Chesapeake Energy Corp. reported that its average Utica Shale well cost the company $7.2 million.



The average lateral is 7,800 feet and was fracked in 40 stages.



In 2014, the average lateral was only 6,200 feet in length and was fracked in 29 stages. The average well price tag was also $7.2 million.



So the company's laterals in the Utica are getting longer in 2015.