Chesapeake Energy has reported adjusted profits helped by lower expenses.
The US natural gas producer has kept its capital budget nearly unchanged.
The firm said decreased costs for oilfield services and more efficient drilling processes are helping oil producers extract more barrels out of the ground, without having to spend more.
Oil producers are remaining tight fisted to cope with an almost 60% fall in oil prices since mid-2014 which has depleted cash balances and forced asset sales.
The company has almost nearly $9billion of debt outstanding as of September 30th.
Chesapeake also added $2million to its 2017 budget and now expects to spend up to $2.62billion.
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