Chesapeake Energy Corp, the second-largest U.S. producer of natural gas, on Wednesday reported a lower quarterly profit, citing a loss on the repurchase of debt and lower prices.

The Oklahoma City company reported a second-quarter profit of $145 million, or 22 cents per share, compared with $467 million, or 66 cents a share, a year earlier.

Oil and natural gas production, adjusted for asset sales, was 695,000 barrels oil equivalent per day, up 13 percent from a year earlier.

(Reporting by Anna Driver; Editing by Lisa Von Ahn)