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Chesapeake Energy Earnings Call, Second Quarter 2008
Author: Albena Toncheva
123jump.com
Last Update: 4:38 AM ET August 26 2008

Excluding one-time items, Chesapeake earned $479 million, or 89 cents a share in the quarter, up 40% from a year ago. Second-quarter revenue from gas sales increased to $2.23 billion from $1.2 billion last year. As of July 31, Chesapeake has hedged 82% of the third-quarter gas production at $8.90 per thousand cubic feet. The company’s proven reserves are estimated to be the equivalent of 12.2 trillion cubic feet of gas, with 1.3 trillion added in the first half of fiscal 2008.

 

 

 
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