# Chesapeake plans production cut of nearly 20% | Oil & Gas Journal

> Chesapeake plans to cut 2024 capital spending and reduce full-year production from its Haynesville and Marcellus assets to nearly 20% below its 2023 exit rate. The company cited low market prices and aims to hold about 1 bcfd of reserve capacity by end-2024.

- Date: 2024-02-21 · published 2024-02-21T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/31845-chesapeake-plans-production-cut-of-nearly-20-oil-and-gas-journal
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Deliberate production curtailment by a major US gas producer reduces supply growth, which supports Henry Hub prices and eases the surplus that had pushed prices down.

## Read by commodity

- NATGAS: bullish ▲

## Sources

- ogj.com: https://www.ogj.com/general-interest/companies/article/14305548/chesapeake-plans-production-cut-of-nearly-20

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.