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Eagle Ford Operator to Cut Rig Count by 20% in 2019
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Chesapeake Energy Corp. detailed its rig plans for 2019 - which includes cutting its fleet by approximately 20% (from 18 rigs down to 14).
We took a look at the company's rig trends over recent months as well as what the company has planned for WildHorse's acreage position (see pro forma acreage map below).
The company's rig count peaked in October 2018 at 21 rigs and has declined steadily in the months since.
WildHorse Acreage - Rig PlansChesapeake is also in the final stages of wrapping up its acquisition of WildHorse Resource Development.
We took a look at WildHorse's rig activity over recent quarters, which has been on the steady decline since the company entered into the merger deal with Chesapeake.
Chesapeake noted it intends to operate four rigs on the WildHorse acreage in 2019.
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