Marcellus Shale (Pennsylvania, West Virginia) : The company’s production from the Marcellus Shale continued to grow during the 2013 second quarter, benefiting from the availability of downstream takeaway capacity and the completion of wells in backlog. Chesapeake connected 131 wells to sales during the 2013 second quarter, which was substantially more than the 52 wells connected during the 2013 first quarter. Approximately 2% of the company’s Marcellus production during the 2013 second quarter was oil, 3% was NGL and 95% was natural gas.During the 2013 second quarter, Chesapeake’s average daily net production in the northern dry- gas portion of the Marcellus was approximately 780 mmcfe per day (1,810 gross operated mmcfe per day), an increase of 58% year over year and 11% sequentially. The average peak daily production rate of the 79 wells that commenced first production during the 2013 second quarter in the northern Marcellus was approximately 9 mmcfe per day.
Chesapeake Energy Corporation Reports Financial And Operational Results For The 2013 Second Quarter
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