Chesapeake Energy Corp (CHK)

[Kool Aid Man]

Waiting for bankruptcy--->

Why?

CHK fell another 4.41% after hours (to $1.95)--down 36.27% on the day.

Essentially Hit the 52 week low of $1.50 intraday

A crushing $11.6 billion in total debt with a huge payment due in March.

Market cap a paltry <$1.3 billion

The price is now below their break even for nat gas.

Lawsuits mounting as royalty owner sue for being short changed. Debtors expected to add to the dogpile

Bankruptcy will wipe out a lot of debtors and lawsuits. Despite his losses, Carl Ichan could be waiting to take over the whole thing at a fire sale price.