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Chesapeake Energy (CHK)

Chesapeake Energy Corp. is an independent exploration and production company, which engages in acquisition, exploration and development of properties for the production of oil, natural gas and natural gas liquids from underground reservoirs. It focuses on projects located in Louisiana, Ohio, Oklahoma, Pennsylvania, Texas, and Wyoming. The company was founded by Aubrey K. McClendon and Tom L. Ward on May 18, 1989 and is headquartered in Oklahoma City, OK.

Company profile

Ticker
CHK, CHKEZ, CHKEW, CHKEL
Exchange
Website
CEO
Robert Lawler
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
an Oklahoma Corporation • Chesapeake Operating, L.L.C. • Chesapeake Exploration, L.L.C. • Chesapeake Appalachia, L.L.C. • Chesapeake Energy • Chesapeake Land Development Company, L.L.C. • Vine Oil & Gas Parent GP LLC • Brix Oil & Gas Holdings GP LLC • Chesapeake Louisiana, L.P. ...
IRS number
731395733

CHK stock data

Calendar

2 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 26M 26M 26M 26M 26M 26M
Cash burn (monthly) 666.67K 49.67M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 964.63K 71.86M n/a n/a n/a n/a
Cash remaining 25.04M -45.86M n/a n/a n/a n/a
Runway (months of cash) 37.6 -0.9 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
27 Jun 22 Michael Wichterich Common Stock Buy Acquire P No No 85.7 1,000 85.7K 25,318
27 Jun 22 Michael Wichterich Common Stock Buy Acquire P No No 85.6 1,000 85.6K 24,318
24 Jun 22 Dell'osso Domenic J JR Common Stock Buy Acquire P No No 82.042 3,000 246.13K 35,891
24 Jun 22 Michael Wichterich Common Stock Buy Acquire P No No 81.5 3,000 244.5K 23,318
23 Jun 22 Joshua J. Viets Common Stock Buy Acquire P No No 75.188 1,700 127.82K 27,504
13F holders Current Prev Q Change
Total holders 349 269 +29.7%
Opened positions 110 97 +13.4%
Closed positions 30 41 -26.8%
Increased positions 115 110 +4.5%
Reduced positions 85 46 +84.8%
13F shares Current Prev Q Change
Total value 14.17B 10.55B +34.3%
Total shares 171.43M 163.39M +4.9%
Total puts 1.18M 6.97M -83.1%
Total calls 1.12M 476.65K +135.9%
Total put/call ratio 1.0 14.6 -92.8%
Largest owners Shares Value Change
Oaktree 13.04M $841.2M 0.0%
BX Blackstone 13.02M $1.13B 0.0%
Blackstone Holdings III 13.02M $856.43M 0.0%
Vanguard 11.2M $974.13M +15.7%
PRU Prudential Financial 11.04M $960.29M -4.0%
Oaktree Capital Management 11M $957.1M -8.3%
Capital World Investors 10.4M $905.16M -5.1%
BLK Blackrock 8.91M $775.6M -6.2%
D. E. Shaw & Co 5.87M $378.6M 0.0%
D. E. Shaw & Co. 4.86M $422.6M -7.2%
Largest transactions Shares Bought/sold Change
BEN Franklin Resources 2.43M -2.59M -51.6%
Kimmeridge Energy Management 1.94M +1.94M NEW
Vanguard 11.2M +1.52M +15.7%
FMR 3.81M -1.48M -27.9%
Clearbridge Advisors 1.4M +1.37M +4616.7%
Arrowstreet Capital, Limited Partnership 1.24M +1.17M +1578.4%
BK Bank Of New York Mellon 2.61M +1.15M +78.9%
Scout Investments 1.11M +1.11M NEW
PointState Capital 1.08M +1.08M NEW
Oaktree Capital Management 11M -1M -8.3%

Financial report summary

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Risks
  • We recently emerged from bankruptcy, which may adversely affect our business and relationships.
  • Our actual financial results after emergence from bankruptcy may not be comparable to our historical financial information as a result of the implementation of the Plan and the transactions contemplated thereby.
  • Conservation measures and technological advances could reduce demand for natural gas and oil.
  • Negative public perception regarding us or our industry could have an adverse effect on our operations.
  • The oil and gas exploration and production industry is very competitive; some of our competitors have greater financial and other resources than we do, and there is competition to attract and retain talent and competition over access to certain industry equipment.
  • Oil, natural gas and NGL prices fluctuate widely, and lower prices for an extended period of time are likely to have a material adverse effect on our business.
  • The ongoing COVID-19 pandemic and related economic turmoil have affected, and could continue to adversely affect, our business, financial condition, results of operations and cash flows.
  • If commodity prices fall or drilling efforts are unsuccessful, we may be required to record write downs of the carrying value of our oil and natural gas properties.
  • Significant capital expenditures are required to replace our reserves and conduct our business.
  • If we are not able to replace reserves, we may not be able to sustain production.
  • The actual quantities of and future net revenues from our proved reserves may be less than our estimates.
  • Our development and exploratory drilling efforts and our well operations may not be profitable or achieve our targeted returns.
  • Certain of our undeveloped properties are subject to leases that will expire over the next several years unless production is established on units containing the acreage or the leases are renewed.
  • Our commodity price risk management activities may limit the benefit we would receive from increases in commodity prices, may require us to provide collateral for derivative liabilities and involve risk that our counterparties may be unable to satisfy their obligations to us.
  • Oil and natural gas operations are uncertain and involve substantial costs and risks.
  • Our ability to produce oil, natural gas and NGL economically and in commercial quantities could be impaired if we are unable to acquire adequate supplies of water for our operations or are unable to dispose of or recycle the water we use economically and in an environmentally safe manner.
  • Risks related to potential acquisitions or dispositions may adversely affect our business.
  • Our operations may be adversely affected by pipeline, trucking and gathering system capacity constraints and may be subject to interruptions that could adversely affect our cash flow.
  • Cyber-attacks targeting systems and infrastructure used by the oil and gas industry and related regulations may adversely impact our operations and, if we or our third-party providers are unable to obtain and maintain adequate protection for our data, our business may be harmed.
  • We have significant capital needs, and our ability to access the capital and credit markets to raise capital on favorable terms is limited by industry conditions.
  • Restrictive covenants in certain of our debt agreements could limit our growth and our ability to finance our operations, fund our capital needs, respond to changing conditions and engage in other business activities that may be in our best interests.
  • Changes in the method of determining the London Interbank Offered Rate (LIBOR), or the replacement of LIBOR with an alternative reference rate, may adversely affect interest expense related to outstanding debt.
  • The Chief Acquisition may not be completed. Failure to complete the Chief Acquisition could negatively impact the price of shares of our common stock, as well as our future business and financial results.
  • We are subject to extensive governmental regulation, which can change and could adversely impact our business.
  • Environmental matters and related costs can be significant.
  • Increasing attention to environmental, social and governance matters (“ESG”) may impact our business, financial results or stock price.
  • A deterioration in general economic, political, business or industry conditions would have a material adverse effect on our results of operations, liquidity and financial condition.
  • Military and other armed conflicts, including terrorist activities, could materially and adversely affect our business and results of operations.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: catastrophic, component, decline, deterioration, evolve, expansion, hold, leasehold, Mcfe, MMcfe, necessarily, observable, OTC, perspective, reader, recycle, RSU, size, speculative, system, volume
Removed: Boe, book, content, Intermediate, MBoe, MMBoe, presidential, pressure, produced, temperature, West, WTI