Chesapeake Energy lost more than $1 billion in stock-market value in 46 minutes of trading on Friday after the company disclosed it might be forced to delay plans to sell assets to fund its operations this year.
On November 19, Chesapeake Energy Corporation’s (NYSE:CHK) bonds nose-dived to the lowest level in the history of the company. Investors and creditors exhibit a loss of confidence in the company, as the downturn in the commodity market continues. In the past years, the company’s notes have been the second largest, most actively traded notes in the high-yield market.
Stock of Chesapeake Energy Corporation (NYSE:CHK), the second largest US natural gas producer, is facing significant downward pressure as falling oil and gas prices coincide with negative analyst commentary.
The market value of Chesapeake Energy Corporation’s (NYSE:CHK) bonds have plunged 9.63% in the past one week, as creditors are worried that a fall in commodity prices will affect the company’s ability to repay its debts. The $1.5 billion in company notes which are due in 2022 fell to 50.38 cents on the dollar, as reported by Bloomberg.
Chesapeake Energy Corporation (NYSE:CHK) is facing troubled times, as a significant drop in commodity prices weighs down on its sales and profitability. Amid substantially lower realized prices of oil and natural gas, Chesapeake reported its financial results for the third quarter of fiscal year 2015 (3QFY15) on Wednesday.
Chesapeake Energy Corp. Chief Executive Officer Aubrey McClendon will resign from the company he built into the second-largest U.S. natural gas producer after scrutiny of his personal finances and a corporate cash crunch erased as much as 43% of its market value last year.
Dean Foods (DF) announced its second-quarter (2Q) earnings for fiscal 2014 (FY14) today, and reported a loss of 14 cents per share compared to analysts’ expectations of 6 cents loss per share. The adjusted EPS declined 154% YoY, as the second quarter proved to be more challenging than the company had anticipated.
CALGARY — Athabasca Oil Corp. shares fell Monday as the company sought to assure investors over receipt of a cash windfall from PetroChina Co.
Athabasca issued a statement Monday saying it was providing an update on the transaction “in light of recent market speculation and investor queries” over whether the Chinese energy giant would follow through with a $1.23-billion payment tied to Athabasca’s Dover oil sands property.
By Osman Gulseven:Chesapeake Energy (CHK) is among the most widely followed energy companies in the U.S. Established in 1989, the Oklahoma-headquartered company is primarily engaged in the natural gas and oil development in North America. The company holds substantial interests in several natural gas resource basins, as well as liquids-rich resource plays.
By Devon Shire: Being an outside investor is hard. Any time the shares of a publicly traded company you own start underperforming its peer group you wonder if there isn’t something going on that you don’t know. You are just an outsider and perhaps other people have better information than you do?