Barnett Shale Chesapeake
Chesapeake is currently utilizing four rigs to further develop its leasehold of approximately 60,000 net acres in the Colony Granite Wash play that the company believes will accommodate the drilling of approximately 250 additional net horizontal wells over time. The company believes its current leasehold of approximately 75,000 net acres will accommodate the drilling of approximately 400 additional net horizontal wells over time. Chesapeake has also committed to more than $1 billion in 2007 for additional capital expenditures, as well as millions in community sponsorships, scholarships and neighborhood improvement programs. According to noted economist Ray Perryman, the Barnett Shale is now responsible for more than 55,000 permanent jobs and $5.2 billion in annual output - and the numbers continue to grow. Chesapeake said it will spend an additional $275 million in 2008 and $675 million in 2009. That spending may be funded through public capital markets instead of the financial markets due to the current economic environment, according to the company.
Chesapeake, with revenues in the billions last year, plans to spend $100 million and will devote three rigs full time to drill 45 to 50 wells around Johnson County in 2005. In addition to expansion, Chesapeake hopes to increase the existing wells’ daily production of 25 million cubic feet to 86 million cubic feet by 2006. Chesapeake claims to have them all, and, thus far, he concedes, nobody’s proven them wrong.
The latest online news headlines about Barnett Shale Chesapeake:
Chesapeake agrees to buy Pier 1 Imports building in Fort Worth
Houston Chronicle, United States - 7 hours ago
Chesapeake has about 800 Barnett Shale wells in Tarrant, Johnson and Dallas counties. “We had three goals in mind: recouping our investment, …
Chesapeake buys tower to house shale unit [1 hr ago] NewsOK.com (subscription)
Chesapeake’s big move Fort Worth Star Telegram
Chesapeake Energy to buy Pier 1 building Bizjournals.com
Fort Worth Star Telegram - Dallas Morning News
all 64 news articles » CHK - PIR
Chesapeake increases Barnett Shale
Fort Worth Business Press, TX - Mar 30, 2008
“The Haynesville play could be larger than even the Barnett Shale or the Fayetteville shale plays,” said Aubrey McClendon, CEO of Chesapeake, …CHK
United Way creates Barnett Shale Endowment
Fort Worth Business Press, TX - Mar 30, 2008
BY ROBERT FRANCIS United Way of Tarrant County announced March 26 that Chesapeake Energy Corp. is the founding member of the newly created Barnett Shale …
BARNETT SHALE RIG REPORT Fort Worth Star Telegram
Economist: Boom better than expected Cleburne Times-Review
Barnett Shale Expo drills into the hearts and minds of the public Pegasus News
Fort Worth Star Telegram
all 6 news articles » CHK
Chesapeake Announces Haynesville Shale Discovery and Seven Other …
WELT ONLINE, Germany - Mar 24, 2008
Chesapeake Increases Drilling and Leasehold Acquisition Activities in the Fort Worth Barnett Shale, Fayetteville Shale, Marcellus Shale and Lower Huron …CHK - BOM:500312
Devon: This One Goes to Eleven
Motley Fool - Mar 31, 2008
Devon is the doyen of the Barnett Shale. The company (and its acquirees) got into the Fort Worth-area play early, acquiring vast acreage well before the …DVN - XTO
United Way, YMCA reap benefits of the Barnett Shale boom
Fort Worth Star Telegram, TX - Mar 28, 2008
FORT WORTH — As energy companies rake in the cash from the Barnett Shale boom, they’re making names for themselves as philanthropists. Chesapeake Energy …
Chesapeake Energy Corporation Announces Pricing of Common Stock …
Centre Daily Times, PA - Mar 31, 2008
… developmental drilling and corporate and property acquisitions in the Mid-Continent, Fort Worth Barnett Shale, Fayetteville Shale, Haynesville Shale, …CHK
Opening Your Energy Mailbag
Motley Fool - Mar 28, 2008
“Carbonates” clearly is a man after my own heart, given his positive feelings about Chesapeake Energy (NYSE: CHK) and its Barnett Shale successes: The …
Chesapeake Bags Another Big One
Motley Fool - Mar 25, 2008
On Monday, Chesapeake Energy (NYSE: CHK) broke the news that not only will it speed up the pace of drilling on its successful Barnett Shale and Fayetteville …CHK
Gas drilling hits northwest Dallas suburbs
McKinney Courier Gazette, TX - Mar 28, 2008
The Barnett shale, as the area is called, includes about 17 counties in North and Central Texas that shelter the natural gas deep in the rocks below, …
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Tags: Barnett Shale, chesapeake energy
