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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
This is big Big BIG!!!!!!!!! Chesapeake Energy going under?
Posted by:
Barney Smith
()
Date: February 08, 2016 02:08PM
http://money.cnn.com/2016/02/08/investing/chesapeake-energy-stock-bankruptcy/index.html
Chesapeake Energy insists it's not plotting a bankruptcy filing.
The natural gas and oil giant was forced to issue a statement on Monday after its stock tanked over 50%.
Chesapeake (CHK) said it "currently has no plans to pursue bankruptcy."
Chesapeake stock rebounded off the lows on the news, but was still off 34% in recent trading. The stock hit several circuit breakers earlier in the day before being halted, so the company could release a statement.
The plunge was fueled by a Debtwire report indicating Chesapeake had recently started working with restructuring attorneys from Kirkland & Ellis to discuss "balance sheet options."
Chesapeake Energy insists it's not plotting a bankruptcy filing.
The natural gas and oil giant was forced to issue a statement on Monday after its stock tanked over 50%.
Chesapeake (CHK) said it "currently has no plans to pursue bankruptcy."
Chesapeake stock rebounded off the lows on the news, but was still off 34% in recent trading. The stock hit several circuit breakers earlier in the day before being halted, so the company could release a statement.
The plunge was fueled by a Debtwire report indicating Chesapeake had recently started working with restructuring attorneys from Kirkland & Ellis to discuss "balance sheet options."
Re: This is big Big BIG!!!!!!!!! Chesapeake Energy going under?
Posted by:
Cramer vs. Cramer
()
Date: February 08, 2016 02:12PM
Off topic, please.
Re: This is big Big BIG!!!!!!!!! Chesapeake Energy going under?
Posted by:
dF3km
()
Date: February 08, 2016 02:30PM
Chesapeake Energy is an Oklahoma Nat Gas producer - it doesn't really have to much to do with this area except someone was fond of the Chesapeake Bay. They may have a few wells around here, but this is an Oklahoma and Texas story.
Re: This is big Big BIG!!!!!!!!! Chesapeake Energy going under?
Posted by:
reality bites
()
Date: February 08, 2016 02:52PM
dF3km Wrote:
-------------------------------------------------------
> Chesapeake Energy is an Oklahoma Nat Gas producer
> - it doesn't really have to much to do with this
> area except someone was fond of the Chesapeake
> Bay. They may have a few wells around here, but
> this is an Oklahoma and Texas story.
^ This. Their headquarters are in Oklahoma City.
Also restructuring bankruptcy isn't 'big Big BIG'.
If it was, Donald Trump wouldn't be the front runner for the GOP.
He has done it four times.
http://www.politifact.com/truth-o-meter/statements/2015/sep/21/carly-fiorina/trumps-four-bankruptcies/
-------------------------------------------------------
> Chesapeake Energy is an Oklahoma Nat Gas producer
> - it doesn't really have to much to do with this
> area except someone was fond of the Chesapeake
> Bay. They may have a few wells around here, but
> this is an Oklahoma and Texas story.
^ This. Their headquarters are in Oklahoma City.
Also restructuring bankruptcy isn't 'big Big BIG'.
If it was, Donald Trump wouldn't be the front runner for the GOP.
He has done it four times.
http://www.politifact.com/truth-o-meter/statements/2015/sep/21/carly-fiorina/trumps-four-bankruptcies/
Re: This is big Big BIG!!!!!!!!! Chesapeake Energy going under?
Posted by:
pttLL
()
Date: February 08, 2016 03:05PM
It's a tool. Tool. Tool.
Re: This is big Big BIG!!!!!!!!! Chesapeake Energy going under?
Posted by:
Ying Ko
()
Date: February 08, 2016 04:45PM
.
Attachments:
Attachments:
Re: This is big Big BIG!!!!!!!!! Chesapeake Energy going under?
Posted by:
JK
()
Date: February 08, 2016 05:08PM
A company cannot (by law) announce they are planning to file Chapter 11, they just file when appropriate.
Re: This is big Big BIG!!!!!!!!! Chesapeake Energy going under?
Posted by:
NYSE:CHK
()
Date: February 08, 2016 07:05PM
dF3km Wrote:
-------------------------------------------------------
> Chesapeake Energy is an Oklahoma Nat Gas producer
> - it doesn't really have to much to do with this
> area except someone was fond of the Chesapeake
> Bay. They may have a few wells around here, but
> this is an Oklahoma and Texas story.
Lots of Fairfax residents own CHK through ETFs or mutual funds, if not directly. They are the second largest nat gas producer in all of the U.S.
-------------------------------------------------------
> Chesapeake Energy is an Oklahoma Nat Gas producer
> - it doesn't really have to much to do with this
> area except someone was fond of the Chesapeake
> Bay. They may have a few wells around here, but
> this is an Oklahoma and Texas story.
Lots of Fairfax residents own CHK through ETFs or mutual funds, if not directly. They are the second largest nat gas producer in all of the U.S.
Re: This is big Big BIG!!!!!!!!! Chesapeake Energy going under?
Posted by:
Rick Edelman
()
Date: February 08, 2016 11:17PM
The biggest natural gas producer in the US is, of course, Taco Bell.