“Over the past six years, our strategy, commitment and tenacity to drive differential top quartile performance for our shareholders, has been consistent and strong and vibrant regardless of external or internal challenges.” That is according to Chesapeake Energy Corp.’s CEO, Doug Lawler. He said on the firm’s Q1 earnings call that “During these transformation years, we have shared our significant progress on debt and obligation reductions, operating and capital efficiencies, profitability improvements and the simplification of our business.”
Importantly, for the last 16 quarters in a row, he said, the company has met or exceeded the street consensus earnings estimates demonstrating the strength of our employees, asset portfolio and strategy. “We are consistently executed and performed as we have projected and we will continue to sharpen and improve our business delivery to drive greater value for our shareholders.”
The foundational improvements in the company’s balance sheet and capital efficiency and cash generating ability, combined with the company’s operational expertise and scale have positioned the company to accelerate its rate of improvement and value creation from its diverse asset base, he noted.
In the first quarter, Chesapeake continue to execute on strategic priorities, delivering yet again strong financial and operational results, he noted on the call. “As we look at our performance, no, asset exemplifies the energy, talent and conviction of our employees to deliver significant change in a short period of time rather than our new Brazos Valley asset, an asset we now project will be cash flow positive at the asset level this year.”
Lastly, he said, “As we look ahead to the rest of the year, our talented employees are focused on delivering our strategic priorities and creating more value for Chesapeake while maintaining our safety and environmental leadership. We look forward to sharing more of our progress with you throughout the year.”