Got letters in mail today showing where CHK is applying for CULs in sections EAST of Keatchie to drill the Haynesville
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CHK currently holds about 70 open well permits and is running six rigs in the LA portion of the Haynesville Shale Play.
For CHK to be ramping up in the Haynesville with Dec. 15 Nat Gas futures at $2.18 -
No wonder CHK's stock price is $5.21 and falling like a piano !
Debt service requires cash flow. Aubrey's legacy to CHK stockholders.
That is exactly what I thought Skip. They cannot stop drilling. Looks like 2016 will be an active one for CHK. I keep thinking & HOPING that someone like GeoSouthern will step up & buy the CHK leases in Haynesville--especially those contiguous to their EnCana acreage. I should ad the most of CHK proposals for drilling are in Holly Field & just WEST of Holly Field in Bethany Longstreet. Since we have small leases in both of those areas, we get all the letters from CHK attorneys notifying us of hearings
CHK bonds plunged over 10% yesterday and some of the bonds are trading under 50 cents. If will be interesting to see who ultimately collects the revenue from these wells. I would bet that it won't be the landowners currently suing CHK for past royalties.
Let's just hope someone buys part of their assets. Looking at markets there is insider stock buying & that is good. Carl Ichann stepped up his CHK bond buying in July. I think CHK is still viable IF it gets a strong co purchaser. They have a lot of good leases in strong areas in Texas & Louisiana. Those assets are long term & right investor will see that
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