Drilling pays off: Chesapeake reports gusher shale results.
Chesapeake hits shale output records
US gas giant Chesapeake Energy said production in its so-called "big 4" shale gas fields reached record highs during the third quarter.
Chesapeake's gross daily natural gas output from the Barnett Shale in Texas reached more than a billion cubic feet of natural gas per day.
Gross natural gas production from Haynesville Shale climbed to 500 million cubic feet per day, while its output from Arkansas's Fayetteville Shale reached 400 MMcfpd.
In the Marcellus Shale gross production hit 100 MMcfpd, according to a Dow Jones Newswires report.
The Oklahoma City-based company has joint venture agreements in three of those fields. US independent Plains Exploration and Production owns a 20% stake in Haynesville, UK supermajor BP owns a 25% stake in Fayetteville and Norway’s state-run StatoilHydro owns 32.5% share in Marcellus.