U.S. oil and gas company Chesapeake Energy Corp said it expects its capital expenses to drop by about 30% in 2020 after it reported a bigger-than-expected loss on Tuesday because of a sharp drop in production and lower natural gas prices. The company also plans to cut its 2020 production costs as well as general and administrative expenses by about 10%, Chesapeake said in a statement. Investors have been pressurizing oil and gas companies to cut back on spending and return cash to shareholders in the form of dividends and buybacks. …read more
Source:: Yahoo Finance
