- Chesapeake Energy (CHK -5%) trades sharply lower following disappointing production guidance and plans to cut 2014 capex by 20%.
- In the conference call following the news, CHK said its average daily production during December was ~649K boe, well below its 2014 guidance range of 680K-695K; CHK expects Q4 2013 and Q1 2014 will mark its production low point and that it will see a significant Q/Q ramp-up beginning in Q2 (Briefing.com).
- Brean Capital says capital allocation remains the biggest question mark for CHK, and remains unconvinced CHK can truly compete for capital at a sub $5/Mcf gas price.
- CHK's 2014 outlook.
From other sites
at MarketRealist.com (Thu, 2:41PM)
at 4-traders.com (Tue, 1:09PM)
at MarketRealist.com (Sat, 6:06PM)
at Zacks.com (Mar 4, 2015)
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