Wednesday, September 24, 2008

Haynesville Shale - Chespeake Energy ( CHK ) Completes Three New Wells Avg 10MCF/D

The Haynesville Shale is still alive and well! I was getting worried it vanished since we haven't heard much news lately. This most likely has to do with the recent collapse of natural gas prices.

Chesapeake ( CHK ) Completes Three New Haynesville Shale Wells in September with Average per Well Initial Production Rates Exceeding 10 MMcfe per Day.

“Finally, I am also pleased to announce that Chesapeake completed three new horizontal Haynesville Shale wells in September with average initial production rates exceeding 10 mmcfe per day on restricted chokes with high flowing casing pressure. We look forward to initial production commencing from our first PXP joint venture Haynesville Shale well in October and will provide a full update on the Haynesville Shale and other important plays at our Investor and Analyst Meeting in Oklahoma City on October 15 and 16, 2008. This meeting will be webcast so that all investors will be able to learn more about our operations and prospects for future growth.”