NEW YORK, NY / ACCESSWIRE / May 1, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and micro-cap public companies is issuing a comprehensive report with no obligation on Chesapeake Energy Corporation (CHK), a producer of oil, natural gas, and natural gas liquids. The company owns interests in approximately 22,700 wells, and its estimated proved reserves as of December 31, 2016 totaled 1.7 billion barrels of oil equivalent (bboe). Chesapeake has subsidiaries in a variety of downstream industries, including oil and natural gas marketing and natural gas gathering and compression.
Chesapeake attempted to exercise a special early of redemption of $1.3 billion in 6.775 percent senior notes issued in 2012. BNY Mellon, the indenture trustee, challenged the redemption and claimed that under the terms of the agreement, investors were owed a make-whole payment, and the case has been in the courts for years. On April 24, 2017, the Supreme Court decided about whether to hear the case or not.
Get the full story of the legal case regarding the bond issue here - READ MORE
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Chesapeake has subsidiaries in a variety of downstream industries, including oil and natural gas marketing and natural gas gathering and compression.
Chesapeake has made good progress on improving its balance sheet. It has aggressively pursued non-core asset sales to pay down debt, and has restructured existing obligations to give the company additional flexibility to invest in its highest-performing assets and grow production. Furthermore, Chesapeake has taken significant steps to control production costs and fixed charges. However, the company is still highly leveraged, and it remains to be seen how effectively it can manage the remaining asset base.
Chesapeake's Q1 earnings call is slated for May 4, 2017. In our full report, we examine the analysts' expectations and the important issues to look for in that earnings call as well as a review of the last earnings report for FYE 2016. We have also included our own analysts' price target along with that from others.
Read our full report for analysts target price and Q1 earnings preview READ HERE
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