Summary Box: Chesapeake Energy records $530 million loss in fourth quarter
By APWednesday, February 17, 2010
Summary Box: Chesapeake Energy posts 4Q loss
TAKING A LOSS: Chesapeake Energy recorded a $530 million loss in the fourth quarter as it wrote down the value of its gas and oil properties.
DRILL DEEP: Discounting the charges, Chesapeake said it would have made $490 million in the quarter as production rose 13 percent from the year-ago quarter.
THE OUTLOOK: Production continues to climb although Chesapeake has curtailed some operations because of low gas prices and sold some projects.
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