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Last December the Chesapeake Energy board of directors authorized management to buy back up to $1 billion worth of company stock and warrants during 2022 and 2023, as market conditions permit (see Chesapeake Announces $1B Stock Buyback Over Next 24 Months). The board voted yesterday to double the amount of the buyback from $1 billion to a staggering $2 billion by the end of 2023. So far Chesapeake has repurchased 5.4 million shares at an average price of $89 per share, equalling roughly $480.6 million in shares repurchased.
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