Chesapeake Energy’s CEO voices confidence in company’s operating and capital plans
OKLAHOMA CITY – Speaking on Chesapeake Energy’s recent market volatility, CEO Doug Lawler commented, "Chesapeake continues to strongly believe our current capital and operating program, coupled with the planned 30% reduction in capital expenditures in 2020, will strengthen the financial position of the company for the long term. We have substantial liquidity with no significant near-term maturities. We continue to pursue strategic levers to reduce debt, including asset sales, capital markets transactions, and focus on cost discipline. Additionally, we are de-risking our cashflows through our hedging program and remain confident in our long-term liquidity."
Chesapeake’s stock has tumbled as much as 43% in recent weeks, following a third quarter earnings report that raised doubts about the company’s ability to continue as a going concern.
