Chesapeake Energy 2003 Annual Report Download

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Chesapeake Energy Corporation
Annual Report
2003

Table of contents

  • Page 1
    2003 Chesapeake Energy Corporation Annual Report

  • Page 2
    ... fifth largest independent producer of natural gas in the U.S. Chesapeake is the second most active driller of new wells in the U.S. Chesapeake is dedicated to delivering industry-leading performance to our shareholders. In 2003, we delivered a stock price increase of 75% and during the past ten...

  • Page 3
    ... before cumulative effect of accounting change Cumulative effect of accounting change Cash dividends declared per common share Years ended December 31,d 2003 $ 1,296,822 420,610... undiscounted Oil price used in reserve report (per bbl) Gas price used in reserve report (per mcf) Oil production (mbbls...

  • Page 4
    dd Six months ended December 31 Years ended June 30 1999 $ 280,445 74,501 - 354,946 46,298 13,264 13,477 - 71,533 95,044 7,810 - - - 247,426 107,520 8,562 (81,052) - (72,490) 35,030 - 1,764 33,266 - 33,266 (16,711) - $ 16,555 $ 0.17 - $ 0.17 $ 0.16 - $ 0.16 - 1998 $ 256,887 121,059 - 377,946 51,...

  • Page 5
    ... producer and driller of new wells in the Mid-Continent - the third largest gas supply region in the country. We have high-quality, geographically-focused assets with one of the best operating cost structures in our peer group. Chesapeake has recorded the 13th best stock price performance among all...

  • Page 6
    ... of 1,345%, or a compound average annual increase of 71%. Chesapeake Energy Corporation Annual Report 2003 We are also happy to note that earlier this month, the Wall Street Journal reported that Chesapeake recorded the 13th best stock price performance among all U.S. public companies during the...

  • Page 7
    ... IPO date) through March 31, 2004 Chesapeake $1,007.52 Peers* $357.82 CHK Outperforms by 182% Dow Jones $303.15 CHK Outperforms by 232% NASDAQ $281.33 CHK Outperforms by 258% Chesapeake Energy Corporation Annual Report 2003 S&P $250.51 CHK Outperforms by 302% * Peers = APA, APC, BR, COG, DVN, EOG...

  • Page 8
    ...'s successful regional consolidation strategy and advanced technology drilling expertise can be readily applied to these new areas as well. Performance Through High Quality Acquisitions The successful execution of our regional consolidation program has been one of the primary drivers of the company...

  • Page 9
    ... of capital, increased shareholder confidence in the company's ability to create value even when commodity prices are unfavorable and a higher trading multiple for our common stock. One of our key financial goals continues to be reducing the 5 Chesapeake Energy Corporation Annual Report 2003

  • Page 10
    ... was the most active driller of deep natural gas wells below 15,000 feet in the U.S. last year. The Mayfield area of western Oklahoma was an area of especially significant deep drilling success in 2003 and remains an area of great promise in 2004. 6 Chesapeake Energy Corporation Annual Report 2003

  • Page 11
    ... depreciation, depletion and amortization expense. ** Operating cash flow is a non-GAAP measure that represents net cash provided by operating activities before changes in assets and liabilities. 7 Chesapeake Energy Corporation Annual Report 2003 Tom L. Ward President and Chief Operating Officer

  • Page 12
    ...Accounting Officer Chesapeake Energy Corporation Annual Report 2003 J. Mark Lester Senior Vice President - Exploration Stephen W. Miller Senior Vice President - Drilling Thomas S. Price, Jr. Senior Vice President - Investor and Government Relations Marcus C. Rowland Executive Vice President and...

  • Page 13
    ... Kinney Louthan Aubrey McClendon Tom Ward Patsy Watters 1990 (6) Colley Andrews Kevin Decker David Higgins Linda Peterburs Cindi Williams Jeff Williams Leon Carmona Ilan Cathey Melissa Chambers Dale Cook Ken Davidson Ted Davis Mandy Duane Kyle Essmiller Steve Gaskins Jennifer Grigsby Cliff Hanoch...

  • Page 14
    ... Performance 2003 Chesapeake Energy Corporation Annual Report 2003 (393) Ronald Aaron Pat Abla Jennifer ...Crain Patrick Crain Brian Culberson Cathy Curtis Ryan Curtis Jennifer Davis Kasey Davis Greg Day Garry Diamond Elizabeth Drake Dustin Drew Derek Dunlap Paul Eagan Penny Elkins Johnson Julie...

  • Page 15
    ...on July 15 and October 15. Corporate Headquarters 6100 North Western Avenue Oklahoma City, Oklahoma 73118 (405) 848-8000 Independent Public Accountants PricewaterhouseCoopers LLP 6120 S. Yale, Suite 1850 Tulsa, Oklahoma 74136 (918) 524-1200 Stock Transfer Agent and Registrar UMB Bank, N.A. 928 Grand...

  • Page 16
    Chesapeake Energy Corporation 6100 North Western Avenue Oklahoma City, Oklahoma 73118 www.chkenergy.com