Shares of Chesapeake Energy Corp. soared 3.7% in active premarket trade Wednesday, after the oil and gas exploration company beat profit expectations. Net income rose to $268 million, or 29 cents a share, from $75 million, or 8 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 34 cents, above the FactSet consensus of 27 cents. Total revenue slipped to $2.49 billion from $2.75 billion, but was well above the FactSet consensus of $1.40 billion. Oil, natural gas and NGL revenue fell to $1.24 billion from $1.47 billion, to miss the FactSet consensus of $1.29 billion, and marketing revenue slipped to $1.25 billion from $1.28 billion but exceeded expectations of $1.20 billion. Average daily production increased to 554,000 barrels of oil equivalent from 528,000 boe. “The strength of our operations and improved cost structure, coupled with higher realized prices, resulted in our best quarterly financial performance in over three years,” said Chief Executive Doug Lawler. The stock has tumbled 24.8% year to date through Tuesday, while the SPDR Energy Select Sector ETF has gained 1.5% and the S&P 500 has slipped 0.7%.