With low US natural gas prices having forced Chesapeake Energy to shift its focus to liquid-rich plays in the past year, the company on Tuesday reported a net loss of $71 million in the first quarter of visual_editor01visual_editor – an improvement on the $visual_editor05 million loss during the same period last year. Despite production cutbacks of 54 Bcf during February and March, average daily gas production in Q1 was still visual_editor% higher than at the end of visual_editor011, and 18% higher year-on-year at 3.658 Bcf/d.
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