tuesdays action, page-10

Interesting you should mention CHK. They were in very early in the shale plays in the US, I think from memory they discovered the Marcellus?

Not adverse to a bit of wildcatting either. I guess when you are the largest onshore driller in the continental United States you can spare a rig or two for some prospective drills.

I think the price of gas will be driven back up the construction of gas fired power plants. Old plants are getting to expensive to retrofit from coal and regulations are getting tougher on emissions in the US.

Perhaps CHK are talking to Petrofrontier with a view to moving offshore for oil drilling while the gas prices are so low in the US?

They have considerable expertise in shale drilling and completions.

No mention was made in their most recent statements to the market however.

http://www.marketwatch.com/story/chesapeake-energy-corporation-updates-its-2012-operating-plan-in-response-to-low-natural-gas-prices-2012-01-23