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.
Barnett Shale gas well deals get more lucrative
Dallas Morning News, TX - 2 hours ago
And drilling is expected to escalate as activity in the massive underground Barnett Shale gas field moves farther south and east, particularly into …
Neighbors drive up gas deal prices Houston Chronicle
all 21 news articles »
Chesapeake Energy reports record earnings, production
Fort Worth Business Press, TX - 22 minutes ago
McClendon said the company’s about 260000 net acres of Barnett Shale property continue to look “attractive and increasingly more valuable,” adding the …CHK
BARNETT SHALE RIG REPORT
Fort Worth Star Telegram, TX - May 4, 2008
New drilling rigs operating in the Barnett Shale natural gas field for the week ended Friday. Chesapeake Operating, Oklahoma City: horizontal off …
Many firms interested in local natural gas rights
Citizens Voice, PA - 3 hours ago
The privately held company accumulated 200000 leased acres of Barnett Shale and had 250 wells producing 100 million cubic feet per day. …
Playing the Haynesville Shale
Shreveport Times, LA - May 4, 2008
By comparison, Chesapeake at the end of 2007 reported proved reserves in the Barnett Shale at just over 2 trillion cubic feet, which until now gives it the …