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Chesapeake Energy stops drilling in Marcellus, Utica shales

from Pittsburgh Tribune-Review

The biggest shale gas producer in Pennsylvania has stopped drilling in the Marcellus and Utica shales and is planning for less activity in 2016 as it sells off wells and land. Oklahoma City-based Chesapeake Energy Corp. said it has signed agreements to divest $700 million in gas fields and other assets and plans to sell another $500 million to $1 billion in properties this year while shutting down at least half the drilling rigs it has under contract. more


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