Drilling & Completions | Quarterly / Earnings Reports | First Quarter (1Q) Update | Capital Markets | Capital Expenditure | Drilling Activity | Drilling Program-Rig Count
Chesapeake Q1: TIL Activity Flat YOY with 12 Rigs Active; Focuses on Upping Oil Output
Print
|
Chesapeake Energy Corp. reported its Q1 2019 results. Here are the highlights.
Q1 2019 Spending Only UP +3% Despite WildHorse Acquisition
Chesapeake's spending in Q1 was approximately $559 million, including capitalized interest of $6 million.
- This is only up a slight +3% from Q1 2018 spending, despite having just finalized its nearly $4B acquisition of WildHorse Resource Development in February.
Q1 Drilling Activity Up Noticeably YOY - Comparable to 2018 Totals
As you can see from the chart below, the number of wells turned in line in by Chesapeake post-acquisition in Q1 2019 is comparable to the combined number of wells from both Chesapeake and WildHorse in Q1 and Q2 2018.
Rig count declined (on a combined basis) YOY, which is to be expected (see chart below). Chesapeake is currently running 12 rigs - down 33% from the combined rig count in Q1 2018.
Activity by Play - Q1 2019
Brazos Valley Asset
South TX
Powder River Basin
MidContinent
Marcellus
Haynesville
Latest in Drilling Efficiencies
Production - Focused on Getting Oilier; 32% Growth by Year-End
Q1 Total Production: 484 MBOEPD
- Avg. Oil Production of 109,000 BOPD - YOY absolute growth of 18%, or 13% adjusted for asset purchases and sales
The company remains on track to deliver oil growth of approximately 32% with a year-end oil mix of approximately 26%.
More First Quarter (1Q) Update News
Gulfport Touts Super Long Lateral and Strategic Pivot To Gas Asset
Gulfport Energy Corporation kicked off 2025 with a quarter of operational precision, pricing strength, and clear strategic intent — setting the stage for a transformative year ahead. From…
Civitas Provides Update on Current Rigs & Frac Crews
Second Quarter Outlook The Company has reiterated its full year guidance for 2025. For the second quarter, Civitas anticipates approximately five percent oil volume growth at the midpoint…
NuVista Energy – 2025 Capital Program and Operating Momentum
NuVista enters 2025 with strong operational momentum following a record 2024 and a balance sheet that affords both growth and shareholder returns. The Company has reaffirmed its ~$450…
Large Permian E&P Talks 1Q'24; 282 Wells Planned for 2024
Diamondback Energy provided an update to it's first quarter 2024. Let's first take a look at the development plan. The company program remains unchanged, and one can expect…
CNX Resources Cut Frac Activity 50%, Talks 1st Quarter Activity
CNX Resources a marcellus operator provided an update on its first quarter 2024 activity. Activity quick Read - Reduced to 1 rig - Reduced from dedicated frac crew…
Ark-La-Tex News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
These Three Companies Will Increase Drilling & Completion Over The Next 3 Year
In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
Ascent Resources 2026: A Quiet Growth Story for Oilfield Services
Ascent Resources may not be making headlines with rig additions or dramatic well count increases, but a closer read of their March 2026 investor presentation — compared against…
Gulf Coast News
Diversified Energy Striking While the Iron is Hot in East Texas
Transaction Summary Diversified Energy has entered into a definitive purchase and sale agreement to acquire high-working interest, natural gas producing assets in East Texas from Sheridan Production for…
Infinity Closes $1.2B Utica Upstream & Midstream Deal
Infinity Natural Resources has completed its $1.2 billion acquisition of upstream and midstream assets in the Ohio Utica Shale from Antero Resources and Antero Midstream, according to company disclosures…
Antero Resources Completes $2.8B Marcellus Expansion
Antero Resources Completes $2.8B Marcellus Expansion Antero Resources has completed the previously announced acquisition of upstream assets from HG Energy II, LLC, significantly expanding its core position in…
Mitsubishi to Buy Aethon for ~$5.2B, Taking Scaled Haynesville Gas Platform
Mitsubishi Corporation has agreed to acquire Aethon (Aethon III LLC, Aethon United LP and related entities) for a total equity investment of approximately $5.2 billion, delivering Mitsubishi a…
An Eagle Ford Team That Cashed Out Is Back for Another Cycle
Houston — January 15, 2026 — Lime Rock Partners, a Houston-based private investment firm specializing in upstream oil and gas, has completed an equity commitment to Athena Energy…