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Ohio Utica Shale

Chesapeake to cut back spending this year as production increases

By Jim Mackinnon Published: February 6, 2014

Chesapeake Energy Corp. says it will spend 20 percent less money on drilling and other capital expenditures in 2014 compared to 2013 while producing more natural gas and oil products..

Utica shale capital expenditures will be about 15 percent of total in 2014, the company said Thursday. Chesapeake is the number one driller in Utica shale in Ohio.

Marcellus shale capital expenditures will also be about 15 percent of total, the company said.

Chesapeake said it will spend between $5.2 billion and $5.6 billion this year.

The company press release is here.

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