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...Chesapeake Energy also rose after the second-biggest US natural gas driller narrowed its quarterly loss. It reported a net loss of $921m, or $1.44 a share, for the quarter to the end of March....
...“Chesapeake would much rather be selling liquid-poor assets, but you can’t sell unless there’s a buyer,” said Biju Perincheril, an oil and gas analyst at Jefferies....
...Declines in the S&P Oil & Gas Exploration & Production Select Industry Index, which includes producers such as Chesapeake Energy and Range Resources, have been worse than those of the broader S&P 500 stock...
...Onshore US gas producers were lower. Cabot Oil & Gas fell 0.2 per cent to $33.66. QEP Resources fell by 1.7 per cent to to $29.68, and Murphy Oil lost 0.3 per cent to $64.96....
...The answer was that the gas had come from the seemingly impermeable layer of shale above the sandstone. “Oil and gas is first found in people’s minds,” Mr Korell says....
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