The Audacity Of Hope At Chesapeake Energy
From Wall Street Journal
What are good intentions worth? The best part of $1.1 billion if Tuesday’s jump in the market value of Chesapeake Energy is anything to go by.
Second-quarter results showed operating cash flow fell by almost half to $755 million. Capital expenditure and acquisition spending was almost five times that level, however, and long-term debt still increased despite $2.7 billion of asset sales.
