Chesapeake’s New Utica Shale Wells Producing “Very Strong”

Yesterday, Chesapeake Energy reported initial horizontal well drilling results in the wet gas and dry gas phases of the Utica Shale play in eastern Ohio and western Pennsylvania and CEO Aubrey McClendon said the early results are “very strong.”

Chesapeake says they currently have five drilling rigs in the Utica Shale play and will double that to ten by the end of this year. Further, they plan to have 20 rigs running by the end of 2012, and up to 40 drilling rigs running in the Utica Shale by the end of 2014—truly a massive buildup.

From the Chesapeake press release:

To view this content, log into your member account. (Not a member? Join Today!)