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Wednesday, November 14, 2012

Chesapeake No Longer Tantalized By Utica Shale Oil Prospects, Still Intends to Seek NGLs

From the Akron Beacon Journal:
Cheasapeake, the No. 1 player in the Utica shale, has been going after lucrative natural gas liquids: ethane, butane and propane, in addition to natural gas and oil. It has more than 1.2 million acres leased in Ohio.
The Utica shale is not a place "where we are going to probably see a huge amount of oil production growth," he said Tuesday at an investor conference. "And to the extent the oil works, it will be with some other companies."
A Chesapeake spokesman told the Wall Street Journal: "For the time being, we are pleased to let other companies commit their capital to the oil window" of the Utica shale.
Read the entire article here.

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