Chesapeake Energy beats by $0.01, misses on revs
- Reports Q3 (Sep) earnings of $0.12 per share, $0.01 better than the Capital IQ Consensus of $0.11; revenues fell 16.8% year/year to $979 mln vs the $1.05 bln Capital IQ Consensus.
- Average 2017 third quarter production of 541,600 boe per day and average 2017 third quarter oil production of 86,000 barrels per day, as previously announced Total production reached approximately 584,000 boe per day, including 99,000 barrels of oil, on October 30, 2017.
- Chesapeake is currently utilizing 14 drilling rigs (below the 2017 third quarter average of 17) across its operating areas, five of which are located in the Eagle Ford Shale, three in the Powder River Basin (PRB), three in the Haynesville Shale, two in Northeast Appalachia and one in the Mid-Continent area. Chesapeake plans to average 14 rigs in the 2017 fourth quarter.
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