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Permalink Reply by DrWAVeSport Cd1 on January 19, 2012 at 11:29

Jay,

The great State of Louisiana granted CHK Energy the HS Operations of my section, thus I really didn't have a choice in that matter.  My choice was to stay UMO.  I have 4 neighbors who also remain UMO.  But most chose to become CHK royalty payees.   Neither side is happy with CHK. IMO   I feel I can only personally respond per CHK as an UMO.  

As An UMO dealing with CHK and their total disregard for any kind of mutually beneficial working interest "relationship,"  I am completely convinced CHK is incompetent -- except -- in the field.  Their "employees" who one is always "directed" to for "answers" to one's germaine questions per $, per accounting explanations, per one's written correspondence, etc., etc., etc., are either one of the two...unaware/don't know answers...or, "educated" in the art of the obfuscation, the non-response response.

Of course, Jay, I put myself in the position I am in (UMO), but I believe CHK Royalty Owners on par receive the same type "obfuscation." 

At least I am not alone...LOL

I do give credit where credit is warranted.   And, CHK seems to at least be reinvesting $$$ in their employees.   And, I might say, in quite progressive ways. 

However, per CHK UMOs and ROs, I expect CHK and CHK's Representatives to at the very least... meet me somewhere in the middle, and answer...answerable questions, with back-up documentation...  Show me.

That never happens. 

They owe me...  I don't owe them...  Not $1.

I don't ask more of CHK Energy, than I ask of my invenstment broker, banker, or 401K Manager.  I actually can go from $1 in... to $1 out, and I see their fees, debits and credits, etc.  When I have questions, they get answered on the very FIRST phone call.  Funny, I don't even have to submit any questions or demands for answers in writing to any of these individuals.  LOL 

Above all,  the individuals I deal with in everyday normal business, are quite informative, and have answers to my questions.  CHK uses its "energy" to push off and/or "supply" correspondence that completely ignores the question asked.  

If I ask you, What day it is?   And you answer,  The time is 2 o'clock p.m.   And I ask you again, But, Do you know what day it is?  And, again, you answer, in 4-5 Business days, I will have someone call you.  And then, in 4-5 business days, Someone else calls...  And, I ask them, What day it is...  And that new person answers,  It's about 4 o'clock now...  That's what it is like dealing with CHK!

I expect more.  I expect answers that back up CHK's "accountings" for my questions about my mineral estate...   I don't need to hear "what time it is." 

That's my beef.   

Fortune may rank CHK #18 out of 100 per their "employee" survey results (#18 out of 280 paticipating companies...), but I wonder had Fortune supplied CHK's UMOs and CHK's Royalty Owners...And, some of CHK's 800 Michigan "Lessors" they shafted...And, CHK stockholders (not MLP unit holders)... With a "survey"... Just how "high" their "Best Company" Practices Fortune Ranking would be then???

That's one reason CHK's common stock is in the tank.  IMO 

Nat gas @ 2.32...

DrWAVeSport Cd1 1/19/2012    

 

     

 

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Permalink Reply by DrWAVeSport Cd1 on January 19, 2012 at 12:45

Jay,

Say it isn't so.  LOL

My Best To You, Always.

 

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Permalink Reply by DrWAVeSport Cd1 on January 19, 2012 at 15:06

sesport II,

That's funny.  Guess most just decide to take their "complaints" straight to the courts.    

I don't find that many get much satisfaction from filing with the BBB.  

I just expect every morning, to sit down with a good cup of coffee and, instead of reading the newspaper, I just read about the latest lawsuit filed against Chesapeake Energy, et al. 

With Chesapeake, one needs to "speak softly and carry a VERY BIG STICK," aka...

LAWYER.  LOL  

 

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Permalink Reply by CB on January 21, 2012 at 5:42

Not after they go bankrupt, like Enron. They have a real nice Ponzi scheme going, but just as a dive in the stock market nailed Madoff; this dive in Nat gas will nail CHK and a few others.

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Permalink Reply by Two Dogs, Pirate on January 21, 2012 at 10:30

Aubrey ain't gonna let that happen as long as hes alive. You can bet he has a game plan.

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Permalink Reply by DrWAVeSport Cd1 on January 21, 2012 at 10:53

Jay,

Enron is a really bad comparison per CHK...  IMHO.  

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Permalink Reply by JMan on January 23, 2012 at 4:50

Funny since they just laid off a bunch of people.

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Permalink Reply by Katie McCullin on January 23, 2012 at 5:34

Hi JMan - there have been no mass layoffs at Chesapeake. In fact, companywide, Chesapeake plans to hire nearly 5,000 people in 2012.

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Permalink Reply by JMan on January 23, 2012 at 5:42

correct, I should have clarified.  They laid off about 300 brokers and they are also basically shutting in their gas wells, there will be more layoffs in the gas plays.  They will certainly hire more for their oil plays though.  

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Permalink Reply by Katie McCullin on January 23, 2012 at 5:45

Sure. With the lowest natural gas prices seen in a decade, Chesapeake rigs from dry gas plays will be moving to liquids plays. This doesn't equal a loss in jobs, as some might assume, as Chesapeake employees assigned to rigs are accustomed to moving with them. As stated in the Thursday press release announcing the Fortune ranking, we plan to add 5,000 people across our operating areas and do not have layoffs planned at today's activity levels.

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