Archive for November 11th, 2008


11
Nov

Tuesday Morning – Big Deal For CHK But Another Bad Open For Oil And The Market

  Sentiment Watch:  Ugh. The bond market takes Veteran’s Day off so credit won’t be any sort of a guide for equities today. Asia sold off overnignt and we have another weak open on tap. CHK got their Marcellus deal done (see below) and should get marked higher because of it but the energy sector […]

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11
Nov

CHK Inks Marcellus Deal

The Money: $3.375 billion: $1.25 billion cash upfront; $2.125 billion in drilling costs over 2009-2012. The Position: CHK gives up 32.5% of their Marcellus position (or 600,000 acres of their 1.8 million acre position). The company had been looking to farm out 25% of their leading position in the play but at the present time […]

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