Chesapeake Energy Corp (CHK)

[alchemytrader]

they screwed old shareholders...now they want to screw new ones.

[alchemytrader]

but its delisted...

[researcher59]

CHK had a market cap of about $4B as recently as 18 months ago when it was struggling with a huge amount of debt and reporting losses .... so you'd think it should be at least $4B now given that over 85% of the debt has been eliminated, though I believe some properties were spun off as part of the restructuring so production will be lower.

So if the stock starts trading at $40 tomorrow, implying a market cap of $4B, then I'll probably pick up a few shares and then see how it trades.

Tomorrow's opening will be interesting !

[birdguy]

My hope that the bankruptcy court has undervalued what the market will accept for a market cap. We will find out when it opens sometime tomorrow.

[researcher59]

Looks like CHK might be a good buy tomorrow depending on what price the shares start trading at - most of the debt has been eliminated .... there'll be 100M shares outstanding plus warrants. That compares with 2B shares of the old company before the reverse split.

One negative is that they've locked in oil prices in the low $40's for the next two years for 75% of their production .... versus market prices now in the high $50's. But even with low $40's they'll have strong free cash flows.

The presentation on their website is worth reading -

http://investors.chk.com/2021-02-09-Chesapeake-Energy-Corporation-Successfully-Emerges-From-Financial-Restructuring

http://investors.chk.com/presentations

[birdguy]

Thanks for the info.

[MasterBlastr]

I love you.

[researcher59]

New shares of CHK to begin trading tomorrow - the old shares are worthless -

The company's new common shares will be listed on the NASDAQ Exchange under the ticker symbol "CHK," and are expected to commence trading on February 10, 2021. At emergence, Chesapeake will have approximately 100 million new common shares issued and outstanding, with additional shares to be issued upon exercise of three tranches of warrants, each with exercise provisions. The new warrants will also be listed on the NASDAQ Exchange under the ticker symbols "CHKEW" for the Series A warrants, "CHKEZ" for the Series B warrants and "CHKEL" for the Series C warrants.

[shajandr]

You will have to settle for $0.0000 - it's been cancelled. Just as I tole all y'all.

Nuffin to trade anymore. Nuffin to sell. Just a whole lotta NUFFIN.

[shajandr]

I tole all the suckers this was worthless.

[Renee]

CHAKQ BK PLAN effective. All shares cancelled at 1:33 P.M. E.S.T.:

All Preferred Shares under these tickers also cancelled:

CHKJQ, CHKLQ, CHKZQ, CHKGQ, CHKHQ, CHKPQ, CKRGQ, CHKVQ, CHKWQ

https://otce.finra.org/otce/dailyList?viewType=Deletions

[Taurus69]

$chk $9 attainable

[MasterBlastr]

That is true. I don't know when this takes place.

[birdguy]

Anyone have a idea on when the new equity will be announced. I suspect that it will be a decent buy at that time. Usually these things go up for a while after being announced and publicly traded.

[MasterBlastr]

Right. Equity in this company is zero. New ticker symbol coming, and holders of commons get zero with no conversion to new shares. Now lets see how many come around this board, blinking, asking where their shares went. Happens every time.

[kingclever]

New name coming. Expect some instability share price, then a drop. I wouldn’t be holding any shares of this between now and EOM. Just sayin’

[shajandr]

Here we go. CONverging on its true value of ZERO.

[Taurus69]

$chk $9 attainable

[researcher59]

Moody's rates the new bonds -

https://finance.yahoo.com/news/chesapeake-energy-corporation-moodys-assigns-142405196.html

[researcher59]

Bondholders will want it public so that they can make some money back. I doubt it stays private. Time will tell.

[Rock_nj]

I’m not sure if Chesapeake will be private or public after the restructuring plan is approved. Sounded like private based on what I read.

[MasterBlastr]

Shares will be cancelled. Current shareholders get zero.

[cgw]

CHKAQ, the common, closed at $4.89

CHKLQ,a 4.5% $100 par cumulative preferred stock closed at 32 cents.

What am I missing here?

[MasterBlastr]

LOL we are gonna have a lot of blinkin' soon! ;)

[Nebuchadnezzar]

$5million is still $5million CHKAQ moving and grovin

[MasterBlastr]

LOL is is funny watching the kids playing flip the worthless turd . . . ah to be young again.

[Nebuchadnezzar]

CHKAQ $5

anyone else get under $3??

[Taurus69]

$chk $4.0 ^ 1.02 (34.23%)
Volume: 1,274,254 @01/21/21 4:44:40 PM EST

[researcher59]

I have not seen a target date, but it should be fairly soon, probably within a few weeks and maybe just days. Depends on how complicated the restructuring plan is.

[MasterBlastr]

LOL just be out before they pull the plug. Don't be one of those coming by, blinking, wondering what happened to their shares. No excuse for that. I'll make fun of you if you do.

[Rock_nj]

When do the new shares start trading?

[researcher59]

Maybe the new shares will be worth buying once they start trading. The debt load has been slashed by over 75% and oil and gas prices have been rising.

https://oilprice.com/Energy/Energy-General/Shale-Giant-Chesapeake-Emerges-From-Bankruptcy.html

[MasterBlastr]

The ones that trade, zero. Secured might be classified as senior debt. You cannot get those.

[etzetrade]

How about preferred doing? Nothing?

[MasterBlastr]

Bankruptcy POR approved by judge today (Wednesday). Unsecured creditors get only 4% recovery. Shareholders get zip.

[MasterBlastr]

But debts for more than that. Company is worth more dead than alive, which is zero.

[Zardiw]

Never mind...that's old

z

[MasterBlastr]

Hard to compare the two. Chesapeake has debts for more than assets. Shares are worth zero. People are paying more, but they don't know why.

[Nebuchadnezzar]

CHK worth 5 billion according to BK judge

[get_it_back]

Thanks.
If the company is worth $5B, is it going to be like American airlines?

[barnyarddog]

BREAKOUT!!! Price History
Date
Open Day Low Day High Close Volume
1/11/2021 4.32 4.32 5.10 5.10 82,268
1/8/2021 3.26 3.26 5.12 4.30 1,106,157
1/7/2021 2.17 2.17 4.15 3.40 2,112,004
1/6/2021 1.88 1.88 2.30 2.16 585,945
1/5/2021 1.65 1.62 1.89 1.85 288,211
1/4/2021 1.50 1.49 1.73 1.60 274,326

[barnyarddog]

Executed Buy 1,000 CHKAQ 01/11/21 09:47:20 AM EST 1,000 @ 4.83

[barnyarddog]

$4.48 +0.180 (+4.19%) Bid x Size $4.45 x 400 Ask x Size $4.51 x 100
Real-time quote: Jan 11, 2021,

6/18/2020 12.77 12.59 14.48 12.95 2,369,454
6/17/2020 15.00 12.75 15.00 13.24 3,390,210
6/16/2020 17.12 14.62 17.22 15.36 4,509,098
6/15/2020 18.75 17.65 19.85 18.87 1,922,391
6/12/2020 23.00 18.00 24.42 19.23 5,137,908
6/11/2020 14.91 14.06 23.05 17.64 7,142,199
6/10/2020 20.20 16.00 21.00 16.81 6,965,049
6/9/2020 19.20 18.41 34.00 23.75 8,879,822
6/8/2020 40.26 36.24 77.50 69.92 21,419,912
6/5/2020 15.60 15.23 25.95 24.80 9,724,988

[barnyarddog]

The Company has interests in approximately 13,500 oil and natural gas wells.

Chesapeake Energy Corporation is an exploration and production company. The Company is engaged in the acquisition, exploration and development of properties to produce oil, natural gas and natural gas liquids (NGL) from underground reservoirs. It operates in one segment: Exploration and Production, engaged in finding and producing oil, natural gas and NGL. It has a diverse resource base of onshore the United States unconventional natural gas and liquids assets. The Company has interests in approximately 13,500 oil and natural gas wells. It has positions in resource plays of the Eagle Ford Shale in South Texas, the stacked pay in the Powder River Basin in Wyoming and the Anadarko Basin in northwestern Oklahoma. Its natural gas resource plays are the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.

Company Contact

Headquarters

6100 N WESTERN AVE
Oklahoma City, OK 73118
http://www.chk.com/

[barnyarddog]

Shale gas pioneer Chesapeake Energy worth $5.13 billion on bankruptcy exit -U.S. judge


Chesapeake Energy Corp’s value has soared since its June bankruptcy filing, the U.S. judge overseeing the natural gas producer’s trial indicated, and is worth $5.13 billion, far above the shale gas pioneer’s estimate.

January 11, 20219:03 AM
https://www.reuters.com/article/chesapeake-enrgy-bankruptcy-trial/update-1-shale-gas-pioneer-chesapeake-energy-worth-5-13-billion-on-bankruptcy-exit-u-s-judge-idUSL1N2JM14D

[MasterBlastr]

Just idiots with more money than brains. When the bankruptcy wraps up the SEC will pull the plug and the shares will disappear.

[get_it_back]

Any Idea why this is running?

[Taurus69]

$chk $3.4 ^ 1.24 (57.41%)
Volume: 2,112,004 @01/07/21 4:47:33 PM EST

[Nebuchadnezzar]

CHKAQ- $1.50 to $4 in two days :) easy trade

[Taurus69]

$chk $9 with news