Articles Tagged "Chesapeake Energy Corp."

US Drillers Give Up Ohio $500B Oil Dream on Disappointing Results

Bloomberg reported that some of the biggest stakeholders in the Utica Shale in Ohio are putting their acreage for sale as prices fall by as much as a third. US drillers Devon Energy Corp, EnerVest Ltd, and Chesapeake Energy Corp are selling their lands as results show lower production than what was earlier predicted.

Chinese Shale Gas Attracting International Investment

China has an enormous gas market to be filled, both in the short term and long term, where natural gas will account for as much as 12 percent of the primary energy needs over the next decade from the current 3.8 percent. Shell's Chief Financial Officer Simon Henry indicated that the company may invest $1 billion each year in China if PetroChina's two wells in Sichuan province prove they have the potential for commercial gas production.