Feb 26 (Reuters) - Chesapeake Energy Corp swung to a quarterly net loss, hurt by charges related to its efforts to reduce debt and simplify its balance sheet.
The No.2 U.S. natural gas producer reported a net loss of $159 million, or 24 cents per share for the fourth quarter, compared with a net profit of $250 million, or 39 cents per share, a year earlier.
Revenue rose 28 percent to $4.54 billion.
The company took charges related to employee termination costs and discontinued rig lease contracts, among other things, in the quarter ended Dec. 31.
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you