Showing posts with label Aubrey McClendon. Show all posts
Showing posts with label Aubrey McClendon. Show all posts

Wednesday, May 2, 2012

Chesapeake Energy Earnings Report For 1st Quarter 2012

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Chesapeake Energy Corporation (NYSE:CHK) today announced financial and operational results for the 2012 first quarter. For the 2012 first quarter, Chesapeake reported a net loss to common stockholders of $71 million ($0.11 per fully diluted common share), ebitda of $597 million (defined as net income (loss) before income taxes, interest expense, and depreciation, depletion and amortization) and operating cash flow of $910 million (defined as cash flow from operating activities before changes in assets and liabilities) on revenue of $2.419 billion and production of 333 billion cubic feet of natural gas equivalent (bcfe).

The company’s 2012 first quarter results include various items that are typically not included in published estimates of the company’s financial results by certain securities analysts. Excluding such items for the 2012 first quarter, Chesapeake reported adjusted net income to common stockholders of $94 million ($0.18 per fully diluted common share) and adjusted ebitda of $838 million. The primary excluded item from the 2012 first quarter reported results is a net unrealized noncash after tax mark to market loss of $167 million resulting from the company’s natural gas, liquids and interest rate hedging programs. A reconciliation of operating cash flow, ebitda, adjusted ebitda and adjusted net income to comparable financial measures calculated in accordance with generally accepted accounting principles is presented on pages 18 – 20 of this release......Click here to read the entire earnings report

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Wednesday, December 30, 2009

Natural Gas Producers Seek Long Term Contracts


In a sign that low natural gas prices are probably here to stay, big U.S. energy companies are pushing to sign long term contracts with electric utilities and other customers. Major producers such as Chesapeake Energy Corp. and Devon Energy Corp. are trying to reach multiyear deals, likely five or 10 years long, that would guarantee them buyers for their gas but would deny them the benefits from any sudden price increases.

For a decade, energy companies have shunned such agreements because they wanted to profit when gas prices soared, as they often did, especially in advance of rising winter demand for gas heat. But huge new gas fields in Texas, Louisiana, Pennsylvania and elsewhere have led to a surge in U.S. natural gas production, glutting the market even as the recession has sapped demand for all forms of energy. Prices have plummeted to less than $6 per million British thermal units, less than half their price in July 2008.....Read the entire article.

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Thursday, January 8, 2009

Crude Oil Industry Headline News


"Oil Falls a Third Day on Concern the Recession Will Cut Demand"
Crude oil fell for a third day as the rising number of jobless workers in the U.S. intensified concern that the recession will cut fuel use in the world’s biggest energy-consuming country....Complete Story

"Schlumberger Eliminates 1,000 Jobs in North America"
Schlumberger Ltd., the world’s largest oilfield-services company, cut 1,000 jobs in North America yesterday to curb costs during a slump in oil and natural-gas exploration spending as economies slow....Complete Story

"Gazprom, Naftogaz Officials in Brussels"
The heads of Ukraine and Russia's energy companies arrived in Brussels to negotiate an end to a natural gas lock down that has left much of Europe cold....Complete Story

"Recovery of US Economy Crucial to Increase Crude Oil Demand"
The global financial crisis and slowing down of the US economy will have an impact on the Oil & Gas industry in Asia for the coming year. However, 2009 upstream investment and activity looks encouraging in both Malaysia and Singapore....Complete Story

"Chesapeake Energy Chief to Remain for 5 More Years"
Chesapeake's Chief Executive Aubrey McClendon agreed to remain at the helm of the natural gas producer for at least five years, under a new employment contract that provides him a $75 million bonus....Complete Story