Chesapeake Swings to Loss in Q2 ...Middle East

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Chesapeake Swings to Loss in Q2
source : OILPRICE ( Middle East ) () 27
Chesapeake Energy booked a net loss of $227 million for the second quarter of the year on persistently low natural gas prices and lower production. The result compared with a profit of $391 million for the second quarter of 2023. Like other gas producers, Chesapeake has suffered a blow from lower energy demand last winter, which pressured prices significantly. In response, the gas industry began curtailing production and deferring new wells, which also affected Chesapeake’s bottom line. “We continue to execute our business as we prudently…

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