World Markets

Chesapeake Energy quarterly profit rises 57 percent


Feb 27 () - Chesapeake Energy Corp reported a 57 percent rise in quarterly profit on Wednesday, benefiting from higher natural gas prices.

The Oklahoma-based natural gas and oil producer said net income available to shareholders rose to $486 million, or 49 cents per share, in the fourth quarter ended Dec. 31, from $309 million, or 33 cents per share, a year earlier.

Chesapeake's production fell to 464,000 barrels of oil equivalent per day from 593,000 boepd.

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