Chesapeake Energy says it shares Kimmeridge's view that stock is undervalued
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May 5 (Reuters) - Shale gas producer Chesapeake Energy on Thursday said it shared activist investor Kimmeridge's view that its stock was undervalued, and that it was optimistic that its share buyback program would help buoy its stock price.
Chesapeake said it would likely exhaust its current $1 billion share buyback program early and seek board approval for additional repurchases. The company said it talked about its Eagle Ford assets with Kimmeridge, which disclosed on Wednesday to Reuters that it was building a stake in the producer and was in discussion with management about changes.
(Reporting by Liz Hampton in Denver)
