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Chesapeake to Exit Eagle Ford Shale in Pivot to Natural Gas

  • CEO Dell’Osso says company plans to sell South Texas assets
  • Shale driller will focus on gas-rich Marcellus, Haynesville
Updated on

Chesapeake Energy Corp. plans to exit the Eagle Ford Shale of South Texas while doubling down on two other natural basins as the energy company focuses on natural gas production while retreating from oil.

The company, which was co-founded by Aubrey McClendon and became one of the best-know US shale operators, plans to increase its drilling budget for the Haynesville shale in Louisiana during the second half and into 2023. The company said it will also focus on the Marcellus shale in the northeastern US.