Chesapeake Energy Corporation (CHK - Free Report) is an independent oil and gas company engaged in the acquisition, development, and production of onshore U.S. natural gas resources. The company has grown rapidly and is among the leading natural gas producer in the U.S.
Currently, Chesapeake Energy has a Zacks Rank #3 (Hold) but that could change following its second-quarter 2017 earnings report which has just released.You can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Chesapeake reported adjusted second-quarter 2017 profit of 18 cents per share, beating the Zacks Consensus Estimate of 14 cents.
Revenue: Revenues of $2,281 million came above the Zacks Consensus Estimate of $1,072 million.
Key Stats: Chesapeake’s production for the reported quarter was approximately 48 million barrels of oil equivalent (MMBoe), reflecting a year-over-year decrease of 20%. Production consisted of approximately 8 million barrels (MMbbls) of oil (in-line year-over-year), 209 billion cubic feet (bcf) of natural gas (down 22.3% year-over-year) and 5 MMbbls of NGL (down almost 29% year-over-year).
Oil equivalent realized price – including realized gains (losses) on derivatives – in the reported quarter was $22.42 per barrel of oil eqivalent compared with $16.43 a year ago.
Check back later for our full write up on this Chesapeake Energy earnings report later!
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