Friday, August 1, 2008

Chseapeake CHK vs XTO Energy Haynesville Shale

Who would have thought their would be drama in shale plays? A few weeks ago, the XTO Energy CEO on the Conference Call said people who are saying that the Haynesville Shale holds 250 trillion cubic feet of natural gas are hyping this shale play.

Today the Chesapeake CEO gave research data to back this figure up and they stick to what they think is over 240 trillion cubic feet of natural gas in the Haynesville Shale. The CEO says he is not hyping this shale play, rather is going by research.

Chesapeake says the core area in the Haynesville Shale could eventually see up to 50,000 per acre.

Chesapeake Energy says they are producing 45 million cubic feet per day of natural gas from 11 wells.....