Categories Earnings, Energy

Chesapeake Energy Corporation (CHK) Q4 2019 Earnings Snapshot

Chesapeake Energy Corporation Q4 2019 earnings

—  Chesapeake Energy Corporation (NYSE: CHK) reported a loss of $0.04 per share in the fourth quarter of 2019, vs $0.06 per share loss expected.

— Q4 revenue fell 31% to $1.9 billion, vs. $2.1 billion expected.

— Oil production grew approximately 45% YoY in Q4 amidst decline in average prices for its oil, natural gas and NGL production.  

— For 2020, the company sees Capex budget cut of about 30%. Chesapeake also plans to maintain flat oil production, while decreasing gas production.

— CHK shares rose 4.7% immediately following the announcement.  

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