NEW YORK (Associated Press) - Chesapeake Energy Corp. is poised to soon become the largest producer of U.S. natural gas, the company's chairman and chief executive officer said Friday.
Speaking at the company's annual shareholders meeting, Aubrey McClendon said he expects the company's gas production to surpass that of the top two producers, BP PLC and Anadarko Petroleum Corp., within the next two months.
McClendon said Chesapeake's daily gas production during the first quarter of this year was only 86 million cubic feet, or MMcf, behind that of BP PLC. Chesapeake's average daily production in 2007 was 1,957 MMcf per day, a 23 percent increase over the previous year.
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