February 26, 2020 / 12:17 PM / in a month

Chesapeake reports quarterly loss on lower natural gas prices

Feb 26 (Reuters) - Chesapeake Energy Corp reported a fourth-quarter loss compared to a profit a year earlier as higher production failed to offset the impact of lower natural gas prices.

The Oklahoma-based oil and gas company reported a net loss available to shareholders of $346 million or 18 cents per share in the fourth quarter ended Dec. 31, after a profit $576 million, or 57 cents, a year earlier.

On an adjusted basis it incurred a loss of 4 cents per share.

Chesapeake’s production rose to 477,000 barrels of oil equivalent per day (boepd) from 464,000 boepd. (Reporting by Arunima Kumar in Bengaluru Editing by Tomasz Janowski)

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