Chesapeake Energy reported second quarter 2017 results last week. As is typical, the company hosted a conference call with analysts to discuss those results. However, Chesapeake CEO Doug “the ax” Lawler had some rather exciting news about the Marcellus to report–late breaking news. In recent weeks Chesapeake has brought online an experimental well drilled in Wyoming County, PA (northeastern part of the state) with an initial production of 61 million cubic feet equivalent per day (MMcfe/d). This is a MONSTER Marcellus well! The most productive onshore shale well we know of is EQT’s Utica well in Greene County, PA, with a 72.9 MMcfe/d IP rate, drilled in July 2015 (see EQT’s 1st Utica Well Shatters Record – 72.9 MMcf/d IP Rate!). The Chesapeake McGavin well in Wyoming County, with a 10,500 foot lateral, has the highest IP of any Marcellus well we’ve heard of. How did Chessy do it? They unleashed “32 million pounds of Hell on Earth” (meaning frac sand) to frack the well. Workers called it “the Rambo frac” because they needed to attack the formation like Rambo would a POW camp. The well cost is estimated to be $8.5 million–a tad more expensive that others they’ve drilled in the area, but a bargain with those kinds of flow rates. Below is the information we could glean about the “Rambo” well, along with the full update from Chesapeake for 2Q17…
Chesapeake Energy reported second quarter 2017 results last week. As is typical, the company hosted a conference call with analysts to discuss those results. However, Chesapeake CEO Doug “the ax” Lawler had some rather exciting news about the Marcellus to report–late breaking news. In recent weeks Chesapeake has brought online an experimental well drilled in Wyoming County, PA (northeastern part of the state) with an initial production of 61 million cubic feet equivalent per day (MMcfe/d). This is a MONSTER Marcellus well! The most productive onshore shale well we know of is EQT’s Utica well in Greene County, PA, with a 72.9 MMcfe/d IP rate, drilled in July 2015 (see 