OKLAHOMA CITY, Okla. — Faced with decade-low natural gas prices that have made some drilling operations unprofitable, Chesapeake Energy Corp. says that it will drastically cut drilling and production of the fuel in the U.S.
Chesapeake, the nation’s second largest natural gas producer, said Monday that it plans to cut production 8 percent. That means the company would produce the same or slightly less natural gas in 2012 than it did in 2011. Chesapeake produces about 9 percent of the nation’s natural gas, nearly all of its from shale.
via Chesapeake to cut natural gas production while increasing Ohio oil operations | cleveland.com.
Categories: Energy, Natural Gas, Resources