What's the future for this department now that the snake has lost its head effective July 1?
Also, is this the tip of the iceberg for CHK? Stock price is tanking hard. Serious changes may be coming.
8 replies (most recent on top)
I saw that Archie Dunham bought a million shares recently for $14 per share, which he is already under water on since stock has tanked since his purchase. That is pure desperation to make it look like the company has a bright future which it does not in my estimation. At this point, CHK's debt has been significantly lowered making it a prime takeover target. It might happen this year, we'll have to watch and see.
chk will survive but it will have get a LOT leaner to pay for the sins of the past (McClendon, Jacobson and DellOsso deals). Get use to a leaner and much meaner chk.
Probably going to have to sell a major play off, or layoff employees. Think we could probably make it through the downturn cashflow-wise but the stock manipulation is just too painful short term. I mean looking at inst. ownership vs stock shorted, they are basically shorting stock they dpnt have, manipulation pure and simple. LNG probably will save the company long term but just a lot of short term pressure.
Does that mean the company is planning to no longer do A&D or will asset teams cover? I still remember the weekly (sometimes daily) emails about the properties the company purchased!
Can a drunken HR rep please spill the beans this weekend on the timing of A&D's disposal? Guessing before the 4th Holiday.
They will be cutting this department. Layoffs coming. This isn't news though....
It's a figure of speech. When a snake loses its head what happens to the body? It's dead. To be any more clear the entire snake is the department.
This company really is f'd if you had to think twice to figure out the original post.
Who is the snake?