Chesapeake, the Utica Shale and History, Aubrey on Mad Money
I'm stunned after watching Aubrey McClendon's interview on MSNBC's Mad Money today. He is touting the Utica Shale in Ohio as the big game changer in oil and gas.
According to some estimates the Utica Shale may contain 38 trillion cubic feet of undiscovered gas. Aubrey controlled this interview with Mad Money and Jim Kramer. This was not an "interview", it was a PR announcement and I think it may be brilliant. I'd like to hear other ideas about his Utica Strategy.
One of his points about Utica Shale is that it is halfway between Cleveland and Pittsburgh in the heart of our traditional manufacturing belt. Aubrey likes history and I think he sees this play as the most historic in terms of changing our nations use of energy from coal and oil to natural gas. He is staking out Utica like a general would stake out a battlefield and he is absolutely correct. This corridor is the linchpin to our old manufacturing base and it's voters. Win the hearts, minds and wallets of that corridor and natgas becomes the leader in energy.
However, he also says oil is going DOWN to $24-$36 a barrel and $2 a gallon. What do you guys think of this? Has Aubrey gone crazy(ier) or, has he come up with a brilliant strategy for CHK and natgas?
Soooo, all of you who thought Aubrey McClendon was already dead and buried had better start watching horror movies. Aubrey's baaaaaak ... just in time for Halloween.
Views: 517
Replies to This Discussion
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Permalink Reply by Krkyoldhag on
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Aubrey M has had a bad year...we watched as he came to the brink. Who doubts that he will bring his company out of the abyss?
I hope he is right about natural gas. And I want to see gas back to pre Obama prices. But for oil to go that low would certainly be a game changer and upset a lot of balance sheets. He did put natural gas vehicles on the road in Louisiana; it lifts my spirits everytime I see one of them on the road. Can he do that across the country? Maybe. I would not bet against it.
Just can't see without world crash how oil could drop that much. I think ...if people see that we can supply our nation with oil that it might settle somewhere between $87 and $94.
Anybody out there got any ideas?
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Permalink Reply by MLE on -
CHK is nowhere near "the abyss."
Also, the Utica, especially where CHK has it's core leasehold, is primarily LNG and Oil.
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Permalink Reply by dingojoe on
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Reuters had an article recently about the lack of transparency of drilling in the Utica, though circumstantial evidence suggests it more of a gas play than oil, which is not what the drillers wanted
http://www.reuters.com/article/2012/10/22/us-ohio-shale-idUSBRE89L0...
Aubrey is a crackhead. I don't think anyone would want the global economic conditions necessary to bring oil down to that level, unless you a doomer. Don't know how he thinks CHK would make money at that price anyway.
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