In its second quarter results, Chesapeake Energy Corp showed the US natural gas producer beat quarterly profit estimates, but the company says it plans to cut its rig count and bring fewer wells into production this year.
Chesapeake operates in a number of US shale plays, including Eagle Ford, Utica Shale and Anadarko Basin. The Oklahoma City-based company said it will end the year with 14 rigs, down from its current 18.
