Tuesday, February 23, 2016 10:13:12 AM
Here are the oil and gas two year charts. As you can see, both are in a down trend.
A little 'blip' up isn't going to change anything, and there is only so much cost cutting that can be done. I think large parts of the write offs were from leases expiring due to prices being too low to drill on the land.
On top of that, most of CHK production if NG, not oil. While a price move up in oil helps, it doesn't fix anything if NG goes down by the same percentage or worse, a decline in NG prices more than offsets the price increase in oil.
I think the muppets are going to be confused with the Q4 2015, Q1 2016 and Q2 2016 earnings releases as they buy in on the price rise in oil, but NG causes the company to continue its string of bad results.
Louis J. Desy Jr.
Two year oil prices:
Two year gas prices:
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