CHESAPEAKE GETS A THIRD QUARTER ENEMA…

By SD Contributor SRSrocco:

Well, it didn’t take long for market prices and reality to set in on Cheseapeake’s earnings.
In the chart below, you will notice that Chesapeake’s revenues have declined substantially since the last quarter and they took that nice $3 billion impairment charge due to.a WRITE DOWN IN RESERVES…. thanks to the USGS.

 

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Even if we took out the impairment charge, Chesapeake is losing money…LOL.

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Comments

  1. The Chairman of Chesapeake is easily one of the most incompetent managers since Armand Hammer ran Occidental Petroleum and that is saying something
    The Chairman will find that enemas can involve horizontal drilling and fracking too. Step back, she’s gonna blow

  2. Wait until enough cases and complaints pile up from fracking contaminating peoples drinking water. These companies will be a world of hurt paying for damages.

  3. It looks like more companies are starting to hide their real commodities reserves. Perhaps more companies like Chesapeake are also hiding their real low reserves while the world doesn’t even know about this.

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