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Chesapeake Cuts 2014 Output Growth Estimate

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May 16, 2014

Chesapeake Energy Corp. (NYSE: CHK), the U.S. natural gas explorer that was on the verge of running out of cash two years ago, said output will grow by the slimmest margin in 14 years as the company sheds its weakest-performing assets.

Chesapeake cut its output growth estimate for this year to 2.2% in a statement May 16, compared with a 4.3% target announced earlier this month. The fall-off stemmed from wells the Oklahoma City-based company is selling from Pennsylvania to Wyoming as part of $4 billion in divestitures by CEO ...

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