It certainly looks like Chesapeake is about to collapse. Stock trading halted this morning at a bit over $1.50 per share, bankruptcy attorneys retained, all caused by an upside-down balance sheet, although this has been a slippery slope for them well over one year.
I have producing leases with CHK and have noted that royalty checks are coming, if they come, at different times, and that things in Converse County… well, are apparently in a state of flux.
Bottom line is with all of us who share Chesapeake leases, what happens now?