Connect with us

Technology

How Chesapeake Energy Corp (NYSE:CHK) Fared In Q3 2017?

Published

on

Chesapeake Energy Corp (NYSE:CHK) issued operational and financial report for the 2017 third quarter. Average production came at 541,600 boe per day while average oil production stood at 86,000 barrels per day in Q3 2017. Total production reached around 584,000 boe per day on October 30, 2017. The company is on track to meet target of averaging 100,000 barrels of oil/day in Q4 2017. Upper Marcellus Shale improved completions yield rates surpassing expectations.

The management speaks

Doug Lawler, the CEO of Chesapeake, expressed that they continue to enhance their cost structure and capital efficiency as they move toward free cash flow neutrality. They have noted increased productivity across their diverse portfolio through the tenacity of their employees and technical innovation and, accordingly, they are expanding their core spot in every operated play.

Total production was 584,000 boe per day as noted on October 30, 2017, and the company expects to average 100,000 barrels of oil/day in Q4 2017. As further evidence of their progress, they are delighted to report the outcome of two new wells with improved completions in the Upper Marcellus region that are producing at pace of around 30 million cubic feet of gas/day, surpassing projections and competitive with their top class Lower Marcellus position.

Lawler continued that as they look toward 2018, their priorities stay unchanged as they focus on further enhancing their balance sheet, increasing their margins and moving toward cash flow neutrality. While they have not reported details pertaining their 2018 capital program, they will follow a disciplined approach that offers the flexibility required to respond to variations in commodity prices.

Currently, they project spending less capital next year as compared to 2017 and, given their industry-leading capital efficiency and asset quality, they project to achieve flat to modest production increase on a lower capital expenditure. Chesapeake team look forward to announcing more on overall progress in the imminent months.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

BRANDS

DETAILS

SCORE

PRODUCT SITES

  • Certified Organic
  • Made In U.S.A
  • Purity Promise
  • Price From $49

9.8

30% OFF Today! “30 0FF”

  • All Natural
  • Made In U.S.A
  • Lab Tested
  • Price From $69

9.7

  • All Natural
  • Made In U.S.A
  • Dissolvable Oral
  • Price From $99

9.6

  • All Natural
  • Made In U.S.A
  • Oral Mist
  • Price From $39

9.5

BRAND
DETAILS
  • All Organic
  • Made In U.S.A
  • Purity Promise
  • Price From $49
SCORE

9.8

PRODUCT SITE
BRAND
DETAILS
  • All Organic
  • Made In U.S.A
  • Lab Tested
  • Price From $69
SCORE

9.7

PRODUCT SITE VIEW PRODUCTS
BRAND
DETAILS
  • All Organic
  • Made In U.S.A
  • Dissolvable Oral
  • Price From $99
SCORE

9.6

PRODUCT SITE VIEW PRODUCTS
BRAND
DETAILS
  • All Organic
  • Made In U.S.A
  • Oral Mist
  • Price From $39
SCORE

9.5

PRODUCT SITE VIEW PRODUCTS
Advertisement

Symbol        Alert        High        Gain

 

  VBIO          $0.67       $4.10      500%

  IMLFF        $0.11       $0.57      400%

  CMXC        $0.25       $0.45      80%

  REPCF       $0.54       $0.79      48%

 

Get Your Latest Winner Delivered to Your Inbox!

FREE

For The Next 48 Hours

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement