Total JV Further Positions CHK For Potential Acquisition
Mr. Milller put out a note on CHK last night before the JV with Total was announced for public interest.
What is of noteworthy is that JV's CHK has formed with Total, BP, Statoil, etc, reinforce a potential acquisition of CHK by a major oil company, as they all utilize similar oil and gas field interest drilling rights and industry players are more comfortable risk sharing in individual production fields or in CHK case, shale formation.
Mr. Miller does not believe CHK will be independent by the end of 2010 given industry consolidation and the need of larger players to add natural gas reserves to their portfolio's quickly.
To see Mr. Millers full article go to: www.stockhouse.com/Blogs/ViewDetailedPost.aspx
Disclosure: Long American Energy Companies