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Shale driller Chesapeake Energy's shares shoot higher on Q4'18 win, 2019 outlook

Feb 28, 2019 - SNL Energy Finance Daily
Financial Results

Shares in Chesapeake Energy Corp.'s beaten-down stock got a boost after the company delivered earnings that beat analysts' expectations and after it promised to spend 75% of its 2019 drilling budget hunting shale oil in Texas and Wyoming.

Chesapeake shares gained 10% at the opening bell on Feb. 27 and were up 13% by early afternoon in extremely heavy trading. The movement came after company earnings beat Wall Street's expectations by 3 cents per share, hitting 21 cents versus the 18 cents ...