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Wednesday, November 6, 2013

Chesapeake Sees Increase in Utica Shale Gas Production

From Columbus Business First:
Chesapeake said net production in the Utica averaged approximately 164 million cubic feet of natural gas equivalent per day for the quarter ended Sept. 30. That was a 91 percent increase compared with second quarter production, the Oklahoma City-based company said in its third-quarter earnings report.
Chesapeake, which remains the dominant driller in eastern Ohio, said it connected 63 wells to pipeline systems in the quarter after connecting 42 in the second quarter. An industry expert told me that’s in line with the fact that more pipeline and processing facilities are coming online in the Utica,easing a production bottleneck at wellheads.
Read the entire article here.

 Chesapeake also gave updates on the ongoing efforts of Doug Lawler to cut costs and reduce debt in the wake of the mass firings that have taken place under his watch.  Click here to read more.

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