Haynesville Shale - CHK Chesapeake Energy drilling Update

Just wanted to do a little update on Chesapeake Energy ( CHK ) and where they stand regarding the Haynesville Shale.

As of August 1st, 2008, CHK had 440,000 Haynesville Shale acres from Mineral Leases. Chesapeake Energy had 550,000 acres but sold a 20% stake to PXP Plains Exploration.

Chesapeake is on pace to operate 12 rigs by 2008, 30 rigs by 2009, and up to 60 rigs by the end of 2010. So big growth is expected here!

CHK feels that one day acreage in the Haynesville Shale will be worth $50,000 per acre.

At $42 per share for CHK at this moment, you are basically getting the best Natural Gas shale play ever ( This in my opinion will be the case several years from now ) for FREE