Stock down 27% over last year and crude is up to $70/bbl things aren’t adding up
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I was thinking about this yesterday. While a lot of Chesapeake’s peers & competition are doing well (and busy) with $50-60bbl Chesapeake stocks can’t do sh!t unless there is $70bbl oil. Question is, can they get busy with $70 oil.
A friend of mine that does contract work for another company had to coordinate & organize 12 rig ups in 12 hours in kingfisher county last week.
Just an example of how Chesapeake isn’t a player
Chesapeake Energy's stock suffers biggest drop in 2 years, after oil prices plunge