| Chesapeake Loss Narrower than Expected in Q3, Sales Lag | |
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Chesapeake Energy Corp. CHK reported adjusted third-quarter 2015 loss per share from continuing operations (excluding special items) of 5 cents, narrower than the Zacks Consensus Estimate of loss of 13 cents. The reported figure showed massive deterioration from the year-earlier profit of 38 cents a share. Quarterly sales decreased to $880.0 million from $2,341.0 million a year ago. The top line also missed the Zacks Consensus Estimate of $900.0 million.
Operational Performance
Chesapeake’s daily production for the reported quarter averaged approximately 66.7 million barrels of oil equivalent (MMBoe), reflecting a year-over-year increase of 3%. Average daily production consisted of approximately 114,100 barrels (bbls) of oil, 2.9 billion cubic feet (bcf) of natural gas and 76,200 bbls of NGL, representing year-over-year increases of 4%, 2% and 7%, respectively.
Oil equivalent realized price in the reported quarter was $15.45 per Boe. Average realizations for natural gas were $1.14 per Mcf and oil was sold at $62.68 per barrel.
Total reported capital expenditures of $623 million, including capitalized interest of $99 million, decreased 35% and 59% compared to second-quarter 2015 and third-quarter 2014, respectively.
On the cost front, quarterly production expenses were $4.09 per Boe, while general & administrative expenses were $0.79 per Boe.
Financials
At the end of the quarter, Chesapeake had a cash balance of $1,759 million. The debt balance was $10,674 million, representing a debt-to-capitalization ratio of 68.0%.
Zacks Rank
Chesapeake currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are Natural Gas Services Group Inc. NGS, Seadrill Partners LLC SDLP and Paragon Offshore plc PGN. Each of these stocks sports a Zacks Rank #1 (Strong Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CHESAPEAKE ENGY (CHK): Free Stock Analysis Report PARAGON OFFSHOR (PGN): Free Stock Analysis Report SEADRILL PTNRS (SDLP): Free Stock Analysis Report NATURAL GAS SVC (NGS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Chesapeake Energy Corporation
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DEVELOPMENT STAGE |
CODE : CHK |
ISIN : US1651671075 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Chesapeake Energy is a producing company based in United states of america. Chesapeake Energy develops natural gas and oil in USA. Its main asset in development is DEEP BOSSIER in USA. Chesapeake Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 74.1 billions as of today (€ 66.5 billions). Its stock quote reached its lowest recent point on March 13, 2020 at US$ 0.12, and its highest recent level on November 18, 2022 at US$ 99.94. Chesapeake Energy has 909 242 558 shares outstanding. |