CHESAPEAKE ENERGY CORPORATION REPORTS 2022 THIRD QUARTER RESULTS

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[{"type":"text","content":"OKLAHOMA CITY, Nov. 1, 2022 /PRNewswire/ -- Chesapeake Energy Corporation (NASDAQ:CHK) today reported 2022 third quarter financial and operating results. The company plans to host a conference call to discuss results at 9 a.m. EDT, on Wednesday, November 2, 2022. In addition, supplemental slides can be found on Chesapeake's website at www.chk.com.\nNet cash provided by operating activities of $1,313 millionNet income totaled $883 million, or $6.12 per diluted share; adjusted net income(1) totaled $730 million, or $5.06 per diluted shareDelivered adjusted EBITDAX(1) of $1,256 million and a company record $773 million in adjusted free cash flow(1)Returned $1.9 billion to shareholders in the form of dividends and share repurchases YTDAnnounced total quarterly dividend of $3.16 per common share to be paid in December 2022, approximately $1.2 billion in total dividends to be paid in 2022Simplified capital structure through exchange of approximately 2/3rds of outstanding warrants; Repurchased approximately ~$400mm of common shares since 3Q; Completed approximately $1.1 billion of $2 billion common stock and warrant repurchase program YTDProduced approximately 4,108 mmcfe per day net, of which 90% was natural gasEntered into 700 mmcf per day gas gathering and transport agreement to anchor new Haynesville infrastructure; Added approximately 1 bcf per day of transport in the last 3 months to the LNG corridor at market rates beginning in 2024(1) A Non-GAAP measure as defined in the supplemental financial tables available on the company's website at www.chk.com.\nNick Dell'Osso, Chesapeake's President and Chief Executive Officer, commented, \"The third quarter marked another period of strong performance. We remain focused on capturing the tremendous value from the premium rock, returns and runway of our Marcellus and Haynesville positions. Simultaneously, we are progressing efforts to exit our Eagle Ford position and have seen strong interest in these high-value assets. As we look to 2023, we will remain disciplined and continue to allocate capital to maximize returns from our assets, deliver sustainable free cash flow, and return that cash to shareholders through our peer-leading dividend and buyback programs. While domestic and international events continue to demonstrate the critical need for energy and the infrastructure required to tr...

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