logo
Share SHARE
FONT-SIZE Plus   Neg

Chesapeake Energy Q4 Profit Rises - Quick Facts

Chesapeake Energy Corp. (CHK) reported that its fourth-quarter net income to common stockholders was $429 million or $0.63 per share, up from $180 million or $0.28 per share in the same quarter last year.

Excluding the items, for the 2011 fourth quarter, Chesapeake reported adjusted net income to common stockholders of $394 million or $0.58 per share.

Total revenues for the quarter rose to $2.73 billion from $1.98 billion in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.59 per share on revenues of $3.05 billion. Analysts' estimates typically exclude special items.

Chesapeake's operated dry gas drilling capital expenditures in 2012, net of drilling carries, are expected to decrease to $0.9 billion, a decrease of approximately 70% from similar expenditures of $3.1 billion in 2011 and the company's lowest expenditures on dry gas plays since 2005.

Chesapeake said that it has increased its current liquids production to more than 110,000 bbls per day. The company projects that its 2012 net liquids production will increase by approximately 63,000 bbls per day, or more than 70% year over year, to an average of approximately 150,000 bbls per day.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Delta Air Lines Inc. (DAL) pilots, represented by the Air Line Pilots Association International, are picketing on Friday at several airports across the country. The pilots said the picketing was to raise the sense of urgency in ongoing contract negotiations. The negotiations between the pilots... Charter Communications, and its recently acquired subsidiary Time Warner Cable, have been regularly overcharging its consumers to a tune of $7.2 million per year, according to a report from the U.S. Senate's Permanent Subcommittee on Investigations. According to the report, Time Warner Cable over-billed... Popular photo sharing network Instagram is adding a new translation button on its pages, so that the global crowd can read and enjoy the captions and comments given for the photographs uploaded. The new update will be available from next month onward.
comments powered by Disqus
Follow RTT