Haynesville Update
We want to take this opportunity to update you, the elected officials and stakeholders of the Haynesville and Bossier shale areas, about our operations, activities in the community and how we are continuing to be a responsible partner.
September 2024
Operational and Financial Update
On July 29, Chesapeake reported its 2024 second quarter financial and operating results. To learn more, see our news release, presentation and earnings highlights.
Nick Dell’Osso, Chesapeake’s President and Chief Executive Officer, said, “We continue to execute our business as we prudently manage current market conditions and prepare for our pending combination with Southwestern. We remain focused on operational improvements and enhancing capital efficiency. The efforts of our team have positioned us to lower our 2024 capital and production expense guidance by $50 million and approximately 8%, respectively. Importantly, we expect these improvements will be durable through cycles, positioning us to lower our breakeven costs while we build productive capacity to more efficiently reach consumers when demand recovers.”
2Q24 Haynesville Business Unit Snapshot
Drilling:
- Averaged 4 active rigs
- 5 wells drilled
Production:
- 0 wells turned-in-line
- 1.191 net production (bcfe/d)
- 43% of total company production
- 100% Responsibly Sourced Gas (RSG)
Employee Spotlight
Get to Know Matt Sheppard, Director of Government Affairs
For over 15 years, Matt Sheppard has been a leading voice of advocacy for Chesapeake and the industry-at-large. As Chesapeake’s Director of Government Affairs, Matt plays a pivotal role in shaping and advocating for sound energy policy at both the state and federal levels. Through years of building relationships with government officials, regulatory agencies, trade associations and community groups, he has become a trusted advisor in the legislative and regulatory process. His work includes helping policymakers understand what our industry does and how we’re working to deliver a sustainable energy future.
In addition to policymaking, Matt also informs Chesapeake’s Marcellus and Haynesville team members about state and federal regulatory developments that could impact our operations. It’s his goal that no one at Chesapeake is surprised by a government action.
He adds, “I help ensure our teams across our footprint have the information they need to make informed decisions regarding future development and strategic objectives. My primary goal is to keep Chesapeake ahead of the curve when it comes to policy developments, positioning the company to succeed.”
As a Pennsylvania local, Matt is closely looped into state policy matters in both Pennsylvania and Louisiana, serving on the boards of both the Marcellus Shale Coalition and LMOGA, in addition to his federal work. According to Matt, living in Pennsylvania plays an important role in his ability to advocate for local issues.
“It’s nice to live and work in Pennsylvania because natural gas plays such a significant role in the state’s economy and job market,” said Matt. “When I’m advocating for the issues that matter to our company, I’m also fighting for the jobs and interests of people in my community. We bring this same community-minded approach to our work in Louisiana as well.”
Matt has been married to his wife Penny for almost 26 years and together they’ve raised four kids. With two in college and two in high school, Matt is spending most of his ‘free’ time on the sidelines watching his youngest son and daughter play baseball and field hockey (respectively).
His next challenge includes supporting the Chesapeake-Southwestern integration. The merger not only enhances our operational capabilities, but also significantly strengthens our influence in the energy sector. Matt notes, “I’m excited about the expanded opportunities the merger creates for us to engage with policymakers and industry group, ensuring that natural gas continues to be recognized as a critical component of the energy transition. Our combined resources and expertise will enable us to drive innovation, advocate for sustainable energy policies, and play a pivotal role in shaping the future of energy.”
In The Community
Over the past quarter, Haynesville employees invested time and resources in projects and programs that align with our local needs and business priorities.
Highlights include:
- Sabine Parish Special Olympics – Employees volunteered at the events at Zwolle Fairgrounds.
- H2S Team Training with Caddo Fire District 4 – We met with the Caddo Fire Department to review the emergency rescue technique and equipment.
- LOGA Industry Day at the Capitol – CHK employees Michelle Cavanaugh, Adam Mouser and Ginger Corley networked with state leaders and industry stakeholders in support of secure affordable energy in our state.
- High School Scholarship Presentations – Roper Smith from Logansport High School and Tyler Hughes from Red River High School were the recipients of a $5,000 CHK scholarship each.
- United Way Day of Caring – 20 Chesapeake employees volunteered a total of 80 hours at the event.
- Event Sponsorship – Chesapeake sponsored several events this quarter (Caddo Council on Aging Brunch and Bingo, Texas Oilfield Angels Crawfish Boil, St. Jude Miracles on the Red in Caddo Parish, The Oilmen’s Golf Tournament at East Ridge Country Club, LOGA Sporting Clay Shoot at Los Paloma Sporting Range and Shreveport Father’s Day 5k Run & Walk)
ESG Update
Chesapeake Releases 2023 Sustainability Report
The company issued its 2023 Sustainability Report, marking Chesapeake’s 12th consecutive year reporting on its environmental, social, and governance performance and its resilience in a lower carbon future. The Report can be accessed here and reflects the company’s commitment to transparency and enhanced disclosures.
Questions/Contact Information
We want you to know we are always available to answer your questions. Our teams in the Mansfield and Haughton field offices speak with landowners every day as we prepare for future development.
Neil Lewis
Landman
neil.lewis@chk.com
Sammy Briscoe
Maintenance & Construction
sammy.briscoe@chk.com
Colby Finton
Health Safety & Environmental
colby.finton@chk.com
Michelle Cavanaugh
Community Affairs
michelle.cavanaugh@chk.com
Monty Mayfield
Land Manager
monty.mayfield@chk.com
Matt Sheppard
Government & Regulatory Affairs
matt.sheppard@chk.com
Jonathan Wheelis
Operations Manager
jonathan.wheelis@chk.com
Royalty Owner Questions
Owner Relations
877-245-1427
contact@chk.com
8 a.m. – 5 p.m. CST, Monday through Friday