Chesapeake Energy Corporation (CHK) JPMorgan 2023 Energy, Power & Renewables Conference Call June 21, 2023 2:45 PM ET
Company Participants
Nick Dell’Osso - President and Chief Executive Officer
Conference Call Participants
Zach Parham - J.P. Morgan
Zach Parham
Good afternoon and welcome to our 8th Annual JPMorgan Energy Conference. I'm Zach Parham from the E&P Research Team here at JPMorgan. Up next, we have Chesapeake Energy and E&P focused on developing assets in the Marcellus of Haynesville. We're thrilled to have Chesapeake's President and CEO, Nick Dell’Osso with us today. Nick was appointed CEO in 2021, and he previously served for over 10 years as Chesapeake's CFO.
Nick, thanks for joining us today. Maybe we could start off with your macro views on the natural gas market. We've seen quite a bit of volatility. We started to see some rig drops come through in the data over the last few months. You know, really, what are your thoughts on the gas macro going forward?
Nick Dell’Osso
Yeah. We feel a lot better about the gas macro than we did, I would say, even 90 days ago. And that's really based on the fact that we've seen the rig drops actually show up. We knew that we were dropping some activity. We knew there was a lot discussion about dropping activity. When I talk about activity drops, we're primarily focused on the Haynesville because that was the significant source of growth throughout the second half of 2022. And, you know, a lot of people talk about it, but we've now seen the drop show up in the data.
We're also seeing production, we believe, begin to plateau. So, that's very encouraging that it happened as efficiently, as quickly as it did, and we're starting to see plateauing of production now. That plateauing we want to see that play
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