Chesapeake Energy 1998 Annual Report Download - page 59

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REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors and Stockholders
of Chesapeake Energy Corporation
In our opinion, the consolidated financial statements listed in the accompanying index present fairly, in all
material respects, the fmancial position of Chesapeake Energy Corporation and its subsidiaries (the "Company") at
December 31, 1998 and 1997, and at June 30, 1997, and the results of their operations and their cash flows for the
year ended December 31, 1998, for the six months ended December 31, 1997, and for the years ended June 30,
1997 and 1996, in conformity with generally accepted accounting principles. In addition, in our opinion, the
financial statement schedules listed in the accompanying index presents fairly, in all material respects, the
information set forth therein when read in conjunction with the related consolidated fmancial statements. These
fmancial statements and financial statement schedules are the responsibility of the Company's management; our
responsibility is to express an opinion on these financial statements and financial statement schedules 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 audit to obtain reasonable assurance about whether the fmancial
statements are free of material misstatement. An audit includes examining, on a teSt basis, evidence supporting the
amounts and disclosures in the fmanciál 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.
PRICEWATERHOUSECOOPERS LLP
Oklahoma City, Oklahoma
March 18, 1999
39