The company reported adjusted ebitda of $1.424 billion, an increase of 77% year over year. Operating cash flow, which is cash flow provided by operating activities before changes in assets and liabilities, was $1.370 billion, an increase of 53% year over year. Additional definitions and reconciliations to comparable financial measures calculated in accordance with generally accepted accounting principles of adjusted net income available to common stockholders, operating cash flow, ebitda and adjusted ebitda are provided on pages 12 - 16 of this release.Doug Lawler, Chesapeake’s Chief Executive Officer, said, “Chesapeake reported a strong quarter operationally and financially. I am very excited and energized by what I have seen during my first six weeks with the company. Chesapeake has an exceptionally broad and deep asset base, which offers tremendous opportunity for value creation. A comprehensive companywide review of our capital allocation and other processes is underway and I believe these initiatives will result in substantial further improvement in both near-term and long-term capital efficiency and returns.”
Chesapeake Energy Corporation Reports Financial And Operational Results For The 2013 Second Quarter
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