In the following video, Motley Fool energy analyst Joel South takes a deep look at Chesapeake Energy(NYSE:CHK), and what its earnings report means for investors. While the company was forced to take a write-down due to falling natural gas prices, this was only non-cash expense, and does not change the underlying assets, and shouldn't concern investors. The bigger news was Chesapeake beating earnings estimates, growing its overall production, and addressing its cumbersome debt profile, all things that investors should feel positive about.

Joel South has no position in any stocks mentioned. The Motley Fool owns shares of Devon Energy and has the following options: Long Jan 2014 $20 Calls on Chesapeake Energy, Long Jan 2014 $30 Calls on Chesapeake Energy, and Short Jan 2014 $15 Puts on Chesapeake Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.