Time to celebrate, Chesapeake Energy investors. After more than two years of massive sell-offs to meet major funding gaps, the company has just announced that it will not require any additional asset sales to meet its capital budget for the rest of this year, as well as all of 2014. This doesn't mean that the company will completely stop selling, but it certainly changes the approach Chesapeake will take when it does make a sale.
The company's ability to put more of its capital budget toward drilling, and less toward holding lease rights, will certainly help drive production and revenue, But is it enough to change the investment thesis on Chesapeake? Tune into the video below, where Fool.com contributors Tyler Crowe and Aimee Duffy take a deeper look at Chesapeake's turnaround.
Chesapeake's success, like every other oil company in the United States, will be determined by how successfully it can use new technologies that have unlocked the massive resources here at home. For this reason, we have put together a comprehensive look at three energy companies taking advantage of the new paradigm in American energy. Let us help you discover these three companies that are spreading their wings by checking out our special report, "3 Stocks for the American Energy Bonanza." Simply click here and we'll give you free access to this valuable report.
The article The Big Change That Chesapeake Investors Have Waited For originally appeared on Fool.com.Fool contributor Aimee Duffy has no position in any stocks mentioned. Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow them both on Twitter@TMFDuffy and @TylerCroweFool, respectively. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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