Analysts said that Chesapeake needs to raise about $8 billion to fund its capital spending, but the company may not meet its projected price of $12,000 to $16,000 per acre for a joint venture sale of about 30% of its Utica shale in Ohio.
remind me again but what did SSN pay per acre? and what did they sell acreage for? $3200 per acre?
SSN sp based in part on a discounted cost per acreage of what was it again?
Now if i'm reading this right and CHK manage to sell at even $12000 per acre what does it say about the value of the land of SSN and more importantly the sp of SSN?
on 40000 acres alone that equates to $480,000,000 which in itself is more than twice the current market cap!
SSN Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
