Chesapeake Energy Corp reported second quarter results on Wednesday amidst speculation about the viability and future of the company.

Like many other shale drillers over the past year, Chesapeake is struggling. Prolonged crude prices and legal trouble are taking its toll and for the second straight quarter the company is reporting a huge net loss. For Q2, the loss is $4.151 billion.

Related: Chesapeake Energy Reveals Huge Q1 Loss

Analysts are having a field day predicting whether Chesapeake will sell or find partners for its oil and gas fields, with some suggesting that the company is ripe for a takeover.

In the face of all the speculation, Doug Lawler, Chesapeake’s Chief Executive Officer, responded confidently in a conference call to investors, sharing that there are several scenarios where the company would be able to accelerate its drilling activity and production beginning in 2016.

Eagle Ford Highlights

• Year-to-date well costs are down 12% from the 2014 average to $5.2 million per well
• Production decreased by 7% this quarter to average approximately 105 thousand barrels of oil equivalent (mboe) per day. The company blamed the decrease on a facility that was out of commission for more than 60 days, but as the facility was brought back online, the company reports an all-time production high of 127,000 BOE per day in July
• Chesapeake expects to spud its first upper Eagle Ford well in the 2015 third quarter
• Operated rig count in the Eagle Ford averaged six rigs in the 2015 second quarter, down from 20 a year ago, and the company anticipates maintaining three operated rigs for the second half of the year.

Other Q2 Highlights

• Production averaged approximately 703,000 boe per day, an increase of 13% year over year, adjusted for asset sales
• Adjusted net loss of $0.11 per fully diluted share and adjusted ebitda of $600 million
• 2015 total production guidance increased to 667 – 677 mboe per day, up 4% from midpoint of prior guidance
• 2015 production and general and administrative expense guidance lowered
• 2015 capital guidance maintained at $3.5 – $4.0 billion
• Strategic asset sales, joint ventures and participation agreements being pursued in multiple operating areas

Read more at chk.com