U.S. Markets closed

UPDATE 1-Chesapeake Energy posts bigger-than-expected loss on lower output, price

(Adds second-quarter details, analysts' estimates)

Aug 6 (Reuters) - Chesapeake Energy Corp posted a bigger-than-expected quarterly loss on Tuesday, hurt by lower production and natural gas prices, as well as higher production costs.

Average realized price for its natural gas fell 6.1% in the second quarter, while production cost per barrel of oil equivalent (boe) jumped 28.7%.

Natural gas makes for a majority of Chesapeake's production. But the company has been shifting its focus to oil production as natural gas prices have been pressured due to a lack of takeaway capacity, which has not kept up with the surge in output.

Adjusted net loss attributable to Chesapeake widened to $158 million in the quarter ended June 30 from $118 million a year earlier.

On a per share basis, it reported a loss of 10 cents, while analysts had anticipated a loss of 6 cents, according to IBES data from Refinitiv.

Production fell to 496,000 barrels of oil equivalent per day (boepd) from 530,000 boepd.

Revenue rose 4.2% to $2.39 billion. (Reporting by Taru Jain in Bangalore; Editing by Maju Samuel)