Chesapeake Energy has predicted natural gas production to rise 13% this year, up from its May forecast of 10%.
The firm expects production to rise 18% in 2011, the high end of its previous forecast.
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Chesapeake’s average daily production for the second quarter was 2.79 billion cubic feet of natural gas equivalent, an increase of 14% from the same period in 2009.
Second quarter average daily natural gas production rose 8% from the first quarter average of 2.59 billion cubic feet.
The firm plans to divert $400m in spending from natural gas to oil production this year.
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By GlobalData
