By Mary de Wet
Chesapeake Energy Corp. on Tuesday lifted its forecasts for oil and natural gas production for the year.
On its outlook:
The company expects to produce 23.5 million to 25.5 million barrels of oil in 2021, up from its previous guidance of 23 million to 25 million barrels.
Natural gas production is likely to reach 725 billion to 745 billion cubic feet, up from 715 billion to 735 billion cubic feet in the guidance issued May 11.
Natural gas liquids production remains forecast at 6.5 million to 8.5 million barrels this year.
On its second quarter:
“Chesapeake continues to see lower base production decline rates which helped achieve an average net production rate of approximately 433,000 boe per day (approximately 77% natural gas and 23% total liquids),” the company said.
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