Why was that censored?
6 replies (most recent on top)
Captain Obvious told me Ch 11 just allowed board to pay themselves huge cash bonuses and keep collecting pay for a while. Ch 7 is coming.
The Ch 11 was clearly just another way to kick the can for another 6-9 months.
And it saddens me to see and hear how many naïf people still believe in Doug’s fairy tale....
Just read in new BK filings that South Mansfield - Haynesville going to Williams for $1.00 and amendment of contracts in remaining Haynesville and Marcellus.
New owner after 12/14/2020 will be South Mansfield E&P. Always liked the field office on the side of Interstate 49 - good design by AKM, throw back to the oilfield supply stores in the old days.
I thought that was probably accurate guesswork and no names were mentioned or any profanity.
Reposting:
Considering CHK's assets and their likely inability to generate sufficient cashflow to pay renegotiated debt & contracts in the foreseeable future, liquidating said assets would benefit creditors the most in the near term.
It may also be the chosen path of other OG players looking to purchase the assets without having to buy the entire company and the debt (yes, there will still be massive debt and contracts even after Ch 11).
Ch 7 is highly likely. If I am major operator looking to purchase some NG assets on the cheap, why would I want the whole company and all the BS that comes with it? Further, if I'm owed $ by CHK, I'd rather get dimes on the dollar for it now versus extending them an agreement to repay over X years, which they may be unable to anyway.
you know why they delete:
- trolling
- personal names
- foul lang
- politics
- trolling
- threats
- violence
- politics
- religion
- sh– posts / low value posts
i think i got them all...