CHK - Chesapeake Energy Corporation - Page 41

looking good... we are back over 18 again...

come on time for you to break out and make new HOD.

+1 i agree..... 

a lot of dumping today.

This one's been a great flipper.  I loaded up again earlier.

what a nice pop this morning.

VERY NICE POP!!!! now im debating selling or holding.....

I hope you got out yesterday blow.

They say value of the assets are worth $30, double the current trading price.

i should have, i didnt think it was gonna miss like that!

i wasnt very invested in it anyway, only have about 5% of my portfolio invested into it (a little less than $1000). so i was sell and make less than $100 (at its peak) or set a stop and let it sit. i set a for 19 and it never hit, but i had to remove my stop yesterday morning other wise it would have sold at an almost equal loss. im either going to average down or let it sit for a while. 

10K out and it fell off a cliff... ouch 15.87 1.31(7.63%)

dang...the pain continues

they'll have to investigate this company.....after they get done with JPM of course....

oh man!!!! i wonder if its worth averaging down since im still holding a very small position at 18.50  i should have sold!!!!!! now im pissed. not even sure its worth it.........

lol..thats small a position ??? ok so not much pain...cool

no...... maybe that didnt make sence......  im in at 18.50 per share, not total $$$ of shares owned.....lol... im down a little over two hundred (i only own about $1,000 worth 55 shares). CHK is about 6 or 7% of my account, the total value of my account is around 16k total.

 

its a small position compared to most, but all in all this week stings a little. since im down about 24% right now if you include everything im holding in my etrade account. i need to stop holding all the time and trading more, maybe get into options or something. 

Chesapeake Energy Corporation Enhances Financial Flexibility with $3.0 Billion Unsecured Loan to Be Repaid from 2012 Asset Sales
1 hours 35 minutes ago - BusinessWire via Comtex


Chesapeake Energy Corporation (NYSE:CHK) today announced it has entered into a $3.0 billion unsecured loan from Goldman Sachs Bank USA and affiliates of Jefferies Group, Inc. The net proceeds of the loan, after payment of customary fees and original issue discount (if any), will be utilized to repay borrowings under the company's existing corporate revolving credit facility.

The new facility, which ranks pari passu to Chesapeake's outstanding senior notes, matures on December 2, 2017 and may be repaid at any time this year without penalty at par value and carries an initial variable annual interest rate through December 31, 2012 of LIBOR plus 7.0%, which is currently 8.5%, given the 1.5% LIBOR floor in the loan agreement. During the remainder of the year, Chesapeake plans to complete asset sales totaling $9.0-$11.5 billion and intends to use a portion of the proceeds from these asset sales to repay the loan. Chesapeake has received strong interest from prospective buyers of its Permian Basin asset sales process and its Mississippi Lime joint venture process, and the company expects to complete these two transactions in the 2012 third quarter.

Management Comments

Aubrey K. McClendon, Chairman and Chief Executive Officer, said, "This short-term loan from Goldman and Jefferies provides us with significant additional financial flexibility as we execute our asset sales during the remainder of 2012.

As previously announced, Chesapeake's business strategy is evolving in 2012 from the unconventional resource play identification and leasehold capture strategy of the past seven years to a strategy now focused exclusively on developing the 10 core plays in which we have built a #1 or #2 position and on continuing our transition from natural gas to liquids, reducing capital expenditures and paying down long-term debt. We believe Chesapeake has built the nation's best collection of E&P assets, and we are 100% committed to delivering on the very substantial growth and value embedded in these assets for our shareholders through a relentless focus on developing our 10 core plays."

Conference Call Information

A conference call to discuss this release and our quarterly filing on Form 10-Q has been scheduled for Monday, May 14, 2012 at 8:30 am EDT. The telephone number to access the conference call is 913-312-0956 or toll-free 888-263-2744. The passcode for the call is 3455479. We encourage those who would like to participate in the call to place calls between 8:15 and 8:30 am EDT. For those unable to participate in the conference call, a replay will be available for audio playback at 1:00 pm EDT on Monday, May 14, 2012 and will run through midnight Monday, May 28, 2012. The number to access the conference call replay is 719-457-0820 or toll-free 888-203-1112. The passcode for the replay is 3455479. The conference call will also be webcast live on Chesapeake's website at www.chk.com in the "Events" subsection of the "Investors" section of the website. The webcast of the conference call will be available on Chesapeake's website for one year.

JPM lowered there price target from 15$ to $10.

  15.90 1.09(7.36%) 
 

Rumors of Icahn taking a position in here helping the stock this morning