ADVFN - Advanced Financial Network.
HOME» NYSE » C » CHK Stock Price » CHK Stock News

Chesapeake Share News

 Chesapeake Energy Corp. Stock Price
CHK Stock Price
 Chesapeake Energy Corp. Stock Chart
CHK Stock Chart
 Chesapeake Energy Corp. Stock News
CHK Stock News
 Chesapeake Energy Corp. Company Information
CHK Company Information
 Chesapeake Energy Corp. Stock Trades
CHK Stock Trades

BHP Billiton's Petrohawk Swings to Loss as Prices Fall

By Robb M. Stewart MELBOURNE--BHP Billiton Ltd.'s (BHP) recently acquired U.S. shale operation Petrohawk Energy Corp. has swung sharply to a loss in the first six months of the year, further pain for the resources giant after it last week said it would write down the value of another shale purchase by US$2.84 billion to reflect a slump in U.S. natural gas prices. Petrohawk in a statement released Thursday by BHP reported a first-half net loss of US$101.8 million in the period ended June 30, from a year-earlier profit of US$42.9 million, despite a jump in oil and gas revenue to US$965.3 million from US$793.9 million. BHP bought Petrohawk a year ago for US$12.1 billion, its second foray into the booming U.S. shale industry after it earlier in the year paid US$4.75 billion for Chesapeake Energy Corp.'s (CHK) Fayetteville shale assets and a pipeline system in Arkansas. BHP said Friday it was taking the impairment charge against the Fayetteville assets, but didn't need to write down any of the Petrohawk assets due to the potential to pump liquids rather than dry gas in Texas and Louisiana. Petrohawk said production of oil and gas rose 37% on year to 59,950 million cubic feet of gas equivalent in the six months through June thanks to drilling successes, although this was partially offset by a US$0.58 fall in the average realized price to US$4.36 per 1,000 cubic feet equivalent. Petrohawk's earnings were also dented by a US$28.3 million loss on derivative contracts, compared with a profit a year earlier. BHP in a statement accompanying Petrohawk's results said the figures aren't any indication of the contribution the business made to BHP's own results since it was acquired. BHP's profit is expected to have fallen 22% to almost US$16.88 billion before one-time items in the year to June 30 as prices for iron ore and other commodities have fallen, according to the consensus of 25 analysts' forecasts. The company is due to report its results Aug. 22. Write to Robb M. Stewart at robb.stewart@wsj.com Order free Annual Report for BHP Billiton Plc Visit http://djnweurope.ar.wilink.com/?ticker=GB0000566504 or call +44 (0)208 391 6028 Order free Annual Report for BHP Billiton Plc Visit http://djnweurope.ar.wilink.com/?ticker=US05545E2090 or call +44 (0)208 391 6028 Order free Annual Report for Chesapeake Energy Corp. Visit http://djnweurope.ar.wilink.com/?ticker=US1651671075 or call +44 (0)208 391 6028 Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Chesapeake (CHK)
DateTimeHeadline
09/01/201513:49:00New Approach to Natural-Gas Could Keep Prices Low
08/24/201510:10:00Icahn Gets Board Seats From Cheniere
08/24/201509:59:00Icahn Gets Board Seats From Cheniere
08/21/201507:01:00Notice of Proposed Voluntary Dismissal of Derivative Action
08/11/201517:06:10Companies Pull Back on CEO 'Failure Parachutes'
08/06/201520:10:20Icahn Group Holds 8.18% of Cheniere
08/05/201510:00:19U.S. Hot Stocks: Hot Stocks to Watch
08/05/201509:30:07Chesapeake Energy Takes $4 Billion Write-Down Amid Weak Oil Prices
08/05/201509:14:32Chesapeake Energy Takes $4 Billion Write-Down Amid Weak Oil Prices
08/05/201507:01:00Chesapeake Energy Corporation Reports 2015 Second Quarter Financial...
07/28/201516:00:00Lonestar Announces Joint Development Agreement With IOG Capital
07/21/201510:20:08Chesapeake Energy to Drop Dividend
07/21/201510:05:56Chesapeake to Eliminate Dividend to Pay for Capital Spending
07/21/201507:01:00Chesapeake Energy Corporation Updates Financial Strategy
07/11/201510:30:03Why Chesapeake Energy, Clean Energy Fuels, and Legacy Reserves...
07/11/201507:11:033 Types of Risks Facing Natural Gas Stocks
07/10/201517:09:17Judge Orders Chesapeake to Pay $379.7 Million in Bond-Redemption...
06/12/201516:27:443 Stocks to Watch in Oil Rigs
06/05/201513:04:02How Energy Companies Are Raising Cash In A Pinch
06/02/201517:11:59The Competitive Advantage of the Best Natural Gas Stocks

Chesapeake Energy and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad