Is Chesapeake Filing For Bankruptcy - GoHaynesvilleShale.com2024-03-28T10:47:10Zhttps://gohaynesvilleshale.com/forum/topics/is-chesapeake-filing-for-bankruptcy?feed=yes&xn_auth=noThe last asset sale was their…tag:gohaynesvilleshale.com,2020-04-20:2117179:Comment:39016592020-04-20T14:29:22.966ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>The last asset sale was their Utica stake and that was 20 months ago. That due diligence phase is long past. IMO the debt hole is too deep although I do expect that CHK will be drilling right up to the end unless there is a pre-packaged bankruptcy.</p>
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<p>The last asset sale was their Utica stake and that was 20 months ago. That due diligence phase is long past. IMO the debt hole is too deep although I do expect that CHK will be drilling right up to the end unless there is a pre-packaged bankruptcy.</p>
<p></p> I don't have a list handy for…tag:gohaynesvilleshale.com,2020-04-20:2117179:Comment:39014232020-04-20T14:21:52.787Zawharrishttps://gohaynesvilleshale.com/profile/awharris
<p>I don't have a list handy for their divestitures but they have had offerings on all auction houses for a while now. They have been spinning off non-core assets in all of their basins to service their debt. Their most profitable asset now has to be NEPA Marcellus. They have 3 rigs running and are looking at picking up a 4th.</p>
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<p>I don't have a list handy for their divestitures but they have had offerings on all auction houses for a while now. They have been spinning off non-core assets in all of their basins to service their debt. Their most profitable asset now has to be NEPA Marcellus. They have 3 rigs running and are looking at picking up a 4th.</p>
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<p></p> Any idea of what assets previ…tag:gohaynesvilleshale.com,2020-04-20:2117179:Comment:39013472020-04-20T02:34:04.346ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>Any idea of what assets previously sold were still in due diligence phase? What are CHK's core assets now?</p>
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<p>Any idea of what assets previously sold were still in due diligence phase? What are CHK's core assets now?</p>
<p></p> The word was that those laid…tag:gohaynesvilleshale.com,2020-04-20:2117179:Comment:39015662020-04-20T02:25:28.139Zawharrishttps://gohaynesvilleshale.com/profile/awharris
<p>The word was that those laid off were from assets previously sold and in the due diligence phase. They had to be kept on during the transition. This is common. From what I see, don't put the nail in CHK's coffin yet as they don't seem to be slowing down in their core assets. Nothing would surprise me now though.</p>
<p>The word was that those laid off were from assets previously sold and in the due diligence phase. They had to be kept on during the transition. This is common. From what I see, don't put the nail in CHK's coffin yet as they don't seem to be slowing down in their core assets. Nothing would surprise me now though.</p> Chesapeake Energy lays off 20…tag:gohaynesvilleshale.com,2020-04-16:2117179:Comment:39009082020-04-16T22:01:33.541ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p><strong>Chesapeake Energy lays off 200 Oklahoma employees</strong></p>
<p><a href="http://www.reuters.com/">Reuters</a>April 16, 2020</p>
<p>April 16 (Reuters) - Chesapeake Energy has laid off 200 employees in Oklahoma, the state said on Wednesday.</p>
<p>Half of the job cuts were at the company's Oklahoma City headquarters and half were in the oilfield, according to Oklahoma Office of Workforce Development.</p>
<p><strong>Chesapeake Energy lays off 200 Oklahoma employees</strong></p>
<p><a href="http://www.reuters.com/">Reuters</a>April 16, 2020</p>
<p>April 16 (Reuters) - Chesapeake Energy has laid off 200 employees in Oklahoma, the state said on Wednesday.</p>
<p>Half of the job cuts were at the company's Oklahoma City headquarters and half were in the oilfield, according to Oklahoma Office of Workforce Development.</p> yep, we are at that "can we j…tag:gohaynesvilleshale.com,2020-04-16:2117179:Comment:39007382020-04-16T00:38:36.046ZSteve Phttps://gohaynesvilleshale.com/profile/StevePorter
<p>yep, we are at that "can we just get this over with" point.</p>
<p>yep, we are at that "can we just get this over with" point.</p> At the number of shares prior…tag:gohaynesvilleshale.com,2020-04-15:2117179:Comment:39007352020-04-15T23:30:45.866ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>At the number of shares prior to the split, $26 would be 13 cents per share. At $1, that would be a half a cent per share. I'd say to those who have not sold their stock before now, it's too late. Don't bother. I truly wish Aubrey was around to see this. Hubris is common in the "C" suites of O&G companies.</p>
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<p>At the number of shares prior to the split, $26 would be 13 cents per share. At $1, that would be a half a cent per share. I'd say to those who have not sold their stock before now, it's too late. Don't bother. I truly wish Aubrey was around to see this. Hubris is common in the "C" suites of O&G companies.</p>
<p></p> The stock split was to keep f…tag:gohaynesvilleshale.com,2020-04-15:2117179:Comment:39007332020-04-15T21:27:49.436ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>The stock split was to keep from being de-listed. Immediately after the 1 for 200 split I think the stock was at $26 per share. Now it is $16. Soon to be $1?</p>
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<p><strong>Chesapeake Energy’s Reverse Stock Split Won’t Solve Its Debt Problem</strong></p>
<p>By <a href="https://www.barrons.com/authors/8517?mod=article_byline">Avi Salzman</a> April 15, 2020 3:00 pm ET </p>
<p><strong>At the end of 2019, the company was carrying $9.5 billion in net debt.…</strong></p>
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<p>The stock split was to keep from being de-listed. Immediately after the 1 for 200 split I think the stock was at $26 per share. Now it is $16. Soon to be $1?</p>
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<p><strong>Chesapeake Energy’s Reverse Stock Split Won’t Solve Its Debt Problem</strong></p>
<p>By <a href="https://www.barrons.com/authors/8517?mod=article_byline">Avi Salzman</a> April 15, 2020 3:00 pm ET </p>
<p><strong>At the end of 2019, the company was carrying $9.5 billion in net debt.</strong></p>
<p><a href="https://www.barrons.com/quote/CHK">Chesapeake Energy</a> executed a 200-for-1 reverse stock split late Tuesday, reducing its share count and propping up its stock price. The change may save the company from having its shares delisted, but it won’t change the company’s debt problems. Investors with more than 200 shares will get one share for every 200. Anyone with fewer than 200 shares will receive cash for their shares.</p>
<p>The stock had fallen to 13 cents on Monday, and was at risk of being delisted. A delisting would have triggered a $1 billion preferred-stock offering, Credit Suisse analyst William Featherston noted. So the reverse split was a smart move. But Chesapeake’s debt position remains precarious and, clearly, investors aren’t convinced that the split will change its fortunes. Shares dropped 36% Wednesday afternoon to $16.80 as the <a href="https://www.barrons.com/quote/index/SPX">S&P 500</a> lost 1.7%.</p>
<p>Featherston’s price target on the stock is $1.</p> The true value of minerals is…tag:gohaynesvilleshale.com,2020-04-12:2117179:Comment:39001292020-04-12T18:38:48.562ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>The true value of minerals is what a willing seller and a willing buyer can agree to. I've run across mineral owners that think the bonus paid has some relevance on value of their minerals, it doesn't. That being said those entertaining a sale need to do some homework and know the details of their minerals, prospects for future wells, remaining reserves and how to access all that information. It's not hard. We discuss how to often here on GHS. There is even a SONRIS Help Group page. …</p>
<p>The true value of minerals is what a willing seller and a willing buyer can agree to. I've run across mineral owners that think the bonus paid has some relevance on value of their minerals, it doesn't. That being said those entertaining a sale need to do some homework and know the details of their minerals, prospects for future wells, remaining reserves and how to access all that information. It's not hard. We discuss how to often here on GHS. There is even a SONRIS Help Group page. And it is pronounced "Sunrise", not sohnriss. :-)</p>
<p></p> I'm a land and mineral owner…tag:gohaynesvilleshale.com,2020-04-12:2117179:Comment:39002632020-04-12T18:11:16.469ZSteve Phttps://gohaynesvilleshale.com/profile/StevePorter
<p>I'm a land and mineral owner in DeSoto and Sabine Parishes. I've had my issues with CHK over the years. My lease with CHK had the "no costs" deduction addendum, so I've not had to deal with the issues you are complaining of. My problems with them have mainly derived from their mad dash to get things in place back in 2009 - 2011, when many mistakes were made in allotting ownership within units, survey plat mistakes, etc. Nuts and bolts stuff for royalty owner…</p>
<p>I'm a land and mineral owner in DeSoto and Sabine Parishes. I've had my issues with CHK over the years. My lease with CHK had the "no costs" deduction addendum, so I've not had to deal with the issues you are complaining of. My problems with them have mainly derived from their mad dash to get things in place back in 2009 - 2011, when many mistakes were made in allotting ownership within units, survey plat mistakes, etc. Nuts and bolts stuff for royalty owner management.</p>
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<p>Skip mentioned it, and now Marie has mentioned it, so a reasonable discussion could be had over "the true value" of our minerals. As Skip mentioned, CHK drove up the bonus payments back in those early years, and those who collected any bonus in excess of $10,000/acre, IMO, received far more than what your rights were worth. There were many who received $15K or higher as bonuses. Time has shown that, even if the price of gas had stayed above $3, the operators overpaid for the rights they obtained. </p>
<p>Since my largest and best located holdings are held by CHK, and only one well drilled per unit, my fervent hope is that another operator ends up with that lease.</p>