Oklahoma City-based Chesapeake Energy has not issued capex or operational revisions since oil prices crashed, but the company’s rig activity has been reduced. Since Jan. 1, Chesapeake dropped 38% of its rigs, going from 13 to eight as of April 29, according to Enverus Rig Analytics. Powder River activity has fallen from four rigs to one and the rig count on the company’s legacy Eagle Ford acreage is down 50% to two, while its Brazos Valley operations have dropped from two rigs to one. Haynesville activity remains fat at one rig, and a rig was added to the Marcellus, bringing the total to three.
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