Johnson County, Texas: Barnett Shale Update

By Andrea: http://oilshalegas.com

The following companies have begun drilling horizontal wells in Johnson County, TX in the the Barnett Shale this week:

-Chesapeake Operating (CHK): 3 horizontal wells
-Devon Energy Production (DVN)
-EOG Resources (EOG)
-XTO Energy (COH)

For more shale updates, visit: http://blackberrystocks.blogspot.com

For more stock updates, visit: http://daytradingstockblog.blogspot.com

Zavala County, Texas: Eagle Ford Shale

By Andrea: http://oilshalegas.com

Today I researched the Eagle Ford shale in Zavala County, Texas. The following companies are currently operating in Zavala County:

Petrohawk Energy (HK) currently owns 87,000 net acres in the Eagle Ford shale of Zavala County, Texas. They completed the Ranch C #1H well in 2Q 2010 with a production rate of 350 barrels of oil/day. They plan to spud their third well in Zavala County by the end of 2010.

Crimson Exploration (CXPO) owns a 95% working interest in roughly 4,600 gross acres in southeast Zavala County, Texas. Activity has increased greatly in the Eagle Ford Shale in the oil corridor of the play for Crimson. They are in the process of reviewing the area for potential late 2010 or early 2011 drilling activity.


Chesapeake Energy Corp. (CHK) has increased its acreage position in the Eagle Ford Shale to 550,000 net acres, an increase of 150,000 net acres from the first quarter of 2010. Chesapeake Energy has drilled and completed 7 gross wells to date on its acreage in the Eagle Ford Shale, and estimates that it will operate an average of 5 rigs during 2010. Their most recent well completed in Zavala County, the Traylor North 1H, produced 300,000 cubic feet of natural gas per day and approximately 930 barrels of oil per day.

Doxa Energy currently operates on 1,138 net acres in Zavala County, Texas in the Eagle Ford shale. They plan to spud their first well by Q3 2011.

For more shale updates, visit: http://blackberrystocks.blogspot.com

For more stock updates, visit: http://daytradingstockblog.blogspot.com

Carl Icahn Buys More Chesapeake Energy (CHK) stock

By Andrea: http://oilshalegas.com

August 16, 2010: Carl Icahn increased his number of shares in Chesapeake Energy today from 2.1 million shares to 12.7 million shares. Current market price is around $21/share for Chesapeake Energy. Carl Icahn's new shares cost him approximately $240,000,000 with the new shares. Carl Icahn also bought Anadarko Petroleum (APC) and NRG Energy Inc. (NRG).

Chesapeake Energy has leading positions in the Eagle Ford shale, Haynesville shale and Marcellus shale

For more shale updates, visit: http://blackberrystocks.blogspot.com

For more stock updates, visit: http://daytradingstockblog.blogspot.com

Chesapeake Energy Corp (CHK): Avalon Shale update

By Andrea: http://oilshalegas.com

Chesapeake Energy Corp. (CHK) has drilled 8 wells to date in the Avalon shale on their 120,000 net acres across Texas and New Mexico. They predict that each well in the Avalon shale can produce 350 MBOE with an unrisked resource of 200 MMBOE. Chesapeake anticipates operating an average of roughly six rigs in the Permian Basin unconventional liquid plays by the end of 2010 and plans to drill approximately 50 net wells.

For more shale updates, visit: http://blackberrystocks.blogspot.com

For more stock updates, visit: http://daytradingstockblog.blogspot.com

Top Company in Niobrara Shale

By Andrea: http://oilshalegas.com

Chesapeake Energy Corp. (CHK) announced in their 2Q 2010 Earnings call that they now own the largest leasehold in the Niobrara Shale. They have a total of 675,000 net acres in the Niobrara Shale.

For more Shale updates, visit http://blackberrystocks.blogspot.com/

For more stock market news, visit http://daytradingstockblog.blogspot.com

Top Company in Eagle Ford Shale

By Andrea: http://oilshalegas.com

Chesapeake Energy Corp. (CHK) announced in their 2Q 2010 Earnings call that they now own the largest leasehold in the Eagle Ford Shale. They have a total of 550,000 net acres in the Eagle Ford Shale.

For more Shale updates, visit http://blackberrystocks.blogspot.com/

For more stock market news, visit http://daytradingstockblog.blogspot.com

Chesapeake Energy ( CHK ) News 10/10/08

Chesapeake Energy ( CHK ) just came out with major news that is sending its stock soaring in afterhours trading tonight.

Dow Jones is reporting:

• Chesapeake In Talks With 'Multiple Parties' On Midstream Ops Stake
• Chesapeake Energy CEO Involuntarily Sells All Shrs To Meet Margin Loan Calls
• Chesapeake: Further Cuts To 4Q CapEx Are Underway >CHK
• Chesapeake Energy ( CHK ) sells Marcellus Stake for 2.5- 3 Billion.

So Aubry got flushed out.....and now you can see why the stock got murdered over the past three weeks with the addition of Hedge Fund Selling.

Chesapeake Energy ( CHK ) completes Woodford Shale sale ( BP )

This morning Chesapeake Energy ( CHK ) is out saying they have completed their asset sale in the Woodford Shale. CHK received 1.7 Billion dollars in cash from Beyond Petroleum ( BP )

Aubrey K. McClendon, Chesapeake’s Chief Executive Officer, commented, “We are pleased to announce the completion of the sale of our Arkoma Woodford properties to BP. This transaction was an important aspect of our ongoing asset monetization program and enables Chesapeake to redeploy capital to our Haynesville, Barnett and Marcellus Shale plays and further improves the company’s capital structure.
“We now turn our focus to negotiating joint venture arrangements in the Fayetteville and Marcellus Shale plays. We anticipate selling 25% of our interest in those two plays using a “PXP-style” transaction in which we receive partial consideration in cash at closing and then receive a tax-efficient carry of development costs over time as wells are drilled. There is strong industry interest in both plays and also in our preferred deal structure. Accordingly, we hope to announce transaction details by the end of the third quarter.”