Chesapeake Energy 1994 Annual Report Download - page 3

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WHO WE ARE
Chesapeake Energy Corporation is an independent oil and
natural gas exploration and production company headquartered
in Oklahoma City, Oklahoma. It is traded on the Nasdaq
National Market System under the symbol CSPK.
WHAT WE DO
Chesapeake utilizes advanced tech-
nological expertise in the drilling of
vertical and horizontal wells to
exploit areas of proven and poten-
tial hydrocarbon production. it
teams with major oil companies
and large independents to develop its
growing inventory of 325 proved and
probable drilling locations. The company
focuses its efforts geographically in southern Texas
and southern Oklahoma.
WHAT WE HAVE ACCOMPLISHED
Since incorporation in 1989, Chesapeake has increased
earnings to $4 million increased operating cash flow to $15
million increased annual production to 1 0 BCFE . increased
annual revenue to $30 million increased total assets to $126
million increased proved oil and gas reserves to 1 42 BCFE.
WHAT IS AHEAD
Chesapeake's shareholders will continue to benefit from an
accelerated drilling schedule . larger retained working interests
further advances in horizontal drilling technology a three-
year inventory of undrilled locations . management's substantial
ownership of the company's outstanding common shares.
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