Chesapeake Energy Third-Quarter Profit Rises to $558 Millione

Chesapeake Energy Corp., the second- largest U.S. natural-gas producer, said third-quarter profit rose as production increased.

Net income was $558 million, or 75 cents a share, compared with $192 million, or 30 cents, a year earlier, Oklahoma City- based Chesapeake said today in a statement on Business Wire. Gains from contracts used to lock in commodity prices added $687 million to Chesapeake’s income in the same period last year.
[Read more]
Source: Bloomberg