CHESAPEAKE ENERGY CORPORATION REPORTS 2022 THIRD QUARTER RESULTS

Link to full article:  https://www.prnewswire.com/news-releases/chesapeake-energy-corporat...

EXCERPT:

Operations Results

Third quarter net production was approximately 4,108 mmcfe per day (90% natural gas and 10% total liquids), utilizing an average of 16 rigs to drill 58 wells and placed 50 wells on production. Chesapeake is currently operating 13 rigs including five in the Marcellus, two in the Eagle Ford and six in the Haynesville and plans to add a seventh Haynesville rig by the end of the month. The company expects to drill 45 to 50 wells and place 60 to 65 wells on production in the fourth quarter of 2022.

Chesapeake entered into an agreement with Momentum Midstream which is expected to deliver 700 mmcf per day to premium Gulf Coast markets beginning in 2024. Momentum's project, which has an option for Chesapeake to participate in 35% of the equity, includes a carbon capture and sequestration component that will help the company reach its net zero goals in 2035.  Including the previously announced gas supply agreement (GSA) with Golden Pass LNG Terminal LLC ("Golden Pass"), the company has added 1 bcf per day of new capacity to deliver Responsibly Sourced, independently certified gas from the Haynesville to the LNG corridor beginning in 2024.  Chesapeake continues to work with its midstream partners to increase Haynesville gas gathering, treating and takeaway capacity.

Additional information on each of its operating areas, including projections for activity, well statistics and pricing, can be found at www.chk.com.