Chesapeake Energy has loss, sees more output

May 6, 2015 11:46 AM

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Chesapeake Energy has loss, sees more output

(Reuters) - Chesapeake Energy Corp (CHK.N) on Wednesday raised its oil and gas production forecast for the year even as the second largest U.S. producer of natural gas reported a quarterly loss related to lower commodity prices.

Chesapeake, like other shale producers including Devon Energy Corp (DVN.N), has slashed budgets in response to the crude oil price collapse, but a focus on making the drilling process more efficient and lower costs are enabling the companies to pump more oil.

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