Jeff Goodell has a good story here on how (shades of the real estate bubble) the gas-fracking bubble is about "flipping" land as much as anything at times.
It seems clear that land rights ... given that Chesapeake was started by a landman .... are a major driver of company business.
And that bubble? Chesapeake is worried about refinancing $10 billion in long-term debt, and Wall Street is reportedly worried, too.
The savvy among us have for some time seen the bubbly nature of the gas exploration itself; but, that seems to be nothing compared to the bubbliness of the land speculation.
No comments:
Post a Comment