The Utica shale, where Chesapeake Energy (CHK) owns drilling rights to 1.2M acres with roughly a...

|About: Chesapeake Energy Corporation (CHK)|By:, SA News Editor

The Utica shale, where Chesapeake Energy (CHK) owns drilling rights to 1.2M acres with roughly a third in a zone it has described as rich in oil, is now considered unlikely to drive a major increase in its oil production. Utica will be "one of our foundational plays for decades," CEO Aubrey McClendon says, but if there's oil to be had there, it would be collected with the help of other companies.