Tuesday, May 1, 2012

Chesapeake Earnings 1Q12

Updates

May 1, 2012: CHK plummets.
Shares of Chesapeake Energy Corp. are down 12 percent because of disappointing earnings and a new report of potential conflicts of interests involving its CEO.

Reuters says Aubrey McClendon ran a private hedge fund for at least four years that traded in contracts for oil and natural gas — commodities that Chesapeake produces. The report suggests the hedge fund could have influenced McClendon's running of Chesapeake.
The report does not mention that according to an earlier conference call additional assets would be sold. I don't know if the asset selling is complete.

Original Post

Per CNBC:
  • earnings: 18 cents vs 29 cents
  • revenue: 2.4 vs 2.75 billion

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