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
10 Worst Places To Raise A Family Whether you are a young couple building a nest or seasoned parents looking for a change of scenery, there are number of places around the country that should be avoided, according to personal finance website WalletHub. They looked at mainly five categories for... A passenger has filed a lawsuit against Canadian budget airline Sunwing Airlines for serving him cheap sparkling wine instead of champagne on board a flight, according to media reports. The Canadian passenger, Daniel MacDuff, reportedly boarded his Sunwing flight to Cuba in February, on a flight package that advertised a complimentary on-board champagne toast. Senate Health Committee Chairman Lamar Alexander, R-Tenn., and ranking member Patty Murray, D-Wash., announced Thursday that twenty-two other Senators are cosponsoring their bipartisan plan to provide short-term stability to Obamacare. The bipartisan bill includes a two-year extension of the cost-sharing...
comments powered by Disqus
Follow RTT