Chesapeake Reports Robust Profits for 2023, Plans Lower Production

Chesapeake Energy reported expectation-beating profits for 2023 even though the figure was lower than the net result for 2022, standing at $2.4 billion, versus $3.5 billion for 2022. The company also reported net cash from operating activities at $2.4 billion for 2023, which was a much stronger figure than the one for 2022, which stood at $1.05 billion. In production, Chesapeake reported an average daily output of 3.66 billion cubic feet of natural gas equivalent. In the final quarter of the year, however, the average was lower,…