By Tim - http://oilshalegas.com
The Tuscaloosa Marine Shale has been hitting the news lately on some nice oil wells being drilled. The Tuscaloosa Marine Shale is located in south Louisiana and Mississippi.
Showing posts with label Chesapeake Energy Corp. (CHK). Show all posts
Showing posts with label Chesapeake Energy Corp. (CHK). Show all posts
Tuesday, November 8, 2011
Chesapeake Energy (CHK) -Tuscaloosa Marine Shale
Tuesday, August 2, 2011
Chevron (CVX) Utica Shale - Oil & Gas Update
By Tim - http://oilshalegas.com
Chevron Corporation (NYSE:CVX) recently updated investors on It's Utica Shale prospective acreage. Chevron (CVX) has a large position in the Utica Shale but has not started drilling yet.
Evan Calio - Morgan Stanley
Okay. And a second question for George and maybe more pointed than Paul's. I mean, clearly, excitement's been building on the Utica shale opportunity. And then something that's a bit of a focus this morning with Chesapeake's release and conference call. I know and I believe Chevron has 600,000 acres that you disclosed that has Utica oil shale exposure. But you didn't call that out in Slide 17. Maybe you could discuss how you're thinking about activity there and play potential into 2012?
George Kirkland
Okay. Well, let me first say we believe it's a little bit too soon to conclude on the potential of the Utica. We've got a good acreage position in the Utica from the Atlas acquisition. We're going to do what we do everywhere in the world. We're going to evaluate that. And the only the way we can evaluate it is we're going to have to drill some wells and test performance. So it's something for the future, but it's, like you say, too early at this point in time to, I think, hype it.
The Utica Shale holds both Oil & Natural Gas and extends down from Canada into the states of New York, Pennsylvania, Ohio, and West Virginia. Chesapeake Energy (CHK) recently announced a major oil discovery in the Utica Shale Field and is excited about the prospects in Ohio. Could Utica Shale be as big as the Eagle Ford Shale? Only time will tell!
http://oilshalegas.com/uticashale.html
Chevron Corporation (NYSE:CVX) recently updated investors on It's Utica Shale prospective acreage. Chevron (CVX) has a large position in the Utica Shale but has not started drilling yet.
Evan Calio - Morgan Stanley
Okay. And a second question for George and maybe more pointed than Paul's. I mean, clearly, excitement's been building on the Utica shale opportunity. And then something that's a bit of a focus this morning with Chesapeake's release and conference call. I know and I believe Chevron has 600,000 acres that you disclosed that has Utica oil shale exposure. But you didn't call that out in Slide 17. Maybe you could discuss how you're thinking about activity there and play potential into 2012?
George Kirkland
Okay. Well, let me first say we believe it's a little bit too soon to conclude on the potential of the Utica. We've got a good acreage position in the Utica from the Atlas acquisition. We're going to do what we do everywhere in the world. We're going to evaluate that. And the only the way we can evaluate it is we're going to have to drill some wells and test performance. So it's something for the future, but it's, like you say, too early at this point in time to, I think, hype it.
The Utica Shale holds both Oil & Natural Gas and extends down from Canada into the states of New York, Pennsylvania, Ohio, and West Virginia. Chesapeake Energy (CHK) recently announced a major oil discovery in the Utica Shale Field and is excited about the prospects in Ohio. Could Utica Shale be as big as the Eagle Ford Shale? Only time will tell!
http://oilshalegas.com/uticashale.html
Wednesday, December 22, 2010
Enterprise Product Partners (EPD) and Chesapeake Energy Corp (CHK): Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Enterprise Products Partners L.P. (EPD) recently announced that they recently entered into a 10-year agreement with Chesapeake Energy Corp. (CHK) to handle a large portion of their natural gas production in the Eagle Ford Shale:
Chesapeake's gross acreage position currently comprises more than 625,000 acres in and around the oil and natural gas liquids - rich areas of the Eagle Ford Shale across Dimmit, LaSalle, McMullen, Webb, and Zavala counties located in South Texas. The agreements provide Chesapeake with a comprehensive package of midstream natural gas and NGL services, including firm commitments for gas transportation, processing, and NGL transportation and fractionation services.
"We are extremely pleased with our new agreements with Chesapeake, which represent one of the largest single producer commitments to date for Enterprise in the Eagle Ford Shale," said Michael A. Creel, Enterprise's president and chief executive officer. "The deal with Chesapeake marks the fifth major midstream transaction Enterprise has executed with Eagle Ford Shale producers in the past year, reflecting the strategic importance of our integrated and expanding assets serving the various demands of producers in the prolific region."
Enterprise has previously announced long-term commitments with Petrohawk, EOG, Anadarko and Pioneer.
Chesapeake's NGL-rich natural gas will initially be gathered and compressed by Chesapeake affiliate, Chesapeake Midstream Development, LLC, for delivery to a central location. Enterprise will then transport and process the NGL-rich gas at its existing facilities while a previously announced natural gas processing plant that is currently under development in Texas is completed. This cryogenic processing facility, expected to be completed early in 2012, is designed for an initial capacity of 600 million cubic feet per day (MMcf/d) and with an initial capability to extract as many as 75,000 barrels per day (BPD) of NGLs.
The NGL production from Chesapeake's gas will ultimately be transported on Enterprise's previously announced 127-mile NGL pipeline that will extend from the new gas processing plant to Enterprise's NGL fractionation complex in Mont Belvieu, Texas. This new NGL pipeline, also scheduled for completion in early 2012, is expected to have an initial capacity of more than 85,000 BPD and would be readily expandable to over 120,000 BPD.
Activity in the Eagle Ford Shale continues to increase as approximately 115 rigs working in the play have drilled more than 330 wells completed to date. Total current production from the play is estimated at approximately 425 MMcf/d of natural gas and 35,000 BPD of crude oil and condensate.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Enterprise Products Partners L.P. (EPD) recently announced that they recently entered into a 10-year agreement with Chesapeake Energy Corp. (CHK) to handle a large portion of their natural gas production in the Eagle Ford Shale:
Chesapeake's gross acreage position currently comprises more than 625,000 acres in and around the oil and natural gas liquids - rich areas of the Eagle Ford Shale across Dimmit, LaSalle, McMullen, Webb, and Zavala counties located in South Texas. The agreements provide Chesapeake with a comprehensive package of midstream natural gas and NGL services, including firm commitments for gas transportation, processing, and NGL transportation and fractionation services.
"We are extremely pleased with our new agreements with Chesapeake, which represent one of the largest single producer commitments to date for Enterprise in the Eagle Ford Shale," said Michael A. Creel, Enterprise's president and chief executive officer. "The deal with Chesapeake marks the fifth major midstream transaction Enterprise has executed with Eagle Ford Shale producers in the past year, reflecting the strategic importance of our integrated and expanding assets serving the various demands of producers in the prolific region."
Enterprise has previously announced long-term commitments with Petrohawk, EOG, Anadarko and Pioneer.
Chesapeake's NGL-rich natural gas will initially be gathered and compressed by Chesapeake affiliate, Chesapeake Midstream Development, LLC, for delivery to a central location. Enterprise will then transport and process the NGL-rich gas at its existing facilities while a previously announced natural gas processing plant that is currently under development in Texas is completed. This cryogenic processing facility, expected to be completed early in 2012, is designed for an initial capacity of 600 million cubic feet per day (MMcf/d) and with an initial capability to extract as many as 75,000 barrels per day (BPD) of NGLs.
The NGL production from Chesapeake's gas will ultimately be transported on Enterprise's previously announced 127-mile NGL pipeline that will extend from the new gas processing plant to Enterprise's NGL fractionation complex in Mont Belvieu, Texas. This new NGL pipeline, also scheduled for completion in early 2012, is expected to have an initial capacity of more than 85,000 BPD and would be readily expandable to over 120,000 BPD.
Activity in the Eagle Ford Shale continues to increase as approximately 115 rigs working in the play have drilled more than 330 wells completed to date. Total current production from the play is estimated at approximately 425 MMcf/d of natural gas and 35,000 BPD of crude oil and condensate.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Tuesday, September 28, 2010
Goshen County - Niobrara Shale Update
By Andrea: http://oilshalegas.com
Samson Oil and Gas (SSN) recently announced the closing of its Goshen County Assets located in the Niobrara Shale. The company expects to receive a total of $74.1 million at the end of the total sale:
Samson Oil & Gas Limited (SSN) advises that it has closed an additional portion of its previously announced Goshen County transaction, confirming that an additional US$6.3 million was received this week in consideration for delivery of drilling permits for three State leases.
Samson presently expects to close the final portion of the sales transaction during the week of September 27th. Samson anticipates receiving net consideration of at least US$2.2 million at that closing and considers it likely that it will receive another US$ 1.9 million as a result of curing various title defects. Thus, the total transaction to date can be summarized as follows:
Cash received to date: US$ 70.0 million
Most likely cash to be received the week of September 27th US$ 4.1 million
Most likely total consideration US$ 74.1 million
Under the sale and purchase contract that Samson entered into on June 24th with the buyer, Chesapeake Energy Corporation, Chesapeake acquired 100% of Samson’s working interest in the subject leases but Samson has retained a royalty averaging 3.8% across those leases. While Samson therefore holds an indirect financial interest in the future development of the leases, Samson has no control over the pace or scope of that development. The royalty rate has changed from that previously announced because during the course of this transaction several top leases and lease extensions have been purchased or entered into, and the underlying royalty rates have modified the Samson-retained royalty.
Samson has also retained 17,000 net acres immediately to the north of the leases that have been sold and intends to pursue the appraisal and development of that area. To this end it has engaged a seismic acquisition company to acquire a 65.5-square-mile 3-D seismic survey, which will image this acreage block. Permitting for this seismic survey has commenced and it is expected that the acquisition will commence mid-late October. The survey has several objectives. Firstly, it will help Samson to identify the brittle portions of the Niobrara Formation that are more conducive to natural fracturing as well as the location and orientation of the natural fractures. Secondly, the 3-D seismic data will help image two conventional targets, the J Sand and the Codell Formation which have proven to be productive in the area.
The 3-D seismic data is expected to be available for interpretation in the first quarter of 2011 and the plan is to drill two initial appraisal wells utilizing horizontal multi-stage fracture stimulation methods proven successful in the Bakken Formation in North Dakota. If these wells perform adequately then the project would move to a full field development.
Samson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN". Samson's American Depository Shares (ADSs) are traded on the New York Stock Exchange AMEX under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,663 million ordinary shares issued and outstanding, which would be the equivalent of 83.15 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$1.39 per ADS on September 21st, 2010 the company has a current market capitalization of approximately US$115.6 million. Correspondingly, based on the ASX closing price of A$0.07 on September 21st, 2010, the company has a current market capitalization of A$ 116.4 million.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Samson Oil and Gas (SSN) recently announced the closing of its Goshen County Assets located in the Niobrara Shale. The company expects to receive a total of $74.1 million at the end of the total sale:
Samson Oil & Gas Limited (SSN) advises that it has closed an additional portion of its previously announced Goshen County transaction, confirming that an additional US$6.3 million was received this week in consideration for delivery of drilling permits for three State leases.
Samson presently expects to close the final portion of the sales transaction during the week of September 27th. Samson anticipates receiving net consideration of at least US$2.2 million at that closing and considers it likely that it will receive another US$ 1.9 million as a result of curing various title defects. Thus, the total transaction to date can be summarized as follows:
Cash received to date: US$ 70.0 million
Most likely cash to be received the week of September 27th US$ 4.1 million
Most likely total consideration US$ 74.1 million
Under the sale and purchase contract that Samson entered into on June 24th with the buyer, Chesapeake Energy Corporation, Chesapeake acquired 100% of Samson’s working interest in the subject leases but Samson has retained a royalty averaging 3.8% across those leases. While Samson therefore holds an indirect financial interest in the future development of the leases, Samson has no control over the pace or scope of that development. The royalty rate has changed from that previously announced because during the course of this transaction several top leases and lease extensions have been purchased or entered into, and the underlying royalty rates have modified the Samson-retained royalty.
Samson has also retained 17,000 net acres immediately to the north of the leases that have been sold and intends to pursue the appraisal and development of that area. To this end it has engaged a seismic acquisition company to acquire a 65.5-square-mile 3-D seismic survey, which will image this acreage block. Permitting for this seismic survey has commenced and it is expected that the acquisition will commence mid-late October. The survey has several objectives. Firstly, it will help Samson to identify the brittle portions of the Niobrara Formation that are more conducive to natural fracturing as well as the location and orientation of the natural fractures. Secondly, the 3-D seismic data will help image two conventional targets, the J Sand and the Codell Formation which have proven to be productive in the area.
The 3-D seismic data is expected to be available for interpretation in the first quarter of 2011 and the plan is to drill two initial appraisal wells utilizing horizontal multi-stage fracture stimulation methods proven successful in the Bakken Formation in North Dakota. If these wells perform adequately then the project would move to a full field development.
Samson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN". Samson's American Depository Shares (ADSs) are traded on the New York Stock Exchange AMEX under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,663 million ordinary shares issued and outstanding, which would be the equivalent of 83.15 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$1.39 per ADS on September 21st, 2010 the company has a current market capitalization of approximately US$115.6 million. Correspondingly, based on the ASX closing price of A$0.07 on September 21st, 2010, the company has a current market capitalization of A$ 116.4 million.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, August 19, 2010
Marcellus Shale Job Opportunities: Chesapeake Energy (CHK)
By Andrea: http://oilshalegas.com
The Intelligencer: Wheeling New Register of Wheeling, West Virginia released a heartbreaking article this morning, however; bittersweet in it's own nature.
The Intelligencer: Wheeling New Register of Wheeling, West Virginia released a heartbreaking article this morning, however; bittersweet in it's own nature.
Chesapeake Energy Corp. (CHK) launched a hiring spree in New Martinsville, WV on Wednesday, August 18. The turnout for the chance of a job, was hundreds. People lined up and waited for up to 3 hours for the chance of an interview and the possible hope for a job. As interest in the natural oil and gas industry rises, companies like Chesapeake are one of the few industries who are in need of employees. The interviewees were filed through the interview process much like an assembly line where they were first screened at the door and then thrown into one of four categories based on experience and skill level.
Two men who were looking for the chance at the appealing prospect of a steady job, Eric Westbrook and Shawn Long were thankful Chesapeake was in the area stating that "(the gas industry) is the only thing that is here", as far as jobs are concerned. Both men have been working contracting jobs without the promise of hours every week and without health insurance. While Chesapeake Energy has the means to hire and is giving towns like Martinsville, WV who have been struck hard by the economic downturn some hope, a line of hundreds looking for a job at a single company is an upsetting reminder that the U.S. is far from recovery of an economic crisis.
For more details and full story: http://www.theintelligencer.net/page/content.detail/id/540871.html?nav=515
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstock blog.blogspot.com
Two men who were looking for the chance at the appealing prospect of a steady job, Eric Westbrook and Shawn Long were thankful Chesapeake was in the area stating that "(the gas industry) is the only thing that is here", as far as jobs are concerned. Both men have been working contracting jobs without the promise of hours every week and without health insurance. While Chesapeake Energy has the means to hire and is giving towns like Martinsville, WV who have been struck hard by the economic downturn some hope, a line of hundreds looking for a job at a single company is an upsetting reminder that the U.S. is far from recovery of an economic crisis.
For more details and full story: http://www.theintelligencer.net/page/content.detail/id/540871.html?nav=515
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstock blog.blogspot.com
Wednesday, August 18, 2010
DeSoto Parish, LA: Top Haynesville Shale Wells
By Andrea: http://oilshalegas.com
According to a press release for Mexco Energy, not only has the Haynesville shale area been estimated to become the largest gas resource in the U.S. and the fourth largest in the world, DeSoto Parish, Louisiana has been recognized as one of the top six parishes in Louisiana where the most productive Haynesville wells are located. Among the companies operating in DeSoto Parish, LA, are Chesapeake Energy Corp. (CHK), Petrohawk Energy Corp. (HK) and Mexco Energy (MXC).
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxcTR4Yj
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
According to a press release for Mexco Energy, not only has the Haynesville shale area been estimated to become the largest gas resource in the U.S. and the fourth largest in the world, DeSoto Parish, Louisiana has been recognized as one of the top six parishes in Louisiana where the most productive Haynesville wells are located. Among the companies operating in DeSoto Parish, LA, are Chesapeake Energy Corp. (CHK), Petrohawk Energy Corp. (HK) and Mexco Energy (MXC).
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxcTR4Yj
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
DeSoto Parish, LA: Haynesville Shale
By Andrea: http://oilshalegas.com
Mexco Energy Corp. (MXC) announced that they are purchasing 5,120 acres in the Haynesville shale area of DeSoto Parish, LA. Among the operating companies on the land, include Petrohawk Energy Corp. (HK) and Chesapeake Energy Corp. (CHK). In addition to the 5 horizontal wells already operating on the land, there is an estimate of 59 addition drill sites. Press release below:
Mexco Energy Corporation (MXC) announced the purchase of overriding royalty interests in 5,120 gross acres covering eight sections in the Haynesville trend area of DeSoto Parish, Louisiana, for an approximate purchase price of $1.65 million, prior to closing adjustments. Mexco paid $1.46 million in cash and 26,833 shares of its Common Stock. The Company funded the cash portion of the purchase from working capital and primarily from its $5.0 million credit facility. The stock was issued from Mexco's treasury shares.
This acreage currently contains five (5) horizontal wells producing from the Haynesville Shale formation and operated by Petrohawk Operating Company which will operate six of the eight sections. The two remaining sections will be operated by Chesapeake Energy. The Company owns average overriding royalty interests of approximately .28%.
These 5,120 acres contain an additional 59 potential drill sites in the Haynesville Shale. Other wells drilled in the Haynesville area show the presence of at least two (2) other potential producing zones, the Bossier and Cotton Valley, which are held by production and available for development should conditions warrant. Hundreds of Haynesville, hundreds of Cotton Valley and several dozen Bossier Shale wells are currently producing in the Haynesville trend area. The development of these royalties is free to Mexco of expenses for drilling, development and operations.
The Haynesville area has been estimated to become the largest gas resource in the United States and the fourth largest in the world subject to realization of technical estimates, according to World Oil in its June 2010 edition. World Oil recognizes DeSoto Parish as one of the top six (6) parishes of Louisiana where the most productive Haynesville wells are located.
"This acquisition represents a significant addition of the natural gas reserves for Mexco and future development potential," said Nicholas C. Taylor, President and CEO of Mexco
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxXZBHCY
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Mexco Energy Corp. (MXC) announced that they are purchasing 5,120 acres in the Haynesville shale area of DeSoto Parish, LA. Among the operating companies on the land, include Petrohawk Energy Corp. (HK) and Chesapeake Energy Corp. (CHK). In addition to the 5 horizontal wells already operating on the land, there is an estimate of 59 addition drill sites. Press release below:
Mexco Energy Corporation (MXC) announced the purchase of overriding royalty interests in 5,120 gross acres covering eight sections in the Haynesville trend area of DeSoto Parish, Louisiana, for an approximate purchase price of $1.65 million, prior to closing adjustments. Mexco paid $1.46 million in cash and 26,833 shares of its Common Stock. The Company funded the cash portion of the purchase from working capital and primarily from its $5.0 million credit facility. The stock was issued from Mexco's treasury shares.
This acreage currently contains five (5) horizontal wells producing from the Haynesville Shale formation and operated by Petrohawk Operating Company which will operate six of the eight sections. The two remaining sections will be operated by Chesapeake Energy. The Company owns average overriding royalty interests of approximately .28%.
These 5,120 acres contain an additional 59 potential drill sites in the Haynesville Shale. Other wells drilled in the Haynesville area show the presence of at least two (2) other potential producing zones, the Bossier and Cotton Valley, which are held by production and available for development should conditions warrant. Hundreds of Haynesville, hundreds of Cotton Valley and several dozen Bossier Shale wells are currently producing in the Haynesville trend area. The development of these royalties is free to Mexco of expenses for drilling, development and operations.
The Haynesville area has been estimated to become the largest gas resource in the United States and the fourth largest in the world subject to realization of technical estimates, according to World Oil in its June 2010 edition. World Oil recognizes DeSoto Parish as one of the top six (6) parishes of Louisiana where the most productive Haynesville wells are located.
"This acquisition represents a significant addition of the natural gas reserves for Mexco and future development potential," said Nicholas C. Taylor, President and CEO of Mexco
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxXZBHCY
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Monday, August 16, 2010
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
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
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
Wednesday, August 11, 2010
Chesapeake Energy Corp. (CHK): Jim Cramer Opinion
By Andrea: http://oilshalegas.com
August 11, 2010: Jim Cramer featured Chesapeake Energy Corp. (CHK) last night on Mad Money and is convinced that the stock is a strong buy. With Chesapeake's recent 2010 Q2 earnings report and announcement that they own the largest acreage in both the Eagle Ford Shale and the Niobrara, they may have finally carved out a bottom according to Cramer. Cramer rallies for the stock based on Chesapeake's recent debt deal they completed in addition to the 14% production increase they noted in their 2010 2Q earnings call. However; the stock is not getting the attention it deserves, says Cramer. After its huge fall in the past few months, investors are afraid to touch the stock. Cramer takes us to the charts and points out the "W" in the stock's trend, a series of higher lows over a period of time. Cramer may be ready to regain his credibility when it comes to Chesapeake Energy:
For more shale updates, visit: http://blackberystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
August 11, 2010: Jim Cramer featured Chesapeake Energy Corp. (CHK) last night on Mad Money and is convinced that the stock is a strong buy. With Chesapeake's recent 2010 Q2 earnings report and announcement that they own the largest acreage in both the Eagle Ford Shale and the Niobrara, they may have finally carved out a bottom according to Cramer. Cramer rallies for the stock based on Chesapeake's recent debt deal they completed in addition to the 14% production increase they noted in their 2010 2Q earnings call. However; the stock is not getting the attention it deserves, says Cramer. After its huge fall in the past few months, investors are afraid to touch the stock. Cramer takes us to the charts and points out the "W" in the stock's trend, a series of higher lows over a period of time. Cramer may be ready to regain his credibility when it comes to Chesapeake Energy:
For more shale updates, visit: http://blackberystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Sunday, August 8, 2010
DeSoto Parish, LA: Haynesville Shale
By Andrea: http://oilshalegas.com
-The Sloan H-1 in DeSoto Parish, LA achieved a peak 24-hour rate of 22.2 mmcf per day;
-The Brasch Family H-1 in DeSoto Parish, LA achieved a peak 24-hour rate of 22.0 mmcf per day; and
-The Wren H-1 in DeSoto Parish, LA achieved a peak 24-hour rate of 21.6 mmcf per day.
For more shale updates visit: http://blackberrystocks.blogspot.com
For more updates on the stock market visit: http://daytradingstockblog.blogspot.com
Susquehanna County, PA: Marcellus Shale
By Andrea: http://oilshalegas.com
Chesapeake Energy Corp. (CHK) released an update on the Marcellus Shale early last week. Chesapeake completed the 3 following wells in the Marcellus Shale:
-The Mowry 1H in Bradford County, PA achieved a peak 24-hour rate of 9.9 million cubic feet of natural gas (mmcf) per day;
-The Przybyszewski 4H in Susquehanna County, PA achieved a peak 24-hour rate of 9.7 mmcf per day; and
-The White 2H in Susquehanna County, PA achieved a peak 24-hour rate of 9.0 mmcf per day.
Chesapeake Energy Corp. (CHK) released an update on the Marcellus Shale early last week. Chesapeake completed the 3 following wells in the Marcellus Shale:
-The Mowry 1H in Bradford County, PA achieved a peak 24-hour rate of 9.9 million cubic feet of natural gas (mmcf) per day;
-The Przybyszewski 4H in Susquehanna County, PA achieved a peak 24-hour rate of 9.7 mmcf per day; and
-The White 2H in Susquehanna County, PA achieved a peak 24-hour rate of 9.0 mmcf per day.
For more shale updates visit: http://blackberrystocks.blogspot.com
For more updates on the stock market visit: http://daytradingstockblog.blogspot.com
Friday, August 6, 2010
Chesapeake Energy in Niobrara and Eagle Ford Shale
By Andrea: http://oilshalegas.com
Chesapeake Energy Corp. (CHK) announced that they own the largest amount of acreage in both the Niobrara and the Eagle Ford Shale. CEO Aubrey McClendon reports:
"We now own the largest inventory of leasehold in two of the top three new unconventional liquids plays in Niobrara and the Eagle Ford Shale, where we now on 675,000 and 550,000 net acres, respectively, located very strategically in the liquids-rich portion of each play. We are especially pleased about our position in the Eagle Ford and are very excited to move forward with the JV on this acreage. We are in good position here with many potential partners, all of whom we believe are working hard to get to the right answer."
Chesapeake Energy Corp. (CHK) announced that they own the largest amount of acreage in both the Niobrara and the Eagle Ford Shale. CEO Aubrey McClendon reports:
"We now own the largest inventory of leasehold in two of the top three new unconventional liquids plays in Niobrara and the Eagle Ford Shale, where we now on 675,000 and 550,000 net acres, respectively, located very strategically in the liquids-rich portion of each play. We are especially pleased about our position in the Eagle Ford and are very excited to move forward with the JV on this acreage. We are in good position here with many potential partners, all of whom we believe are working hard to get to the right answer."
For more Shale updates, visit http://blackberrystocks.blogspot.com/
For more stock market news, visit http://daytradingstockblog.blogspot.com
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