Chespeake Energy (CHK +0.6%) is making progress in cost reductions and is on track for at least...

|By:, SA News Editor

Chespeake Energy (CHK +0.6%) is making progress in cost reductions and is on track for at least operating expenses and G&A expenses to come in at or below budget this year, interim CEO Steven Dixon says on a conference call, expressing "tremendous confidence" that CHK's spending would not exceed its planned drilling budget of ~$6B.