Chesapeake Energy Corporation (CHK) issued an operational update for the first quarter of 2010. The company provided extensive commentary on its activities in the Haynesville Shale.
Chesapeake Energy has 530,000 net acres in the Haynesville Shale, with proved reserves of 2.5 Tcfe (using the 10 year average strip pricing). Current daily production from the Haynesville Shale is 510 million cubic feet equivalent per day, and the company has 36 rigs operating in the play.
Chesapeake Energy said that the company would operate an average of 35 rigs in the Haynesville Shale in 2010, and drill a total of 170 net wells. Three recent well completions in the Haynesville Shale were:
The Fuller 8-13-13 H-1, located in DeSoto Parish, Louisiana, produced at a peak 24-hour production rate of 23.7 million cubic feet of natural gas per day.
The Sloan 4-13-13 H-1, located in DeSoto Parish, Louisiana, produced at a peak 24-hour production rate of 21.9 million cubic feet of natural gas per day.
The Pankey 23-14N-15W H-1, located in DeSoto Parish, Louisiana, produced at a peak 24-hour production rate of 18.9 million cubic feet of natural gas per day.
