Chesapeake reports net loss of $40M in second quarter
Tuesday, August 7, 2018
Chesapeake Energy recently reported a net loss of $40 million in the second quarter, compared to a year-ago profit of $470 million, according to Kallanish Energy.
The company reported second-quarter production of roughly 530,000 barrels oil-equivalent per day (Boe/d), up 8 percent from a year ago, adjusted for asset sales.
Oil production in the second quarter was 90,000 barrels per day, up 11 percent, again adjusted for asset sales.
The company received an average second-quarter price of $57.16 per barrel of oil and $2.64 per thousand cubic feet of natural gas. It also got $24.97/Bbl of natural gas liquids.
Revenue slipped from $2.28 billion in the second quarter last year, to $2.26 billion in the same period this year, despite higher commodity prices.
Learn more: Kallanish Energy > Chesapeake reports Q2 net loss of $40M
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