Rumor's abound in the Oil Patch, heard a good one yesterday saying that BP may be getting ready to buy the majority of the Chesapeake Stock. Am hoping that this will take place and soon. Also that in the near future, natural gas prices will start to go up. Again, am hoping that this will also happen very soon.

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I  heard that BP rumor a couple of weeks ago from my very reliable source.

I need to correct my post. I head BHP would make a run at CHK--NOT BP

Well, like I've always said:

A . . . B . . . C.

Anyone But CHK.

So, sure.  If BP wants to play nice and clean up Aubrey's mess (ahem) -- then, yeah, depending on how BP does business on the leasing side, I'd certainly prefer to deal with BP than CHK (I guess).

 

Although, if I had my druthers, I'd rather sign a lease with Halcon or BHP Billiton.  But, y'know, there's no way Floyd has enough moolah to steal CHK from Aubrey, and it seems that BHP is now kinda running a bit cautious, so the odds are against BHP coming in to gobble up CHK.

Ergo, if it's BP; it's BP.  I mean, we'd certainly listen to what their landman had to say if it ever came down to a lease offer from BP.  Yep, we're dang lucky we never inked with CHK, that's for darn sure.

Is it BP as in British Petroleum or is it BHP Billiton? BPH Billiton has been buying interests in NG operators around here.

NO it is BP, I have done work for this company in the past and they are a great bunch of people. Do not let the Offshore problem bother you, all of my work has been with the Onshore group.  I do not feel we, the royalty owners, will have the problems we are having now.

I trust you, Mr. Smith.  You know your stuff per your many years and top credentials in P.E.  Your word is good enough for me.

Like you say, I'm sure BP will be shoulders above CHK.


The rumor I heard was out of Tulsa.. something is going on..we will know in a few weeks..

Lets hope CHK remains a viable company until changes are made.  Can you name one royalty owner that is happy with CHK?  NFR, BP, any of the others with leases from CHK and others can compare and I can tell you there is strange stuff going on on their statements with CHK...

Its not public opinion turning against them its their own royalty owners.

 

I lean toward the likely possibility of an Equity fund buy in. 

Well, BP has a number of HBP sections in DeSoto (old 1/8 leases) and permitted a number of HS wells but never drilled any of them.  In hindsight, I suppose it is a good thing that they didn't drill, but I doubt that BP will drill any of them until they are forced to.  I've got small holdings in several of those sections, and while I don't want to see my prime NG production sold below $3, I'd also like to think that I will see some production before I'm gone. 

Frankly, notwithstanding the comments of LGS in this thread, I've never heard much of anything good about BP's operations.  Presumably they have learned some lessons from their recent discomfort in the Gulf (and before Congress and the courts), so maybe they will clean up their act (pun intended).

CHK is ripe for the picking if a buyer who has the cash can stomach all of the leverage CHK has applied towards their assets.

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