By Adam Wilmoth Energy Editor awilmoth@oklahoman.comChesapeake Energy Corp. on Wednesday reported a net loss of $4.65 billion, or $7.08 a share, led by a $4.6 billion accounting charge related to lower oil and natural gas prices. Excluding one-time expenses, Chesapeake recorded an adjusted net loss of $83 million, or 5 cents per share, down from an adjusted profit of $251 million, or 38 cents a share, one year ago. Adjusted earnings before interest, taxes, depreciation and amortization was $560 million, down from $1.2 billion in the year-ago quarter. "The many actions that we have taken this quarter, including executing new gas gathering agreements, amending our revolving credit facility, reducing complexity and commitments and lowering our business costs, have significantly increased Chesapeake's ability to create additional value," CEO Doug Lawler said in a statement.

Topics:  adam wilmoth energy editor   corp   excluding   chesapeake   adjusted   ceo doug lawler   newsok   billion   loss   quarter   share   million   net   gas   cents   

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News