Utica Shale

Chesapeake Energy Reports Three Utica Shale Completions

Chesapeake Energy (NYSE:CHK) reported production results of three wells recently completed into the Utica Shale in Ohio.  The company has drilled 134 wells to date in the Utica Shale through the end of the third quarter of 2012 and is operating 13 rigs in the play.

Houyouse 15-13-5 8H – 1,735 barrels of oil equivalent (BOE) per day, composed of 465 barrels of oil, 335 barrels of natural gas liquids and 5.6 million cubic feet of natural gas per day.

White 17-13-5 8H – 1,360 BOE per day, composed of 390 barrels of oil, 285 barrels of natural gas liquids and 4.1 million cubic feet of natural gas per day.

Stuart Henderson 11-12-6 1H – 825 BOE per day, composed of 410 barrels of oil, 100 barrels of natural gas liquids and 1.9 million cubic feet of natural gas per day.

Chesapeake Energy has 1.3 million acres of leasehold prospective for the Utica Shale in Ohio.

Utica Shale Permit Update

The Ohio Department of Natural Resources issued fifteen new permits to drill into the Utica Shale, bringing the total number of permits to eighty five (40 horizontal and 45 vertical).

Chesapeake Energy (CHK) continued to lead in the development of the Utica Shale and was issued eight permits. Anadarko Petroleum (APC) received four permits, and Enervest and Beck Energy also were issued permits to drill.

Permits to drill in Ashtabula, Geauga and Muskingum Counties in Ohio were issued for the first time.  Also, the Townships of Richmond, Rose, Parkman, Harrison, Meigs and Brookfield will see Utica Shale drilling for the first time.

Date	County	Township	Type	Operator	Well Name
10/4/2011	Ashtabula	Richmond	V	Chesapeake	Moyer Ash 3
10/4/2011	Belmont	Richland	V	Beck Energy	Hickenbottom 1
10/4/2011	Carroll	Rose	V	Enervest	Ott 2
10/4/2011	Geauga	Parkman	V	Chesapeake	Mast Gea 6
9/30/2011	Carroll	Harrison	V	Enervest	Symes 5
9/30/2011	Muskingum	Meigs	V	Anadarko	FREC Musk Meigs A1
9/30/2011	Muskingum	Meigs	H	Anadarko	FREC Musk Meigs A1H
9/30/2011	Noble	Brookfield	V	Anadarko	Noble Brookfield A1
9/30/2011	Noble	Brookfield	H	Anadarko	Noble Brookfield A1H
9/27/2011	Carroll	Lee	H	Chesapeake	White 17-3-5 10H
9/20/2011	Carroll	Lee	H	Chesapeake	White 17-13-5-8H
9/20/2011	Carroll	Lee	H	Chesapeake	Tanner 24-12-4-10H
9/20/2011	Jefferson	Ross	H	Chesapeake	Asuncion 15-11-3-1H
9/20/2011	Mahoning	Goshen	V	Chesapeake	K Martig 6-17-4-8
9/20/2011	Mahoning	Goshen	H	Chesapeake	K Martig 6-17-4-8H