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Started By
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So, Is Chesapeake in real trouble?.....stock offering...
Posted on 12/2/08 at 4:30 pm
Posted on 12/2/08 at 4:30 pm
sounds troubling, especially given their current market price.....current debt and cash flow must be hurting worse than stated earlier.
3
Posted on 12/2/08 at 4:34 pm to TigerStuckinOkieland
It doesnt look good, it's already ridiculously diluted.
Posted on 12/2/08 at 4:41 pm to Checkmateking2
Yeah, not looking good.
Posted on 12/2/08 at 5:24 pm to TigerStuckinOkieland
I am under the impression that all of their leases are held by production, i.e. they have to sink a shitload of $ into the ground or lose their leases
Posted on 12/2/08 at 5:49 pm to Putty
quote:
I am under the impression that all of their leases are held by production, i.e. they have to sink a shitload of $ into the ground or lose their leases
I think it's the opposite, isn't it? They've leased a shitload of acreage with a 3-year clock ticking in their face and they can't get leasehold UNLESS they poke 5000 or so holes in the ground (not to mention the 6-8 per section that they are eventually claiming to do.)
Posted on 12/2/08 at 6:02 pm to Tiger JJ
If you're talking Haynesville Shale, then Jersey is right.....will need to drill wells to get them to HBP status....
Jersey, I'm hearing that they may start drilling conventional (vertical hole) wells, and forego the laterals/horizontals until a later date...would allow them the HBP the acreage and drill more acreage cheaper and quicker....
Not sure how the LA Dept of Natural Resources will look upon this for approval of spacing/unitization rules for drainage, but my guess is that it would get approved.
Jersey, I'm hearing that they may start drilling conventional (vertical hole) wells, and forego the laterals/horizontals until a later date...would allow them the HBP the acreage and drill more acreage cheaper and quicker....
Not sure how the LA Dept of Natural Resources will look upon this for approval of spacing/unitization rules for drainage, but my guess is that it would get approved.
Posted on 12/2/08 at 6:31 pm to TigerStuckinOkieland
quote:
Jersey, I'm hearing that they may start drilling conventional (vertical hole) wells, and forego the laterals/horizontals until a later date...would allow them the HBP the acreage and drill more acreage cheaper and quicker....
Disappointing. Looks like it will be years (perhaps many years) if ever for the Arklatex to get its big shale payoff.
Posted on 12/2/08 at 8:30 pm to Tiger JJ
Chesapeake pisses away money like they own the printing press.
Posted on 12/2/08 at 10:12 pm to Tiger JJ
quote:
think it's the opposite, isn't it? They've leased a shitload of acreage with a 3-year clock ticking in their face and they can't get leasehold UNLESS they poke 5000 or so holes in the ground (not to mention the 6-8 per section that they are eventually claiming to do.)
Exactly, unless NG makes a huge turnaround in the energy market no way they have the capital to operate and hold all those leases, I hate to say it but if somthing doesnt happen in the near future the ultimate can't miss shale play might break the biggest shale player in the game.
Posted on 12/2/08 at 10:16 pm to Checkmateking2
i got out earlier ... traded it 3 times this year all green...im done with it though, better NG plays
Posted on 12/2/08 at 10:20 pm to Zilla
I have looked at a couple of other smaller independents who have existing leaseholds for cheap cheap.
Posted on 12/3/08 at 8:44 am to Tiger JJ
quote:
I think it's the opposite, isn't it? They've leased a shitload of acreage with a 3-year clock ticking in their face and they can't get leasehold UNLESS they poke 5000 or so holes in the ground
I don't understand how that's the opposite...I think we're saying the same thing...spend an assload on drilling or lose your lease rights.
Posted on 12/3/08 at 9:29 am to Putty
quote:
I am under the impression that all of their leases are held by production
That's the prob, none of them are HBP yet. Just a few units so far.
Posted on 12/3/08 at 9:32 am to Checkmateking2
quote:
That's the prob, none of them are HBP yet.
what I meant by held by production is that production is the only way to keep them and that there are no holes in the ground yet...now I see the confusion...it is that I am stupid.
Posted on 12/3/08 at 9:39 am to Tiger JJ
quote:
Disappointing. Looks like it will be years (perhaps many years) if ever for the Arklatex to get its big shale payoff.
Looks like people who signed leases with Petrohawk may have been the smart ones....
Posted on 12/3/08 at 10:49 am to Putty
I thought that this was true of all mineral leases in La - use them or lose them (ten year prescripion?).
Posted on 12/3/08 at 1:46 pm to Cold Cous Cous
Well the operators have however long the lease is to start operations or sell gas to the market, usually three years with a two year option, if you reserve the mineral rights after selling land it's 10 years then they revert back to purchaser. It's a danm shame the biggest thing ever to hit NW LA has been torpedoed by the economic meltdown and overzealous operators.
Posted on 12/3/08 at 4:42 pm to Checkmateking2
quote:
It's a danm shame the biggest thing ever to hit NW LA has been torpedoed by the economic meltdown and overzealous operators.
torpedoed for probably 2-3 years, not forever. The gas is there my friend, might as well wait till NG is back above $10/Mcf to pump it out!
Posted on 12/3/08 at 7:29 pm to GeneralLee
quote:
torpedoed for probably 2-3 years, not forever. The gas is there my friend, might as well wait till NG is back above $10/Mcf to pump it out!
Exactly, it just isn't looking like Ches. will be the ones doing the "pumping." Could be BP or the norwegians.
Posted on 12/3/08 at 9:10 pm to TigerStuckinOkieland
not suprising at all, the way these asshats were throwing money around for leases...typical corporate hype with nothing to back it up...
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