Chesapeake Energy Corp. (CHK) Misses Q2 EPS by 16c

Chesapeake Energy Corp. (NYSE: CHK) reported Q2 EPS of $0.36, $0.16 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $5.15 billion versus the consensus estimate of $4.67 billion.

Doug Lawler, Chesapeake’s Chief Executive Officer, commented, "Chesapeake delivered solid organic production growth in the quarter while continuing to demonstrate capital discipline and efficiency. As a result, we are increasing our 2014 production outlook while leaving our capital budget unchanged. In the 2014 second half, we plan to connect approximately 35% more wells to sales than we connected in the first half of the year. As our pace of well connections accelerates, we expect our production growth trajectory will increase accordingly and we anticipate our year-end 2014 exit rate will exceed 730,000 boe per day."

For earnings history and earnings-related data on Chesapeake Energy Corp. (CHK) click here.

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