Chesapeake Energy Corp. is halting its drilling in the Utica and Marcellus shales.



The financially strapped company announced on Wednesday that it had released its Utica and Marcellus drilling rigs.



That will mean no new drilling, at least temporarily, in Ohio, Pennsylvania and West Virginia.



The company had two rigs in Ohio's Utica Shale and one rig in Pennsylvania's Marcellus Shale in the fourth quarter 2015.



Chesapeake Energy is the No. 1 driller in Ohio's Utica Shale.



More details to come later.