Chesapeake 3Q – Continues to Love Marcellus, Loves Haynesville More

Love is a verb--an action. And actions speak loudly--more loudly than words. Chesapeake Energy issued its third quarter update yesterday. The company is big and getting bigger with each quarter. Chessy produced 4.1 Bcfe/d in 3Q. The company operated an average of 16 rigs in 3Q, drilling 58 wells and placing 50 wells online to production. Chesapeake is currently operating 13 rigs, including five in the Marcellus, two in the Eagle Ford, and six in the Haynesville. The company plans to add a seventh Haynesville rig by the end of November. Actions speak louder than words. The company drills more in the Haynesville, indicating it loves that play more.

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