Chesapeake reports Q1 adjusted EPS 56c, consensus 60c

Reports Q1 production approximately 3.20 bcf/d net. Nick Dell’Osso, Chesapeake’s President and CEO, said, “Today’s results show the strength of our portfolio and strategy, further demonstrating that our company was built to withstand demand cycles. As we build productive capacity, we continue to focus on capital discipline and prudently respond to today’s market conditions. We remain excited about our pending combination with Southwestern which we expect will close in the second half of this year. The merger positions us to expand America’s energy reach to markets that are increasingly turning to natural gas to meet the growing demand for reliable, affordable, lower carbon energy to domestic and international consumers.”