• 3 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 5 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 9 minutes This Battery Uses Up CO2 to Create Energy
  • 12 minutes Shale Oil Fiasco
  • 1 hour Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 21 hours Indonesia Stands Up to China. Will Japan Help?
  • 6 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 11 hours US (provocations and tech containment) and Chinese ( restraint and long game) strategies in hegemony conflict
  • 2 hours Beijing Must Face Reality That Taiwan is Independent
  • 22 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 1 day Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 13 hours Might be Time for NG Producers to Find New Career
  • 9 hours Trump has changed into a World Leader
  • 2 days Anti-Macron Protesters Cut Power Lines, Oil Refineries Already Joined Transport Workers as France Anti-Macron Strikes Hit France Hard
  • 2 days Phase One trade deal, for China it is all about technology war
  • 2 days Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
Alt Text

The Hottest Energy Conflict Right Now

Belarus has just bought two…

Alt Text

China Sees Jump In Gasoline, Jet Fuel Exports

A 99-percent utilization rate of…

Alt Text

U.S. LNG Booms As Natural Gas Prices Crash

Despite the recent collapse in…

Editorial Dept

Editorial Dept

More Info

Premium Content

Chesapeake Isn’t Dead Yet…

Chesapeake Energy (CHK) has been a controversial stock for years. Its co-founder, Aubrey McLendon, who left the company in 2013, was indicted in 2016 for allegedly conspiring to fix lease prices in Oklahoma, then died in a fiery, single-vehicle car crash the next day. Even before that, allegations of impropriety surrounded McLendon, who reportedly used corporate funds for all manner of personal expenses. Even without the personality issues, Chesapeake attracts controversy as one of the early adopters of and leaders in hydraulic fracturing, or fracking.

Emotions about the company, and therefore the stock, run high. That has made the job of the current CEO, Doug Lawler, difficult, but it has also made it an attractive stock for traders. CHK is down a massive 81% over the last year, but along the way there have been several rapid bounces, making it an attractive two-way trade.

The latest big drop came last week, when Chesapeake included a “going concern” warning in their 10-Q quarterly earnings filing with the SEC. CHK reacted as if bankruptcy were imminent, collapsing over fifty percent in a week. That isn’t that much of a surprise. There have been worries about CHK’s ability to continue in the past, so any official mention of a possible problem will be seized on and, given the volatility of the stock, produce a massive reaction.

A calmer look at what was actually said and at the situation at CHK, however, suggests that reports of the…




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play