Chesapeake Energy posts smaller loss as costs fall

Earnings Reuters

Chesapeake Energy Corporation's 50 acre campus is seen in Oklahoma City, Oklahoma, April 17, 2012. From a single 6,000-square-foot building in 1989, the multi-building complex today contains almost one million square feet of office space and includes ... employee perks like on-site Botox treatments at the headquarters. Chesapeake Energy Corp. CEO Aubrey McClendon is one of the most successful energy entrepreneurs of recent decades. But he hasn't always proved popular with shareholders of the company he co-founded, the second-largest natural gas producer in the United States. Now, a series of previously undisclosed loans to McClendon could once again put Chesapeake's CEO and shareholders at odds. Picture taken April 17, 2012. To match Special Report CHESAPEAKE-MCCLENDON/LOANS REUTERS/Steve Sisney (UNITED STATES - Tags: BUSINESS ENERGY) - RTR30VUK (Reuters)

Nov 2 (Reuters) - Chesapeake Energy Corp on Thursday posted a smaller loss in the third quarter as it kept a tight lid on costs and benefited from higher oil prices.

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Net loss available to shareholders was $41 million, or 5 cents per share, in the quarter ended Sept. 30 from $1.26 billion, or $1.62 cents per share, a year earlier.

Chesapeake had incurred operating expenses of $3.51 billion in the year-earlier quarter.

Total revenue fell to $1.94 billion from $2.28 billion. (Reporting by Yashaswini Swamynathan in Bengaluru)

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