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Monday, August 5, 2013

New Chesapeake CEO Says Company Loves the Utica Shale

From the Akron Beacon Journal:
“First let me say that I really am encouraged by what I’ve seen in the Utica,” said Doug Lawler, the company’s chief executive officer, on Thursday in a teleconference. 
He added: “The Utica is outstanding.” 
“We’ve got a lot of wells that we’re getting ready to bring online … I’m very encouraged by it … and I think it’s an exciting area for the company,” he told financial analysts in a report on second quarter 2013 earnings and operations. “We see the Utica to be a very strong asset going forward.” 
The company intends to focus on the most-productive areas in the Utica shale for natural gas, petroleum and other liquids including ethane, butane and propane, he said. 
More multiwell pads will be developed in Ohio — with multiple wells being drilled from the same pad or drilling area, a move that will increase production with lower drilling costs, he said.
Read more about the teleconference by clicking here. 

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