A year ago, CHK purged many of it’s true leaders. People who would stand up for something, not be afraid to have dialogue or discourse in their realms of expertise. Many of those same leaders were valuable and paid as such. Experienced engineers were a big target, too. Of course 99% of those let go landed in much better situations. But the real shame is what was left over at CHK: the FIRST round of wells designed and stimulated are fracing into each other. The cost of remedial work on these wells will be far greater than the salary saved on the people they let go who were doing the jobs right.
The lack of experience and leadership here in OKC and out in the field offices is evident. There is NOBODY who is willing to make decisions in the best interests for safety and sustainable pricing and contracting.
I left campus last week, I am not looking back, selling my sh-- shares for the tiny-yet inflates- amount that it is worth, and placing my surest bet I can imagine: shorting CHK with my brokerage house.