MarketFoolery: 02.14.2012
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 14 February 2012
⏱️ 12 minutes
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Summary
Chesapeake Energy announces that it's making a big sale. And authorities in Uzebekistan crack down on Valentines Day. Our analysts discuss those stories and delve into Warren Buffett's love for See's Candies.
Transcript
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| 0:00.0 | It's Tuesday February 14th and this is market foolery. |
| 0:05.0 | I'm Chris Helen joining me in studio today for million dollar portfolio Charlie Travelers and for Motley |
| 0:09.1 | Full Inside Value Joe Maker. |
| 0:11.0 | Gentlemen, happy Valentine's Day. |
| 0:12.0 | Hey, happy Valentine's Day. Joe Maker. Gentlemen, happy Valentine's Day. |
| 0:14.0 | Joe Maker already digging into the box of chocolate that we have on the table here. |
| 0:18.0 | It's an animal. |
| 0:19.0 | We will get to the chocolate in a moment. |
| 0:22.0 | In honor of Valentine's Day we will talk about the |
| 0:24.4 | business of one candy maker but we are going to start with Chesapeake Energy. |
| 0:28.3 | The company is preparing to sell its oil and gas fields in Texas and New Mexico for as much as 12 billion dollars. |
| 0:35.8 | Chesapeake and other exploration and production companies like Conoco Phillips have been cutting |
| 0:39.8 | back on gas production. |
| 0:40.8 | So Joe, I will start with you. 12 billion dollars. That's going to look good. on They have a number of positions throughout the country. They basically went on this huge |
| 0:55.2 | land grab and got all these leaseholds trying to grow production in a big way and then the bottom |
| 1:01.0 | fell out in natural gas. They were too leveraged and so now they're trying to unlock value by selling all these properties. |
| 1:07.0 | That's good. |
| 1:08.0 | That is good. The bad news is they've once again gone back on their word about not taking on debt. |
| 1:13.4 | Just on Thursday, the head of IR was bragging that they had cut their debt load by $2 billion. |
| 1:20.0 | On Monday, they announced they are raising a billion dollars in 10 year debt to help |
| 1:24.5 | finance. Maybe something changed over the weekend. Yeah. Maybe he ran the numbers again |
| 1:28.8 | and was just like no actually we was like oh dude I missed a few zeros. |
... |
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