Chesapeake Energy logo is seen on smartphone in front of displayed stock graph in this illustration taken January 25, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - U.S. shale producer Chesapeake Energy (CHK.O) is eyeing a sale of its Eagle Ford shale assets in south Texas, as it shifts its business focus to natural gas production.The company, which has faced pressure from private equity firm Kimmeridge Energy Management for changes, said it would drop three rigs in the Eagle Ford by the end of the year, exiting the basin with two rigs running.It will add two rigs in the gassy Haynesville shale, finishing the year with seven in operation there.Register now for FREE unlimited access to Reuters.comExiting the Eagle Ford assets would likely take time and could be done in multiple transactions, Chief Executive Nick Dell'Osso said during an earnings call on Wednesday.Chesapeake said it anticipates increased production in the Haynesville shale, which spans east Texas and into Louisiana, by 5% to 7% between 2022 and 2023. It plans to increase its capital investment program by 15% to $1.75 billion to $1.95 billion due to inflation and the rig additions.Chesapeake this week disclosed it had entered into an agreement to supply natural gas to the Golden Pass LNG export facility near Sabine Pass, Texas.The U.S. Gulf Coast plant, a joint venture between Qatar Energy and Exxon Mobil Corp.(XOM.N), is expected to begin commercial operations in 2024.Register now for FREE unlimited access to Reuters.comReporting by Liz Hampton in Denver, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.
Chesapeake eyes sale of south Texas shale oil assets, focuses on gas.