Chesapeake Energy's turnaround is working
Shares are up nearly 60% this year.
CHK is also collaborating with 3M in designing lighter CNG tanks for automotive use.
CHK is partnering with Clean Energy Fuel Corp. ($160 million) to create Americas NG highway system for the trucking industry.
Chesapeake has committed $155 million to acquire 50% ownership of Sundrop Fuels Inc, which has developed an affordable natural gas-based green gasoline that is compatible with todays engines and fueling infrastructure. The result is a shelf-stable, ready-replacement fuel for the costly foreign oil.The company plans to roll out its proprietary Diesel Natural Gas technology, which permits diesel engines to be retrofitted to run on a blend of natural gas and diesel.
Chesapeake is working with major appliance manufacturers to release a CNG home-refueling appliance, targeting a cost of $1,500, instead of the current $5,000 price tag. This appliance would give 65 million American homeowners and more the 5 million commercial facilities the opportunity to take advantage of the current 75% discount to gasoline prices.
To date, Chesapeake has invested $4 million with Love's Travel Stops & Country Stores and OnCueExpress, to enable more than 35 new CNG stations to be built in Oklahoma. It is committed to investing another $50 million with other convenience store and travel center operators to add CNG fueling pumps to at least 200 existing stations throughout the U.S.
Crazy....Good luck with CHK....As you know we cleared out of that and Statoil(STO)..
Concentrated on ConocoPh (Cop), Phillips and some more pipelines and refiners..
Hope you do well with Chesapeake..
They have been looking good lately and plenty of prospect down the road..
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