UPDATE: Chesapeake Energy (CHK) Reports In-Line Q2 Loss of 11c/Share

Chesapeake Energy (NYSE: CHK) reported Q2 EPS of ($0.11), in-line with the analyst estimate of ($0.11). Revenue came in at $3.03 billion, versus expectations of $2.76 billion.

Net loss was $4.09 billion, from net income of $230 million in the same period last year. Adjusted ebitda was $600 million in the 2015 second quarter, compared to $1.277 billion in the 2014 second quarter. Operating cash flow was $606 million in the 2015 second quarter, compared to $1.269 billion in the 2014 second quarter. The year-over-year decreases in adjusted ebitda and operating cash flow were primarily the result of lower realized oil, natural gas and natural gas liquid (NGL) prices, partially offset by increases in realized hedging gains and lower production and general and administrative (G&A) costs.

2015 Second Quarter Average Daily Production of 703,000 Boe Increased 13% Year Over Year and 2% Sequentially, Adjusted for Asset Sales

Chesapeake’s daily production for the 2015 second quarter averaged approximately 703,000 barrels of oil equivalent (boe), a year-over-year increase of 13%, adjusted for asset sales. Average daily production in the 2015 second quarter consisted of approximately 119,500 barrels (bbls) of oil, 3.0 billion cubic feet (bcf) of natural gas and 79,200 bbls of NGL, which represent year-over-year increases of 11%, 11% and 24%, respectively, adjusted for asset sales.

The Company's presentation is embedded below:

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