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PA v Chesapeake

  • 49 Replies
  • 1132 Views
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macal

  • 10512
PA v Chesapeake
« on: November 01, 2019, 08:16:56 AM »

  Does anyone know the status of the PA lawsuit against Chesapeake. Is it resolved or just bogged down in the Courts?

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macal

  • 10512
Re: PA v Chesapeake
« Reply #1 on: November 04, 2019, 08:28:47 AM »

  Guess not?

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ghrit

  • 3838
  • Member since October 05, 2008
Re: PA v Chesapeake
« Reply #2 on: November 04, 2019, 01:05:01 PM »
If it matters all that much, you could look it up or call the court clerk.  Appears like either no one knows, or no one cares.
« Last Edit: November 04, 2019, 11:12:18 PM by ghrit »
There are two kinds of ships.  Submarines and targets.
www.survivalmonkey.com

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Wax

  • 6621
Re: PA v Chesapeake
« Reply #3 on: November 05, 2019, 09:41:11 PM »
If it matters all that much, you could look it up or call the court clerk.  Appears like either no one knows, or no one cares.
I agree with you on both. 
With their share trading down 16% today at $1.26, "all time low" royalty owners would have to settle for LNG.  No doubt the court would agree, and royalty owners would have to provide their own containers to be filled.   :-X

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macal

  • 10512
Re: PA v Chesapeake
« Reply #4 on: November 06, 2019, 07:35:24 AM »
  Just way too much debt and their post production costs are too high to cash in on their great wells.
« Last Edit: November 06, 2019, 07:56:59 AM by macal »

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macal

  • 10512
Re: PA v Chesapeake
« Reply #5 on: November 06, 2019, 02:35:25 PM »

  Hopefully the bankruptcy judge will save a little for all the landowners they have screwed over.

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Wax

  • 6621
Re: PA v Chesapeake
« Reply #6 on: November 06, 2019, 02:51:19 PM »

  Hopefully the bankruptcy judge will save a little for all the landowners they have screwed over.
On its way to zero  :'(         But in reality they are down but not out.  Corning was in their shoes and many folks (employees) lost a great amount of money. The stock went to 25-cents and a year or so later in the mid-teens.  Compaine never have an obligation, to their shareholders.

Hurting every pipeline company, that transports gas for them. 

Chesapeake stock has dropped 36% to 85 cents, an all-time low. Chesapeake’s shares were downgraded to Sell from Hold at Tudor Pickering, but that doesn’t seem to be the reason for the decline. Instead, it seems that reality is setting in.

See, Chesapeake has a monster amount of debt—some $8.37 billion in net debt, according to Bloomberg. That debt comes with rules, known as covenants, that can limit Chesapeake’s actions if its debt grows too large relative to certain financial metrics, in this case its earnings before interest, taxes, depreciation and amortization, or Ebitda.

https://finance.yahoo.com/m/3eed5230-e312-3026-98d2-9ed1a7d02c86/chesapeake-stock-is-tumbling.html

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macal

  • 10512
Re: PA v Chesapeake
« Reply #7 on: November 06, 2019, 03:49:51 PM »

  Didnt a some of the lenders actually lien their wells in case of default?

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macal

  • 10512
Re: PA v Chesapeake
« Reply #8 on: November 08, 2019, 08:08:29 AM »

  I did read where some lenders that have liens on individual wells could possibly foreclose on them. Possibly resell them?

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ghrit

  • 3838
  • Member since October 05, 2008
Re: PA v Chesapeake
« Reply #9 on: November 08, 2019, 04:04:12 PM »

  I did read where some lenders that have liens on individual wells could possibly foreclose on them. Possibly resell them?
Dunno where you read that crap, but it wasn't on this site.
There are two kinds of ships.  Submarines and targets.
www.survivalmonkey.com

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macal

  • 10512
Re: PA v Chesapeake
« Reply #10 on: November 08, 2019, 05:36:16 PM »

  It was on the Chesapeake Q3 report.

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ghrit

  • 3838
  • Member since October 05, 2008
Re: PA v Chesapeake
« Reply #11 on: November 08, 2019, 06:37:46 PM »

  It was on the Chesapeake Q3 report.
Do a search on site for "lien."  You might learn something.
« Last Edit: November 08, 2019, 06:53:12 PM by ghrit »
There are two kinds of ships.  Submarines and targets.
www.survivalmonkey.com

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macal

  • 10512
Re: PA v Chesapeake
« Reply #12 on: November 08, 2019, 08:00:49 PM »

  Maybe collateral would have been a better term.

  If continued depressed prices persist, combined with the scheduled reductions in the leverage ratio covenant, our ability to comply with the leverage ratio covenant during the next 12 months will be adversely affected which raises substantial doubt about our ability to continue as a going concern. Failure to comply with this covenant, if not waived, would result in an event of default under our Chesapeake revolving credit facility, the potential acceleration of outstanding debt thereunder and the potential foreclosure on the collateral securing such debt, and could cause a cross-default under our other outstanding indebtedness. We are actively pursuing with support from the Board of Directors a variety of transactions and cost-cutting measures, including but not limited to, reduction in corporate discretionary expenditures, refinancing transactions by us or our subsidiaries, capital exchange transactions, asset divestitures, reductions in capital expenditures by approximately 30% in 2020 and operational efficiencies. We believe it is probable that these measures, as we continue to implement them, will enable us to comply with our leverage ratio covenant.

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macal

  • 10512
Re: PA v Chesapeake
« Reply #13 on: November 08, 2019, 09:51:49 PM »

  It was on the Chesapeake Q3 report.
Do a search on site for "lien."  You might learn something.

  Again G. I don't know why you care.
  Im from Bradford County. Chesapeake has half the County leased including myself, my family and many friends.
 This might be going down. It doesnt affect you and you have nothing to add just ignore it.

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ghrit

  • 3838
  • Member since October 05, 2008
Re: PA v Chesapeake
« Reply #14 on: November 08, 2019, 10:03:04 PM »

  It was on the Chesapeake Q3 report.
Do a search on site for "lien."  You might learn something.

  Again G. I don't know why you care.
  Im from Bradford County. Chesapeake has half the County leased including myself, my family and many friends.
 This might be going down. It doesnt affect you and you have nothing to add just ignore it.
It affects me in that inaccurate information is useless.  Worse, random off the wall statements reflect poorly on you.  Pinging on you gives me a certain satisfaction, both from the standpoint of aggravating you AND possibly pointing out a place where you can learn instead of promulgating beshonka.  If you confuse, as you did, collateral and lien, your understanding of the language and law is grossly deficient. 
There are two kinds of ships.  Submarines and targets.
www.survivalmonkey.com