Chesapeake Energy Corporation is engaged in the exploration, development, acquisition and production of oil and natural gas. The company owns interests in 22,700 natural gas and oil wells that produce approximately 575,000 barrels of oil equivalent (boe) per day, net to the company's interest.
The company owns interests in liquids-rich resource plays of the Eagle Ford shale in South Texas; the Utica shale in Ohio and Pennsylvania; the Granite Wash, Cleveland, Tonkawa and Mississippian Lime plays in the Anadarko Basin in northwestern Oklahoma and the Texas Panhandle; and the Niobrara shale and Upper Cretaceous sands in the Powder River Basin in Wyoming. Chesapeake's natural gas resource plays are the Haynesville/Bossier shales in northwestern Louisiana and East Texas; the Marcellus shale in the northern Appalachian Basin in Pennsylvania; and the Barnett shale in the Fort Worth Basin of north-central Texas.
In addition, the company owns oil and natural gas marketing and natural gas gathering and compression businesses. The company's estimated proved reserves as of December 31, 2016 were 1.7 billion barrels of oil equivalent (bboe).
The company’s daily production in FY2016 averaged 635 mboe, and consisted of approximately 90,800 bbls of oil (14% on an oil equivalent basis), approximately 2.9 billion cubic feet (bcf) of natural gas (75% on an oil equivalent basis) and approximately 66,700 bbls of NGL (11% on an oil equivalent basis). Chesapeake operates through two business segments: marketing, gathering, and compression (midstream); and oil, natural gas and natural gas liquids (NGL). Through its midstream segment, the company is engaged in marketing, gathering, and compression of oil, natural gas and NGL.
Chesapeake Energy Marketing, Chesapeake's marketing subsidiary, provides oil, natural gas and NGL marketing services, including commodity price structuring, securing and negotiating gathering, hauling, processing and transportation services, contract administration and nomination services for the company and other interest owners in the company-operated wells. Chesapeake's midstream gathering operations primarily invests in gathering systems and processing facilities to complement the company's natural gas operations.
These systems are designed to gather the company's production for delivery into major intrastate or interstate pipelines. The segment's operations comprise of: certain gathering pipelines primarily associated with vertical well production in the eastern US and four natural gas processing facilities located in West Virginia.
The compression business of Chesapeake is operated by its wholly-owned subsidiaries, Compass Manufacturing and MidCon Compression. Compass Manufacturing designs, engineers, fabricates, installs and sells natural gas compression units, accessories and equipment used in the production, treatment and processing of oil and natural gas. MidCon Compression operates wellhead and system compressors, with approximately 450,000 horsepower of compression, to facilitate the transportation of natural gas primarily produced from Chesapeake-operated wells.
As of December 31, 2016, the marketing, gathering and compression segment recorded revenues of $4,584 million, a decrease of 37.8% as compared to FY2015. Under its oil, natural gas and NGL segment, the company focuses its natural gas exploration, development, and acquisition efforts in two geographic operating divisions: Southern division and Northern division.
The Southern division includes the Eagle Ford shale in South Texas, the Anadarko Basin in northwestern Oklahoma and the Texas Panhandle, the Haynesville/Bossier shales in northwestern Louisiana and East Texas and the Barnett shale in the Fort Worth Basin in north-central Texas. The Northern division includes the Utica shale in Ohio and Pennsylvania, the Marcellus shale in the northern Appalachian Basin in Pennsylvania and the Niobrara shale in the Powder River Basin in Wyoming.
The oil, natural gas and NGL segment recorded revenues of $3,288 million in FY2016, a decrease of 39% as compared to FY2015. As of December 31, 2016, the company held an interest in approximately 22,700 gross (8,800 net) productive wells, including 19,100 properties in which Chesapeake held a working interest and 3,600 properties in which the company held an overriding or royalty interest. Of the wells in which Chesapeake had a working interest, 14,500 gross (6,700 net) were classified as natural gas productive wells and 4,600 gross (2,100 net) were classified as oil productive wells.
Chesapeake operated approximately 10,900 of its 19,100 productive wells in which it had a working interest. During 2016, the company drilled or participated in 382 gross (235 net) wells as operator and participated in another 53 gross (4 net) wells completed by other operators. Further, in FY2016, the company had total proved reserves of 1.7 bboe of oil, natural gas and NGL including 6,496 billion cubic feet (bcf) of proved natural gas reserves, 399 million barrels (mmbbl) of proved oil reserves and 226 mmbbl of NGL.
During FY2016, the company's net production was 233 mmboe of oil, natural gas and NGL including 33 mmbbl of oil, 1,049 bcf of natural gas and 24 mmbbl of NGL.
Scope of the Report
- About the Company - Historical Details, Current Ownership Structure and basic overview of Chesapeake Energy Corporation in terms of revenue, net income, and operating income.
- Financials - Details about Chesapeake Energy Corporation listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.
- Products / Services - Listing of the company’s entire portfolio along with description of individual products / services providing a clear picture of their target audience.
- Company SWOT Analysis - Outlines Chesapeake Energy Corporation’s strengths, weaknesses, and opportunities and threats facing the company.
- Recent Developments - Showcases Chesapeake Energy Corporation’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.
- Strategic Evaluation - Provides an overview of Chesapeake Energy Corporation’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.
- Technology Landscape - Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken buy the company at present along with outlook.
Key Questions Answered
- What domain does Chesapeake Energy Corporation operate and what are key points about it?
- What is the product / service portfolio of Chesapeake Energy Corporation?
- How has Chesapeake Energy Corporation performed financially from the 2013?
- How does Chesapeake Energy Corporation rank among its peers in terms of revenue and market share?
- What are Chesapeake Energy Corporation strengths and weaknesses and what opportunities and threats does it face?
- What are Chesapeake Energy Corporation’s main growth strategies and how successful has the company been at implementing them?
- What is the in-house technical capability of Chesapeake Energy Corporation? Where does it procure / outsource it?
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1. About the Company
1.1 History and Basic Facts
1.2 Ownership Structure and Key Executives
1.3 Head Office
1.4 Other Locations & Subsidiaries
1.5 List of Competitors
1.6 Employee Count & Distribution
2.1 Company Type (Listed / Unlisted)
2.2 Annual Statements
2.3 Key Financial Highlights
2.4 Region-wise Breakdown
3. Product / Services
4. SWOT Analysis
4.1 SWOT Overview
5. Recent Developments
5.1 Mergers & Acquisitions
5.2 Partnerships, Collaborations & Joint Ventures
5.3 New Product Launches
5.4 Business Expansion / Divestment
6. Strategic Evaluation
6.1 Corporate Strategy
6.2 Legal Issues
6.3 Analyst Outlook
7. Technology Landscape
7.1.1 Industry Snapshot
7.1.2 IT Spend
7.1.3 Key Information Technology Trends
7.2.1 IT Overview
7.2.2 Key IT Technologies
7.2.3 Recent IT Initiatives
7.2.4 IT Outsourcing Engagements
7.2.5 Key IT Management
7.2.6 CIO/CTO Profile
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Fig.1: Company Snapshot
Fig.2: Locations Listing on Map
Table.1: Ownership Structure
Table.2: List of Competitors
Table.3: Annual Statements
Table.4: Key Financial Highlights
Table.5: Region-wise Breakdown
Table.6: Product/Services Overview
Table.7: Mergers & Acquisitions
Table.8: Partnerships, Collaborations & Joint Ventures
Table.9: New Product Launches
Table.10: Business Expansion / Divestment
Table 11: IT Budgets
Table 12: Key IT Management (CIO / CTO)
Table 13: IT Deals undertaken in the past years