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ES - Chesapeake’s Marcellus integral to FCF despite gas pullback - September 10, 2019
As Chesapeake Energy moves into 2020, it plans to allocate more capital to oil growth areas and less to its gas assets. This will lead to double-digit percentage oil growth but doubledigit percentage declines for gas volumes in 2020. For the Haynesville this means dropping the last rig in the play shortly. The Marcellus, however, is a significant free cash flow generator—the play is projected to generate $320 million this year—with low breakevens of......
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