Chesapeake Makes 'Significant' Oil And Gas Discovery In Anadarko Basin

By International Business Times,  June 01, 2012, 04:14:29 PM EDT

The troubled Chesapeake Energy Corp. ( CHK ), the second-largest producer of natural gas in the country, announced Friday it has made a "significant" discovery of crude oil and natural gas in the Anadarko Basin beneath the Texas Panhandle and western Oklahoma.

Chesapeake said two horizontal wells drilled in the Hogshooter play in the Anadarko Basin have produced more than 100,000 barrels of oil equivalent, or BOE, in the past month.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: CHK



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