So what's the story on OKC's Aubrey McClendon ? (Bartlesville, Phillips: real estate, loan)

[JimBaker488]

I can't help but follow this guy because I still own a few shares of Chesapeake
Energy, and McClendon is of course the CEO over there but more importantly a huge advocate and in part responsible for the renaissance in the O&G industry led by the fracking & horizontal drilling technology. And then locally I understand that he's also got an ownership interest in the Thunder ?
But Aubrey can also be a bad-boy the way he messes around with shareholder assets like he's the only one who owns CHK. My favorite story is how he got the BODs to loan him millions using only his stamp-collection as collateral. Of course, if the BODs are in your pocket you can pretty much tell them what to do anyway, right ?
But he's certainly a colorful, swashbuckling, entrepreneurial type who seems to be
driven by a boom-bust mentality ?

[#1soonerfan]

I think the story is pretty self explanatory. AM is actually pretty smart and has some very visionary thoughts about natural gas. The problem is when everyone else starts telling you what a brain you are, you start getting an ego and start throwing out common sense. Plus, CHK is a fairly young company, started in 1989 I believe, so he never experienced the disastrous energy bust that paralyzed this state back in the early 80's and more or less put an end to the crazy wildcatter behavior in other old time oil guys.

He is making a lot of people in this town very nervous. AM's tentacles reach far and wide in OKC, from ownership in the Thunder to vast real estate holdings in and around his corporate campus, including a large retail development (Classen Curve). I don't want to bash him. I think he and CHK have down a lot of great things for OKC. Should he go down, OKC will feel it hard. So for everyone's sake, I hope this recent spate of bad press will spook him into toning it down a little. Although the chance for that is pretty low.

[JimBaker488]

Looks like they clipped Aubrey's wings with this shakeup on the CHK Board of Directors and his removal as Board Chairman. No matter what happens here on out, he's already done a lot for the company and for OKC and I'm sure will add to his many accomplishments.
BTW, congrats to Thunder owner Aubrey and the city for getting the lead in your series with SA, and good luck on winning tomorrow night at home and advancing to the NBA Finals !

[Good_lance]

Ya. That is what worries me about getting a house in Bricktown. I have been thinking about the getting a house for a few months now, but if CHK goes down, I am not too sure what will happen to real estate value in OKC

[kyle450rider]

AM and Chesepeake will be fine. All they need to do is weather the storm. With him removed it will ease shareholders and make the BOD's make more rational decisions. They need to up there worth and start to knock down debt. Personally I think they will be fine.

[#1soonerfan]

Originally Posted by Good_lance

Ya. That is what worries me about getting a house in Bricktown. I have been thinking about the getting a house for a few months now, but if CHK goes down, I am not too sure what will happen to real estate value in OKC

Buy the house if you want to.

Now that the board has finally gotten serious about getting CHK on track I think the possibility of them collapsing into bankruptcy is pretty low. Aubrey McClendon on the other hand.....

OKC is bigger than one company. This area is more or less at full employment and several companies (Continental, Boeing, Sandridge, heck even Hobby Lobby) are in major expansion mode.

[JimBaker488]

Originally Posted by #1soonerfan

OKC is bigger than one company. This area is more or less at full employment and several companies (Continental, Boeing, Sandridge, heck even Hobby Lobby) are in major expansion mode.

I might be mistaken, but isn't Devon also one of OKCs biggest employers ?

[debzkidz]

Originally Posted by JimBaker488

I might be mistaken, but isn't Devon also one of OKCs biggest employers ?

Yes. I read somewhere recently that they have something like 2,500 employees.

[JimBaker488]

I'm getting off the subject some here, but it still pertains to OK and employment in the O&G industry: anyone know what's left with Conoco and/or Phillips 66 up in Bartlesville ?
I saw recently where COP spun-off Phillips into a separate company and I'm wondering what remains in Bartlesville ? I've heard that IT is still in Bartlesville,
what other divisions/operations are still there ?