GP continues to set new 52 weeks lows, daily. Can they afford the new building, a $1.8 B acquisition, rig commitments in OK and continue to drill OH at today's gas prices with less hedging at lower pricing. Is this CHK, act 2? They even named their cafe "Fuel". Who else had that name? oh yes, Chesapeake. Wall Street can't run fast enough.
2 replies (most recent on top)
There's a reason anyone with a brain bailed and got new jobs last year, like the CFO and COO.
I was considering picking up a little GPOR for my portfolio before the Vitruvian acquisition. I decided to hold off and see how the market reacted to such a huge leap into a resource play they know nothing about. Having a shiny new building in Oklahoma does not replace expertise. Glad I sat on my hands. It will take a long time to dig out of this hole, if they can at all. For a company that historically made every move with Wall Street in mind, they sure soiled their shorts on this one.