Chinapeake lays off English speaking Americans right and left . . .
Chesapeake retreat ends American energy land grab
Reuters By Edward McAllister | Reuters – 21 hrs ago
NEW YORK (Reuters) – About six years ago, an army of agents hired by energy companies started desperately courting landowners across the United States whose farms and ranches happened to sit atop some of the richest oil and gas deposits in the world. And so began one of the biggest land grabs in recent memory.
Those days are over.
U.S. energy titan Chesapeake Energy is quickly cutting back on an aggressive land-leasing program that in recent years has made it one of America’s largest leaseholders, putting an end to half a decade of frenzied energy wildcatting.
Beset by growing governance and financial problems, and a sharp slump in natural gas prices, the No. 2 U.S. gas driller is reducing by half the ranks of its agents, known in the industry as landmen.
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Shale Drillin says
CHK is hemorrhaging cash by the tens of millions. A glut of gas, warm winters, Wall Street Analysts now warning off investors, Billionaire oilman T Boone Pickens dumping all of his CHK stock at a loss, IRS, Justice Dept, IRS investigations, shareholder lawsuits, a growing number of land owner lawsuits and even mineral right owner lawsuits, Aubrey got booted off his own Board, a record 7 figure fine in Pennsylvania, the pain keeps growing.
Aubrey McClendon is the crack whore of CEO’s. He’ll take any chance, any gamble, any risk, any thing to get that next fix, and all those execs that work for him are just standing there watching him do it. Now he’s whoring himself to the Communists and has a real spin on how Chinese investment is Good For America!
Dollars to donuts CHK exits the Barnett by years’ end.
Chip Northrup says
Language. . . not “crack whore” please
More precise term is “frack ho”