Chesapeake Energy (CHK) Posts Surprise Q3 Profit

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Chesapeake Energy Corporation Reports 2016 Third Quarter Financial And Operational Results

November 3, 2016 7:00 AM EDT

OKLAHOMA CITY, Nov. 3, 2016 /PRNewswire/ -- Chesapeake Energy Corporation (NYSE: CHK) today reported financial and operational results for the 2016 third quarter plus other recent developments. Highlights include:

Enhanced operating and capital efficiencies drive 2016 third quarter average production of 638,100 boe per day Oil production of 86,600 barrels per day lower sequentially after divestiture impacts of 8,200 barrels per day in the 2016 third quarter; 2016 fourth quarter oil production projected to be 90,000 to 95,000 barrels per day Decrease in production expenses of $0.25 per boe sequentially, resulting in lower full-year 2016 and 2017... More