Chesapeake Energy Q4 Daily Natural Gas Production Up 34%
Posted on: Monday, 18 February 2008, 03:00 CST
Chesapeake Energy has reported that daily production for the fourth quarter of 2007 averaged 2.22 billion cubic feet of natural gas equivalent, a 34% increase, compared to the 1.65 billion cubic feet of natural gas equivalent of daily production for the fourth quarter of 2006.
Chesapeake's 2007 fourth quarter production of 204.2 billion cubic feet of natural gas equivalent (bcfe) was comprised of 187.8 billion cubic feet of natural gas (bcf) and 2.74 million barrels of oil and natural gas liquids (mmbbls). Chesapeake's average daily production for the quarter of 2.22bcfe consisted of 2.04bcf of natural gas and 29,728 barrels of oil and natural gas liquids (bbls).
Chesapeake's daily production for the 2007 full year averaged 1.96bcfe, an increase of 23% over the 1.58bcfe of daily production for the 2006 full year.
Chesapeake's 2007 full-year production of 714.3bcfe was comprised of 655bcf and 9.88mmbbls. Chesapeake's average daily production for the 2007 full year of 1.96bcfe consisted of 1.79bcf and 27,074bbls. The company's growth rate for its 2007 full-year natural gas production was 24% and its growth rate for 2007 full-year oil production was 14%.
Source: Datamonitor
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