Chesapeake Still Excited About Utica Shale

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Several outlets are reporting on Chesapeake Energy's comments about the Utica shale during an earnings teleconference yesterday.  The statements from the energy giant make it clear that the Utica shale still figures prominently in their plans.

From Business Journal Daily:
Oklahoma City-based Chesapeake Energy Corp. said Thursday that its drilling operations in eastern Ohio's Utica shale continue to show promise in what the company calls the core of the play, although production was hampered last year for want of pipeline infrastructure.
However, the latest results from Chesapeake's Utica wells are dwarfed by some of the production numbers delivered last year by competitor Gulfport Energy Corp., which has also staked out a position in what is emerging as the most lucrative part of the play.
From the Akron Beacon Journal:
Chesapeake also offered production information on four wells that were completed in late 2012:
• The Cain well in Jefferson County’s Springfield Township with 1,540 barrels of oil equivalents per day. That includes 6.7 million cubic feet of natural gas and 425 barrels of natural gas liquids (ethane, butane and propane).
• The Walters well in Carroll County’s Perry Township with 1,140 barrels of oil equivalents per day. That includes 3.6 million cubic feet of natural gas per day, plus 315 barrels of oil and 220 barrels of natural gas liquids.
• The Houyouse well in Carroll County’s Lee Township with 1,730 barrels of oil equivalents. That includes 5.4 million cubic feet of natural gas per day plus 525 barrels of oil and 305 barrels of natural gas liquids. Chesapeake had disclosed the totals from this well last fall.
• The Coe well in Carroll County’s Lee Township is producing 2,225 barrels of oil equivalents per day. About one-third is liquids. No other information was released. 

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