Chesapeake Energy (CHK) Tops Q4 EPS by 3c

Chesapeake Energy (NYSE: CHK) reported Q4 EPS of $0.21, $0.03 better than the analyst estimate of $0.18. Revenue for the quarter came in at $3.07 billion versus the consensus estimate of $2.29 billion.

2019 Outlook:

Transformational oil growth: Projected 2019 average daily oil production of approximately 116,000 to 122,000 bbls, an absolute increase of approximately 32 percent (or 50 percent adjusted for asset sales), driven by the acquisition of the WildHorse asset and organic growth from the PRB; oil mix projected to be approximately 26 percent by 2019 fourth quarter;
Capital expenditure program discipline: Projected 2019 capital expenditures range from $2.3 to $2.5 billion, effectively flat compared to $2.366 billion in 2018;
Lower costs lead to improved capital efficiency and enhanced competitiveness: Cash costs projected to decrease by approximately $200 million, driven by lower gathering, processing and transportation (GP&T) expenses partially offset by slightly higher production and general and administrative expenses as a result of production and working interest mix; EBITDA generated per boe projected to increase by approximately 12 to 15 percent, based on recent strip prices.

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

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