Chesapeake Energy Corporation (CHK) issued an operational update for the second quarter of 2010, and included information on its activities in the Haynesville Shale.
Chesapeake Energy has 530,000 net acres under lease in the Haynesville Shale, with proved reserves of 2.9 Tcfe (using the 10 year average strip pricing as of 6/30/2010).
Chesapeake Energy reported average daily net production from the Haynesville Shale of 560 million cubic feet equivalent per day during the second quarter of 2010. This was a 30% sequential increase from the first quarter of 2010, and a 315% year over year increase.
The company reported average daily net production from the Haynesville Shale of 615 million cubic feet equivalent per day during July 2010.
Chesapeake Energy is currently operating 35 rigs in the Haynesville Shale, and will operate an average of 36 rigs in the Haynesville Shale in 2010. The company will drill a total of 175 net wells.
Chesapeake Energy reported three recent well completions in the Haynesville Shale:
The Sloan H-1, located in DeSoto Parish, Louisiana, produced at a peak 24-hour production rate of 22.2 million cubic feet of natural gas per day.
The Brasch Family H-1, located in DeSoto Parish, Louisiana, produced at a peak 24-hour production rate of 22 million cubic feet of natural gas per day.
The Wren H-1, located in DeSoto Parish, Louisiana, produced at a peak 24-hour production rate of 21.6 million cubic feet of natural gas per day.
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