Oil Spin Off Company

Big Oil Bring Small Oil Company ($BAC $CHK $GS)

Photo Credit.

We have seen it before, big oil companies creating smaller companies. This is the current case with Chesapeake Energy. They are currently working to create a smaller spin off company. Paul Ausick gives some additional details about the company.

 

Chesapeake Energy Corp. (NYSE: CHK) will spin-off its wholly-owned oilfield services business into a new company to be called Chesapeake Oilfield Services Inc., which will trade on the NYSE under the stock symbol ‘COS’. The filing indicates that the company hopes to raise $862.5 million from the offering, but the filing does not indicate how many shares will be sold. Underwriters for the offering are Goldman Sachs Group
Inc. (NYSE: GS) and Bank of America Corp.’s (NYSE: BAC) Merrill Lynch.

CHK
Keep you eyes open for this new company. If you are currently invested in CHK this could be a good sign for your stock as well. Keep an eye open for the new company and CHK together!

Quotes taken from report by Paul Ausick, Read the entire article here.

This is not an offer to buy or sell securities. Oil investment carries with it very high risks. The information contained within this site has not been nor will it be verified by Envestor First and is subject to change at any time. We are not a United States Securities Dealer or Broker or United States Investment Adviser. Do your own due diligence and consult with a licensed professional before making any investment decisions. Please read our full disclaimer before making any decisions.

Leave A Comment

Oil Projects & Oil Investment Consulting

Oil Projects & Oil Investment Consulting

Oil Projects & Oil Investment Consulting

Oil Projects & Oil Investment Consulting

WHAT OTHERS ARE SAYING

    Permian Basin Stocks

    Permian Basin Stocks

    Archives