Chesapeake Energy (CHK) is the largest operator in the Utica Shale and has 1.3 million acres under lease. The company is operating 10 rigs and plans to average 13 rigs in 2012 and 22 rigs in 2013.
Chesapeake Energy has drilled 59 wells into the Utica Shale:
Producing – 9 wells
Undergoing completion – 15 wells
Waiting for completion – 15 wells
Waiting on Pipeline – 20 wells
Chesapeake Energy’s most productive Utica Shale well is the Buell 8H well in Harrison County, Ohio, which produced at a peak rate above 3,000 barrels of oil equivalent (BOE) per day in September 2011. The company estimates that the Buell 8H well will have an estimated ultimate recovery (EUR) of 575,000 barrels of liquids and 13 bcf of natural gas.