Mouse Over to Stop Rotation & Read Ad

Tuesday, July 31, 2018

Analysts Say Chesapeake Energy Exiting Utica Shale Will Be Good for the Play

From The Columbus Dispatch:
Loaded with debt, Chesapeake Energy was never able to fully take advantage of the 900,000 acres of land it controlled in Ohio’s natural-gas rich Utica shale region. 
That’s about to change. 
Thursday’s announcement that Oklahoma City-based Chesapeake is selling its stake in the eastern Ohio region for $2 billion to Encino Acquisition Partners figures to result in more production from a better-financed company that can invest in the region. 
“We can’t grow the investment as we like, and that makes it a strong candidate for divestiture,” said Doug Lawler, Chesapeake’s president and CEO. 
Seth Brooks, an analyst with the website ShaleExperts.com, said the sale will benefit the region. 
“It’s a good thing. You have Chesapeake going through a rationalization of its portfolio. They couldn’t go develop the asset the way they wanted to,” he said. 
Matthew Hammond, executive vice president of the Ohio Oil and Gas Association, agrees. 
“Chesapeake divesting its Utica shale assets in Ohio is a positive move for Chesapeake and creates a new opportunity for someone else to come in and continue to develop this resource and acreage,” he said.
The rest of this article can be read by clicking here.

Connect with us on Facebook and Twitter!

2 comments:

  1. I will be happy if you read my comment. I must say that I like all your posts and wait for new ones. That's because they seem so great and suitable for me. Thanks a ton for uploading your articles.
    Short Ride game racing free || Jump Ball Blast Online games kids for school || online Downhill Rush

    ReplyDelete
  2. What do I say about your posts? I love them. I read them everyday and always wait for new ones. I am very happy because I have something interesting to read. Hope you can upload more and more.
    Santa Snake girls game unblocked || Adam And Eve 5 Part 1 games 2018 || games play free Icy Purple Head

    ReplyDelete

Follow by Email