The most important points from Chesapeake's 1Q14 earnings (Part 1 of 5)
Chesapeake Energy (CHK) is one of the largest independent energy exploration and production companies in the U.S. Chesapeake operates in many areas, including the Marcellus, Utica, Niobrara, Mississippian Lime, Eagle Ford, Barnett, and Haynesville shales. As of May 7, 2014, CHK had a market cap of $20 billion and enterprise value of $37 billion. LTM (last twelve months ended) March 31, 2014, revenue totaled $18.9 billion and LTM March 31, 2014, EBITDA totaled $5.4 billion.
While Chesapeake has been working on growing its liquids (oil and natural gas liquids) production, the company’s production is still predominately natural gas–weighted. In 1Q14, CHK’s production was 16% oil, 13% natural gas liquids, and 71% natural gas for 1Q14. CHK produced 60.8 million barrels of oil equivalent in 1Q14.
Chesapeake Energy (CHK) is a component of various energy ETFs, such as the Energy Select Sector SPDR (XLE), the Vanguard Energy ETF (VDE), the iShares US Energy ETF (IYE), and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).
The company recently reported strong 1Q14 earnings and other news, which included raising guidance for production and free cash flow. To read more about this news, please continue to the following parts of this series.
Browse this series on Market Realist:
- Part 2 - Why the market liked Chesapeake’s 1Q14 earnings
- Part 3 - Chesapeake is growing its cash flow while restraining its capex
- Part 4 - Must-know takeaways from Chesapeake’s area-by-area update
- Oil, Gas, & Consumable Fuels
- Investment & Company Information
- Chesapeake Energy