They don't have the ability to access debt markets and keep kicking the can like they have been.
WHY IS CHK STOCK GOING UP PLUS
They can barely make interest payments right now (in sub $50 oil and $2 gas) given $9B+ of debt plus they also have looming debt maturities coming - ~$175M in August and $75M in November 2020 (and another $150M in February 2021). It's taking forever to be announced given the complex negotiations with the lenders and other debt holders. LINK You are kidding yourself if you don't think BK is coming. Mason Hawkins, at the time two of the driller’s biggest investors.
The talks with lenders come almost seven years to the date that Lawler assumed the helm at the Oklahoma City-based company at the behest of Carl Icahn and O.
Gordon Pennoyer, a spokesman for Chesapeake, declined to comment. Lawler’s denouement, in turn, would signal the deep peril facing a shale industry largely built according to McClendon’s blueprint for Chesapeake: amassing incredible debts to pursue aggressive drilling programs that ultimately unearthed too little treasure to reward investors. for title of king of American natural gas comes after Chief Executive Officer Doug Lawler’s 7-year effort to untangle the financial and legal legacies of Chesapeake’s late founder, Aubrey McClendon. The dwindling options for a powerhouse that once rivaled Exxon Mobil Corp. shale revolution to senior lenders, according to people with knowledge of the matter. is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the U.S.
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