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Founded in 1989, Chesapeake Energy (CHK) has grown to become the second largest producer of natural gas and one of the most active drillers of new wells in the U.S. Chesapeake competes with other oil and gas producers like Exxon Mobil (XOM), ConocoPhillips (COP), Anadarko (APC), BP (BP) and Chevron (CVX). Chesapeake owns interests in around 44,100 producing natural gas and oil wells that are currently producing around 2.4 billion cubic feet equivalent (bcfe), 93% of which is natural gas.
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FeedChesapeake Results Confirm Upside; Shale Sale Looks Like a Bargain
Continue reading Chesapeake Results Confirm Upside; Shale Sale Looks Like a Bargain
Devon Energy: Well-positioned for higher oil prices
Given oil's recent run-up, at times it appears that all oil/natural gas plays have been bid-up, but Devon Energy (NYSE: DVN) hasn't and it's worth a review.
Devon's shares were rudely treated by the Street from mid-2008 to early-2009, following the collapse in oil prices. Some of it was justified, due to the large, likely decline in FY 2009 revenue stemming from crude's price collapse. But valuing DVN with a p/e of 6 or 7 is a tad low, given the company's assets, hence the Buy rating that has been generated here.
Continue reading Devon Energy: Well-positioned for higher oil prices
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