Any news on restructuring? Is IT going to be outsourced?
13 replies (most recent on top)
The gas is there. It is trapped with NO market or infrastructure to get it to market. SWN is paying to renew a large % of the acreage. The gas that is being sold is being sold for less tha a buck an M. Nymex is $2.00 plus. Mueller said it will take $4 to make it work. Here's to the stock of SWN to continue its rise. It has gotten too expensive for a takeover...
I can't expand much on how intelligent the CHK deal was, from a deal structure perspective, because I don't know the details of the deal.
However, as another poster pointed out, the acreage acquired in this deal has multiple stacked pays.
Plus, SWN leadership indicated their strategy was more slanted towards the impending construction of LNG facilities on the east coast that would open the gas market up to exports to international destinations.
I fully realize and have no issue with a company taking risks. Its the nature of the energy industry. There may have been deficiencies in the timing or the deal, but I have little doubt the venture will eventually pay dividends.
Unfortunately for many of us, the price was far greater than what many of can stomach. But I'm going to wait patiently and hope that SWN stock has the intestinal fortitude to last long enough to realize the returns management was banking our careers on.
How was the chk deal a fiasco? Did they over pay, I would say yeah. They also have great acreage in the heart of the marcellus, oh and it's a stacked play. Swn can hit 3 plays on this acreage that are all better then the fayetteville shale.
CHK was a fiasco. Southwest forgave over $500 million in defects so the deal could be closed before the end of 2014. No hedging, no financing, but Sherrick gets a big fat bonus for closing before years end. Because of the greed of Mueller, Sherrick and Hresko, over 1200 people lost their jobs. Way is no better than the rest of them. They used the blood, sweat and tears of all the employees, making a mockery of the "formula" and pocketed millions.
They all do have one great thing to worry about. They think they are above everyone else. They are greedy, evil creatures and eventually will be answering before God. They have no chance but to spend an eternity in hell!! Money will mean nothing!!!
@GXseEWx-4nsf very well said! Also, Sherrick and Owen (according to the proxy stmt) got "V+ awards" totaling $2MM b/c of their work on the uninformed CHK acquisitions. You got to be kidding me!! What kind of company grants a bonus when you don't even know the success of the acquisition? It says the money was paid for "retention." Like Sherrick and Owen can get another job... (the proxy stmt has some errors. in some places it spells Owen with Own..do control F and find "own" and see the errors for yourself)
Ponder is gone to Vitruvian III. New COO. With his track record in exploration, in my humble opinion, Vitruvian III will fail as badly as the exploration program at Southwest. Anyone thinking about a move to Vitruvian III, should think twice before signing on. Richard Lane is no longer going to be a part of it. Vitruvian II hasn't even sold yet. It will be Thaeler and Ponder running V 3! Hresko is gone from Southwest. . She, Sherrick and Mueller are to blame 100% for the Chesapeake fiasco. But, then again, they both worked at Houston Exploration, another failed company thanks to Mueller, Sherrick and Hresko. But the higher blame belongs to Harold Korrell. He hand picked Mueller, because they were buds from Colorado School of Mines.
Now you have Bill Way. He has very little corporate experience and the Board, after voting Mueller out, voted Way in. This entire board needs to be replaced. I voted against all board members being retained, including Way for my shares. The company went south under the guidance of Steve Mueller. But, fortunately for him, he walks away a millionaire many times over. This is a prime example of corporate America and over paid executives. The formula is a cartoon joke!!! It was raped, pillaged and plundered by the previous and existing management.
When someone posts "in fact" on this site, with no further explanation of why they believe their information is factual, it makes me wonder.
It may be true, but all we have is someone posting "in fact" with no back story as to why they believe their information is factual, or even leaning towards factual.
It would be nice to get a little more detail instead of a hit and run comment. If it turns out to be true, I feel for those who would be impacted.
@GXseEWx-3xlg OMG! No Way! When?! This is so sad.
IT is in fact going to be outsourced...bye bye BIS.
Bolander was already gone. Did Ponder retire from Exploration?
Bolander
Who?
SVP in Exploration 'retired' - i am to understand ...