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CHESAPEAKE
ENERGY CORPORATION
1999 Annual Report

Table of contents

  • Page 1
    CHESAPEAKE ENERGY CORPORATION 1999 Annual Report

  • Page 2
    ... gross acres Table of Contents 2 Letter to Shareholders 5 Board of Directors 6 Officers 8 Employees 9 Financials (10-K) Chesapeake Energy Corporation is an independent oil and natural gas producer headquartered in Oklahoma City. The company's operations are focused on exploratory and developmental...

  • Page 3
    ... on early extinguishment of debt, net of applicable income taxes Net income (loss) Preferred stock dividends Net income (loss) available to common shareholders Earnings (loss) per share diluted Operatingcashflow Operating cash flow per share - diluted EBITDA 280,445 74,501 354,946 46,298 13,264 13...

  • Page 4
    ... commodities in the world. As a consequence, investing in oil and gas companies is not for the faint of heart and requires a willingness to ride out challenging times. However, America's growing demand for energy, particularly clean-burning natural gas, has set the stage for what is likely to be...

  • Page 5
    ...sheet and a strategically focused emphasis on natural gas, we also enjoy an industry-leading cost structure. This attractive cost structure reflects the high quality of our properties and the strong work ethic of our employees and hence, our motto Energy At Work. Our wells' average productivity is...

  • Page 6
    ... increasingly fragile natural gas supply base. It now appears that in years where the industry is forced to live within its internally generated cash flows (such as 1998 and 1999), supply actu- 4 1c Aubrey K. McClendon ally decreases 1-4%. By contrast, in years where inflows of outside capital are...

  • Page 7
    ... Aubrey K. McClendon, age 40, has served as Chairman of the Board, Chief Executive Officer and a director since co-founding the company in 1989. From 1982 to 1989, Mr. McClendon was an independent producer of oil and gas in affiliation with Tom L. Ward, the company's President and Chief Operating...

  • Page 8
    ... Human Resources Manager from 1996 to 1998. From 1994 to 1995, she served in various accounting positions with the company including Assistant Controller Operations. From 1989 to 1993, Ms. Burger was employed by Hadson Corporation as Assistant Treasurer and from 1993 to 1994 served as Vice President...

  • Page 9
    .... From March 1998 to December 1999 he served as Vice President Financial Reporting and from 1993 to March 1998 he served as Assistant Controller to the company. From 1991 to 1993 he served as Project Manager for Phibro Energy Production, Inc., a Russian joint venture. From 1987 to 1991 Mr. Johnson...

  • Page 10
    ... Lisa Owens, Don Paimeil, Michael Park, Dawn Parker, Michelle Parker, Sharon Patterson, Armando Pena Linda Peterburs, Barbi Phelps,...Jennifer Van Meir, Shelby VanWinkle, Joe Vaughan, Peggy Vosika Kay Vuong, Bill Wagner, Allan Waldroup, Ronnie Walker, Rusty Walker, Windy Wallace, Ronnie Ward, Tom Ward...

  • Page 11
    ...) 6100 North Western Avenue Oklahoma City, Oklahoma (Address of principal executive offices) 73-1395733 (I.R.S. Employer Identification No.) 73118 (Zip Code) (405) 848-8000 Registrant's telephone number, including area code Securities registered pursuant to Section 12(b) of the Act: Title...

  • Page 12
    ... onshore natural gas and oil reserves in the United States and Canada. Chesapeake began operations in 1989 and completed its initial public offering in 1993. Its common stock trades on the New York Stock Exchange under the symbol CHK. The Company's principal offices are located at 6100 North Western...

  • Page 13
    ... Chesapeake's strategy remains unchanged for 2000: maintain a superior operating cost structure, fund a capital expenditure budget in balance with operating cash flow, and deliver attractive financial returns from its assets during a time of strengthening natural gas fundamentals. Drilling Activity...

  • Page 14
    ... 72% by volume, and natural gas reserves accounted for 88% of proved reserves at December 31, 1999. DeveLopment, Exploration and Acquisition Expenditures The following table sets forth certain information regarding the costs incurred by the Company in its development, exploration and acquisition...

  • Page 15
    ... oil and gas sales. Management believes that the loss of this customer would not have a material adverse effect on the Company's results of operations or its financial position. Chesapeake Energy Marketing, Inc. ("CEMI"), a wholly-owned subsidiary, provides oil and natural gas marketing services...

  • Page 16
    ... sale of non-core assets. From time to time, we have used short-term bank debt, generally as a working capital facility. Future cash flows are subject to a number of variables, such as the level of production from existing wells, prices of oil and gas, and our success in developing and producing new...

  • Page 17
    ... oil and gas prices. Drilling and Oil and Gas Operations Present Unique Risks. Drilling activities are subject to many risks, including well blowouts, cratering, uncontrollable flows of oil, natural gas or well fluids, fires, formations with abnormal pressures, pollution, releases of toxic gases...

  • Page 18
    ... to sue foreign persons in a United States court. The Loss of Either the CEO or the COO Could Adversely Affect Operations. Our operations are dependent upon our Chief Executive Officer, Aubrey K. McClendon, and our Chief Operating Officer, Tom L. Ward. The unexpected loss of the services of either...

  • Page 19
    ...cost of planning, designing, drilling, operating and in some instances, abandoning wells. In most instances, the regulatory requirements relate to the handling and disposal of drilling and production waste products and waste created by water and air pollution control procedures. Although the Company...

  • Page 20
    .... The Company provides safety training and personal protective equipment to its employees. OPA and Clean Water Act. Federal regulations require certain owners or operators of facilities that store or otherwise handle oil, such as the Company, to prepare and implement spill prevention control plans...

  • Page 21
    ... its employee relations to be good. Facilities The Company owns an office building complex in Oklahoma City totaling approximately 86,500 square feet and nine acres of land that comprise its headquarters' offices. The Company also owns field offices in Lindsay and Waynoka, Oklahoma and Garden City...

  • Page 22
    ..., exploration, and development activities for a company using the full-cost method of accounting. Additionally, any internal costs that can be directly identified with acquisition, exploration and development activities are included. Any costs related to production, general corporate overhead or...

  • Page 23
    ..., discounted using an annual discount rate of 10%. Productive Well. A well that is producing oil or gas or that is capable of production. Proved Developed Reserves. Reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. Proved Reserves...

  • Page 24
    ... 1,206 Bcfe at December 31, 1999, compared to 1,091 Bcfe of estimated proved reserves at December 31, 1998 (see Note 11 of Notes to Consolidated Financial The Company's strategy for 2000 is to continue developing its natural gas assets by drilling, selective acquisitions and miscellaneous property...

  • Page 25
    ... described above which are focused on natural gas properties, the Company maintains operations in the Permian Basin in New Mexico, and the Williston Basin in North Dakota; Montana; and Saskatchewan, Canada which are focused on developing oil properties. In 1999, these areas contributed 7 Bcfe, or...

  • Page 26
    ...the Oklahoma Securities Act by the Company and others. The action, originally filed in February 1998, was brought purportedly on behalf of investors who purchased Bayard common stock in, or traceable to, Bayard's initial public offering in November 1997. The defendants include officers and directors...

  • Page 27
    ... the Company, Chesapeake Panhandle Limited Partnership ("CP") (f/k/a MC Panhandle, Inc.), and two subsidiaries of Kinder Morgan, Inc. are defendants in 13 lawsuits filed between June 1997 and January 1999 by royalty owners seeking the cancellation of oil and gas leases in the West Panhandle Field in...

  • Page 28
    ... of Texas, Amarillo Division, Nos. 2:98-CV-012 and 2:98-CV-106, filed January 8, 1998 and March 18, 1998, respectively (actions consolidated), jury trial in May 1999, verdict for Company and co-defendants. The jury found plaintiffs' claims were barred by the payment of shut-in royalties, laches...

  • Page 29
    cases, the outcome of the remaining trials and the amount of damages that might ultimately be awarded could differ from management's estimates. Management believes, however, that the leases are valid, there is no basis for exemplary damages and that any findings of fraud or bad faith will be ...

  • Page 30
    ... 22,500 beneficial owners. Dividends The Company paid quarterly dividends of $0.02 per common share from July 1997 to July 1998. In September 1998 the Board of Directors determined that because of low oil and natural gas prices the payment of cash dividends on the common stock should be cancelled...

  • Page 31
    ... made by the Company during the first and second quarters of 1998 materially affect the comparability of the selected financial data for 1997 and 1998. Each of the acquisitions was accounted for using the purchase method. The table should be read in conjunction with "Management's Discussion and...

  • Page 32
    ...item Extraordinary item Net income (loss) Cash dividends declared per common share Cash Flow Data: Cash provided by operating activities before changes in working capital Cash provided by operating activities Cash used in investing activities Cash provided by (used in) financing activities Effect of...

  • Page 33
    ...-cost method of accounting and a $55.0 million writedown of other assets. The loss in 1997 was caused primarily by a $346 million oil and gas property writedown. See "Impairment of Oil and Gas Properties" and "Impairment of Other Assets". Oil and Gas Sales. During 1999, oil and gas sales increased...

  • Page 34
    ... to develop proved undeveloped reserves, are depleted and charged to operations using the unit-of-production method based on the ratio of current production to proved oil and gas reserves as estimated by the Company's independent engineering consultants and Company engineers. Costs directly...

  • Page 35
    ... personnel expenses required by the Company's growth and industry wage inflation. The Company capitalized $2.7 million, $5.3 million and $5.3 million of internal costs in 1999, 1998 and 1997, respectively, directly related to the Company's oil and gas exploration and development efforts. The...

  • Page 36
    ... under or expand its secured commercial bank facility. If the Company fails to pay dividends for six quarterly periods, the holders of preferred stock will be entitled to elect two new directors to the Board. Based on current projections of cash flow and fixed charges, the Company does not expect to...

  • Page 37
    ...capital requirements, ability to supplement capital resources with asset sales, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves, projecting future rates of production and the timing of development expenditures, competition, operating...

  • Page 38
    ... physical purchase or sale commitments. Gains or losses on crude oil and natural gas hedging transactions are recognized as price adjustments in the months of related production. As of December 31, 1999, the Company had the following open natural gas swap arrangements designed to hedge a portion of...

  • Page 39
    ... gas marketing sales in the consolidated statements of operations and are not considered by management to be material. Interest Rate Risk The Company also utilizes hedging strategies to manage fixed-interest rate exposure. Through the use of a swap arrangement, the Company believes it can benefit...

  • Page 40
    ... Income (Loss) for the Years Ended December 31, 1999 and 1998, for the Six Months Ended December 31, 1997 and for the Year Ended June 30, 1997 Notes to Consolidated Financial Statements Financial Statement Schedules: Page 31 32 33 34 36 37 69 Schedule II Valuation and QuaIifing Accounts -30...

  • Page 41
    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 financial position of Chesapeake Energy Corporation and ...

  • Page 42
    CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS ASSETS December 31, 1999 1998 CURRENT ASSETS: Cash and cash equivalents Restricted cash Accounts receivable: Oil and gas sales Oil and gas marketing sales Joint interest and other, net of allowances of $3,218,000 and $3,209...

  • Page 43
    ... ENERGY CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS Years Ended December 31, 1999 1998 Six Months Ended December 31, 1997 Year Ended June 30, 1997 192,920 76,172 269,092 11,445 (S in thousands, except per share data) REVENUES: Oil and gas sales Oil and gas marketing sales...

  • Page 44
    CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS Years Ended December 31. 1999 Six Months Ended December 31, 1998 Year Ended June 30, 1997 1997 (31,574) 62,028 110,000 794 41 CASH FLOWS FROM OPERATING ACTIVITIES: NET INCOME (LOSS) ADJUSTMENTS TO RECONCILE NET ...

  • Page 45
    ...$ $ $ $ SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: In November 1999, the Chief Executive Officer and Chief Operating Officer of Chesapeake tendered to Chesapeake Energy Marketing, Inc. ("CEMI") 2,320,107 shares of Chesapeake common stock in full satisfaction of two notes...

  • Page 46
    CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) AND COMPREHENSIVE INCOME (LOSS) Years Ended December 31. 1999 1998 Six Months Ended December 31, 1997 Year Ended June 30, 1997 PREFERRED STOCK: Balance, beginning of period Purchase of ...

  • Page 47
    ...of crude oil and natural gas from underground reservoirs. The Companys properties are located in Oklahoma, Texas, Arkansas, Louisiana, Kansas, Montana, Colorado, North Dakota, New Mexico and British Columbia and Saskatchewan, Canada. These consolidated financial statements relate to the years ended...

  • Page 48
    ... in fiscal 1997. The Company did not have operations in Canada prior to 1998. Proceeds from the sale of properties are accounted for as reductions to capitalized costs unless such sales involve a significant change in the relationship between costs and the value of proved reserves or the underlying...

  • Page 49
    ... 31, 1999 and 1998 were not material. Hedging The Company periodically uses certain instruments to hedge its exposure to price fluctuations on oil and natural gas transactions and interest rates. Recognized gains and losses on hedge contracts are reported as a component of the related transaction...

  • Page 50
    ...; lines of business; dividend and other payment restrictions affecting Guarantor Subsidiaries; mergers or consolidations; and transactions with affiliates. The Company is obligated to repurchase the 9.625% and 9.125% Senior Notes in the event of a change of control or certain asset sales. -40-

  • Page 51
    ... under or expand its secured commercial bank facility. If the Company fails to pay dividends for six quarterly periods, the holders of preferred stock will be entitled to elect two new directors to the Board. Based on current projections of cash flow and fixed charges, the Company does not expect to...

  • Page 52
    ... BALANCE SHEET As of December 31, 1999 ($ in thousands) ASSETS Non- Guarantor Subsidiaries CURRENT ASSETS: Cash and cash equivalents Accounts receivable Inventoly Other Total Current Assets PROPERTY AND EQUIPMENT: Oil and gas properties Unevaluated leasehold Other property and equipment...

  • Page 53
    ...1998 ($ in thousands) ASSETS Non- Guarantor Subsidiaries $ Guarantor Subsidiaries $ Company $ Eliminations $ CURRENT ASSETS: Cash and cash equivalents Accounts receivable Inventory Other Total Current Assets PROPERTY AND EQUIPMENT: Oil and gas properties Unevaluated leasehold Other property and...

  • Page 54
    ... CONSOLIDATING STATEMENTS OF OPERATIONS (S in thousands) Non- Guarantor Subsidiaries Guarantor Subsidiaries $ Company $ Eliminations $ Consolidated $ For the Year Ended December 31, 1999: REVENUES: Oil and gas sales Oil and gas marketing sales Total Revenues OPERATING COSTS: Production...

  • Page 55
    ... Subsidiaries NonGuarantor Subsidiaries Company Eliminations 1,617 Consolidated For the Year Ended June 30, 1997: REVENUES: Oil and gas sales Oil and gas marketing sales Total Revenues OPERATING COSTS: Production expenses and taxes Oil and gas marketing expenses Impairment of oil and gas...

  • Page 56
    ... Other additions CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from long-term borrowings Payments on long-term borrowings Cash received from issuance of preferred stock Cash paid for purchase of treasury stock Dividends paid on common stock and preferred stock Exercise of stock options Intercompany...

  • Page 57
    ...Ended December 31, 1997: CASH FLOWS FROM OPERATING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES: Oil and gas properties Investment in service operations Other investments Other additions CASH FLOWS FROM FINANCING ACTIVITIES: Dividends paid on common stock Exercise of stock options Other financing...

  • Page 58
    ... CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (S in thousands) Guarantor Subsidiaries For the Year Ended December 31, 1999: Net income (loss) Other comprehensive income (loss) foreign currency translation Comprehensive income $ Non-Guarantor Subsidiaries $ Company $ Eliminations...

  • Page 59
    ...action alleging violations of the Securities Act of 1933 and the Oklahoma Securities Act was first filed in February 1998 against the Company and others on behalf of investors who purchased common stock of Bayard Drilling Technologies, Inc. ("Bayard") in, or traceable to, its initial public offering...

  • Page 60
    ... the Company, Chesapeake Panhandle Limited Partnership ("CP") (17k/a MC Panhandle, Inc.), and two subsidiaries of Kinder Morgan, Inc. are defendants in 13 lawsuits filed between June 1997 and January 1999 by royalty owners seeking the cancellation of oil and gas leases in the West Panhandle Field in...

  • Page 61
    ...million writedown related to the impairment of oil and gas properties. The writedown and significant tax net operating loss carryforwards (caused primarily by expensing intangible drilling costs for tax purposes) resulted in a net deferred tax asset at December 31, 1999 and 1998. The Company expects...

  • Page 62
    ..., for legal services provided by a law firm of which a director is a member. Employee Benefit Plans The Company maintains the Chesapeake Energy Corporation Savings and Incentive Stock Bonus Plan, a 401(k) profit sharing plan. Eligible employees may make voluntary contributions to the plan which are...

  • Page 63
    ...November 1999, the Chief Executive Officer and the Chief Operating Officer of Chesapeake tendered to CEMI 2,320,107 shares of Chesapeake common stock in full satisfaction of two notes payable to CEMI with a combined outstanding balance of $7.6 million. See Note 6. During 1998, the Company's Board of...

  • Page 64
    ... director who is not an executive officer receives every quarter a ten-year immediately exercisable option to purchase 6,250 shares of common stock at an option price equal to the fair market value of the shares on the date of grant. The amount of the award was changed from 20,000 shares (post-split...

  • Page 65
    ... its employee stock options. The Company's pro forma information follows: Years Ended December 31, 1999 1998 Six Months Ended December 31, 1997 Year Ended June 30, 1997 (In thousands, except per share amounts) Net Income (Loss) As reported Pro forma Basic Earnings (Loss) per Share As reported Pro...

  • Page 66
    ... physical purchase or sale commitments. Gains or losses on crude oil and natural gas hedging transactions are recognized as price adjustments in the months of related production. As of December 31, 1999, the Company had the following open natural gas swap arrangements designed to hedge a portion of...

  • Page 67
    ...and gas marketing sales in the consolidated statements of operations and are not considered by management to be material. Interest Rate Risk The Company also utilizes hedging strategies to manage fixed-interest rate exposure. Through the use of a swap arrangement, the Company believes it can benefit...

  • Page 68
    ... the requirements of Statement of Financial Accounting Standards No. 107, "Disclosures About Fair Value of Financial Instruments". The estimated fair value amounts have been determined by the Company using available market information and valuation methodologies. Considerable judgment is required in...

  • Page 69
    ... are summarized as follows: Year Ended December 31, 1999 U.S. Canada (S in thousands) $ Combined Development and leasehold costs Exploration costs Acquisition costs Sales of oil and gas properties Capitalized internal costs Total $ $124,861 U.S. 95,329 23,651 47,993 (44,822) 2,710 31...

  • Page 70
    ... U.S. Canada (S in thousands) $ Combined Development and leasehold costs Exploration costs Capitalized internal costs Total $ $ 324,989 136,473 3,905 465.367 $ 324,989 136,473 3.905 $ 5 465.367 Results of Operations from Oil and Gas Producing Activities (unaudited) The Company's results...

  • Page 71
    ... of crude oil, natural gas, and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Proved developed oil and gas reserves are those expected to...

  • Page 72
    Presented below is a summary of changes in estimated reserves of the Company for 1999, 1998, the Transition Period and fiscal 1997: December 31, 1999 U.S. Canada Gas (MMcf) 724,018 158,801 59,904 (96,873) (31,616) 64.3 50 878 584 Proved reserves, beginning of period Extensions, discoveries and ...

  • Page 73
    ...Standardized Measure of Discounted Future Net Cash Flows (unaudited) Statement of Financial Accounting Standards No. 69 ("SFAS 69") prescribes guidelines for computing a standardized measure of future net cash flows and changes therein relating to estimated proved reserves. The Company has followed...

  • Page 74
    ... flows relating to proved oil and gas reserves based on the standardized measure prescribed in SFAS 69: December 31, 1999 U.S. Canada (S in thousands) $ Combined $2,993,169 (866,895) (230,871) (249.276) 1,646,127 (639.5 15) Future cash inflows (a) Future production costs Future development costs...

  • Page 75
    (d) Calculated using weighted average prices of $18.38 per barrel of oil and $2.12 per Mcf of gas. The principal sources of change in the standardized measure of discounted future net cash flows are as follows: December 31, 1999 U.S. 507,127 (209,039) 320,123 200,787 (15,011) 14,114 88,250 66,895 (...

  • Page 76
    ... operating costs. Quarterly Financial Data (unaudited) Summarized unaudited quarterly financial data for 1999 and 1998 are as follows ($ in thousands except per share data): March 31, Net sales Gross profit (loss) Net income (loss) Net income (loss) per share: Basic Diluted 1999 Quarters Ended...

  • Page 77
    ... in preferred stock of Gothic Energy Corporation, and the remainder was related to certain of the Company's gas processing and transportation assets located in Louisiana. 14. Acquisitions During 1998, the Company acquired approximately 750 Bcfe of proved reserves through mergers or through...

  • Page 78
    ... first right to drill, complete and operate wells in certain areas covered by the joint venture, Chesapeake granted Gothic the option to redeem its investment in $50 million liquidation amount of Gothic Series B preferred stock, including dividends in arrears, and 2.4 million shares of Gothic common...

  • Page 79
    Schedule II CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS (S in thousands) Additions Charged Charged to Other to Expense Accounts $ $ $ 9 $ Description December 31, 1999: Allowance for doubtful accounts Valuation allowance for deferred tax assets December 31, 1998...

  • Page 80
    ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Not applicable. PART III ITEM 10. Directors and Executive Officers of the Registrant The information called for by this Item 10 is incorporated herein by reference to the definitive Proxy Statement to be ...

  • Page 81
    ...00 1-13726). 4.1 Indenture dated as of March 15, 1997 among the Registrant, as issuer, Chesapeake Operating, Inc., Chesapeake Gas Development Corporation and Chesapeake Exploration Limited Partnership, as Subsidiary Guarantors, and United States Trust Company of New York, as Trustee, with respect...

  • Page 82
    ... to Exhibit 10.2.1 to Registrant's quarterly report on Form 10-Q for the quarter ended June 30, 1999. First Amendment to the Amended and Restated Employment Agreement dated as of December 31, 1998 between Tom L. Ward and Chesapeake Energy Corporation. Incorporated herein by reference to Exhibit...

  • Page 83
    ... Mark Lester and Chesapeake Energy Corporation. Incorporated herein by reference to Exhibit 10.2.5 to Registrant's annual report on Form 10-K for the year ended June 30, 1997. 10.2.6 Employment Agreement dated as of July 1, 1997 between Henry J. Hood and Chesapeake Energy Corporation. Incorporated...

  • Page 84
    ... report on Form 8-K reporting under Item 5 that the Company issued a press release announcing record earnings and cash flow for the third quarter 1999. On December 8, 1999, the Company filed a current report on Form 8-K reporting under Item 5 that the Company issued a press release reporting...

  • Page 85
    ... dates indicated. Signature Is! AUBREY K. McCLENDON Aubrey K. McClendon Title Date March 30, 2000 Chairman of the Board, Chief Executive Officer and Director (Principal Executive Officer) President, Chief Operating Officer and Director (Principal Executive Officer) /5/ TOM L. WARD Tom L. Ward...

  • Page 86
    ... 400 Oklahoma City, Oklahoma 73102 (405) 236-5800 Stock Transfer Agent and Registrar UMB Bank, N.A. 928 Grand Blvd. Kansas City, Missouri 64106 (816) 860-7760 United States Trust Company of New York communication concerning the transfer of shares, lost certificates, duplicate mailings or change...

  • Page 87
    CHESAPEAKE ENERGY CORPORATION 6100 North Western Avenue Oklahoma City, Oklahoma 73118 www.chkenergy.com