Chesapeake Energy Earnings Call, Fourth Quarter 2008
25th February 2009 00:00 AM |
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| The substantial competitive advantages have well prepared the company to withstand the rough financial markets and low near-term gas prices. |
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| The natural gas producer reported full year net income of $623 million ($1.14 per share), operating cash flow of $5.178 billion and EBITDA of $3.647 billion on revenue of $11.629 billion and production of 843 billion cubit of natural gas equivalent (bcfe). This compares with 2007 levels of $1.229 billion ($2.62) in net income, revenues of $7.8 billion and production of 714 bcfe. The average prices in 2008 were $7.13 per thousand cubic feet (mcf) versus $8.11 per mcf in 2007. |
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Chesapeake Energy Earnings Call, Second Quarter 2008
26th August 2008 00:00 AM |
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| Chesapeake posted a quarterly loss of $1.65 billion, or $3.17 a share versus net income of $492 million, or $1.01 a share, a year ago. |
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| 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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Chesapeake Energy Fourth Quarter Earnings Call
23rd February 2008 00:00 AM |
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| Income of $158 million or 33 cents a share was down 65% from $446 million or $2.93 a share in 2006 due to higher operating costs. |
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| The natural gas producer reported an 11% increase in revenues to $2.1 billion, from $1.9 billion in the prior year on production of 204 billion cubic feet of natural gas equivalent (bcfe). The firm made progress in implementing the various elements of the enhanced financial plan that should enable it to deliver superior growth and financial returns without accessing the public capital markets for the foreseeable future and has assured customers of long term supply of natural gas. |
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Chesapeake Energy Third Quarter Earnings Call
19th November 2007 00:00 AM |
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| Drop in the average natural gas price led to earnings of $346.3 million, down from $522.6 million in prior year. |
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| The oil and natural gas exploration and production company reported revenue of $2.03 billion, up 5.1% from $1.93 billion in the prior year quarter. The quarterly results include an unrealized after-tax mark-to-market gain of $16 million, resulting from the company’s oil and natural gas and interest rate hedging programs. During the quarter, the average daily production of oil and natural gas increased 27% over 2006 Q3, reflecting the 25th consecutive quarter of growth. |
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Chesapeake Energy Second Quarter Earnings Call
23rd August 2007 00:00 AM |
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| Profit rose 48 to $518.1 million, drive by an increase in natural gas production. |
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| Chesapeake’s revenue increased 33% to $2.10 billion, exceeding analysts’ expectations of $1.63 billion. Profit included an unrealized gain of $98.5 million from marking oil, natural gas and interest rate hedges to market and a $51.3 million gain from selling its investment in Eagle Energy Partners I, L.P. Production averaged 1.868 billion cubic feet of natural gas equivalent a day, up 19% from the year earlier period. Total production is expected to rise between 18% and 22% in 2007. |
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Chesapeake Energy First Quarter Earnings Call
25th June 2007 00:00 AM |
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| Profit fell to $232 million driven by natural gas and oil sales decrease of 26% and increase of costs. |
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| Chesapeake reported revenue decrease of 19% to $1.58 billion, in line with analysts’ expectations. The results included an unrealized mark-to-market loss of $193 million from the company''s oil, gas and interest rate hedging program. Excluding the hedging loss, income from ongoing operations was $425 million, or 87 cents a share. Large capital spending projects Chesapeake plans include the development of 18,000 net acres in the Barnett Shale near Fort Worth, Texas. |
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