Chesapeake Energy Corporation (NASDAQ:CHK) Q3 2023 Earnings Call Transcript

Noel Parks: Great. And just one sort of cleanup item. I just wondered, in retrospect, looking back, do you have a sense that what happened with Freeport and the volumes that did not go out on that because of that outage. Do you think that, that impact has fully worked its way through either storage or through the markets perception of where supply/demand fundamentals really are right now? Or do you think there’s somebody to do that still an overhang or still sort of flying under the radar as we head into another withdrawal season?

Nick Dell’Osso: That’s a good question. I think it’s probably pretty well worked through. I think the fundamentals at this point are all about what the draw will be weather-related this winter, what the trajectory of production is from the capital reductions you’ve seen in US onshore through 2023 and then the timing of new export capacity coming online sometime around the end of 2024, beginning of 2025. Those are your three big variables and those are going to be your biggest drivers.

Noel Parks: Great. Thanks a lot.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Nick Dell’Osso for any closing remarks.

Nick Dell’Osso: Thanks everyone. We really appreciate everybody’s time and questions this morning. As always, our team is available today and any other day to answer any further follow-up questions. We’ll be at a few conferences between now and the end of the year and look forward to seeing everybody out on the road. Have a good day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.