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Chesapeake Touts Jump in PRB Output; May Add Sixth Turner Rig as IPs Impress
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Chesapeake Energy reported its Q2 2018 results.
Powder River Production Sees Huge Jump from Q4Chesapeake saw a 78% increase in net production compared to the average 2017 fourth quarter rate - debuting a new record of approximately 32,000 net BOEPD (42% oil, 41% natural gas and 17% natural gas liquids).
The company now expects total net annual production from the PRB to more than double in 2019 compared to 2018.
In July 2018, Chesapeake moved to five rigs in the PRB, all of which are primarily focused on the Turner formation.
The company is exploring the potential of adding a sixth rig in 2019 and remains encouraged about the future growth potential offered by additional formations such as the Teapot, Parkman, Niobrara…- ✓ Full news archive — U.S., Canada & international coverage
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