Financially troubled Chesapeake Energy Corp. on Friday announced a significant new discovery in the Texas Panhandle and western Oklahoma.
The announcement involves the Hogshooter play in the Anadarko Basin.
Chesapeake owns about 30,000 net acres in the play.
The company has completed two horizontal wells in an area where wells had been drilled to other underground rock formations.
During the first eight days of stabilized production, the first well averaged a daily production of 5,400 barrels of oil, 1,200 barrels of natural gas liquids and 4.6 million cubic feet of natural gas.
That, Chesapeake said, is equal to about 7,350 barrels of oil equivalents per day.
Current daily production is about 7,000 barrels of oil equivalent.
The second well averaged 1,300 barrel;s of oil, 365 barrels of natural gas liquids and 1.4 million cubic feet of natural gas or about 1,900 barrels of oil equivalents per day.
Current daily production is about 1,400 barrels of oil equivalents.
Chesapeake CEO Aubrey McClendon, in a company statement, called the first well one of the best oil wells drilled in the Lower 48 states in several decades.
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.
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No Frack Ohio, a Columbus-based grass-roots group.
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Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.