| Here Are 175 Resource Companies On The Verge Of Financial Upheaval | |
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And Moody’s wasn’t the only agency raising concerns about resource companies. With Standard & Poor’s (S&P) following suit this week in lowering its commodity price assumptions for the coming years. S&P said Monday it has cut its 2016 and 2017 forecast for WTI crude by 20 percent. And also dropped its forecast price for Henry Hub natural gas by 15 percent for the next two years. Related: 60 Reasons Why Oil Investors Should Hang On That prompted S&P to issue an immediate credit downgrade on one major oil and gas player: shale specialists Chesapeake Energy. A move that caused a single-day, 16 percent fall in Chesapeake’s share price. The big drop in S&P’s assumptions could trigger similar downgrades for other oil and gas firms. Suggesting we may hear more soon about problems in energy credit markets — and see commensurate hits taken by public companies in the space. Related: Oil Prices in 2016 Will Be Determined By These 6 Factors The real pain will come when these firms need to refinance debt. Chesapeake, for example, has $2 billion in liabilities coming due in 2017 (against a current market capitalization of just $2.1 billion) — meaning the company needs a significant turnaround in investor sentiment, right away. This could be one of the biggest trends unfolding in 2016. Watch for news on more credit downgrades — and for attempts at debt refinancing by firms across energy and mining. Here’s to keeping it real By Dave Forest More Top Reads From Oilprice.com:
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Chesapeake Energy Corporation
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DEVELOPMENT STAGE |
CODE : CHK |
ISIN : US1651671075 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Chesapeake Energy is a producing company based in United states of america. Chesapeake Energy develops natural gas and oil in USA. Its main asset in development is DEEP BOSSIER in USA. Chesapeake Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 74.1 billions as of today (€ 66.5 billions). Its stock quote reached its lowest recent point on March 13, 2020 at US$ 0.12, and its highest recent level on November 18, 2022 at US$ 99.94. Chesapeake Energy has 909 242 558 shares outstanding. |