Chesapeake leaving, but not done drilling yet

LISBON –Chesapeake Energy may be selling its Utica Shale oil and gas assets in Ohio but the company is continuing to drill new wells in Columbiana County.

Chesapeake’s subsidiary, Chesapeake Exploration, has applied to the Ohio Department of Natural Resources seeking permits to drill two new horizontal wells at an existing drill site in Washington Township. The site is the Sevek farm off Clarks Mill Road.

The news comes 10 days after Houston-based Encino Acquisition Partners announced it had reached an agreement with Chesapeake to acquire all 933,000 net acres of leasehold spanning the condensate, liquids-rich and dry gas windows of the Utica play in Ohio. The deal is worth $2 billion and expected to be concluded sometime in the fourth quarter.

Chesapeake has 920 producing and non-producing wells in Ohio, of which more than 50 are in Columbiana County. Chesapeake is the largest leaseholder in the county.

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