Chesapeake focuses on well completions in Utica, Marcellus regions
Wednesday, February 22, 2017
Last week Chesapeake Energy Corp. announced a refocused strategy for 2017. Rather than drilling new wells in the Appalachia basin, the company will invest in completing existing natural gas wells.
According to The Business Journal, the company projects natural gas production to be stagnant through 2017, seeing volume increases in 2018.
In 2017, Chesapeake plans to increase its total number of rigs by 10 across its holdings, operating an average of 17. It will also spud and place 400 and 450 wells, respectively, into production, which is up from 213 and 428 in 2016.
Learn more: The Business Journal > Chesapeake to focus on Utica well completion
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