Chesapeake Energy Corp. (NYSE: CHK) on Feb. 23 posted a smaller fourth-quarter loss than a year earlier when it took huge charges to write down the value of some oil and gas assets.Results were hurt by lower volumes and prices and by losses on hedging during the quarter. It expects to reverse volume declines, adjusted for divestitures, in the second half of the year.At noon, shares in Chesapeake were down more than 7% at $5.49.In a note, Barclays analysts wrote the U.S. natural gas producer’s fourth quarter results were largely in line with expectations, but described Chesapeake’s 2017 production forecasts as “a bit more pessimistic” than rivals.
[Read More …]
Source: Daily Dose of ShaleDirectories.com News