Current Weather
The Spy FM

Aubrey McClendon on “Mad Money”: Chesapeake’s a Target for Short Sellers

Filed by KOSU News in State Impact.
October 20, 2012

Chesapeake Energy CEO Aubrey McClendon sat down with Mad Money‘s Jim Cramer and talked about the company’s future and its recent controversy.

It was McClendon’s first televised interview since questions concerning the intertwined finances of the Oklahoma’s City company and its CEO surfaced earlier this year. In the interview, “McClendon blamed much of the negative press surrounding the company on short sellers,” reports the Journal Record‘s Brianna Bailey:

Chesapeake has become a favorite target for short sellers who like to bet the company won’t make the transition fast enough from natural gas to oil, won’t recover from its governance issues and that natural gas prices will remain low, McClendon said.

“Consider there are people out there with agendas that would like our stock to go down,” McClendon said. “It explains some of the background on the stories about us.”

A Chesapeake drilling rig served as a backdrop for Cramer’s interview, which was taped in Ohio’s Utica Shale, an expansive natural gas play that extends into New York, Pennsylvania and West Virginia. The formation could hold 38 trillion cubic feet of undiscovered gas, Scott Detrow of StateImpact Pennsylvania reports:

In addition to the natural gas, the USGS believes the Utica could hold 940 million barrels of oil, and 9 million barrels of liquid natural gas.


Powered by WPeMatico

Leave a Reply

6AM to 7AM On Being

On Being

On Being engages listeners across the spectrum of belief and non-belief in conversation about life's deepest questions. From autism to the ethics of torture, Krista and her guests reach beyond the headlines to probe faith and meaning, ethics and new ways of being, amidst the political, ecological, economic, cultural and technological shifts that define 21st century life.

Listen Live Now!

8AM to 10AM Weekend Edition

Weekend Edition

Weekend Edition Sunday premiered on January 18, 1987, and was the last of NPR's major newsmagazines to hit air. Since then, Weekend Edition Sunday has covered newsmakers and artists, scientists and politicans, music makers of all kinds, writers, thinkers, theologians and all manner of news events.

View the program guide!

9AM to 10PM Sound Opinions

Sound Opinions

Take two nationally respected rock critics, the latest music news, personal commentary, and exclusive interviews and performances, add a huge pile of records old and new, and the result is Sound Opinions-the world's only rock and roll talk show.

View the program guide!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center