Oklahoma City-based Chesapeake Energy is out with a new updated website in which the company boasts of delivering on its strategy for the first quarter of 2019.
The website said the company’s strategy remains unchanged and is “resilient to commodity price volatility” based on financial discipline and profitable and efficient growth from captured resources.
Chesapeake stated it has achieved its highest EBITDAX margin in four years at $15.50 barrels of oil equivalent. The company’s total oil production increased 13 percent compared to one year ago while cash costs were reduced by $81 million.
The company’s daily oil production average is 484 Mboe from operations in the Powder River Basin of Wyoming, the Mid-Continent in Oklahoma, the Gulf Coast in Louisiana and the Brazos Valley and South Texas.
Chesapeake explained it has drilled its first Lower Eagle Ford, Upper Eagle Ford and Austin Chalk co-development locations.
In the Powder River basins, oil sales line began flowing last month with 15% field volumes being piped.
Click below to review the updated website.
file:///C:/Users/User/Downloads/June%202019%20Update.pdf