Chesapeake Energy Boosts 3Q Production By 7%
30 October 2009 - 8:03AM
Dow Jones News
Natural gas producer Chesapeake Energy Corp. (CHK) boosted its
third-quarter output by 7% from the same period a year ago, despite
the effects of curtailments and company transactions that had an
impact on production.
The Oklahoma City-based energy company's daily production
averaged 2.483 billion cubic feet of natural gas equivalent, an
increase of 1% from the second quarter and 162 million cubic feet
of natural gas equivalent higher than the 2008 third quarter.
Chesapeake anticipates production growth of 5% to 6% in 2009.
Production is forecast to increase by 8% to 10% in 2010 and 12% to
14% in 2011, according to a company news release.
Shares of Chesapeake closed up 5.1% at $26.04 and were unchanged
in after-market trading
-By Jason Womack, Dow Jones Newswires; 713-547-9201;
jason.womack@dowjones.com