Chesapeake Energy Corporation (CHK) is an independent oil and gas company engaged in the acquisition, development, and production of onshore U.S. natural gas resources. The company has grown rapidly and is now the second largest natural gas producer in the U.S. The company has also demonstrated considerable drilling prowess, capitalizing on its extensive inventory of acquired undeveloped acreage to make substantial reserve additions.
Currently, Chesapeake Energy has a Zacks Rank #4 (Sell) but that could change following its fourth quarter 2014 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Chesapeake missed the earnings. Earnings per share from continuing operations (excluding special items) came in at 11 cents, below the Zacks Consensus Estimate of 25 cents.
Revenue: Revenues of $5,050 million came above the Zacks Consensus Estimate of $1,627 million.
Key Stats: Chesapeake’s daily production for the reported quarter averaged approximately 67.1 million barrels of oil equivalent (MMBoe). Average daily production consisted of approximately 11.2 million barrels per day (MMBbl/d) of oil, 9 MMBbls of NGL and 281.6 billion cubic feet (Bcf) of natural gas.
Oil equivalent realized price in the reported quarter was $19.68 per boe. Average realizations for natural gas were $1.61 per Mcf, while oil was sold at $67.16 per barrel.
On the cost front, quarterly production expenses were $5.07 per Boe.
Comments
Log in or sign up to join the conversation.