Chesapeake was the giant in the space. If they had not bid, the land would not have been priced higher.
The only reason that it was as high as it was came from Chesapeake trying to buy up everything. The land grab and ensuing leverage has driven CHK to the brink of bankruptcy. Aubrey lost his fortune in the process.
I get what you are saying though. However, it does seem like some deference would be considered given the context surrounding it.
This post is just my opinion. I am a 100% non-compensated poster posting solely for my own interests and/or entertainment.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.