- Chesapeake's (NYSE:CHK) Q2 revenues rose 37.9% Y/Y to $4.67B vs. $3.28B consensus.
- Adjusted EBITDA of $1.424B, up 77% Y/Y; operating cash flow of $1.37B, up 53% Y/Y.
- Production averaged ~4.1B cfe, up 7% Y/Y and 2% Q/Q; 3.1B cf natural gas and 168K bbl of liquids, comprised of ~116K bbl of oil and ~52K bbl natural gas liquids.
- Raises FY 2013 oil production guidance by 1M bbl to 38M-40M bbl, a Y/Y growth rate of 22%-28% year over year, due to good well performance, an accelerated pace of Eagle Ford well completions and timing of asset sales; lowers 2013 NGL production guidance by 2M bbl to 21M-23M bbl to reflect ethane rejection.
- Shares +3% premarket. (Q2 results)