Chesapeake: Significant increase seen in Utica production
Wednesday, August 13, 2014
Chesapeake Energy’s second quarter production was 373% higher than it was for 2013’s second quarter, as reported by The Business Journal.
Throughout the second quarter, Chesapeake had eight rigs and 48 wells in the Utica shale. In the Marcellus shale, the company increased production by 12% in the northern tier and by 67% in the southern tier. Due to the company’s higher rates of production, the cryogenic plant in Kensington, Ohio has been able to increase its capacity.
From The Business Journal:
“‘This incremental capacity will enable the company to connect more Utica wells to sales during the 2014 second half and begin to reduce its inventory of non-producing wells to a more normalized working level,’ the company said.”
Via: The Business Journal > Chesapeake production up, third phase at Kensington
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