Chesapeake Energy Corp . posted a surprise fourth-quarter net loss on asset-sales and other one-time items that masked the oil and natural-gas producer’s production and revenue growth. The unexpected loss of $116 million, or 24 cents a share, spooked investors, sending its shares down 4.9% to $25.61 in 4 p.m. New York Stock Exchange trading on Wednesday. The company’s one-time items included an impairment charge of $120 million related to the ending of property obligations in Texas, $37 million to end drilling-rig leases and $43 million related to job-cutting and restructuring costs. Excluding asset-sale write-downs and other items, adjusted fourth-quarter earnings rose to 27 cents a share from 26 cents a share. Analysts polled by Thomson Reuters were expecting Chesapeake to report a per-share profit of 41 cents excluding items. Revenue increased 28% to $4.54 billion. The company has struggled to reduce its spending while boosting oil and natural-gas […]

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