Chesapeak's Relationship with the Utica Shale
Chesapeake Energy recently announced their presence in the Utica Shale. The Utica Shale is gaining interest by shale players across the country. Was this a good move for CHK? That is questionable and a few analysts explain why.
"Chesapeake Energy Corp. (CHK) shares are poised to gap sharply higher on the open this morning, as traders react to news of “strong initial production success” in the Utica shale region of Ohio and Pennsylvania. In fact, the firm plans to increase its net liquids production by 50% to roughly 150,000 barrels per dayby the end of 2012, with output rising 150% to 250,000 barrels by the end of 2015."
Quote from article by Joseph Hargett, Find the entire article here.
Find additional research here: http://turnkeyoil.com/2011/10/02/chesapeakes-relationship-with-the-utica-shale/