Thread regarding Chesapeake Energy Corp. layoffs

Is this déjà vu?

Word on the street is CHK is going to pay 2.4 billion for Chief Oil & Gas.

CHK just exited bankruptcy, blaming high debt for their inability to avoid cheating their shareholders whose shares were cancelled.

In less than a year, CHK has incurred a staggering amount of new debt acquiring Vine and now Chief.

To add insult to injury, the clown who was the financial architect of the CHK disaster just got handed the keys to HH’s fiefdom/illusion.

Is part of the job description to run an exploration company today---must be willing to incur sui-idal debt ensuring that all profit will go to bankers who are too lazy to work, too stupid to create value.

When will we stop doing deals which enrich bankers and cheat everyone else?

A couple of months ago, someone wrote on this blog, explaining our bankruptcy, that the frauds who run CHK make every financial mistake in the book over and over. Indeed.

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Post ID: @OP+1eTDZGDH

17 replies (most recent on top)

Of course the numbers from a 10-Q are unaudited. It’s a 10-Q. The 10-K will be out soon.

Look a little deeper and you can see why there are large losses. There are unrealized derivative losses that are non-cash.

What non-GAAP numbers? If I mentioned anything that was non-GAAP please point it out. By the way, the cash flow statement is GAAP.

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Post ID: @9iot+1eTDZGDH

If Reality wasn’t trying to mislead, the first thing Reality would point out is that CHK is filing unaudited financials so the numbers are probably pure fantasy; and CHK has cash and manageable debt because CHK doesn’t pay its bills.

It’s not like CHK has this great position after having paid its bills. A large number of creditors, shareholders and the like got cheated so CHK is still in business. Any good news is not the result of some brilliant plans. It’s because CHK didn’t pay its bills.

Think of the number of people who could be successful in business if they didn’t have to pay their bills. Some trick…

The only important numbers are the ones on page 9 of the 11/2/2021 10Q. I’m seeing many Net Loss numbers even though CHK doesn’t pay its bills.

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Post ID: @9msg+1eTDZGDH

The folks running this blog removed all of the really good comments pointing out what a tool Reality is.

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Post ID: @9ike+1eTDZGDH

Reality shut the thread down?

Reality is the guy who was citing the non GAAP numbers and then when asked to point the numbers out in the 10Q came up with one meaningless number and failed to document 2/3rds of his meaningless numbers. That's the guy?

Why isn't reality talking about the massive losses CHK keeps posting?

People get tired of discussing the same incompetence by the same people with nothing but financial catastrophe in their work histories. Thinking about the incompetent, greedy people running the Shalers is very depressing to the people who love this business.

Thanks for the smarmy comment just the same. You contributed the same to this thread that you contribute at work: nothing

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Post ID: @9kcu+1eTDZGDH

Looks like Reality shut this thread down.

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Post ID: @8nan+1eTDZGDH

I heard Bloomberg Energy is going to release an article titled: D-mb and D-mber- Lawler and Viets: The Oklahoma City Story.

People are working up script for a movie.

Lester Diamond as Doug L (Lester was the character played by James Woods in Casino);

Lloyd Christmas as Josh V.

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Post ID: @6dna+1eTDZGDH

So they can pay back the f-kin $2 million they took from me??? Someone needs to go to prison.

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Post ID: @5dqq+1eTDZGDH

Evaluate Chesapeake however you want. I am just correcting misleading statements.

Go to SEC.gov. Enter the ticker CHK. Look at page 11 from the Q3 2021 10Q. That is the cash flow statement. Successor has $1.246 billion of operating cash flow. The ending cash balance is $858 million.

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Post ID: @5sqj+1eTDZGDH

Karen, you can claim gimmicks (GAAP accounting) but the cash flow statement exists so investors that can read can see where the cash went and came from. The income statement tells only part of the story. The SOCF doesn’t lie, especially the ending balance. If you want to know FCF add operating and investing together.

Where you studied is irrelevant and you only mentioned it because you can’t argue the facts. Wharton may be a good school (I have no idea), but their accounting department obviously needs some help.

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Post ID: @5eje+1eTDZGDH

Reality and Reality’s brother:

You 2 are holding yourselves out to be not only Honest Brokers of Information, but sophisticated.

You’re citing numbers from the Financial Statements. Most people when making such references give the page number in the 10Q’s or 10K’s where the information can be found. You not only don’t do that but you couch/obscure the information in juvenile quizzes. That’s curious.

Is the reason no reference is made to the page numbers because you are referencing NON-generally accepted accounting numbers that don’t appear in the statements filed with the SEC.

Aren’t the numbers you cite just fluff/beside the point, unrecognized by the AICPA. Numbers having been dreamed up by the Investing Community, not the Accounting Community, for purposes of misleading investors, obscuring incompetence and fraud?

Pappy always told me to concentrate on one number: how much did profit, net of all expenses (past, present and future) was generated.

I don’t know which junior college you two went to, but clearly there was no emphasis on ethics. Half the truth when represented to be the whole truth is in fact a lie.

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Post ID: @5dll+1eTDZGDH

What is CHK’s current debt? TOO MUCH AND UNDERSTATED

What is CHK’s cash balance? NOT ENOUGH AND MOSTLY BORROWED FUNNY MONEY--THE PEOPLE WITH THE HEDGES GOT THE CASH

What is CHK’s annualized operating cash flow? FRAUDULENT AND MISLEADING

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Post ID: @5shs+1eTDZGDH

Cleetus and Karen never took an accounting class. Lol, my gawd. Look at the cash flow statement. It has three sections - Operating, Investing, and Financing, in that order. Operating cash flow was over $1.2 billion.

Karen, the cancelled shares were worth $0. Go look at the court approved plan of reorganization.

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Post ID: @5mxl+1eTDZGDH

If we had an Operating Loss of 717 million during the first nine months there can be no free cash flow.
If we have any cash it has to be from the billion we borrowed through the BANKRUPTCY back stop financing.
Shame. Shame. Shame.

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Post ID: @4jnr+1eTDZGDH

I just looked at the 10Q filed 11/2/2021.
It says CHK had a net loss from operations of 717 million for the first 9 months of 2021.
The 10Q also noted Cancellation of Predecessor equity:
Preferred Stock: 5,563,358 shares.
Common Stock: 9,780,614 shares.
CHK cancelled 15 million shares of stock. What was the cash value of the cancelled shares?

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Post ID: @4omv+1eTDZGDH

The original poster is a liar. CHK incurred no debt to purchase Vine. Stock and cash deal. Do you people read financials?

Let’s take a test. Just three questions:

  1. What is CHK’s current debt?
  2. What is CHK’s cash balance?
  3. What is CHK’s annualized operating cash flow?
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Post ID: @3frh+1eTDZGDH

Very well said, I agree on all your comments, with exception of when you say “ the frauds who run CHK make every financial mistake in the book over and over. “
I believe that those are not mistakes, but crimes intentionally and recurrently perpetuated against your average Joe middle-class shareholder.

I just can’t fathom the immensity of the Ponzi scheme that CHK was born to be, still is and will be for the foreseeable future.

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Post ID: @fvw+1eTDZGDH

Let me guess, K & E is papering up the boondoggle?

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Post ID: @oco+1eTDZGDH

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