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UPDATE 3-Chesapeake to spend less in 2014, targets higher output

2014-02-07 12:03:42| Energy - Topix.net

Chesapeake Energy Corp on Thursday cut its capital budget for the year by more than a fifth as Chief Executive Officer Doug Lawler focuses on drilling in U.S. shale basins with the highest returns, but the company's oil production outlook disappointed and the stock fell more than 7 percent.

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