Wednesday, May 23, 2012

Chesapeake Earmarks 90% of CAPEX to Oil -- Rigzone

Link here.
Chesapeake Energy Corp. Tuesday said it stands by its plan to expand its oil production, saying it will spend nearly all of its 2013 capital budget on drilling in oil fields.

Chesapeake, the biggest natural-gas production company behind Exxon Mobil Corp....

About 40% of Chesapeake's planned $7 billion capital budget in 2013 is earmarked for drilling in the liquids-rich Eagle Ford shale formation in South Texas, Mobley said.
There was no mention of the Bakken in this very short press release, unless there was more to the press release and I missed it. 

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