This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Chesapeake Energy Corporation Reports Financial And Operational Results For The 2012 Third Quarter

For the 2012 third quarter, the company’s year-over-year growth rate of natural gas production was 19%, or approximately 523 million cubic feet (mmcf) per day, and its year-over-year growth rate of liquids production was 51%, or approximately 48,450 bbls per day. Chesapeake’s year-over-year liquids production growth consisted of oil production growth of 96%, or approximately 47,900 bbls per day, and NGL production growth of 1%, or approximately 550 bbls per day. NGL production for the 2012 third quarter was reduced by approximately 467,000 bbls, or 5,075 bbls per day, due to the company’s election in certain basins to reject rather than process ethane, which was additive to natural gas production.

As a result of redirecting its drilling program from dry gas plays to liquids-rich plays, Chesapeake is projecting its natural gas production to decline approximately 7% in 2013 and is projecting its liquids production to increase approximately 29% in 2013. Management and the board of directors continue to review operational plans for 2013 and beyond, which could result in changes to the company’s drilling activity and projected production levels in 2013.

Average Realized Prices and Hedging Results and Positions Detailed

Average prices realized during the 2012 third quarter (including realized gains or losses from natural gas, oil and NGL derivatives and excluding unrealized gains or losses on such derivatives) were $1.97 per thousand cubic feet (mcf) of natural gas, $90.79 per bbl of oil and $31.22 per bbl of NGL, for a realized natural gas equivalent price of $4.04 per thousand cubic feet of natural gas equivalent (mcfe). Realized gains from natural gas, oil and NGL hedging activities during the 2012 third quarter generated a $0.17 gain per mcf of natural gas, a $2.72 gain per bbl of oil and a negligible loss per bbl of NGL for a 2012 third quarter realized hedging gain of $77 million, or $0.20 per mcfe.

4 of 15

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs