Chesapeake Energy issued its 2Q22 update on Tuesday and held a conference call with analysts yesterday. The big news is that Chesapeake has come full circle, back to its natural gas roots. Chessy CEO Nick Dell’Osso said the company will focus more on drilling for natural gas in both the Marcellus and Haynesville shale plays, and less on drilling in the company’s oil-focused Eagle Ford play. In fact, Chesapeake now views the Eagle Ford as “non-core” and will (soon) stop investing in drilling new wells there. Our take is that you can look for a sale of the EF assets soon.
Chesapeake Energy issued its 2Q22 update on Tuesday and held a conference call with analysts yesterday. The big news is that Chesapeake has come full circle, back to its natural gas roots. Chessy CEO Nick Dell’Osso said the company will focus more on drilling for natural gas in both the Marcellus and Haynesville shale plays, and less on drilling in the company’s oil-focused Eagle Ford play. In fact, Chesapeake now views the Eagle Ford as “non-core” and will (soon) stop investing in drilling new wells there. Our take is that you can look for a sale of the EF assets soon.