In this edition, energy analysts Joel South and Taylor Muckerman look at Chesapeake Energy (NYSE:CHK) and discuss the steps the company will take in 2013 in an attempt to return value for shareholders.

While the company has either the No. 1 or No. 2 position in 10 of the top 15 plays in the U.S., 2013 will be all about four locations. In an attempt to continue its massive liquids growth, Chesapeake has earmarked 90% of its 2013 capital expenditure budget to projects in high oil projects in the Eagle Ford, Utica, Mississippian Lime, and Anadarko Basin. Chesapeake is moving into a harvest stage after years of massive acreage accumulation. With 2013's funding gap just about closed, targeting high oil content and, for the first time ever, decreasing natural gas production might be the moves to boost the company's share price. 

Joel South and Taylor Muckerman have no positions in the stocks mentioned above. The Motley Fool has the following options: long JAN 2013 $16.00 calls on Chesapeake Energy, long JAN 2014 $20.00 calls on Chesapeake Energy, long JAN 2014 $30.00 calls on Chesapeake Energy, and short JAN 2014 $15.00 puts on Chesapeake Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.