Chesapeake Energy 1995 Annual Report Download - page 17

Download and view the complete annual report

Please find page 17 of the 1995 Chesapeake Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 57

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57

NEW OPERATING AREAS
OTHER HORIZONTAL PROJECTS
Chesapeake is developing other horizontal projects in the Giddings Field,
primarily in Fayette and Grimes Counties, Texas. These areas include a 20,000
gross acre joint venture with Union Pacific Resources, a 10,000 gross acre joint
venture with Swift Energy in Fayette County, and a 30,000 gross acre position in
the lola area of northern Grimes County where Chesapeake is drilling horizontal
Buda and Georgetown wells. The Buda and Georgetown formations, found less
than 1,000 feet below the Austin Chalk, underlie most of the company's acreage
in the Giddings Field and could provide significant future reserve additions.
Chesapeake has budgeted $24 million to drill 28 gross (13 net) horizontal wells
in these and other areas of Texas during fiscal 1996.
Chesapeake believes it has one of the largest and most diversified prospect
inventories in the independent energy sector. In fiscal 1996, Chesapeake will
continue leveraging its geological and engineering expertise into new project areas
that can continue to increase and diversify the company's asset base.
Horizontal Drilling Evolution
10.000 feet Austin Chalk
Buda
Austin Chalk
Georgetown
15,000 feet
1
CHESAPEAKE ENERGY CORPORATION 15
1990 -1992 1992-1994 1994 1996
Austin Chalk
8,000 feet Austin Chalk Austin Chalk