CHK Stock Recent News

Bill Perkins, Skylar Capital founder, and CNBC's Pippa Stevens join 'Power Lunch' to discuss a possible merger between Chesapeake and Southwestern and natural gas outlook.

Southwestern's (SWN) substantial production in the Appalachian and Haynesville shale formations complements Chesapeake's (CHK) current operations in these regions.

Southwestern Energy and Chesapeake Energy are close to a merger that would create a roughly $17 billion company ranking as one of the largest natural-gas producers in the U.S.

Shares of Chesapeake Utilities Corp. CPK, -1.19% slumped 1.0% toward a three-year low in premarket trading Friday, after the after the Delaware-based electric utility announced a $330 million public stock offering. The offering represents 21.3% of the company's market capitalization of $1.55 billion as of Thursday's close.

The headline numbers for Chesapeake Energy (CHK) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Chesapeake Energy Corporation (NYSE:CHK) reported a significant year-over-year drop in profit as its bottom line was negatively impacted by lower commodity prices. Its third quarter profit fell from $883 million or $6.12 per share in the year-ago quarter to $70 million or $0.49 per share.

In August, Chesapeake Energy Corporation sold the remaining Eagle Ford assets for $700 million, bringing the total proceeds from the exit to over $3.5 billion. The company warns of lower production for the second half of 2023 due to weakening natural gas prices and reduced demand. Chesapeake Energy reports second-quarter income of $391 million, significantly lower compared to the same period last year.

Chesapeake (CHK) is in preliminary talks with Southwestern Energy for a potential acquisition, which could redefine the U.S. natural gas sector.

OKLAHOMA CITY , Oct. 17, 2023 /PRNewswire/ -- Chesapeake Energy Corporation (NASDAQ:CHK) today announced that it will release its 2023 third quarter operational and financial results after market close on Tuesday, October 31, 2023. A conference call to discuss the results has been scheduled on Wednesday, November 1, 2023 at 9:00 am EST.

Southwestern Energy Co. SWN, +7.39% shares surged Tuesday following a report that Chesapeake Energy Corp. CHK, +0.30% is looking to buy the natural-gas producer. Southwestern Energy shares rallied more than 7% to an intraday high of $7.33, following a Reuters report that Chesapeake and Southwestern are in preliminary talks, according to sources close to the matter.