Chesapeake's Eagle Ford well production rates are getting better and better. The company now has hundreds of wells producing and those data points allow the company to improve its drilling and completion processes.

In the third quarter of 2012, Chesapeake brought 124 wells to production. 115 of the wells (93%) produced at peak rates of more than 500 boe/d and 43 wells (35%) produced at peak rates of more than 1,000 boe/d. That's up from 91% of wells producing 500 boe/d or better and 31% of wells producing 1,000 boe/d or better in Q2 2012 when 121 wells were completed. In the first quarter of 2012, only eight of 60 wells brought online produced more than 1,000 boe/d. I'd say that's a pretty good improvement in just six months time. CHK is now completing more than three wells a week that produce more than 1,000 boe/d.

The company highlighted the following wells in its Q3 press release:

• The Faith-Yana A Unit C1H in Dimmit County achieved a peak rate of approximately 2,175 boe per day, consisting of 1,580 bbls of oil, 295 bbls of NGLs and 1.8 mmcf of natural gas per day;
• The Gates 010-CHK-B 1286-D3H in Webb County achieved a peak rate of approximately 2,100 boe per day, consisting of 660 bbls of oil, 655 bbls of NGLs and 4.7 mmcf of natural gas per day; and
• The Shining Star Ranch B 1H in La Salle County achieved a peak rate of approximately 1,580 boe per day, consisting of 1,450 bbls of oil, 80 bbls of NGLs and 0.3 mmcf of natural gas per day.