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Chesapeake to Grow Output 15% by 2018; Rig Count Up to 11 (+2 Gain from Q2)
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Chesapeake reported financial and operational results for the 2016 third quarter plus other recent developments.
Key Points: 11 rigs currently running - three Eagle Ford Shale / three in the Haynesville Shale / three in the Mid-Continent / two rigs in the Utica Shale. 4Q Plans - drill 50 to 60 wells / place approximately 100 to 110 wells on production Production Growth Through 2018: Projecting an exit-to-exit increase in its oil production from the fourth quarter of 2016 to the fourth quarter of 2017 of approximately 10%. For 2018, the company is currently projecting an increase in its total production from the fourth quarter of 2017 to the fourth quarter of 2018 of approximately 15%, primarily driven by an exit-to-exit increase in its oil production from the fourth quarter of…- ✓ Full news archive — U.S., Canada & international coverage
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