This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Most Crazy Company Sellers Since the Financial Crisis

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Chesapeake Energy (CHK - Get Report)

Of any oil and gas company, Chesapeake Energy's had the most eventful time dealing with the crisis. The company, who's taken stakes in an array of gas exploration partnerships, has seen its shares plummet and then rocket back during the crisis as its unloaded billions in asset sales.

Overall, Chesapeake Energy's cut 13 sales to raise nearly $14 billion of much needed cash to survive volatile earnings that have swayed between a $5 billion-plus loss in 2009 and a near $2 billion profit in 2010. Meanwhile, the company's only made just one minor purchase, an April 2011 buy of Bronco Drilling for $311 million.

Earnings sways as a result of volatile gas selling prices, a huge overhang of debt, a shortage of cash and a sprawl of energy assets, the U.S. second largest gas producer has, caused Chesapeake shares dip into single digits at some points in the crisis.

To shore up its balance sheet, Chesapeake has relied on foreign buyers. The company sold its Fayetteville shale assets to Australia's BHP (BHP) for $4.75 billion, Barnett shale assets to France's Total (TOT - Get Report) for $2.25 billion, Marcellus shale assets to Norway's Statoil (STO) form $1.25 billion and Eagle Ford shale assets to China's CNOOC (CEO) for another $1.08 billion among others.

The hard work in shale sales has paid off for Chesapeake in the short term however. Its shares have risen over 14% from this time last year, while the Dow Jones Industrial Average and the S&P 500 Index have risen nearly 5%.

5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
AIG $58.35 1.10%
BHP $52.14 0.42%
BP $43.49 0.60%
BBVA $10.13 0.20%
CEO $170.40 -0.40%


DOW 18,114.68 +90.62 0.50%
S&P 500 2,112.43 +4.14 0.20%
NASDAQ 5,018.3320 +12.9410 0.26%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs