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The Water Cooler
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Chesapeake Energy preparing for bankruptcy
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<blockquote data-quote="stroker-c10" data-source="post: 3361986" data-attributes="member: 6929"><p>I personally was kind of surprised that they made it this far. They invested heavily early on in natural gas in the belief that it was going to take off when it never really has. They had some of the best leases on natural gas from here to Pennsylvania, but natural gas prices didn't rise like they had hoped. Hope they can recover but that is a pretty large chunk of debt. Unit Corp filed for bankruptcy not long before them, but they only had about 750 million in debt vs the 8-10 billion Chesapeake is looking at. Really hope that the O&G market starts to look better for us involved, as it has been a pretty gloom place for the past several years.</p></blockquote><p></p>
[QUOTE="stroker-c10, post: 3361986, member: 6929"] I personally was kind of surprised that they made it this far. They invested heavily early on in natural gas in the belief that it was going to take off when it never really has. They had some of the best leases on natural gas from here to Pennsylvania, but natural gas prices didn't rise like they had hoped. Hope they can recover but that is a pretty large chunk of debt. Unit Corp filed for bankruptcy not long before them, but they only had about 750 million in debt vs the 8-10 billion Chesapeake is looking at. Really hope that the O&G market starts to look better for us involved, as it has been a pretty gloom place for the past several years. [/QUOTE]
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