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Chesapeake Energy Talks 2nd Half 2020 Drilling & Completion Plan
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Chesapeake provided an update on its plan for the second half of 2020.
Quick Read
"the remainder of the year will be focused primarily on our gas assets" "$285 million remaining to be spent in the second half will be allocated to completing wells in the Marcellus and Haynesville." sequentially production was equivalent production was down (from curtailment) 15%, however oil was down -26%The company said, "Due to the significant drop in oil prices and midstream constraints in the Current Quarter, we shut-in wells and delayed turn-in-lines, which reduced our oil production by approximately 50% and 25% in May and June, respectively. As market conditions improve, we have returned most wells to production and intend to complete most of our drilled but uncompleted wells. We anticipate…
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