Deals - Acquisition, Mergers, Divestitures | Capital Markets | Capital Expenditure | Drilling Program-Rig Count | Capital Expenditure - 2022
Chesapeake Raises 2022 Budget on Heels of Chief Acquisition; Adds Rigs
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Chesapeake Energy has updated its 2022 guidance/outlook on the heels of its dual deal announcements made on January 25, 2022.
2022 Plans
- Updated capex of $1.5-1.8 billion - up by $200 million at the midpoint from prior estimates
- Upon closing of the transactions, Chesapeake plans to operate two rigs on the acquired properties during 2022, resulting in a total of 9 - 11 gas-focused rigs and 2 - 3 oil-focused rigs.
At current commodity strip prices, this preliminary capital program is anticipated to generate $3.4 - $3.6 billion in total adjusted EBITDAX.
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