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Chesapeake Energy Corporation announces Drastic Measures Amid a Shale Gas Boom

Tuesday, Feb 05, 2013

Research and Markets (http://www.researchandmarkets.com/research/vsd6f4/chesapeake_energy) has announced the addition of the "Chesapeake Energy Corporation: Drastic Measures Amid a Shale Gas Boom" report to their offering.

“Chesapeake Energy Corporation: Drastic Measures Amid a Shale Gas Boom”

One of the largest producers of natural gas in the US, Chesapeake owns almost 46,000 wells. Horizontal drilling and fracking have allowed the US to access 38 years' worth of shale gas. With a debt of $14.3bn, Chesapeake announced an asset disposal program to generate $14bn in cash. Chesapeake is currently facing several court battles which could cost the company hundreds of millions of dollars.

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Highlights

The US has reserves of 862tcf of shale gas, 3.1% of total global recoverable gas resources. As of October 2012 Chesapeake had raised $11.6bn of its $13bn target for 2012 from asset sales. The company is the subject of a US government anti-trust investigation, relating to the purchase and lease of oil and gas properties in Michigan.

Source: Business Wire

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