Operational update: Powder River Basin
Chesapeake Energy (CHK) noted that its first well in the Mowry formation in the Powder River Basin had reached a peak rate of more than 6.0 million cubic feet of gas per day, even with a short 4,200-foot lateral. Chesapeake plans to drill its next Mowry wells in 2018 with longer laterals in the wet gas window.
Rigs in the Powder River Basin
Currently, Chesapeake is operating two rigs in the Powder River Basin. It plans to add a third rig in October 2017 and expects to place on production up to 19 wells in the second half of 2017. That compares to nine wells in the first half of the year. CHK management noted in the 2Q17 earnings release, “We expect our total production to move higher throughout the year, driven by large turn-in-line projects underway in the Eagle Ford, Utica and Powder River Basin operating areas.”