A more likely scenario is more layoffs. Company is still loaded with deadweights making $75K and more. They need to shed another 1,500 jobs to remain solvent in this environment of low energy prices. Even then, the 1,000 pound gorilla in the room—overwhelming CHK debt—may still prevail in the long run, leading to the eventual bankruptcy of the company. Another full year of oil under $60 BBL and gas under $3 MMBTU will surely be the nail in the coffin.
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Pure BS. And I'd love to see a sale. But it ain't happening. No one wants an over leveraged oil and gas company in okc. Don't forget they HAVE o take all the debt in a sale. Who wants 11 billion? No one.
talks with potential buyers have been going on for years but until now, no one was willing to pay the high price. now they can buy the assets on the cheap and wait it out, especially a larger operator like CVX or COP who have cash and have not made any acquisitions yet, unlike XOM or Shell.
Carl Icahn doesn't give a shit about the company and he'll definitely sell before he completely losses his ass!! He just endorsed Bernie Sanders and gave him millions for his campaign. Bernie is against big oil and gas companies. Not sure what's going on there, but that should make you ponder. Quit assuming nothing could happen to CHK. Better to be prepared.
Pure BS. With an investor like Icahn. Ain't happening unless he makes a premium. Right now a sale would not make him a premium on his investment. Do the math.
I actually heard the same thing from a credible source. They'd sell the assets and let the actual company go is what I heard.
No chance, we'll just file chapter 11 next summer, shed another 800 to 1000 jobs, and hope the stock stays above $5.
That statement is so 2013 and it's almost 2016! No one can borrow the money (or will part with their cash) and no one wants an okc based company with 11 billion in debt - no one. So CHK will trudge on even though the haters will continue to bring up this old tired beat down fiction.
Doubtful anyone would want to take on our debt.