In this video, analyst Joel South discusses Chesapeake's strong second-quarter results, including its record net income of $929 million. The company gained a much-needed 10% yesterday after the market digested management's comments and analyses. Second-quarter results were strong, but the market strongly reacted to the company's plan of increasing asset sales to $13 billion to $14 billion for 2012. Click on the video below for more information on Chesapeake's plan of offloading $7 billion in assets over the next quarter and what this means for the company going forward. 

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Joel South owns shares of ExxonMobil. The Motley Fool owns shares of ExxonMobil and has the following options: long JAN 2013 $16.00 calls on Chesapeake Energy, long JAN 2013 $25.00 calls on Chesapeake Energy, long JAN 2014 $20.00 calls on Chesapeake Energy, and long JAN 2014 $30.00 calls 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.