b) Natural gas and oil volumes estimated under the 10-year average NYMEX strip reflect an alternative pricing scenario that illustrates the sensitivity of proved reserves to a different pricing assumption. Futures prices represent an unbiased consensus estimate by market participants about the likely prices to be received for future production. Management believes that 10-year average NYMEX strip prices provide a better indicator of the likely economic producibility of the company’s proved reserves than the historical 12-month average price.Company Achieves Strong Operational Results in its Liquids-Rich Plays with Daily Liquids Production Increasing 51% Year over Year and 10% Sequentially, Led by 410% Year-over-Year and 43% Sequential Liquids Production Growth in its Eagle Ford Shale Play; Oil Production Comprised 69% of Total Liquids Production in the 2012 Third Quarter and Increased 96% Year over Year and 21% Sequentially
Chesapeake Energy Corporation Reports Financial And Operational Results For The 2012 Third Quarter
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