More Videos:

A Tale of 2 Energy Companies

Tickers in this article: CHK ESV

ESV's management had guided for higher average day rates in 2013. This wouldn't be too surprising since its deep-water rigs in the Gulf of Mexico and Middle East already have a 100% and 95% utilization rate. In the industry that's what a drilling rig fleet company would be shooting for.

Ensco, which is headquartered in the U.K., owns and operates an offshore drilling rig fleet of approximately 77 rigs, including 7 drill ships, 13 dynamically positioned semisubmersible rigs, seven moored semisubmersible rigs, 49 jackup rigs, and one barge rig used to drill and complete oil and natural gas wells.

Its drilling rigs are located in Brazil, Europe and Mediterranean region, the Middle East and Africa region, and the Asia Pacific rim region. ESV serves government owned, and independent oil and gas companies, as well as various independent operators. Check out its colorfully beneficial Web site for more details and specifics.

There's at least a 50-50 chance that both CHK and ESV may correct after the earnings news is out and both companies have spilled the beans. CHK will be affected by any news about who will take CEO McClendon's place and also by the tone of the company's forward guidance about 2013.

As the AP report mentioned above reminded, "McClendon was stripped of his role as board chairman in May. Last month Chesapeake announced McClendon would leave the company April 1 amid philosophical differences."

Chesapeake shares closed down 12 cents to $20.24 Wednesday. They have traded in a 52-week range of $13.32 to $26.09. Patient investors may be able to buy shares around $18.40, which would constitute a 50% retracement of the shares ascent since the Jan. 10, 2013, intraday low of $16.37.

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Jim Cramer and Stephanie Link actively manage a real money portfolio for his charitable trust- enjoy advance notice of every trade, full access to the portfolio, and deep coverage of the latest economic events and market movements.