Chesapeake Cuts Natural Gas Production Estimates
Tuesday, September 23rd, 2008
Chesapeake Energy lowered the estimated value of its natural gas production through the end of fiscal 2010. This reduction mainly is a result of lower natural gas prices for the estimation period. They also plan to reduce rig count from 157 to 140 by year-end 2008 and reduce capital expenditures in anticipation of a domestic glut of natural gas. More details in their news release.
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