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Chesapeake Energy posts smaller quarterly loss
February 23, 2017 / 12:12 PM / 7 months ago

Chesapeake Energy posts smaller quarterly loss

Feb 23 (Reuters) - U.S. natural gas producer Chesapeake Energy Corp posted a smaller fourth-quarter loss than a year earlier, when it took huge charges to write down the value of some oil and gas assets.

The company’s net loss available to shareholders narrowed to $741 million, or 84 cents per share, in the three months to Dec. 31, from $2.23 billion, or $3.36 per share, a year earlier.

The year-ago quarter included charges of about $2.83 billion, mainly for asset impairment.

Chesapeake’s total revenue fell nearly 24 percent to $2.02 billion in the latest quarter. (Reporting by Arathy S Nair in Bengaluru; Editing by Savio D‘Souza)

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