I believe the downfall began when the shareholders started forcing AKM et al to start drilling for oil. No the company may not still be surviving, but the debt ration would be a bit lower.
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I have been in the industry since 1975. Experience in every aspect of drilling, production and operation for profit. I have watched CHK from the 90's. In my opinion CHK and many other resource players are wealth redistribution companies first and oil and gas companies second. Most all Officers and Directors of public companies are so far removed from the oil field they cannot begin to understand and really don't care about drilling economic wells. High finance and creative accounting are the focus. The wells and reserve claims serve no other purpose than to enabled this group to get rich fracing Wall Street, So how can anyone expect Doug or anyone else to come in and fix this?
HAHAHAHAHAHAHA!! Now that's funny!!!
Correct. You are an idiot. Doug did not ruin CHK, Doug saved it. If AKM was able to keep going like he was, the company would be out of business by today, and it would have a detrimental effect on the economic health of the city.
You are an idiot