If natural gas prices remain depressed, Chesapeake Energy will further reduce spending on drilling in areas such as North Texas' Barnett Shale, which mostly produces less-valuable "dry" gas, the company said Wednesday January 4, 2012.

Chesapeake is the No. 2 gas producer in the Barnett and has long been among the most active drillers. But it has already reduced drilling activity from years when gas prices were markedly higher. Read more »

Oil prices surged 4% Tuesday January 3, 2012, fueled by continued anxiety over Iran's growing threat to shut down the Strait of Hormuz after the Iranian military launched a missile test.

"It's mostly about Iran right now," said Peter Beutel, analyst with energy risk management firm Cameron Hanover. "That's the most bullish factor."

Oil prices jumped 4.2% to settle at $102.96 a barrel. That's the highest closing price since May 10, when prices ended the day at $103.88 a barrel. Read more »

Southwestern Energy Company discovered the economic viability of the Fayetteville Shale and was the first company to drill and successfully produce its natural gas.

At December 31, 2010, Southwestern held leases for approximately 915,884 net acres in the Fayetteville Shale play area (367,206 net undeveloped acres, 423,692 net developed acres held by Fayetteville Shale production, 123,442 net developed acres held by conventional production and an additional 1,544 net undeveloped acres in the traditional Fairway). Read more »

As 2011 began, West Virginia and Ohio stood on the brink of a natural gas drilling boom with companies such as Chesapeake Energy and Marquette Exploration staking major claims in both states. Read more »