Natural gas man T. Boone Pickens told CNBC last night he has pulled out of Chesapeake.Pickens’ BP Capital had previously held about $13 million worth of CHK shares, the network reported, or 9 per cent of BP’s total fund.
Chesapeake CEO Aubrey McClendon “is a good friend,” Pickens said, and he “wouldn’t count Aubrey out.”
However, Pickens added, “I don’t like the position he’s in” and noted McClendon “is spending more than his cash flow, he’s done that for 10 years.”
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