Chesapeake Energy, though, says the new strategic plan has nothing to do with Carl Icahn.
Chesapeake manager of investor relations John Kilgallon wrote in an email to TheStreet, "We have had a strategy to significantly reduce debt in place since May 2010 and our '25/25 Plan' is simply an extension of that strategy. We are always engaged in ongoing discussions with shareholders regarding our strategy and financial plans and we believe this updated plan and reaction in our stock price today is evidence of their continued support."
It's not exactly the type of sanitized words that investors would think represents a "fundamental shift" in Chesapeake's operating philosophy as a result of the Icahn double-down investment.
RBC analyst Hanold said, "Typically guys like Icahn look to shake up a company and influence management and that's today's octane, and to that extent we could see a difference in strategy, but the bottom line is, we need to actually see it."Again, it's going to be words versus deeds with Chesapeake Energy.