Check out some of the latest dockets. People owed by CHK requesting permission to pursue the debt, regardless of bankruptcy proceedings. You know what that foreshadows? A high likelihood of liquidation. Companies owed massive amounts of money will be in a race to collect all they can before all of this is liquidated. Kirkland & Ellis know this. Attorneys representing opposition know this. Your execs know this. Employees are kept in the dark. Typical CHK management. What this all translates to is much more laying off. Be smart and get ahead of it.
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- 9 billion in total debt and 6 billion unsecured - bye Felicia. You’ll be lucky if payroll clears in forth quarter.
Halliburton owed 1.9 billion and Wildhorse acquisition was the lead weights sinking the infamous “Flying Dutchman” that is Chesapeake.
Worst run business in O&G.
You are exactly correct. Cities Service Oil and Gas was in a bind. They were bought out by Occidental Petroleum in late 80’s. Oxy sold the Tank farms, Pipelines and Refineries to Venezuela, to pay off debt. They kept the best Production assets. Pretty sure History will probably repeat itself.
Hahaha, if you think CHK stock was an “investment”, I suggest you find yourself a new profession.
Anyone still there as a foreman or above confines this c-ap and should be considered nothing more than a l***er. Especially in STX with the so called senior leadership there.
They could have given the people who worked for them more respect by giving them heads up about the layoffs. Everyone knew it was coming but a couple weeks notice would have been nice.
1289 just about says it all.
That is why some employees negotiated getting out of there because the longer you stay, you may not obtain anything.
After your debt is unloaded into the abyss, bad pipeline contracts are negated, and you trash can the bad assets and a lot more employees, CHK will be bought for the gas assets and your current execs will get a massive payday for all their hard work. You all will get nothing. CHK will be no more. Give it about 6-10 months.
Pure hyped BS. Just trying to stir up c-ap. I’m just hoping that they liquidate the unprofitable assets and there are several of those. Keep the good ones. She’d a 1000 more people. Change the name of the company and move it’s headquarters out of okc. Fresh start away from the thousands of okc haters. That would be a dream come true for me as an investor.
aka Chapter 7. Going out of business sale.