Hints and tips:
...Rice was the 16th-largest gas producer in the US last year, and principally operates in the Marcellus Shale in Pennsylvania, North America’s largest gasfield, and the Utica shale in Ohio....
...Mr McClendon’s American Energy Partners, a similarly-named but separate business, has private equity backing and has been investing in the Utica shale region of eastern Ohio, which is believed to be rich...
...Oil companies who rushed to buy acreage in Ohio’s Utica shale a few years ago have discovered the rock is not as porous as in other formations such as Texas’ Eagle Ford or the Bakken, and there is less natural...
...Meanwhile, The Oil Drum points out that just last week, Chesapeake’s chief executive Aubrey McClendon was expressing pessimism about the oil potential of the Utica shale formation in Ohio....
...In March BP announced it was starting exploration of the Utica shale basin in Ohio, thought to have large reserves of oil and gas....
...CHK Utica is a wholly owned, unrestricted subsidiary of Chesapeake that owns about 700,000 acres in the Utica....
...Chesapeake Energy fell 1.4 per cent to $27.27, even after the company reported successful exploratory drilling in its Utica shale field in eastern Ohio and western Pennsylvania....
...The products reference various underlying funds which are advised and ultimately controled by Bernhard L Madoff Investment Securities (CHK) LLC in New York, into which funds of the sale proceeds are invested...
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