Shell (RDS.A) is looking forward to many years of production from acreage it recently bought...

|By:, SA News Editor

Shell (RDS.A) is looking forward to many years of production from acreage it recently bought from Chesapeake Energy (CHK) and plans to add more drilling rigs, the head of Shell's Americas operations says. The properties currently produce 26K boe/day, low by industry standards, but Shell believes the land could produce much more, and expects the rig count to hit 10.