Chesapeake Energy Corp., the second-largest leasehold owner in the core area of the Fayetteville shale with 465,000 net acres, increased its average daily net production in the play by 10% over the fourth quarter of 2009 and by nearly 70% over the first quarter 2009.

On its Fayetteville leasehold, the company estimates it has approximately 7 tcfe of risked unproved resources and 9 tcfe of unrisked unproved resources.

In the first quarter of 2010, the Oklahoma City-based company posted production numbers of roughly 365 MMcfe net per day from the Fayetteville. The company is currently drilling with 12 operated rigs in the Fayetteville and anticipates operating an average of approximately 10 rigs in the Fayetteville in 2010 to drill approximately 90 net wells.

Three notable recent wells completed by the company in the play are:
• The Stroud 7-9 1-23H14 in White County, AR achieved a peak 24-hour rate of 7.9 MMcf/d;
• The Billy 7-8 2-11H3 in White County, AR achieved a peak 24-hour rate of 6.4 MMcf/d; and
• The Deen 7-8 2-4H10 in White County, AR achieved a peak 24-hour rate of 5.9 MMcf/d.