Chesapeake Energy 3Q14: Utica Production Up 27%, Marcellus Up 1%

The mighty Chesapeake Energy, increasingly a shell of its former self, issued their third quarter 2014 update yesterday. In the update we find that production for Chesapeake in the Utica Shale shot up 27% over the previous year. However, Marcellus production was up just 1%. The cost to complete a well in both the Utica and Marcellus went down year over year. Very interesting (to us) is that although Utica wells are much deeper, they cost Chessy less to drill. They spend $6.5 million on average to drill and complete a Utica Shale well vs. $7 million for their average Marcellus Shale well…

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