Chesapeake Energy 1995 Annual Report Download - page 11

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LETTER TO SHAREHOLDERS
Chesapeake has grown during the past six years from five employees and
$50,000 in assets to an industry leader with 200 employees and an enterprise value
of $500 million. This success underscores the strengths of the company's strategy,
its people, its assets, and its ability to utilize new technologies to discover and
develop oil and natural gas reserves. Despite a cautious view that characterizes our
industry, we are optimistic that Chesapeake can provide further increases in
shareholder value through the company's competitive advantages, core beliefs, and
exploration successes. We look forward to reporting further progress as we
continue building Chesapeake into what we believe can be the premier
independent energy producer in the U.S.
Aubrey .McClendon
Chairman of the Board and Chief Executive Officer
To L. Ward
President and Chief Operating Officer
October 1, 1995
Large reserves remaining
in unconventional resevoirs
+
Growth through
the drilibit strategy
+
Chesapeake's
technological expertise
Value created for
Chesapeake shareholders
CHESAPEAKE ENERGY CORPORATION 9