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Started By
Message
Chesapeake will file for bankruptcy
Posted on 4/29/20 at 10:40 pm
Posted on 4/29/20 at 10:40 pm
Lost 13k on this POS over the course of few years LINK
6
Posted on 4/29/20 at 10:45 pm to Northwestern tiger
And this after a 1-200 stock split. I really thought Chesapeake would hold off for now on the bankruptcy.
Posted on 4/29/20 at 10:48 pm to Dr Rosenrosen
Oil companies are In big trouble for the foreseeable future. Any investment outside of big ones like Exon mobile would be insane right now.
Posted on 4/29/20 at 11:10 pm to Northwestern tiger
Ghost of Aubrey McClendon
Posted on 4/29/20 at 11:28 pm to Northwestern tiger
This was a long time coming. Aubrey dug them into a deep deep hole and there was no chance of climbing out. Will be interesting to see which assets they sell - they have some pretty good assets across multiple basins. Haynesville is the obvious answer (they’ve been quietly shopping for awhile now) but given gas production is advantageous in the current environment I wonder if they hold on. Also will be tough to find a buyer that pays a decent price.
Posted on 4/30/20 at 7:24 am to Northwestern tiger
Yeah, buying MRO under $4.00 was insane! 
Posted on 4/30/20 at 7:30 am to Hussss
quote:
Aubrey McClendon
POS
Posted on 4/30/20 at 7:44 am to Northwestern tiger
About time. It feels like they’ve been limping along forever.
Posted on 4/30/20 at 8:02 am to Northwestern tiger
I can't believe they held on this long.
Posted on 4/30/20 at 8:18 am to UltimaParadox
quote:
I can't believe they held on this long.
Gives me some hope that MAYBE alot of the larger independents, even the ones whose balance sheets look like garbage right now, might be able to hang on long enough to see the recovery side of this thing.
Need economies to start getting some movement again soon.
Posted on 4/30/20 at 8:21 am to ragincajun03
quote:
Gives me some hope that MAYBE alot of the larger independents, even the ones whose balance sheets look like garbage right now, might be able to hang on long enough to see the recovery side of this thing.
Which means the ones with the best upstream balance sheets like FANG, EOG, and PXD will survive and are value buys right now, IMO.
This post was edited on 4/30/20 at 8:22 am
Posted on 4/30/20 at 9:05 am to Northwestern tiger
quote:
Oil companies are In big trouble for the foreseeable future. Any investment outside of big ones like Exon mobile would be insane right now.
I bought MTDR at 2.18. Doesn't seem that insane
Posted on 4/30/20 at 10:51 am to Indefatigable
quote:
I bought MTDR at 2.18. Doesn't seem that insane
Not at all. They had a good report yesterday.
This post was edited on 4/30/20 at 10:52 am
Posted on 4/30/20 at 11:00 am to ragincajun03
quote:
Not at all. They had a good report yesterday.
Wish I had bought a ton more than I did
Its up over 300% 
Posted on 4/30/20 at 11:04 am to Indefatigable
Curious what your logic was for picking Matador?
Posted on 4/30/20 at 11:10 am to ColoradoAg03
The problem is shale gas works, shale oil other than about 6-7 key counties in the us does not. Of those Karnes (EF) Dunn, Mckenzie (Bakken) are mostly drilled up. I don't see any independents being able to survive with the exception of Pioneer and EOG but they still face the same problems of the shale oil treadmill. The better bet would be on clean shale gas players in a world of much less capital access and better US gas prices which may finally materialize. The problem is there are only a couple possibilities there too.
Posted on 4/30/20 at 11:15 am to TheIndulger
quote:
Curious what your logic was for picking Matador?
Nothing very sophisticated. It was suggested in a thread on here a few weeks back, so i looked into them a little and saw that they had decent results on some of their newer wells, and that large investors were increasing their holdings. Hopped on the bandwagon so to speak.
I am a complete novice at investing and only started dabbling earlier this year. Just nice to have a quick buy pan out well.
Posted on 4/30/20 at 11:37 am to Northwestern tiger
quote:
Oil companies are In big trouble for the foreseeable future. Any investment outside of big ones like Exon mobile would be insane right now.
There are people trading up Whiting right now...Whiting, a bankrupt company that will see the equity wiped out. Basically, the market is insane.
Posted on 4/30/20 at 11:39 am to TigerDeBaiter
quote:
Yeah, buying MRO under $4.00 was insane!
The underlying debt would suggest it is, but emotions are driving E&P equities at this point...aka you might get lucky.
Posted on 4/30/20 at 12:48 pm to Northwestern tiger
Why would they do a reverse split and institute a poison pill if they were going to file bankruptcy? I don’t buy it. They are intentionally manipulating the stock for someone’s gain. I just don’t know who.
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