Chesapeake Energy Corporation Is The Second Largest Producer Of Natural Gas

1383 WordsOct 22, 20146 Pages
The Companies Chesapeake Energy Corporation is the second-largest producer of natural gas and the tenth-largest producer of liquids in the United States. It owns interests in approximately 46,800 natural gas and oil wells that produced a net interest average of approximately 665 mboe per day in the 2013 fourth quarter. The company has a large and geographically diverse resource base of onshore U.S. unconventional natural gas and liquids assets. It also owns substantial marketing, compression and oilfield services businesses. Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. Its assets are concentrated in areas with known hydrocarbon resources conducive to multi-well, repeatable drilling programs. It operates in one segment, natural gas and oil development, exploitation, exploration and production, with all located in the continental U.S. Cabot is the thirteenth largest producer of natural gas in the U.S. In addition to the competition between the two firms addressed, fierce competition exists from other oil and gas producers, particularly ExxonMobil, the number one producer of natural gas in the United States. Macroeconomic Risks Both Chesapeake’s and Cabot’s revenues, operating results, financial condition and ability to obtain outside capital depends substantially on prevailing prices for natural gas and oil. Lower commodity prices may reduce the amount of natural gas and

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