The Oklahoma City shale player says it aims to ramp up production to 330million cubic feet equivalent per day by year's end, or 55,000 barrels of oil equivalent, interim chief executive Steve Dixon told investors on a conference call.
The company has been inhibited from increasing production due to a lack of processing equipment now being addressed, he said.
Chesapeake, whose chief executive Aubrey McClendon stepped down Monday following a governance crisis, has been hit hard by low natural gas prices as well as regulatory investigations.
