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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: tom pope who wrote (73919)10/26/2006 11:56:01 PM
From: Spekulatius   of 206160
 
regarding CHK earnings -look at the fineprint.

Diluted Sharecount YOY up 28.5%. Debt up 2.5B$. Proved Reserves up 11% YOY. Production up 22%. Looks like CHK has actually destroyed shareholder value during the last year, when you normalize the larger asset base by the growth in sharecount.

Also DDA expenses are up 20% YoY to 2.4$/mcfe. The new reserves and the drilling at current dayrates comes at a high price. Sure, the 150M$ in hedge gains last quarter are nice but those are one time gains that actually could turn into losses once NG prices go back up again.

Compare these numbers just for fun with CXG, a gas company that growth it's production and gas reserves in a very efficient manner, IMO.
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