Replies to post #6752 on Chesapeake Energy Corp (CHK)

[eFinanceMarkets]

Chesapeake CEO sees debt cuts, higher production aiding revival

Chesapeake Energy (CHK +1.9%) moves higher following the disclosure that a director purchased 20.4K shares at $4.55/share.

The move extends yesterday's 2% gain after CHK said at a J.P. Morgan energy sector conference that it expects to sell $2B-$4B of debt from its balance sheet by 2018.

President and CEO Robert Lawler declined to provide earnings guidance, instead assuring conference attendees that "we're focused on driving down our debt further. And we remain very, very flexible with tremendous optionality on oil and gas across the portfolio."

Lawler also said the company's Eagle Ford wells would be more productive and lucrative in H2.

[Lcbm68]

This public news is going to help in Q3 and going forward. Mark my words in august through September $6 ~ 6.75 onwards and upwards