Chesapeake Energy Corporation Stock Price, News & Analysis

Chesapeake Energy Corporation (NASDAQ:CHK) will release its 2023 first quarter operational and financial results on May 2, 2023, after market close. A conference call to discuss these results is scheduled for May 3, 2023, at 9:00 am EST. Investors can access the call by dialing 1-888-317-6003 (International: 1-412-317-6061) with passcode 5806932. A webcast of the call will be available on Chesapeake's website, along with a replay post-call. Chesapeake is focused on developing positions in U.S. oil and gas plays while committing to net zero GHG emissions (Scope 1 and 2) by 2035, indicating a dedicated effort toward sustainable energy production.

Chesapeake Energy Corporation (NASDAQ: CHK) and Gunvor Group Ltd announced a Heads of Agreement (HOA) for Chesapeake to supply up to 2 million tonnes of LNG annually to Gunvor, indexed to the Japan Korea Marker (JKM) over 15 years. The two companies will select an optimal liquefaction facility in the U.S. to process the gas, with a targeted start date in 2027. Chesapeake's CEO, Nick Dell'Osso, emphasized the significance of the deal for their LNG readiness and commitment to delivering lower carbon energy. Gunvor aims to enhance its LNG portfolio through this partnership, leveraging its trading capabilities and fleet.

Chesapeake Energy Corporation (NASDAQ:CHK) has announced the sale of a portion of its Eagle Ford assets to INEOS Energy for $1.4 billion. This transaction encompasses approximately 172,000 net acres and around 2,300 wells, with an average net daily production of 36,000 barrels of oil equivalent in Q4 2022. Chesapeake aims to refocus capital on its Marcellus and Haynesville positions, having secured $2.825 billion to date from its Eagle Ford divestiture. The deal is expected to close in Q2 2023, with $1.175 billion received at closing, and further installments totaling $225 million thereafter, to support debt repayment and share buybacks.

Chesapeake Energy Corporation (NASDAQ:CHK) reported its Q4 and full-year 2022 results, highlighting a net income of $3.513 billion for Q4, equal to $24.00 per share, and a record $2.1 billion in adjusted free cash flow for the year. The company returned $2.3 billion to shareholders via dividends and buybacks in 2022, with a quarterly dividend of $1.29 scheduled for March 2023. The 2023 outlook projects capital expenditures of $1.765 - $1.835 billion with a modest decline in production. Chesapeake aims to sustain low GHG intensity by lowering interim targets and securing Responsibly Sourced Gas certification for 100% of production.

Chesapeake Energy Corporation (NASDAQ:CHK) will release its 2022 fourth quarter and full year operational and financial results after market close on February 21, 2023. A conference call to discuss these results is scheduled for February 22, 2023, at 9:00 am EST. Investors can access the call at 1-888-317-6003 or 1-412-317-6061 with passcode 5334078. A live webcast will also be available on Chesapeake's website. This release is part of the company's commitment to transparency and aligns with their goal of achieving net zero GHG emissions by 2035.

On January 18, 2023, Chesapeake Energy Corporation (NASDAQ:CHK) announced the sale of its Brazos Valley region in the Eagle Ford asset to WildFire Energy I LLC for $1.425 billion. This transaction involves approximately 377,000 net acres and 1,350 wells, with average net daily production of 27,700 barrels of oil equivalent during Q3 2022. The deal is expected to close in Q1 2023, with Chesapeake receiving $1.2 billion at closing, followed by $225 million in future installments. Proceeds will be used to repay debts and fund share repurchases.

Chesapeake Energy Corporation (NASDAQ:CHK) announced the closing of a new senior secured reserve-based revolving credit facility, replacing its previous credit arrangement. The new facility features a five-year maturity until December 9, 2027, an initial borrowing base of $3.5 billion, and aggregate commitments of $2 billion. The credit facility includes favorable terms such as a better interest rate grid and relaxed financial covenants. Furthermore, terms may change upon receiving investment grade ratings from S&P, Moody's, or Fitch, enhancing financial flexibility and operational efficiency.

Chesapeake Energy Corporation (NASDAQ:CHK) announced robust Q3 2022 results, reporting $1,313 million in net cash from operating activities and a net income of $883 million or $6.12 per diluted share. The company achieved an adjusted free cash flow of $773 million, returning $1.9 billion to shareholders through dividends and buybacks year-to-date. Chesapeake is implementing strategic infrastructure agreements to enhance its natural gas delivery systems and aims for net-zero emissions by 2035. A quarterly dividend of $3.16 per share is set for December 2022.