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Wednesday, May 29, 2013

Chesapeake Expecting Its Utica Shale Production to Increase by 500% By End of Year

From The Salem News:
"We are currently operating 14 rigs in the play and we will continue to develop that with the benefit of a drilling carry from Total (French oil company) that will last at least through the end of 2014. The Utica Shale, we're very excited about, it's still very early in the play. Our production today is currently about 65 million cubic feet a day on a net basis. We expect to ramp that up to about 330 million by the end of the year as additional processing capacity comes on line. I believe the Natrium facility is coming on line right about now and mid- to late summer we should have incremental processing capacity at Momentum's plant at Kensington in Columbiana County. And that should also lead to strong growth."
Chesapeake said it will focus on drilling and completion activities on its existing leases for 2013, he said adding the company remains zeroed in on its 10 key plays.
Read the entire article here. 

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