Chesapeake Forges Ahead on Asset Sales Despite Natural Gas Price Rise

摘要

Rising natural gas prices in North America have enabled Chesapeake to begin locking in hedges at "well above" $4 per thousand cubic feet on some of its 2014 production. However, the company still expects to focus the majority of its activity in oil- and liquids-rich plays such as the South Texas Eagle Ford Shale and the Utica Shale in Ohio and Pennsylvania. "We're on a pretty strict budget and we're not planning on changing our activity on dry gas drilling," Acting Chief Executive Steve Dixon said on a conference call with investors last week.