Chesapeake Energy Corp.(NYSE: CHK) provided an update on its operational results for the 2012 fourth quarter and full year.

According to the release, Chesapeake has substantially shifted its drilling and completion activity to liquids-rich plays in response to strong US oil prices and relatively weak US natural gas prices during the past four years. During 2012, the company invested 84% of its operated drilling and completion capital expenditures in liquids-rich plays and projects 86% of such expenditures will be invested in liquids-rich plays in 2013.

Eagle Ford Shale (South Texas) ...