Chesapeake Energy reports higher profit on soaring crude prices
Reuters
Published Feb 23, 2022 04:28PM ET
(Reuters) - Shale oil and gas producer Chesapeake Energy Corp (NYSE:CHK) said on Wednesday its quarterly adjusted profit rose 14.5% in the fourth quarter from the third, helped by a surge in energy prices on record demand and supply concerns.
Chesapeake, which emerged from bankruptcy at the start of 2021, said its adjusted profit increased to $308 million, or $2.39 per share, in the quarter ended Dec. 31, from $269 million, or $2.38 per share, in the third quarter.
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Written By: Reuters
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