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Low oil and gas prices lead to big writedown at Chesapeake Energy
2015-11-04 22:32:47| Energy - Topix.net
Chesapeake Energy performed better than analysts expected during the third quarter even as a $5.4 billion writedown wiped out its profits and the sustained drop in energy prices means more writedowns are coming. Chesapeake posted a net loss of $4.7 billion, or $7.08 a share, compared with a profit of $662 million, or 26 cents, a year earlier, the Oklahoma City-based company said Wednesday.
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Category:Energy and Environment
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