Chesapeake Energy Corp (CHK)

[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