Chesapeake Energy quarterly profit rises 57 percent

The Oklahoma-based natural gas and oil producer said net income available to shareholders rose to $486 million, or 49 cents per share, in the fourth quarter ended Dec. 31, from $309 million, or 33 cents per share, a year earlier. Chesapeake’s production fell to 464,000 barrels of oil equivalent per day from 593,000 boepd. Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel