Analyst: Chesapeake is "Stuck in a Natural Gas Nightmare"

From Seeking Alpha:
When reviewing the financials of Chesapeake Energy (NYSE:CHK) and comparing them to some other independent oil and gas exploration giants, the company stacks up favorably in a lot of metrics. It has larger production numbers and even produces more revenue than some of the hot players likeEOG Resources (NYSE:EOG) and Anadarko Petroleum (NYSE:APC), but Chesapeake lacks substantially in the key area of valuation for a couple of key reasons. 
Right now, Chesapeake has an enterprise value half that of EOG and Anadarko and it isn't due to the high debt level issues of the past that are mostly resolved now. The prime reasons are the inability to shift production towards oil and the low pricing realizations for the substantial quantities of natural gas it does produce. 
Shift That Never Happened 
A few years back, Chesapeake Energy was part of a cohort of natural gas exploration companies that planned to shift production towards oil and liquids. The company cut back production in the Haynesville Shale and shifted production towards areas like the Eagle Ford and Utica with the expectation of increasing oil numbers. Well a few years later and the shift has been a huge bust. The company actually saw natural gas percentages rise in Q2 to 72%, which is nearly impossible with the total sitting at 71% for Q1.
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