Chesapeake 1Q: $764M Net Loss, $532M FCF, 13 Rigs Drilled 41 Wells

|
Yesterday Chesapeake Energy Corporation issued its first quarter 2022 update. At a high level, the company generated just over $3 billion in revenue during 1Q with $1.7 billion in operating expenses. However, the company lost $2.1 billion on derivatives and hedges (bad bets on the price of oil and gas), leading to a net loss of $764 million for the quarter. Chesapeake managed to generate $532 million in free cash flow during the quarter. Of the company's three main operational areas--the Marcellus, the Haynesville, and the Eagle Ford--the Marcellus still gets the most love with the most wells drilled and most money spent. But not by much. The company's new Haynesville assets are seeing a huge investment and will likely overtake the Marcellus at some point.

To view this content, log into your member account. (Not a member? Join Today!)