Chesapeake and Valero: Running Out of Gas?
Friday, June 30th, 2006A few days ago I bought back into Chesapeake Energy (CHK: chart) when it was at $29 per share on June 27. The stock has been down a bumpy road for the last two months as natural gas futures ($NatGas: chart) started to reflect the warm temperatures through last winter and increasing natural gas reserves.
Just after I purchased the stock, the company stated it would issue 25 million more shares at $29.05 to pay for Barnett Shale Acquisitions, repay debt, and for other general corporate purposes.
As I mentioned in a previous post, I …





