cleller
6/11/2012, 05:01 PM
Luckily, the Thunder are the hottest topic in OKC these days, or the media might be running the Chesapeake (CHK) story into the ground. Not a shareholder, or anything, but this is a company that can really capture your attention.
Mostly I read about what's happening in the WSJ and online. Obviously, some of the board members have been replaced to satisfy some of the larger stockholders, lots of debt taken on, an IPO on a spin off of their oilfield services unit scrapped due to McClendon's overestimation of its value. I'm sure there are several other issues related to McClendon's loans still simmering.
I've also read that CHK could now be a takeover target. Specifically that Exxon Mobil might like to get ahold of CHK to increase their clout in the natural gas area.
I'm sure other names will be added to the list. This would be the main thing that would make me interested in CHK stock right now. The stock itself is risky, plus the overall shaky market. Timing is everything, eh?
When this all started hitting the fan, I just assumed McClendon would pull it out of the fire, and life would go on. Now it looks more and more like big changes might be in store. You think CHK will be still be a stand-alone company and back to business as usual in a few years? Whatever the outcome, I hope it works out for the best for all the people it employs; and hope it continues to expand in OKC.
Mostly I read about what's happening in the WSJ and online. Obviously, some of the board members have been replaced to satisfy some of the larger stockholders, lots of debt taken on, an IPO on a spin off of their oilfield services unit scrapped due to McClendon's overestimation of its value. I'm sure there are several other issues related to McClendon's loans still simmering.
I've also read that CHK could now be a takeover target. Specifically that Exxon Mobil might like to get ahold of CHK to increase their clout in the natural gas area.
I'm sure other names will be added to the list. This would be the main thing that would make me interested in CHK stock right now. The stock itself is risky, plus the overall shaky market. Timing is everything, eh?
When this all started hitting the fan, I just assumed McClendon would pull it out of the fire, and life would go on. Now it looks more and more like big changes might be in store. You think CHK will be still be a stand-alone company and back to business as usual in a few years? Whatever the outcome, I hope it works out for the best for all the people it employs; and hope it continues to expand in OKC.