Shale oil has a refining problem, and Morgan Stanley thinks investors can profit from it [CNBC]
Chesapeake Energy Corporation (CHK)
Last chesapeake energy corporation earnings: 2/26 07:00 am
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Source: CNBC
Robert Nickelsberg | Getty Images A floor crew pull steel pipe out of a natural gas well in the Barnett Shale of Fort Worth, Texas that is owned by Chesapeake Energy Corporation. Surging U.S. oil supplies may soon struggle to find a buyer, and Morgan Stanley believes that could create winners in the stock and commodity markets. Output from American shale oil fields has pushed U.S. crude production to all-time highs. But Morgan Stanley warns that the nation's shale wells are mostly yielding a type of light oil for which domestic refiners don't have much use. Most American refineries are configured to process heavier crude grades, creating a mismatch with the growing supply of light shale oil being extracted in places like the Permian Basin in Texas. Our thesis is that the US refining system is close to being maxed-out on the amount of shale oil it can process, wrote Morgan Stanley equity analysts, led by Martijn Rats, the head of the bank
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News
- CHESAPEAKE ENERGY CORPORATION PROVIDES 2024 FIRST QUARTER EARNINGS CONFERENCE CALL INFORMATIONPR Newswire
- Can Chesapeake Energy Handle A Low Natural Gas Price Environment? [Seeking Alpha]Seeking Alpha
- Bearish: Analysts Just Cut Their Chesapeake Energy Corporation (NASDAQ:CHK) Revenue and EPS estimates [Yahoo! Finance]Yahoo! Finance
- Chesapeake Energy Co. (NASDAQ: CHK) had its price target raised by analysts at Scotiabank from $92.00 to $110.00. They now have a "sector perform" rating on the stock.MarketBeat
- Chesapeake Energy Co. (NASDAQ: CHK) had its "buy" rating re-affirmed by analysts at Mizuho. They now have a $100.00 price target on the stock.MarketBeat
CHK
Earnings
- 2/20/24 - Beat
CHK
Sec Filings
- 4/11/24 - Form S-4/A
- 4/9/24 - Form 4
- 4/9/24 - Form 4
- CHK's page on the SEC website