Severe winter weather hitting Chesapeake's natural gas output

|About: Chesapeake Energy Corporation (CHK)|By:, SA News Editor

Freezing weather across the U.S. this winter have pushed demand for natural gas to all-time highs, but at the same time a number of companies are saying the foul weather is hurting production.

The latest is Chesapeake Energy (CHK), whose oil and gas output in December was well below its expectations due to "weather challenges" that continued into January and February, CEO Doug Lawler told analysts on today's earnings call.

Anadarko (APC) said yesterday during its call that its operations in Colorado were finally returning to normal.

Estimated U.S. natural gas output is running ~800M cf/day lower than the 30-day moving average and is off 1.5B cf/day from the start of this year when temperatures were more moderate.