Chesapeake reaches record gas production

Oct. 23, 2009 at 12:35 PM   |   0 comments

OKLAHOMA CITY, Oct. 23 (UPI) -- Natural gas explorer Chesapeake Energy Corp. announced it reached record production rates in four of its gas shale operations in the United States.

Chesapeake is active in the development of gas shale deposits in North America. Gross daily production of Barnett Shale, shale deposits in Texas, passed 1 billion cubic feet of natural gas from an 18,000-acre acquisition.

In the Haynesville Shale, formations in Louisiana and East Texas, Chesapeake reached a daily production rate of 500 million cubic feet per day from 125 wells, which the company said is 20 percent of the number needed to reach the same level in Barnett Shale.

Daily production levels from Fayetteville Shale, deposits in Arkansas, passed 400 million cubic feet per day from roughly 450 wells operated by Chesapeake.

In the Marcellus Shale, deposits in the Appalachian Basin, gross daily production for Chesapeake reached 100 million cubic feet from approximately 60 wells.

"We are pleased to announce that Chesapeake has set company records and reached significant production milestones in all four of our Big 4 shale plays," said Chesapeake Chief Executive Officer Aubrey McClendon.

Chesapeake said it has become the second-largest producer of natural gas in the United States in less than five years.

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