Thread regarding Chesapeake Energy Corp. layoffs

Face Reality

CHK Peckers: Face it. This company is finished. What once was a fabulous company under Aubrey is now dead. Say what you want about Aubrey, but he never would have allowed the company to reach this embarrassing level.

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Post ID: @126ai5bg

12 replies (most recent on top)

Ok...AKM created the mess, but how long does Dougie get to fix it? 10? 15? Cause whatever they are doing isn't working. And don't give me the "it's so bad CHK is doomed". AKM made a ton of money, but Lawler has his own Ponzi scheme going. His is just in the form of a ridiculous paycheck from the company (cough shareholders money cough). But hey, that's OK because his initials aren't AKM and Dunham and Icahn hand picked him!

  • 7 years of absolutely driving CHK in the ground. For $20+ million a year, anyone could do that. Anyone!
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Post ID: @126ai5bg-5qnf

Lookout for the Raptors in the basement.. new initiative to avoid layoffs.. operation Darwin is a go. I hear the ducks will get laid off next.....world has gone quackers

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Post ID: @126ai5bg-4mma

APC team sold $10B of assets and only managed to shave $3B debt off the balance sheet. Good work! Thumbs up!

And how exactly was AEP a failure? Didn’t Aubrey raise a ton of capital in 2013 and ultimately spin off like 5 companies? Ever hear of Ascent? Don’t they own the Utica?

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Post ID: @126ai5bg-4mro

You didn’t see the stock fall that low because Wall Street had no idea what was going on!!! That’s the whole point, the company never made any money...but he did.

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Post ID: @126ai5bg-1cti

Landowners can always say no. And though he was far from perfect, we never saw the stock price fall below 60 cents with AKM at the helm. I recall s36ome knew Lawler would run the company into the ground from the jump.

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Post ID: @126ai5bg-1xay

FYI...Aubrey was an arrogant criminal. All of us in the O&G industry outside of OKC knew something smelled in the CHK Royal Palace. Now you guys are looking back and shaking your heads? Ha! we all smile a bit watching what is happening. Not because we want to see you & family struggle to figure out how to find employment and make ends meet in a battered industry, but because of CHK arrogance towards people in Houston, Midland, Pitt, Denver, Dallas, and Minot when things were really good and when things went bad for us.

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Post ID: @126ai5bg-1aar

The email explicitly states “throwing in 50/50”, which sounds like a perfectly legal and boringly common joint venture to me.

As for cooperating with the justice department, the new corporate governance of CHK was happy to throw Aubrey under the bus at the time to save them any more bad press or legal troubles given the existing bad blood. I don’t know what happened with Tom Ward, but I certainly haven’t seen any statements of wrong doing or apology. The latest I can find is some piddly $7 mil settlement offer from last year, highlighting what a nonissue this case turned out to be.

Seems like you have some unresolved issues. No one is saying investments in Aubrey always panned out. But you can’t deny that overpaying for acreage and drilling a bunch of marginal or uneconomic wells benefited land owners greatly.

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Post ID: @126ai5bg-xhd

That may sound that way to you, but it’s highly illegal. Why do you think the other defendants folded and turned witness if it was just nice business agreement where everyone benefits, especially the land owner, because Aubrey has a reputation of always looking out for the land owner doesn’t he?!

You realize that almost anyone with any real knowledge of what was going on laughs uncontrollably at you and your fellow disciples. It’s probably best that most of you don’t really leave OKC, this way you don’t actually have to confront the truth about David Miscavage, sorry, Aubrey. I have magic beans if you are interested in purchasing?

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Post ID: @126ai5bg-nkc

What you call "rigging the bid process" sounds like two companies working out a joint venture agreement to me. There are literally hundreds of other companies to go lease your mineral rights to if you are a dissatisfied landowner. Or don't lease your minerals at all.

I really don't understand how we live in a world where there are like 3 cell service providers, one or two cable / internet providers per neighborhood, one decent search engine, etc. and the justice department focus on antitrust and bid rigging laws was a medium sized domestic oil and gas company with flailing economics in large part for overpaying for acreage in the first place. LOL!

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Post ID: @126ai5bg-wlo

I love that defense! He conspired with another company to rig the bidding process so that he was guaranteed the acreage. That other company CEO then turned federal witness to save their own skin. What evidence do you think was presented to them to sing like a song bird?! Slam dunk?! It was an alley-oop! Don’t pretend that just because he was paying a higher rate than others that it was a fair value for the land owners. It also doesn’t matter what you pay, when you compromise and fix the bidding process it is ILLEGAL.

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Post ID: @126ai5bg-yqr

AKM built a reputation on overpaying for acreage. The mineral owners could have leased with anyone who wanted their rights or drilled wells themselves if the acreage was so valuable. Not so sure the case would have been a slam dunk.

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Post ID: @126ai5bg-fku

I think you are under the illusion that he wouldn’t be sitting in a prison cell right now. Do you not understand what happens to criminals when the Feds find enough evidence to prosecute? You should go look at their success rate on finding people guilty. They generally won’t try a case that they won’t win.

When will you people wake up and see that he is to blame for all of this. You can’t steal shareholder money and justify that as a survival tactic. Does anyone know how many wells were profitable under AKM?!

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Post ID: @126ai5bg-wqw

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