Chesapeake Energy Corporation announced a $964 million net loss during the first quarter of 2016. That's $1.44 per fully diluted share.
In a news release, the company said, "The primary driver of the net loss was a noncash impairment of the carrying value of Chesapeake's oil and natural gas properties of approximately $853 million, largely resulting from decreases in the trailing 12-month average first-day-of-the-month oil and natural gas prices as of March 31, 2016, compared to December 31, 2015."
On Wednesday, Devon Energy announced a $3.1 billion loss in the first quarter.
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