Wed, May 6, 8:26 AM
- Chesapeake Energy (NYSE:CHK) +1.5% premarket after beating Q1 earnings estimates but falling well short on revenues, and slightly raising its oil and gas production forecast for the year.
- CHK posted adjusted EBITDA of $928M vs. $1.515B in the year-ago quarter, and cash flow fell to $910M from $1.614B, due mostly to lower realized oil, natural gas and natural gas liquid prices.
- CHK’s Q4 average realized price for oil was $62.57/bbl, down from $85.08 in last year's Q1 and $76.40 in Q4, natural gas prices fell $0.90/MMcf Y/Y and $0.65 Q/Q, and natural gas liquids prices fell $22.46/bbl Y/Y and $6.12 Q/Q.
- CHK says Q1 oil and gas production averaged 686K boe/day, up 14% Y/Y after adjusting for asset sales, and now expects output of 640K-650K boe/day following its earlier forecast of 635K-645K.
- CHK operated 54 rigs on average in the quarter, compared with 67 in Q4 and 60 in the prior-year period, and expects to finish 2015 with 35-45 rigs, down 38% from an average of 64 rigs in 2014 and the lowest total since 2004.
- Says Q1 average production costs totaled $4.84/boe, down 5% Q/Q and 2% lower Y/Y.
- Q1 capital spending rose 8.6% Y/Y to $1.49B; reiterates guidance for $3.5B-$4B in capex for the full year.
Wed, May 6, 7:01 AM| Comment!
Tue, May 5, 5:30 PM
- ANSS, ARQL, ATHM, AVA, AYR, BAM, BUD, CEQP, CHH, CHK, CKSW, CLH, CMLP, CRNT, CRZO, CSTE, DAVE, DDD, DNR, EE, EGAN, ENB, EXK, GDP, GLOG, HAIN, HCLP, HFC, HSC, HSNI, HTA, IMN, INFI, KELYA, LAMR, LG, LINC, MEMP, MPO, MSI, MWE, NOR, NXTM, OXY, PERI, PGNX, POWR, RDC, RHP, SBGI, SCMP, SE, SNH, SODA, STRA, SUP, SWC, TMHC, TRXC, VG, VOYA, VSI, WCG, WD, WEN, WIX, WMC, WPX, XLS, XRAY
Wed, Feb. 25, 8:18 AM
- Chesapeake Energy (NYSE:CHK) -4.4% premarket after reporting weaker than expected Q4 earnings and saying it will cut its 2015 spending and rig count in response to lower crude oil prices.
- CHK says it plans total capital spending of $4B-$4.5B in 2015, 37% lower at the midpoint than the $6.7B spent in 2014, and will operate only 35-45 rigs this year, the lowest number since 2004 and down from an average of 64 rigs in 2014.
- Even with the cutbacks, CHK forecasts 2015 oil and gas production to grow 3%-5% to 645K-655K boe/day.
- In Q4, CHK's average production increased 12% Y/Y to 729K boe/day, while revenue rose 11% to $5.05B and driven by 47% revenue growth in its natural gas, oil and natural gas liquid segment; operating expenses fell 4.7% to $4.09B.
Wed, Feb. 25, 7:05 AM| Comment!
Tue, Feb. 24, 5:30 PM
Nov. 5, 2014, 9:17 AM
- Chesapeake Energy (NYSE:CHK) +3.8% premarket after Q3 earnings easily beat Wall Street estimates, posting a 17% Y/Y increase in revenues driven by 48% revenue growth in its natural gas, oil and natural gas liquid segment as production increased.
- Q3 production averaged 725.6K boe/day, up 11% Y/Y, adjusted for asset sales; oil production rose 5% to 118.9K bbl/day, production of natural gas liquids jumped 14% to 95.9K bbl/day, and natural gas production gained 3% to 3.1B cf/day.
- Analysts at Tudor Pickering Holt had estimated CHK's Q3 production at 704K boe/day, and characterize the results as a "strong beat."
- For the full year, CHK estimates production to rise 9%-12%, with liquids production up 29%-33%, oil production up 11%-15%, NGL production up 63%-68%, and natural gas production up 4%-6%. The daily equivalent total is expected to be 695 million to 705 million barrels a day.
Nov. 5, 2014, 7:02 AM| Comment!
Nov. 4, 2014, 5:30 PM
- ACT, ANSS, ARIA, ATHM, AVA, AWR, AXAS, BBEP, BPI, BSFT, CBB, CCC, CEQP, CHK, CLH, CNP, COV, CSTE, CTSH, DAVE, DNR, DUK, EE, ENB, ENDP, FSS, GLDD, GTN, HFC, HL, HRC, INXN, KELYA, LAMR, LPX, LVLT, MDLZ, MEMP, MGA, MNTA, MVIS, NICE, NRG, NUS, OGE, PWE, PWR, RDC, RLGY, ROC, RRD, RTI, SBGI, SE, SEP, SMG, SSYS, STWD, SWC, THI, TMHC, TRGT, TW, TWX, VG, VOYA, WCG, WIX, YORW
Aug. 6, 2014, 8:26 AM
- Chesapeake Energy (NYSE:CHK) -3.3% premarket after missing Q2 earnings estimates, hurt by a loss on the repurchase of debt securities related to a refinancing and lower prices for natural gas liquids.
- However, CHK raises its midpoint of 2014 production outlook by 10K boe, or 1.5%, to 685K-705K boe/day, attributable to better production trends in H1 and an expected increase in well connections during H2.
- Q2 oil and natural gas production, adjusted for asset sales, totaled 694,650 boe/day, up 13% Y/Y, consisting of ~113K bbl/day of oil, 84.3K bbl/day of NGL and 3B cf/day of natural gas.
- Q2 production of natural gas liquids rose 72% but the average price CHK received in the quarter fell 13% to $21.03/bbl.
Aug. 6, 2014, 7:04 AM| Comment!
Aug. 5, 2014, 5:30 PM
- ANR, AOL, APO, ARIA, AVA, AVT, BRKR, CEQP, CHK, CLH, CMLS, CNP, CONE, CSTE, CTSH, DBD, DISH, DNR, DVN, DWSN, EE, ELOS, GEO, GOV, GWPH, HFC, HNT, INXN, IPXL, ITC, KELYA, LINC, LIOX, MDLZ, MEMP, MVIS, NAVB, NUS, PERI, PH, PKD, POWR, RDC, RL, ROC, SBGI, SE, SEP, SF, SJI, SKYW, STWD, TAP, THI, TRGT, TWX, VC, VIAB, VITC, VOYA, WD, WIX, WPX, ZINC
May 7, 2014, 8:23 AM
- Chesapeake Energy (CHK) +2.6% premarket and may be poised to begin trading at a 52-week high after Q1 earnings and revenues skyrocket Y/Y and easily beat Wall Street expectations.
- Q1 oil and gas production totaled 675.2K boe/day, up 11% Y/Y after adjusting for asset sales, consisting of 109.5K barrels of oil, 84.2K bbl of natural gas liquids and 2.9B cf of natural gas.
- Average price it received for its gas during Q1 was $3.27/M cf, up from $2.13/M cf a year ago.
- Raises 2014 total production growth outlook 9%-12%, up from an earlier forecast of 8%-10% growth, to reflect higher than expected natural gas liquids volumes; raises the midpoint of 2014 operating cash flow outlook by 13% to $5.8B-$6B from prior $5.1B-$5.3B due primarily to the increased production outlook.
May 7, 2014, 7:02 AM| Comment!
May 6, 2014, 5:30 PM
- AGN, ALE, AOL, ARIA, ARQL, ATRO, AVA, AYR, BAM, BUD, CHK, CLH, COT, CTSH, DUK, DVN, DWSN, DX, EE, ENB, END, FWLT, GTIV, GWPH, HNT, HTZ, HUM, INXN, KELYA, KING, LAMR, LGND, LINC, LMIA, MDLZ, MEMP, MZOR, NAVB, NJR, NTLS, NVDQ, POM, PRGO, QRE, RIGL, ROC, SBGI, SE, SEP, SFUN, SNSS, SPAR, SPB, STRA, SUSP, SUSS, TAP, THI, TLM, TMHC, TPC, TRGT, USAC, VOYA, VSI, WBAI, WPX, WRES, XEC.
Feb. 26, 2014, 8:15 AM
- Chesapeake Energy (CHK) -3.1% premarket after swinging to an unadjusted Q4 loss, hurt by charges related to its efforts to reduce debt and simplify its balance sheet, and adjusted earnings and revenues fall short of expectations.
- Average daily oil production rose 15% Y/Y but fell 7% Q/Q, average daily natural gas liquids production gained 26% Y/Y and 9% Q/Q, and natural gas production slipped 3% Y/Y and 1% Q/Q; planned reductions were responsible for most of the decrease, but cold weather also had an impact.
- So far in 2014, CHK has received $209M net proceeds from asset sales and expects to receive $150M-plus related to asset sales in 2012-13; the anticipated sale of its oilfield services business is seen generating another $650M.
- Proved reserves were 2.7B boe at year-end 2013, a 2% increase from year-end 2012.
CHK vs. ETF Alternatives
Chesapeake Energy Corp is a natural gas and oil exploration and production company. It explores, develops and acquires properties for the production of natural gas and crude oil from underground reservoirs and also provides marketing & midstream services.
Other News & PR