Q2 earnings reporting is in full swing and for many upstream companies, hedging led to losses. Companies like Chesapeake Energy(PG 10), Devon Energy(PG 8) and Range Resources (PG 9) have all reported net losses due in part to derivative losses weighing down their net income, while EQT, which also reported losses from derivatives, posted modest Q2 net income (PG 10).Most companies are playing up common stock buybacks. Cover page company ConocoPhillips increased its buyback......
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