T. Boone Pickens’ BP Capital sold all of its shares in Oklahoma City-based Chesapeake Energy Corp. and most of its holdings in SandRidge Energy Inc. while investing in other energy companies, including Oklahoma City-based Devon Energy Corp., according to regulatory filings.
The portfolio changes reflect commodity prices more than his opinion on the various companies, Pickens told The Oklahoman on Wednesday.
“The reason for the reduced position on those was the price of natural gas,” he said. “Those positions moved over more to companies that have more oil instead of natural gas.”
From staff reports