Chesapeake Energy kicked off a new drilling campaign called “Prop-a-geddon” recently to create supersize oil and gas wells that the company estimates can extract oil and gas at roughly 75 percent of the cost of typical wells, according to The Wall Street Journal.

Due to low oil prices over an extended period of time, the challenge for U.S. shale drillers is proving the can profit amid the vast market supply.

Despite being a pioneer of the of the shale boom, Chesapeake is deeply indebted and searching for a way out. Currently, the company is selling assets to get rid of debt and attempting to transition into an oil and gas producer that can eventually turn a profit through efficiency.

This year, Chesapeake plans to spend no more than $1.75 billion to produce between 617,000 and 637,000 barrels per day. The estimate is nearly 90 percent less than it spent in 2012 to produce 648,000 bpd.

Learn more: The Wall Street Journal > Chesapeake Energy Drills Deeper for Profit