This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Chesapeake Energy Corporation Reports Financial And Operational Results For The 2012 Fourth Quarter And Full Year

2012 Fourth Quarter Average Daily Liquids Production Increases 39% Year over Year and 3% Sequentially to 147,500 Bbls; 2012 Fourth Quarter Average Daily Oil Production Increases 69% Year over Year and Was Flat Sequentially at 97,100 Bbls, Primarily as a Result of Asset Sales

Chesapeake’s daily production for the 2012 fourth quarter averaged 3.931 bcfe, an increase of 9% from the average 3.596 bcfe produced per day in the 2011 fourth quarter and a decrease of 5% from the average 4.142 bcfe produced per day in the 2012 third quarter. The decrease was primarily the result of selling approximately 0.220 bcfe per day of production associated with the company’s Permian Basin producing assets in September and October of 2012. Chesapeake’s average daily production of 3.931 bcfe for the 2012 fourth quarter consisted of approximately 3.046 billion cubic feet (bcf) of natural gas (77% on a natural gas equivalent basis) and approximately 147,500 barrels (bbls) of liquids, consisting of approximately 97,100 bbls of oil (15% on a natural gas equivalent basis) and approximately 50,400 bbls of NGL (8% on a natural gas equivalent basis) (oil and NGL collectively referred to as “liquids”).

For the 2012 fourth quarter, the company’s year-over-year growth rate of natural gas production was 3%, or approximately 87 million cubic feet (mmcf) per day, and its year-over-year growth rate of liquids production was 39%, or approximately 41,300 bbls per day. Chesapeake’s year-over-year liquids production growth consisted of oil production growth of 69%, or approximately 39,600 bbls per day, and NGL production growth of 4%, or approximately 1,700 bbls per day.

Chesapeake’s daily production for the 2012 full year averaged 3.886 bcfe, a 19% increase from the average 3.272 bcfe produced per day for the 2011 full year. The company’s average daily production of 3.886 bcfe for the 2012 full year consisted of approximately 3.084 bcf of natural gas (80% on a natural gas equivalent basis) and approximately 133,550 bbls of liquids, consisting of approximately 85,420 bbls of oil (13% on a natural gas equivalent basis) and approximately 48,130 bbls of NGL (7% on a natural gas equivalent basis).

3 of 13

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs