Friday, October 30, 2009

Another Chesapeake Operations Update

In advance of its upcoming quarterly earnings call, Chesapeake released some more detailed operating information in addition to its press release last week. You can read it if you're interested, but here are the highlights as it relates to the Haynesville Shale:
  • CHK has 510,000 net acres (about 620,000 gross) and targets approximately 3,700 potential wells
  • The company has completed 137 horizontal wells
  • CHK currently operates 35 rigs, the most it operates in any play (the Marcellus Shale is second with 20)
  • The 2010 plan is to operate about 40 rigs and drill around 190 wells
  • The company is still using a 6.5 Bcfe EUR (estimated ultimate recovery) in its reserve and return calculations.

There is not a whole lot of new information, but looking back I haven't posted much summary data for the company in a while.

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