Chesapeake Energy Corp (CHK)

[NotRichYet2]

A clip from a MOTLEY FOOL article mentioning CHK

Chesapeake Energy, on the other hand, is in a much tighter spot and needs to focus on the other side of the equation and get its debt level lower. That's one reason why it recently issued $2.35 billion in second lien notes in exchange for $3.8 billion of its outstanding unsecured notes, resulting in a net debt reduction of roughly $1.5 billion. That said, its debt level has a long way to drop before it's at a more sustainable long-term level. In fact, some analysts would argue that the only way it will be able to ensure long-term sustainability is by reorganizing through bankruptcy. The company, however, would beg to differ and thinks that its operating efficiencies will enable it to spend significantly less money in the future to maintain and grow production, allowing it to generate excess cash flow that it will use to delever once commodity prices improve. Also, asset sales and joint ventures will likely be pursued in order to put Chesapeake on the path toward long-term sustainability.

Also earlier this month in an interview T Boone Pickens said he believes oil prices will double before years end. That is his opinion anyway.

So its going to be a ruff ride for CHK holders - GLTU