, L.P.
OKLAHOMA CITY, Okla., Oct 16, 2008 (BUSINESS WIRE) -- Chesapeake Energy Corporation (NYSE:CHK) today announced that it has closed a new secured revolving bank credit facility for an affiliate of its unrestricted subsidiary, Chesapeake Midstream Partners, L.P. ("CMP"). The facility, which matures in October 2013, has initial availability of $460 million and may be expanded up to $750 million at CMP's option, subject to additional bank participation. CMP plans to utilize the facility to partially fund capital expenditures associated with building additional natural gas gathering and other systems associated with Chesapeake's active drilling program in various plays, including the Barnett, Haynesville, Fayetteville and Marcellus Shales.
Twelve financial institutions participated in the facility that was jointly led by Wells Fargo Bank, National Association and RBS Securities Corporation d/b/a RBS Greenwich Capital. Additionally, Wells Fargo Bank, National Association acted as sole Administrative Agent, The Royal Bank of Scotland plc as sole Syndication Agent and Bank of Montreal as Documentation Agent. CMP's affiliate, Chesapeake Midstream Operating, L.L.C., is the borrower under the revolving bank credit facility.

Permalink Reply by Grillin' - MmmMmm on October 17, 2008 at 4:34

"What's not clear is if BP is willing to pay close to what these properties were fetching in September, before the credit crunch and a 13% drop in gas prices, or whether Chesapeake, of Oklahoma ..."


What an idiot this newspaper "reporter" is. OF COURSE THEY WON"T BE WILLING TO PAY AT THOSE PRICES!! What could possibly be "not clear" about today's market??? Would you go to the gas station and pay $3.75/gallon today? CHK used extreme leverage against BP and Plains in getting those deals earlier this year. This time, it will be BP, or OXY, or XOM, or a bunch of others using that leverage against CHK! Two worst times to sell oil/gas assets: 1) when prices are way down, and 2) when everyone in the world knows you need to raise cash QUICK! CHK is in both of those areas today! Look for a deal at 50% of what they got from Plains/BP earlier this year.

Permalink Reply by buzzy on October 16, 2008 at 5:10

Can you please copy and paste the entire article? The Wall street will not let you view unless you subscribe. Thanks.

Permalink Reply by nisie, not a happy camper landowner on October 16, 2008 at 5:24

http://online.wsj.com/article/SB122410626737637859.html?mod=googlen...

Permalink Reply by nisie, not a happy camper landowner on October 16, 2008 at 5:26

This link still didn't work, but I did read full article by googling