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Chesapeake Energy Corporation
Annual Report 2002
Celebrating OurTenthYear

Table of contents

  • Page 1
    Chesapeake Energy Corporation Annual Report 2002 Celebrating OurT enthYear

  • Page 2
    ... the lowest operating costs in our peer group Our management team's commitment to building shareholder value is ensured by a 29 million share equity stake Chesapeake Energy Corporation Annual Report 2002 Celebrating OurTenth Year 2000 Annual Report 2002 2001 2000 1999 1998 1997 Transition...

  • Page 3
    Chesapeake 2002 Annual Report 1 Selected Financial Data Financial Data ($ in thousands, except per share data) 2002 2001 $ ...4.56 $ 4.56 Oil and gas sales $ 655,454 Risk management income (loss) (88,018) Oil and gas marketing sales 170,315 Total revenues 737,751 Production expenses 98,191 Production...

  • Page 4
    ... delivered a total return to shareholders of 482%, a Compounded Annual Growth Rate (CAGR) of 20%. business strategy has enabled Chesapeake to build unique economies of scale, an unrivaled backlog of drilling opportunities and the most accomplished Mid-Continent team of land, geoscience, engineering...

  • Page 5
    ... land inventory, Chesapeake's technical teams have identified more than five years of future drilling opportunities at our current rate of drilling. Chesapeake is unique: a prospect-rich company in an increasingly prospect-poor industry. Chesapeake's Growth Through Acquisitions Since January 1998...

  • Page 6
    ... gas prices, Chesapeake's stock fell during 1997 through early 1999 reaching a low of $0.63 per share. Facing the need to redefine Chesapeake's strategy and underpin the company with longer-lived assets and lower-risk drilling opportunities, we decided to return to our roots in Oklahoma as Mid...

  • Page 7
    ... drilling and acquisition programs, high-quality assets, low operating costs and high profit margins should enable Chesapeake to continue generating superior performance for its shareholders in the years ahead. Best regards, Aubrey K. McClendon Chairman and Chief Executive Officer Tom L. Ward...

  • Page 8
    Chesapeake 2002 Annual Report A Ten Year Retrospective On February 4, 1993, Chesapeake priced its IPO at a split-adjusted $1.33 per share. The timeline below shows the company's history through its stock price changes with key events noted and through excerpts from our letters to shareholders over...

  • Page 9
    ... Annual Report introduced Chesapeake's new logo 'Natural Gas, Natural Advantages' for the first time. These words convey the simple, but powerful twin components of our image and message - natural gas and Chesapeake enjoy many natural advantages over other fuels and other companies." 481 employees...

  • Page 10
    6 Chesapeake 2002 Annual Report Directors and Officers Directors Aubrey K. McClendon Chairman of the Board and Chief Executive Officer Oklahoma City, Oklahoma Tom L. Ward President and Chief Operating Officer Oklahoma City, Oklahoma E. F. Heizer, Jr. Private Investor Chicago, Illinois Breene M....

  • Page 11
    Chesapeake 2002 Annual Report 7 T eam Chesapeake 802 Strong 1989 (7) Pat Goode Cheryl Hamilton Mark Lester Kinney Louthan Aubrey McClendon Tom Ward Patsy Watters 1990 (6) Colley Andrews Kevin Decker David Higgins Linda Peterburs Cindi Williams Jeff Williams 1991 (12) Steve Dixon Marilyn Hooser Wes ...

  • Page 12
    ...Chesapeake 2002 Annual Report T eam Chesapeake...Tom Brennan Von Brinkley Deanne Brooks Marty Byrd Mandy Calderon Carlos Caraveo Denise Carr John Carter Keith Case Kristi Clemmens Tim Cloud Kyle Cole Juanita Cooper Jim Corsoro Catherine Crabtree Leigh Crain...Sipe Dee Smith Patrick Smith Catherine Snyder...

  • Page 13
    ...Suite 1850 Tulsa, Oklahoma 74136 (918) 524-1200 Stock Transfer Agent and Registrar UMB Bank, N.A. 928 Grand Blvd. Kansas City, Missouri 64106 (816) 860-7411 Communication concerning the transfer of shares, lost certificates, duplicate mailings or change of address notifications should be directed to...