Chesapeake To Drill Haynesville Shale Through 2017

Chesapeake Energy, the second-largest natural gas producer in the U.S., has announced that it plans to bring 140 wells on by year end 2017. All of those will be in the Haynesville Shale, an energy rich area that stretches from northwest Louisiana to southern Arkansas.

According to industry experts, drilling in Haynesville is making a comeback. Despite the current low natural gas prices, recent advancements in technology have made single well and lateral well drilling more economically viable.

Chesapeake has not been immune to the effects of dropping energy prices. and over the past thirty six months the company has made efforts to reduce costs, including divesting itself of large areas of previously drillable land.