Chesapeake Energy Corporation (NYSE: CHK ) recently reported second-quarter results that were a bit below expectations. However, that had to do with the prices the company realized for oil and gas as opposed to any operational missteps.
OKLAHOMA CITY, Aug 21, 2014 (BUSINESS WIRE) -- Chesapeake Energy Corporation CHK, +2.77% today announced that Brad Sylvester will join Chesapeake as Vice President - Investor Relations and Communications.
Chesapeake Energy announced its second-quarter results on Aug. 6. The Oklahoma-based independent oil and gas producer reported a profit of just $191 million, or $0.22 per share, which was 67% below last year's second quarter.
Shale companies' finances have improved rapidly as a result of a shift by many away from natural gas towards more lucrative oil production and a pick-up in natural gas prices after they fell to 10-year lows in 2012.
Chesapeake Energy Corp., operator of the largest acreage position in the Utica shale, has this year set an ambitious development program that calls for doubling production from the play to more than 100,000 boe/d.