Thursday, 22 February 2018 Higher production and buoyant oil prices put a sheen on fourth-quarter results from Chesapeake Energy Corporation (NYSE:CHK). The energy company reported net income of US$309mln, equivalent to 33 US cents a share, which represented a big turnaround from the same period a year before when it reported a net loss of US$740mln – a loss of 83 US cents a share. READ: Chesapeake Energy cuts third quarter production target due to weather and closed asset sales The consensus forecast was for earnings per share of 83 US cents. Revenue also topped expectations, clocking in at US$1.26bn, versus US$678mln the year before and market expectations of US$1.25bn. “We made significant progress toward our goals of reducing our debt, increasing cash flow generation and margin enhancement,” declared Doug Lawler, the chief executive officer of Chesapeake. “Fiscal year 2017 was a pivotal year for Chesapeake, as we restored our production and increased net cash provided by operations, increased our oil production, adjusted for asset sales, and significantly improved our cost structure by reducing our combined production, general and administrative and gathering, processing, and transportation expenses by approximately $510 million,” he continued. “We further demonstrated the depth of our portfolio by closing on approximately $1.3 billion in asset and property sales and signed additional asset sales for approximately $575 million that we expect to close by the end of the 2018 second quarter. We reduced our outstanding secured term debt by approximately $1.3 billion, or 32 percent, continued to remove legal obligations and recorded the best environmental and safety performance in our company's history,” he added. The stock was up 7.2% at US$2.82 in pre-market trading.
EDF Energy will shell out £350,000 after the supplier missed its smart meter installation target last year, the energy regulator said today.
Ofgem said... City A.M. - BusinessAlso reported by •Proactive Investors
Jun.14 -- Vermilion Energy CEO Anthony Marino says the concerns about the Canadian oil industry’s competitiveness helped his company secure a better price in its purchase of Spartan Energy Corp. this.. Bloomberg Global Business -
The media deal frenzy being led by Disney , Comcast and AT&T is only one part of why the M&A market is likely to stay hot into year end. "In the back half of the year, I think the M&A market will.. The Street -
In early trading on Monday, shares of Sempra Energy topped the list of the day's best performing components of the S&P 500 index, trading up 14.8%. Year to date, Sempra Energy registers a 8.9% gain. Market News Video -
HARBIN, CHINA — Xiao Cui is an 18-year-old high school student from Harbin, China, but you probably won't believe that, it's all due to his mysterious skin condition.
According to China's People's.. TomoNews US -
According to a report by Huffpost, the number of cities that vowed to convert to 100-percent renewable energy has doubled since last year, leading to increased hopes that the trend is gaining traction... Wochit News -
According to an industry survey of nearly 600 solar installers across the United States, 30 percent of home solar shoppers in 2017 were also interested in battery storage. Researchers like IHS Markit.. MultiVu -