![]() ![]() Source: Chesapeake Energy 10-Q and Morningstar/Fun Trading Oil equivalent price realized (composite) in $/Boe Long term Debt (including short term) in $ Billion Note: The numbers for 1Q'21 combine two periods: Chesapeake Energy - 1Q '21 Quarterly Financial Table: The Raw Numbers It will take a while before the confidence is restored, and an investment long-term can make financial sense. I consider CHK an excellent trading tool for short-term trading, but I am not recommending any long-term investment, even if the company is now paying an attractive dividend.īurn me once, shame on you. The investment thesis for CHK is based on a leap of faith that I am not prepared to make yet. But we have to put this in perspective - the company has had a huge change in strategy between what it was for the past eight years and what it is today. We're focused on free cash flow, capital discipline, and returning cash to shareholders, and being a good corporate citizen. There is no change from the post-emergent strategy. The company has also laid off 220 employees, or about 15 percent of its workforce, most from its Oklahoma City location.ĬEO Mike Wichterich said in the conference call: The company's new common shares will be listed on the NASDAQ Exchange under the ticker symbol "CHK" and are expected to commence trading on Feb. Under the court-approved plan, approximately $7.8 billion of debt has been equitized, and the company's preferred and common equity interests have been canceled as of Feb. emerged from Chapter 11 bankruptcy with a business plan focused on natural gas after recently pursuing crude oil production: ![]() On February 10, 2021, Chesapeake Energy Corp. Bankruptcy Court for the Southern District of Texas on June 28, 2020. ![]() Oklahoma City-based Chesapeake Energy ( NASDAQ: CHK) and 40 affiliates voluntarily filed for Chapter 11 bankruptcy protection in the U.S. FreezeFrames/iStock via Getty Images Investment Thesis ![]()
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