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BRIEF-Chesapeake Energy reports Q4 adjusted earnings $0.07/share
February 23, 2017 / 12:52 PM / 10 months ago

BRIEF-Chesapeake Energy reports Q4 adjusted earnings $0.07/share

Feb 23 (Reuters) - Chesapeake Energy Corp

* Chesapeake energy corporation reports 2016 full year and fourth quarter financial and operational results

* Q4 revenue fell 24 percent

* Q4 adjusted earnings per share $0.07 excluding items

* Q4 loss per share $0.84

* Q4 earnings per share view $0.07 -- Thomson Reuters I/B/E/S

* Says average daily production for 2016 Q4 of approximately 574,500 barrels of oil equivalent

* Q4 total revenues $2,021 million versus $2,649 million

* Says as of Dec 31, 2016, Chesapeake’s debt principal balance was approximately $10.0 billion, compared to $9.7 billion as of December 31, 2015

* Sees FY total capital expenditures $1,900 million - $2,500 million

* Sees FY NGL absolute production 18 - 20 mmbbls

* Sees FY oil absolute production 33 mmbbls - 35 mmbbls

* Sees FY liquids absolute production 51 mmbbls - 55 mmbbls

* Chesapeake expects to end February with approximately $300 million in cash on hand

* Says average daily production for 2016 Q4 consisted of approximately 90,400 bbls of oil, 2.562 bcf of natural gas and 57,100 bbls of NGL

* Says “planning to sell additional non-core and non-operated properties in 2017”

* Says Chesapeake’s average daily production for 2016 Q4 was approximately 574,500 boe

* Says for 2017 Q1, company expects its average daily production to range between 515,000 and 535,000 boe

* Says Chesapeake is currently utilizing 17 drilling rigs across its operating areas

* Says plans to utilize an average of 17 rigs throughout year

* Intends to spud and place in production approximately 400 and 450 gross operated wells, respectively, in 2017 Source text for Eikon: Further company coverage:

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