Oklahoma City-based Chesapeake Energy said last week it will focus on its natural gas operations in Haynesville and Marcellus and move its Eagle Ford positions to non-core status. Chesapeake said it will increase capital allocation by 15 percent to Haynesville in second half of 2022 and into 2023 and reduce to 3 rigs in Eagle Ford in August and exit the year with 2 rigs.
Nick Dell’Osso, president and CEO, said Aug. 2, “Our acreage positions in Marcellus and Haynesville are truly differentiated with industry-leading capital efficiency, deep runways of low breakeven inventory, strong operating margins and advantaged emissions profiles… We now view our Eagle Ford assets as non-core to our future capital allocation strategy.”
