Chesapeake Energy Corp. reported the highest quarterly profit in company history and increased the amount of cash it plans to raise from asset sales this year to plug a looming funding shortfall. Second-quarter net income rose 91 percent to $972 million, or $1.29 cents a share, from $510 million, or 68 cents, a year earlier, the Oklahoma City-based company said in a statement on Monday. Excluding the gains from asset sales and other one-time items, Chesapeake earned 6 cents a share, 2 cents less than the average of 31 analysts’ estimates compiled by Bloomberg....
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