Chesapeake Energy boosts 2021 oil output forecasts by 1 million barrels

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(Reuters) – Shale producer Chesapeake Energy Corp (NYSE:CHK) on Wednesday said it was increasing its 2021 total oil production forecast to between 24.5 million and 26.5 million barrels, an increase of 1 million barrels from earlier guidance.

The company said it plans to run one to three rigs in south Texas next year and two to three rigs in Appalachia, according to a presentation. The company will run five to six active rigs at its Gulf Coast operations, the company said.