Chesapeake Energy reported a $227M Q2 loss due to low natural gas prices and reduced production.
Chesapeake Energy Corp reported a $227M Q2 loss, down from a profit in the same period last year, due to low natural gas prices, which fell 22% this year. The lower demand, influenced by a warmer-than-expected winter and storage build-up, led Chesapeake, along with rivals like EQT and Coterra Energy, to reduce production. Q2 production fell to 2,745M cf/d from 3,653M cf/d in the previous year.
July 29, 2024
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