About 400 million cubic feet (mmcf) per day, or 13 percent of the company's gross capacity, will be curtailed. On March 2, Chesapeake had said it would cut 200 mmcf per day.
"As a result of recession-related reduced demand and abundant U.S. production, natural gas prices have remained soft in recent months," Aubrey McClendon, Chesapeake's chief executive officer said in a statement.
"However, we believe substantially lower drilling activity and natural reservoir depletion will work to rebalance U.S. natural gas markets by late 2009 or in early 2010," he said.
The wells that have been curtailed are primarily located in the Mid-Continent and Texas Barnett Shale regions, the Oklahoma City, Oklahoma company said.
Shares of Chesapeake, which closed up a penny at $20.94 on the New York Stock Exchange, fell 3 percent in after-hours trade.
