Replies to This Discussion

Permalink Reply by sesport on January 10, 2009 at 5:09

IMHO, it depends on your source I imagine. I guess that's always a possibility in big business.

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Permalink Reply by mt.enterprise tx on January 10, 2009 at 5:11

i work in the oilfield and it keeps coming up at lunch with differnt customers of mine. none are great sources. just seeing if any of you all have heard the same.

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Permalink Reply by Les Bamburg on January 10, 2009 at 19:21

SG, Mobil was a merger rather than an acquistion (stock not cash). Whole different type of transaction and objective.

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Permalink Reply by Grillin' - MmmMmm on January 12, 2009 at 7:05

Agree with Jay. If you ask any XOM employee, they'll gladly tell you that this was an acquisition by Exxon, regardless of how the accounting was done.

XOM has almost $30MM in CASH MONEY in the bank. They could buy CHK, HK and EOG and still have money to give as bonuses and share buybacks!! However, don't know if this is the kind of play XOM would like...shale developments are treadmill developments and they don't tend to like these. But I wouldn't be surprised!

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Permalink Reply by Grillin' - MmmMmm on January 13, 2009 at 5:55

Sorry, that should be $30 billion with a BBBBBBBBBB.

They have more money in the bank than most BANKS have in the bank!

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Permalink Reply by Jack B2 on January 12, 2009 at 5:13

That's their MO. That is how they got a head of the competition in the first place when it was Standard Oil in the Ohio oil fields was it not?

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Permalink Reply by sesport on January 10, 2009 at 5:21

Thanks, it helps to know which end of the corporate/operating chain this info is coming from. Now I know where to start looking, or not looking and wasting my time, LOL. You've been most helpful.

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Permalink Reply by sesport on January 10, 2009 at 15:43

Thanks for the heads up, Gosh Darn. You have been lucky, indeed. Wish you & your family all the best in this venture. :0)

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Permalink Reply by Les Bamburg on January 10, 2009 at 19:18

MtE, are you speaking of ExxonMobil?

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Permalink Reply by mt.enterprise tx on January 11, 2009 at 5:46

yes i am. Like i said though, it was just talk that i heard. I was just looking to see if anyone else has heard anything that came from a reliable source. If Exxon did take over do you all think it would be a good thing? Because im kinda wishy washy on the idea of it. I do alot of work for them and they do not get in a hurry on anything. One good thing about that i guess is all ire leases would expire.

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Permalink Reply by Mister Z on January 12, 2009 at 7:48

For Exxon to buy Chesapeake now would mean they've done a 180-deg turn from their corporate direction of the last 30 years of divesting of low-margin, cost-sensitive production. The shale plays only work if you can control costs, and Exxon has never been the low-cost operator.

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Permalink Reply by Grillin' - MmmMmm on January 13, 2009 at 5:53

Very good point. But they are drilling Piceance Basin wells which are tight gas sand, multitudes of wells where the trick is drill it cheap, drill it faster, complete it effectively. So this might fit. As everyone knows, XOM is the best (fill in the blank) driller, completer, producer, etc....just ask them!!! LOL

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