Chesapeake Energy Corp (CHK)

[CashCowMoo]

A lot of recent 3D should be available too in mid con area. A lot of acreage that was leased by some of these guys like SD and CHK is going to be expiring soon.


One of the problems from Chesapeake, Sandridge, and Tom Ward (now with Tapstone) is they drove up the cost of mid con acreage to insane amounts in these land bidding wars. Now some of the landowners think their acreage is worth thousands and acre because thats what they got years ago when the getting was good.


horizontals are a very tricky game, and my favorite would be EOG. They are good at that. There are wells in midcon making more from vertical than horizontal. Plus all that water they deal with is a nightmare from the shale wells. Many landowners are selling off their interests in some of these areas because the wells are basically done. Made amazing royalty checks for maybe the first 6 months and now its hardly much at all. Throw in the cheap oil price and its almost not even worth looking at every time a load is sold.