Chesapeake Energy Believes It Can Stay Afloat in 2020
Chesapeake Energy (NYSE: CHK) believes it has a plan to get through what continues to be a very challenging period. The energy company unveiled that strategy along with its fourth-quarter results, which came in a bit better than expected.
Here's a look at those numbers, as well as what the financially strapped oil and gas producer plans to do to manage through its currently tough situation.
Chesapeake Energy produced an average of 126,000 barrels of oil per day (BPD) during the fourth quarter, which was up nearly 45% year over year. That surge in crude-oil output pushed it to 26% of its total production mix, the highest in its history. Total production, meanwhile, rose about 3% during the quarter as surging oil output more than offset declining natural gas and natural gas liquids (NGL) production.
Source Fool.com
