http://www.bloomberg.com/news/2012-08-06/chesapeake-net-income-rise...

http://in.reuters.com/article/2012/08/06/chesapeake-results-idINL2E...

Basically, earnings look good due to one time asset sales and the impact of certain other issues.  Exclusive of those issues, earnings were down from $0.07/ share to $0.06/share.

Wall street traders are pushing the stock up after hours, probably on increased expectations for asset sales.  

There is some other good stuff in there, but unless the bottom falls further out on NG, CHK isn't going bankrupt anytime soon.