The 3 Most Important Numbers From Chesapeake Energy Corporation's 2Q Report
Image source: Getty Images.
Continue Reading Below
Beleaguered natural-gas driller Chesapeake Energy (NYSE: CHK) recently reported somewhat disappointing second-quarter results. Investors were not pleased that the company missed expectations after its adjusted net loss of $145 million, or $0.14 per share, was $0.03 per-share wider than the consensus estimate and marked the sixth straight quarterly loss for the company. That said, while the report was not great, the company did make progress, especially in three key metrics.
1. Production guidance increased by 3%
While Chesapeake Energy's financials are under intense pressure right now, its operations are outperforming expectations. Thanks in part to the company's optimized well-completion techniques, production across its portfolio was solid during the quarter, averaging 657,100 barrels of oil equivalent per day. In addition to that, the company continues to capture capital efficiencies and lower oil-field service costs, which puts it in the position to drill more wells with roughly the same amount of money. The net result is that itexpects full-year production to be 3% higher than its initial guidance.
<3>More From Fool.com
Continue Reading Below
Advertisement Warren Buffett Tells You How to Turn $40 Into $10 Million
LeBron James: The Next Warren Buffett?
Social Security: 3 Things to Know Before Taking Benefits Early
3 Social Security Secrets You Probably Don't Know
2. $518 million of 2017 debt paid off
3. Divestiture target raised to $2 billion
Investor takeaway
A secret billion-dollar stock opportunity
The world's biggest tech company forgot to show you something, but a few Wall Street analysts and the Fool didn't miss a beat: There's a small company that's powering their brand-new gadgets and the coming revolution in technology. And we think its stock price has nearly unlimited room to run for early in-the-know investors! To be one of them, just click here
Matt DiLallofree for 30 daysconsidering a diverse range of insightsdisclosure policy