Chesapeake Energy 1994 Annual Report Download - page 26

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REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors arid Stockholders
of Chesapeake Energy Corporation
In our opinion, the consolidated financial statements listed in the accompanying index present fairly, in all material
respects, the financial position of Chesapeake Energy Corporation and its subsidiaries (the "company") at June 30, 1994
and 1993, and the results of their operations and their cash flows for each of the three years in the period ended June
30, 1994, in conformity with generally accepted accounting principles. These financial statements are the responsibility
of the company's management; our responsibility is to express an opinion on these financial statements based on our
audits. We conducted our audits of these statements in accordance with generally accepted auditing standards which
require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. We believe that our audits provide a
reasonable basis for the opinion expressed above.
PRICE WATERHOUSE LLP
Oklahoma City, Oklahoma
September 16, 1994
24 CHESAPEAKE ENERGY CORPORAE!ON