Chesapeake Energy CFO Says Co. Will Mostly Ignore Utica in 2017
Chesapeake Energy’s Chief Financial Officer, Domenic Dell’Osso, filled in for his boss CEO Doug “the ax” Lawler by addressing analysts at the Barclays 2016 Global CEO Energy-Power Conference held earlier this week in New York City. Dom, you may recall, was one of Aubrey McClendon’s closest allies at Chesapeake, someone who had no problem standing by while McClendon was unceremoniously fired from the company he founded by corporate raiders in 2013 (see McClendon Exits Chesapeake, Well-Bonused “Friends” Replace Him). Dell’Osso remains in his post to this day. He drew the short straw to take a short vacation in NYC and talk about Chesapeake at the Barclays event. Although Dom’s talk focused on how rosy the picture is for Chesapeake now that they’ve fired thousands and sold nearly everything but the kitchen sink, it was his off-hand comment about the Utica Shale that caught our attention. Chesapeake is the #1 driller and producer in the Ohio Utica Shale, having drilled 588 wells in 2015 and producing an average of 847 million cubic feet per day equivalent of natural gas (see Which 5 Drillers Dominate in the Utica Shale?). What did Dom say about the Utica in 2017?…
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