Chesapeake Energy Corp., in a conference call on Monday, said it intends to focus on oil- and liquids-rich holdings like Ohio's Utica shale and to slow its rapid-fire land acquisition, the Pittsburgh Post-Gazette reported on its Pipeline blog.
Chesapeake Energy CEO Aubrey McClendon said his firm will slow land acquisition and focus on shale acreage like that in Appalachia that is loaded with lucrative wet natural gases like ethane, butane and propane.
"Believe me, Chesapeake's management team is very, very focused on getting these funding gap issues behind us once and for all and as early as possible," McClendon said.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.