I took a starter position in early 2016 at $2. That was when rumors were flying that CHK might default on a big note that was coming due in a month. I sold some at $7.50 to recoup my investment only to watch it hit $8 a couple of times. So my "free shares" are worth $3.80 today. Hoping for higher prices but, with producers starved for cash, I fear they're going continue to do whatever's necessary to stay afloat. Rather than drilling new and costly wells, many are looking to "improve existing well performance through re-fracturing, artificial lift and line pressure reduction projects."
Unlike those stinky sub-penny stocks you and I locked horns over before, CHK has revenues and very valuable assets.
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