Chesapeake to shift focus to liquids-rich plays

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Chesapeake, the second largest gas producer in the US, reiterated in an investor presentation this week that it will shift 85% of its capital investment in drilling operations away from dry gas activities to liquids-rich plays in visual_editor01visual_editor in response to low natural gas prices in the country. The company said however that there are “many reasons” to be bullish on intermediate and long-term US gas prices, arguing that pulling resources away from shale gas drilling combined with increased domestic demand and potential LNG exports would make gas prices bounce back.

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