$23.03
-0.37 (-1.58%)
Chesapeake Energy Corp (CHK)
CAPS Rating:
An oil and natural gas exploration and production company engaged in the acquisition, exploration and development of properties for the production of crude oil and natural gas from underground reservoirs and the marketing of natural gas and oil.
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Chesapeake Energy is positioned to benefit nicely from future price increases because of demand. Chesapeake has invested in the acquisition of new oil and natural gas reserves. CHK owns its own drilling rigs allowing it keep drilling costs down and to move rapidly in exploiting its reserves. Sold property to pay off debt and invest in biggest gas field (TBD).
Energy analysts predict oil and natural production to increase 20% in 2008. This is a big plus for the company.
If Pickens gets his way, 20% of cars will be running on Natural Gas vs oil. He says take gas out of power plants but I suspect that will not happen.
If management is good they will prosper.