May 4Chesapeake Energy Corp posted a
quarterly profit, compared with a year-ago loss, when the U.S.
natural gas producer took charges to write down the value of
some oil and gas assets.
The company reported a net profit available to shareholders
of $75 million, or 8 cents per share, in the first quarter ended
March 31, compared with a loss of $1.11 billion, or $1.66 per
share, a year earlier.
The year-ago quarter included an impairment charge of nearly
Chesapeake's total production fell 21.3 percent to 48
million barrels of oil equivalent.
Total revenue rose 41 percent to $2.75 billion in the
(Reporting by Arathy S Nair in Bengaluru; Editing by Shounak