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Fracking News

Chinapeake

July 7, 2012 By Chip Northrup

In a move that is sure to frack Wall Street, Chesapeake Energy has changed its name to “Chinapeake Energy” re-incorporated in the Caymans and obtained a new listing symbol on the stock exchange FRK U.   In an early morning announcement, Chesapeake’s chairman has been replaced by Mr. Fra Kin Ho of Beijing and Las Vegas.  Shares traded down in after-hours trading as wet gas prices began their swan dive into the dumper. Mr. Ho began his career in China’s lucrative if somewhat controversial body parts harvesting trade before diversifying into fracking.  Mr. Ho commented with a wry smile on the transition. “Frack liver. Frack shale. All same. Good money.”

 

 

 

 

 

 

 

 

 

Letters were sent out to landowners who have leased to Chesapeake. An advance copy obtained by Reuters had this to say about the transition: 

“Welcome Americans Gaseous Partners for Progress and Prosperity

We come in peace and tranquility to harvest you gaseous parts for all 

America has a 100 year supply of clean, renewable, glorious gaseous parts

We share harvest, OK ?  

Here are some new terms of you lease : 

“frack us first  OK ?”  美国天然气井

“farce majeur in effect”   有一个愉快的一天

“Energy in Depth still in charge of propaganda”  深入能量

“Watch Truthland, learn Truth, OK?  美国天然气井

“you lease been sold”  你已售出

“Water taste like tiger prawn”  美国天然气井

“please, no MSG in my frack fluid”  你已售出

“Have a nice day, OK ?”  地主

Mr. Fra Kin Ho

Chairman 

Chinapeake Energy 

In a related development, the New York DEC indicated that advance copies of the proposed SGEIS shale gas regs. were being furiously translated into Mandarin. “We don’t want to propose anything the big bosses in Beiking won’t go for”, a DEC spokesperson said furtively, as she hurriedly copied the Compulsory Integration regulations into chinese.  With a sigh,”Even though Chesapeake wrote this stuff.” When pressed on what she thought of the transaction, the harried DEC staffer admitted, “I suppose anything is better than those neolithic thugs from Texas and Oklahoma. . . .”

When asked to comment on the sale, the Mayor of Mayberry, New York,  Willy Frackham, had this to say, “Hey, we’re leased to Chesapeake, so we knew we were gonna get fracked by somebody. Mayberry passed a Frack Us First resolution, so now I guess we  have to go back and get it translated into Chinese, so they know to frack us first.  We wouldn’t want  the Chinese to frack Colesville, Bath or Van Etten before they fracked us. Fair is fair.”

The new owners of Chinapeake may find themselves getting hungry an hour after they’ve bought it when they read the new reserve reports that were not “made as paid” by Chesapeake’s reserve engineers.

http://online.wsj.com/article/SB10001424052702303644004577523411723501548.html

Chesapeake Reserves Doubted

An independent research firm called into question the size of
Chesapeake Energy Corp.’s proved reserves of oil and natural gas, an
important metric institutional investors use to value energy
producers, in a report published this week.

The report, by ITG Investment Research, comes as controversy continues
to swirl around Oklahoma City based Chesapeake, the nation’s second
largest producer of natural gas after Exxon Mobil Corp. The company,
which has been battered by decade-low prices for its main product, has
been selling assets to stave off liquidity problems. Shareholders have
forced the company’s board to replace several directors and to appoint
an independent chairman to replace co-founder Aubrey McClendon, who
remains chief executive and chief fracking shill. 

    Chesapeake’s Financial Web Complicates Notion of Sale

The report zeroed in on reserves in the Barnett and Haynesville shale
formations in Texas and Louisiana, which make up 42% of the gas the
company estimates is in fields it owns. ITG calculated reserves for
Chesapeake’s developed wells in that region at 2.8 trillion cubic
feet, 70% of the amount estimated by a third-party engineering firm
for Chesapeake’s 2011 annual report. That difference accounts for
approximately 12% of what Chesapeake estimates is left in all of its
existing wells.

So after they buy Chesapeake, they may buy Range Resources and Cabot, to get more of “America’s 100 year supply of clean, beautiful, sweet smelling natural gas”  to heat tea in China.

 

 

About Chip Northrup

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Filed Under: Chesapeake Energy, Uncategorized Tagged With: allison crocker, chip northrup, compulsory integration, compulsory pooling, cuomo, dec, fracking, gas migration, greg sovas, James "Chip" Northrup, leaking gas wells, marcellus new york, sgeis, shale gas, tom west, tom west dryden, tom west middlefield

Comments

  1. Tim Ruggiero says

    July 9, 2012 at 7:14 pm

    I think the new PR guy’s name is Sum Ting Wong.

  2. Mike George says

    July 9, 2012 at 7:19 pm

    Hu Flung Dung-Assistant Director of Public Relations

  3. Chip Northrup says

    July 10, 2012 at 8:33 pm

    Won Hung Lo the new director of Legislative Affairs

    Foo Kin Ho new Grassroots Outreach Coordinator

    “you lease includes body parts clause OK ?” 有一个愉快的一天

  4. TXsharon says

    July 10, 2012 at 9:53 pm

    Funniest fracking blog post ever.

  5. Tim Ruggiero says

    July 11, 2012 at 7:57 pm

    I had an Asian friend send me a post entitled ‘Learn Chinese in 5 Minutes’. It is make you cry funny. I figured if he thought it was funny, it was okay for it to be funny. It’s just a play on words, no need to get all bent out of shape and start calling people racists.

    If you’re going to be offended about something involving the Chinese, be offended that they now own a sizable chunk of that sinking ship known as Chesapeake.

    Here’s one for you: “I bumped into the coffee table”. To say that in Chinese, it’s “Ai bang mai fuk in shin.” Tell me that’s not funny.

  6. Chip Northrup says

    July 11, 2012 at 10:06 pm

    Most of these Chinaman gags already circulating as graveyard humor at Chesapeake HQ in Okie-land, where they are laying off frackers right and left – and have been for coming up on a year now . .

Trackbacks

  1. Confirmed: Fracking Can Pollute – surprise . . . says:
    July 9, 2012 at 4:20 pm

    […] reports on a new study by the National Academy of Sciences, a group that is not wholly funded by Chinapeake Energy, like the Buffalo University Shale Shamstitute of […]

  2. Chesapeake Keeps Going By Scamming Landowners says:
    July 13, 2012 at 2:38 pm

    […] Chesapeake Energy While busy trying to sell out to the Chinese and over-stating their gas reserves, Chesapeake Energy has  somehow found time to rip-0ff […]

  3. Chinapeake Energy « No Fracking Way says:
    July 16, 2012 at 7:46 pm

    […] Chesapeake to change its name to Chinapeake […]

  4. “Stunt Man” Threatens to Sue DEC says:
    September 11, 2012 at 6:22 am

    […] Evidently Chesapeake and Range Resources are not the only fracking gas holes around. […]

  5. Chesapeake Tries to Buy Naming Rights to Fracking Regs. says:
    September 19, 2012 at 11:43 am

    […] At Chesapeake HQ they even had a naming contest. Some of the finalists: “Audrey’s Way”. “We Frack Deep While Others Sleep”.  ”How to Frack Yankees”. “Fracking Is Good For Your Health”. And, in deference to their new Chinese landlords, ““Help Share Bounty of America’s Glorious 100 Year Supply of Beautiful Gas, OK?” […]

  6. FrackingNutsNation says:
    September 27, 2012 at 10:46 am

    […] probably have to settle for the usual platitudes about how America’s hundred year supply of gas is going to China in 20 years. How locals get jobs on gas rigs . . . if “local” includes Mexico. How […]

  7. The Gas Devil says:
    October 15, 2012 at 8:11 pm

    […] Chinapeake salutes you ! […]

  8. Norse Energy: Rent-A-Plaintiff says:
    October 23, 2012 at 8:55 am

    […] a place where local ordinances do not apply to gas wells – but they could not find a suitable Chinese  company to stand […]

  9. Chinapeake Energy says:
    November 14, 2012 at 12:37 pm

    […] Share/Bookmark In its death spiral, Chesapeake Energy is trying to sell out to the Chinese.  Chesapeake to change its name to Chinapeake which is spelled like this […]

  10. Truthyland: Fracks, Lies and Videotape says:
    November 30, 2012 at 11:14 am

    […] only environmental costs to roads, water supplies and land uses. While the Ponzi gas goes to China . . […]

  11. Chinapeake Natural Gas? says:
    January 24, 2013 at 4:58 am

    […] Chinapeake | by Chip Northrup | July 7, 2012 […]

  12. Frackers Block New York City Courthouse says:
    February 13, 2013 at 12:22 pm

    […] Bob Jr. ” Frak Kin Ho. The Chairman of Chinapeake Energy. That’s who owns these . . . […]

  13. Fracking Gasholes on Wall Street says:
    February 15, 2013 at 8:17 am

    […] Petroleum eloped with Cheseapeake Energy last year to form Chinapeake.  In fact, Chairman Frak Kin Ho of Chinapeake will be the best man today.” Frackham looked at his watch. “Plus there are the […]

  14. Chesapeake’s New York Post Mortem says:
    April 3, 2013 at 8:16 am

    […] 6. Chinapeake made “force majeur” a household world in Upstate. Courtesy of their lease scams, as perpetrated on clueless landowners by Chinapeake’s landmen. If you have a Chinapeake lease, might be a good time to get rid of it. Before they sell it to Frak Kin Ho. […]

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