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Chesapeake Energy 1Q16: Loves Marcellus, Loves Utica More | Marcellus Drilling News
Chesapeake Energy released its first quarter 2016 update yesterday. From the update we learn that the company lost $964 million in 1Q16--but most of it was a paper loss, their assets being written down in value given the low price of oil and gas. Chessy spent $365 million in 1Q16 vs. $1.5 billion in 1Q15.