- 4-Week # shares sold: 705,009
- 12-Week # shares sold: 3.0 million
- 24-Week # shares sold: 3.3 million
Oil producers are expected to ramp production in response to OPEC's recent production cut agreement, but the U.S. Department of Energy suspects this will stunt oil price increases through 2018.
U.S. oil producers added 4 rigs, while natural gas producers brought 3 rigs online, bring the overall count up to 665.
Company followers feel there is still room to grow toward $10 per share in 2017, and in order to get there, Chesapeake need only keep doing what it's doing.
Gobbling up privately held acreage may continue to be a major priority for strategics in 2017, but so too will asset sales and equity raises as low leverage remains vital.