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Mar 31, 2023
Chesapeake Q1 2023 Earnings Report
Reported strong first quarter results driven by disciplined capital program and focus on maximizing returns and delivering sustainable free cash flow.
Key Takeaways
Chesapeake Energy Corporation reported strong first quarter 2023 results, including net income of $1,389 million, adjusted EBITDAX of $774 million, and adjusted free cash flow of $241 million. The company remains focused on disciplined capital program and returning cash to shareholders.
Net income totaled $1,389 million, or $9.60 per diluted share; adjusted net income totaling $270 million, or $1.87 per diluted share.
Delivered adjusted EBITDAX of $774 million and $241 million in adjusted free cash flow.
Produced approximately 4,069 mmcfe per day net.
Returned more than $250 million to shareholders YTD in the form of dividends and share repurchases.
Forward Guidance
The company expects to drill 35 to 45 wells and place 30 to 35 wells on production in the second quarter of 2023. The company's operating plan remains flexible and is prepared for further adjustments, higher or lower, based on market conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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