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Operator Increases Guidance; Now Plans to Drill & Complete 400 Wells
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Chesapeake provided the following update to its guidance during 1q2017.
Drilling Plans/Drilling Program - 2017 Eagle Ford Play : Liquids Play : 6 Rigs Powder River Basin : Liquids : 2 Rigs Mid-Continent / Merge : Lilquids : 4 Rigs Marcellus Shale : Gas : 1 Rig Utica Shale : Gas : 2 Rigs Haynesville : Gas : 3 RigsChesapeake is currently utilizing 19 drilling rigs (above the 2017 first quarter average of 16) across its operating areas, seven of which are located in the Eagle Ford Shale, five in the Mid-Continent area, three in the Haynesville Shale, two in the Powder River Basin and two in Northeast Appalachia. Chesapeake plans to utilize an average of 17 rigs throughout the year and intends to spud and place on production approximately 400 and 450 gross operated wells, respectively…
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