Will A New CEO Deliver Gains For Chesapeake Investors?
With the surprise retiring of Chesapeake (CHK) CEO Aubrey McClendon a few weeks back, will investors benefit from the company shifting towards a more disciplined strategy? Or will the company remain on the same collision course with debtors?
The company is the second-largest producer of natural gas, a top 15 producer of oil and natural gas liquids, and the most active driller of new wells in the United States. The company's operations are focused on discovering and developing unconventional natural gas and oil fields onshore with leading positions in the Eagle Ford, Utica, Granite Wash, and Mississippi Lime unconventional liquids plays and in the Marcellus, Haynesville, and Barnett unconventional natural gas shale plays.
While most investors don't doubt that Chesapeake owns the largest domestic oil and natural gas resource base, the question exists as to whether shareholders will reap the value of those resources due to a huge debt load.
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