Size of Chesapeake’s shale gas and oil reserves doubted.

July 12, 2012 Gas 

WSJ: “An independent research firm called into question the size of Chesapeake Energy Corp.’s proved reserves of oil and natural gas.” “….The report zeroed in on reserves in the Barnett and Haynesville shale formations in Texas and Louisiana, which make up 42% of the gas the company estimates is in fields it owns. ITG calculated reserves for Chesapeake’s developed wells in that region at 2.8 trillion cubic feet, 70% of the amount estimated by a third­ party engineering firm for Chesapeake’s 2011 annual report. That difference accounts for approximately 12% of what Chesapeake estimates is left in all of its existing wells.”

 

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