Chesapeake Energy Corporation Reports 2021 First Quarter Results, Initiates Common Stock Dividend And Announces Updated Guidance
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OKLAHOMA CITY, May 11, 2021 /PRNewswire/ Chesapeake Energy Corporation (NASDAQ: CHK) today reported 2021 first quarter results, launched a cash dividend program based on strong operating cash flow performance and announced its updated 2021 guidance. Highlights include:
Successor net income totaled $295 million, or $2.75 per diluted share
Generated adjusted EBITDAX (a non-GAAP measure) of $510 million for the combined 2021 Successor and Predecessor Periods (January 1, 2021 - March 31, 2021)
March 31, 2021 unrestricted cash balance of $340 million; reducing March 31, 2021 net debt (a non-GAAP measure) to adjusted 2021E EBITDAX ratio to 0.6x
/PRNewswire/ Chesapeake Energy Corporation (NASDAQ:CHK) today announced that it will release its 2021 first quarter operational and financial results after.
Chesapeake Energy Corporation Successfully Emerges From Financial Restructuring
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OKLAHOMA CITY, Feb. 9, 2021 /PRNewswire/ Chesapeake Energy Corporation (NASDAQ: CHK) announced today that it has successfully concluded its restructuring process and emerged from Chapter 11, satisfying all conditions precedent under its Plan of Reorganization (the Plan ). Highlights of the reorganized Chesapeake include:
Anticipated cumulative free cash flow of more than $2 billion over the next five years, providing stability and optionality to return cash to shareholders
Targeting long-term net debt to EBITDAX ratio of less than 1.0 times
Issued $1 billion senior unsecured notes at a weighted average coupon of less than 5.7%
Chesapeake Energy Corporation Announces Offering Of Senior Notes
Proceeds Will be Used to Partially Fund Emergence From Chapter 11
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OKLAHOMA CITY, Feb. 2, 2021 /PRNewswire/ Chesapeake Energy Corporation ( Chesapeake ) today announced that, subject to market conditions, Chesapeake s wholly-owned indirect subsidiary, Chesapeake Escrow Issuer LLC (the Issuer ), intends to offer $500 million aggregate principal amount of senior notes due 2026 (the 2026 Notes ) and $500 million aggregate principal amount of senior notes due 2029 (the 2029 Notes, and collectively with the 2026 Notes, the Notes ) pursuant to exemptions from registration under the Securities Act of 1933, as amended (the Securities Act ). The offering of the Notes is part of a series of exit financing transactions being undertaken in connection with a restructuring of Chesapeake and certain of its subsidiaries (collectively, the Debtors ), to be effected thro
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