Shale Drillers Are Staring Down Barrel of Worst Oil Bust Yet [Yahoo! Finance News]
Chesapeake Energy Corporation (CHK)
Last chesapeake energy corporation earnings: 2/26 07:00 am
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Source: Yahoo! Finance News
) -- America’s shale drillers have never faced an oil bust quite like this. The split between Russia and its one-time OPEC allies last week has ignited an all-out price war, leaving oil markets defenseless against the unprecedented demand shock brought on by the coronavirus. Crude plunged by the most since the 1990s on Monday, with West Texas Intermediate falling to less than $28 a barrel, a level at which vast swathes of the U.S. shale patch become unprofitable. Many U.S. producers were down more than 30% in pre-market trading Monday. It’s a disaster for U.S. frackers including Chesapeake Energy Corp. and Whiting Petroleum Corp., who were already trading at distressed levels -- and makes more defaults and bankruptcies all but certain. After burning through hundreds of billions of dollars in cash over the past decade, the industry has consistently disappointed investors while accumulating huge debts. It now finds itself backed into a corner, increasingly shut out of capital markets. B
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CHK
News
- Chesapeake Energy Co. (NASDAQ: CHK) had its price target raised by analysts at Wells Fargo & Company from $77.00 to $83.00. They now have an "equal weight" rating on the stock.MarketBeat
- Chesapeake Energy and Southwestern Energy Complete Merger and Provide Third Quarter Earnings Conference Call Information, Company Rebranded as Expand EnergyGlobeNewswire
- Chesapeake Energy Co. (NASDAQ: CHK) had its price target lowered by analysts at Truist Financial Co. from $108.00 to $96.00. They now have a "buy" rating on the stock.MarketBeat
- Deals this week: Chesapeake, Visa, KKR, Mondelez and more [Seeking Alpha]Seeking Alpha
- Chesapeake Energy Co. (NASDAQ: CHK) was upgraded by analysts at Roth Capital to a "strong-buy" rating.MarketBeat
CHK
Earnings
- 7/29/24 - Miss
CHK
Sec Filings
- 11/21/24 - Form FWP
- 10/1/24 - Form 4
- 10/1/24 - Form 4
- CHK's page on the SEC website