The addition of the repurchase program reflects Chesapeake Energy's (CHK) strong commitment of returning capital back to stockholders.
For 2022, Chevron (CVX) expects to spend $15 billion on capital expenditure, of which 84% is planned to be incurred on its upstream operations.
Chesapeake Energy Corp on Thursday authorized the repurchase of up to $1 billion of common stock, becoming the latest shale producer to focus on shareholder returns, as energy prices recover from pandemic lows. Most publicly traded energy companies have vowed to focus on shareholder returns over increasing production. "We estimate that total cash dividends to be paid to shareholders in 2022 will range from $800 million to $1 billion, based on our recent outlook and the current commodity price environment," Chesapeake Chief Executive Officer Nick Dell'Osso said.