Making Dominic CEO of CHK seems to have upset a lot of folks. I understand he doesn't know anything about drilling or completing a well and couldn't even manage the drilling of a shallow water well. I understand he was the mastermind of the Ponzi scheme that destroyed lives and companies. Yes, he is a crook. But with corruption running all the way through the BOD's, past and current, don't you think they know what they are doing by promoting the one person with the money trail that,if exposed, would send them all to prison? See, it really does make since when you have all the information.
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Lol…look at the timeline and the press releases. In February they say they are going more oily. Covid and negative oil prices happen. They do a reverse stock split to stay on the NYSE. They pull their guidance after and say they are considering all options to put themselves in a better position financially. All those execs lost their ar-e. They tried to stay afloat but it was a lost cause with covid.
Nice try ND. If you don't think promoting a stock while company is headed for bankruptcy is a con, the corruption possesses your soul.
He didn’t sell any shares, genius.
Paying back shareholders?!?!? It went through bankruptcy court. Do you know how these things work? The stock was already pennies when the pandemic hit. The financials were available and audited. The commitments and debt were disclosed.
By the way, what was the con?
What does ND selling his shares given to him by the company, not purchased out of his bank account, have to do with paying back the pre-bankruptcy shareholders? ND is a crook and is the problem at Chesapeake. The new Chesapeake is the same Ponzi Scheme company run by the same financial con artist. I admit ND is very smart at promoting himself as evidenced by surviving two run off CEO's that were fired following ND's Ponzi scheme tactics. How to you make millions bankrupting a company?? By being corrupt.
“ When is ND going to pay back pre bankruptcy shareholders?? He preached how great the stock was to the end. He is the reason for bankruptcy and he devised a plan to throw all the executives under the bus and come out as CEO.”
Mr Genius, go look at the SEC filings and find one where ND sold a share of stock.
“Market cap today: $6.1B.
Market cap post bankruptcy: ~ 4.4B.
Post bankruptcy reorganization was in excess of $7B.
How and when would the banks have already recouped their $7B + ?“
New debt plus market cap of stock (which the banks own almost all of it) = approximately $7B.
Yes, ND is one sorry MF. He made millions while others lost millions. And now he gets to do it all over again!
When is ND going to pay back pre bankruptcy shareholders?? He preached how great the stock was to the end. He is the reason for bankruptcy and he devised a plan to throw all the executives under the bus and come out as CEO.
Market cap today: $6.1B.
Market cap post bankruptcy: ~ 4.4B.
Post bankruptcy reorganization was in excess of $7B.
How and when would the banks have already recouped their $7B + ?
ND is a crook. His reputation is ruined. He can't undue his sins of the past. No one who owned stock prior to bankruptcy will trust anything ND says, and they won't ever own CHK stock again.
Check the plan of reorganization. Pretty sure most of the banks got their money back already with the current stock price, or would if they sold. Look at that market cap…and it’s still under valued.
You guys think ND will mess this up!?!?! Lol…not a chance. And with an active chairman like MW?!?!? Double LOL…no way.
Lots of delusional people in this thread that forget that “some bank” owns $7+ Billions of CHK equity.
These banks are not going to keep this capital locked to old dirty CHK during the most significant industrial revolution (the “green revolution”).
Just give them a few more years, they will get their billions back no matter what.
Somebody's been reading their finance textbook.
“ They have the right guy to keep the numbers looking good for the liquidation.”
How are you that stupid? Look at the price of oil and gas. Look at the cash flow statement. Now look at the balance sheet. If you think liquidation is in the future then you may be one of the most ignorant human beings to ever post on this board, and that is quite the accomplishment.
Sorry Ops guys. Finance is taking over here and and everywhere else because you can’t add or subtract, let alone forecast spending. Enjoy your pay cut.
Del d-mbo knows where all the bodies are buried. Anyone who thought D ball was going anywhere doesn't have much of an understanding of what the boys in OKC have been running all these years.
They have the right guy to keep the numbers looking good for the liquidation.
All of the people with something to hide are happy with Dom's appointment.
Meet the new boss.
Same as the old boss.
I am actually very pleased to hear this news!
They made Del’D-mbo King?
Dang! Weren’t there any undertakers available, who have never worked a day in oil & gas, like our former Chairman of the Board, Bradley “Tennessee Jed” Martin?
CHK needs to get back to its core business—paying too much for uneconomic assets that bankrupted the prior owners.
Call it boondoggle, call it wasting time and money---Okay, I understand that. Still, it’s the only thing CHK can get done. Let’s not kid ourselves.