Chesapeake Energy Expects Q3 15 pct Output Drop
Chesapeake Energy Corp said it expects a 15 percent drop in third-quarter production due to disruptions in weather, asset sales and changes in capital allocation.
The natural gas producer said it expects current-quarter production to be about 542,000 barrels of oil equivalent per day(boepd), lower than the 638,100 boepd a year earlier.
The company also said it now expects its adjusted production forecast for the full-year to range between a drop of 1 percent and an increase of 1 percent, compared with its previous view of flat to 4 percent growth.
Reporting by Yashaswini Swamynathan
