Chesapeake Energy 2007 Annual Report Download - page 40
Download and view the complete annual report
Please find page 40 of the 2007 Chesapeake Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.!& 1VSaO^SOYS3\S`Ug1]`^]`ObW]\
5O`g/\bV]\g
@O\Rg/\bV]\g
8SVO\/\b]\
:W\RO/`O[PcZO
2Oe\/`Wa[S\RSh
:SS/`\]ZR
2OdWR/bVO
;Obb/bYW\a
8STT`Sg/bbSPS``g
@gO\/beSZZ
@SPSQQO/dO\b
0`WO\0OWZSg
:SWUV/\\0OWZSg
;O`bg0OW\
9gZS0OYS`
BW\YW0OYS`
;SZdW\0OZR`WRUS
;WZZa0OZS
5O`g0O`\O`R
@WQY0O`\Sa
;O`Y0O``W\US`
AVOe\0O``]\
9O`S\0O`bZSg
1]Rg0O`b]\
0]P0O`g
0SdS`Zg0ObbWSab
0]P0OfS\ROZS
2cabW\0OfbS`
:g\ROZ0SOaZSg
BV][Oa0SObg
8]S0SOcR]W\
BgZS`0SOdS`
8]V\0SQYeWbV
9SWbV0SZZ
EWZZWO[0S\\Sbb
9S``g0W`R
1]`\SZWca0W`[W\UVO[
/\R`Se0ZOQY
8OQYWS0ZOQY
9S\\SbV0ZOQYPc`\
0ZOYS0ZOQYeSZZ
8]\0ZOYS`
/ZWaO0ZSdW\a
@]\0ZWaa
1]\\WS0Z]aa
2]b0ZgbVS
:S]\O`R0]SQY[O\8`
<WQY0]SQY[O\
1VO`ZWS0]UUa
BW[]bVg0]VO\\O\
@Og[]\R0]V\Sb
9>0]ZO\R
1]`Sg0]ZRW\U
9S\hW0]\R
@]\\WS0]\\Sbb
/RO[0]a
8Oa]\0]aaO`R
/[PS`0]abWQ
BW[0]abWQY
;O`Y0]bb`SZZ
8]S0`ORT]`R
3dS`Sbb0`ORZSg
9S\\g0`OUU
2OdWR0`O\VO[
2SP`O0`O\VO[
5OWZ0`O\VO[
2SZ0`OhSOZ
1V`Wa0`S\\O\
@O\RSZ0`WUUa
8]`RO\0`W[
1O\Rg0`W\SUO`
2S\\Wa0`]QY
0`S\b0`][Z]e
EWZT`SR0`]caaO`R
2]\\O0`]e\
9SWbV0`]e\
@WQVO`R0`]e\
9ObVg0cQYZSg
;WQVOSZ0cQY\S`
<WQV]ZS0cS`a[SgS`
DWQYW0c[^Oa
@]R\Sg0c`USaa
AbSdS0c`\Sbb
/PWSZ0c`cOb]
@]\\WS0g\c[
5OdO\0g`R
AYgS1OZZO\bW\S
2S`WQ1O\O`g
3Z[S`1O\O`g
;WQVSZZS1O\b`SZZ
AbSdS1O\b`SZZ
>Ob`WQY1O`Sg
AWZOa1O`\Sa
081O`\Sg
2S\\Wa1O`^S\bS`
;S\Rg1O`^S\bS`
AVO\\]\1O``W]\
1ObVg1O`bS`
9gZS1O`bS`
HcZS[O1OaOa
1OaaWS1Oab]
:c/\\1VO\QS
2O``SZ1VO\RZS`
2]\OZR1VO\Sg
1VOR1VO^[O\
@caV1VO^[O\
0WZZg1VWZRS`a
/\WbO1VW\
@WQVO`R1VW\
<WYYW1Vc`QV:S[]\
1ObVg1ZO`Y
1VO`ZSa1ZO`Y
:W\RO1ZO`Y
@W^1ZO`g
8O[Sa1ZOg
2O\O1ZOgb]\
3ZWhOPSbV1ZS[
8OQY1ZS[S\b8`
0`gO\1ZSdW\US`
>OcZ1]TTSg
8OQYWS1]ZS
811]ZS[O\
@]PS`bE1]ZS[O\
8]V\1]ZZSbbS
9SdW\1]ZZW\a
BWTTO\g1]ZZW\a
1V`WabWO\1][Pa
2]cUZOa1][Pa
5O`g1][^b]\
;WQVSZS1][^b]\
0WZZ1]\\O`R
>OcZ1]\eOg
AbS^VS\1]]Y
BW[1]]^S`
AbSdS1]^SZO\R
>VgZZWa1]^ZSg
1c`bWa1]`Q]`O\
;W`O\RO1]`\SZWca
5ZS\\1]`\SbbS
5S`]\1]bbO[
BW[1]bb`SZZ
@OQVSZ1]cQV
/81]f
3ZaWS1]f
9VO`W1]f
;SZW\RO1]f
AOP`W\O1]f
;O`WaO1`OWU
2S\\Wa1`Wa^
@]\\WS1`]eRS`
DS`\]\1`c[[777
8]S1`ch777
8]aVcO1`gabOZ
1VO`Z]bbS1cZZWTS`
:O``g1c\\W\UVO[
@]\\WS1c\\W\UVO[
/`bVc`1c``g
0WZZg1c``g
8OYS1c``g
2OdWR1cb`WUVb
7`S\S2O@]QVO
0]2O\WSZ
1V`Wabg2O`S
4`SR2OcUVS`bg
2]\OZR2OdSg
0`gQS2OdWa
3[WZg2OdWa
8OQ]P2OdWa
@]R2OdWa
@]US`2OdWa
@WQYg2Oe
AQ]bb2SZO\Sg
;O`W]2SZO]
8S`S[g2S\b]\
/ZWaaO2SDOcUV\
/ZSbVO2SeP`S9W\U
6O\Y2SEWbb
0`S\b2Wf]\
;]\bg2Wf]\
2O``SZZ2]ZZS\a
>SbS2][W\UcSh
BgZS`2]]ZS\
0O`\Sg2]aWS`
Bg`SZ2]ba]\
8]aV2`Se`g
AbS^VS\2c0]Wa
2O\S2c\SUO\
8S``g2c\ZO^
2cabW\2c`YSS
6]cab]\3OUZSab]\
8]S3O`ZSg
/\bV]\g3O`\Sab
;WYS3ReO`Ra
EWZZWO[3ReO`Ra
B`OdWa3U\S`
/[PS`3WQVZS`
3`WQ3ZZS`
@]PS`b3ZZW]bb
0`gO\3ZZWa
:W\RO3ZZWa
@]P3ZZWa
9Og3Z`]R
/ZO\3ZaeWQY
@WQYg3\RWQ]bb
/\UWS3\UZO\R
@O\cZT]3aQO[WZZO
8]\3a_cWPSZ
8W[3abS^
5O\b3abSa
2OdWR3cRSg
AbOQSg3dO\a
AO`O3dS`Sbb
AbOQg3dSbb
2SO\\O4O`[S`
;O`Qg4O``O\R
;WYS4SOZg
914S`Uca]\
B]\gO4S`Uca]\
;O`Y4S`[O\
1]`W2Oe\4WSZRa
5`]dS`4WSZRa
@]US`4WSZRa
9W^4WTS
0`OR4W\ZSg
2]\OZR4WaVS`
2]gZS4WaVS`
8STT:4WaVS`
;O`Q4ZSWaQVS`
/RO[4Z]`Sa
:S\RSZ4Z]c`\]g
;SO`O4]`S[O\
AVS`[O\4]`[VOZa
2O`QWS4]abS`
8Oa]\4]c`\WS`
8]V\4`SS[O\
@Og4`S\QV
@WQYg4`S\QV
DWQb]`4`WOa
0`Sb4`WS
AQ]bb4`WSR[O\
;WYS4`WS\R
@]R\Sg4`WS\R
/\Rg4`WbaQV
@OQVOSZ4cUObS
B]Pg4cZZP`WUVb
9SdW\4c``
2S\\Wa5OUZWO`RW
;WQVOSZ5OZZ]
0SOc5OZZ]eOg
1ZSOP5O[PZS
/Z[O5O`QWO
:]`W5O`QWO
B]\gO5O``Sbb
AOdO\OV5O``Wa]\
4`SR5ObSa
:Wh5S`VO`R
:]`SbbO5WPSZg]c
4`O\Y5WPa]\
8]aV5WPa]\
DW\QS\b5WPa]\
8]V\5WZPS`b
@V]\RO5WZSa
9SZZg5WZYS`a]\
2OdWR5WZZWO[
8S\\WTS`5WZZWO[
9SWbV5ZOaU]e
2OdWR5ZOaa
HO\S5ZOaaQ]QY
8Oa]\5ZOaaSg
;WbQV5]PZS
2OdS5]QYS
0`WO\5]W\a
6SObVS`5][Sh
/ZSf5]\hOZSh
;O`bW\5]\hOZSh
1O`]ZW\S5]]ROZZ
>OcZO5`OQS
0`WO\5`OST\Wbh
2O\WSZ5`OVO[
6S\`g5`O\OR]a
8Og5`Og
9SZZSg5`Og
9S\\SbV5`Og
AbS^VS\5`Og
@]R\Sg5`SObV]caS
;O`Qca15`SS\
AVO\S5`SS\
B`OQg5`SS\
:g\SbbS5`SS\S
0`ORg5`SS`
3RRg5`Sg
2OdWR5`WT¿bV
5`SU5`][ORhYW
@]\\WS5cS``S`]
9O`O5cWZPSOc
2OdS5c[
B]RR5c[
8W[5c[[
@]R\Sg5c\bS`
AQ]bb5c\eOZZ
1SQWZ5cbWS``Sh
@]PS`b]5cbWS``Sh
8O`OR5cg\Sa
8]V\5eg\\
>Obbg6OTTSg
1c`bWa6OUS\
BOZ[ORUS6OUS`
:SO6OW\
@]\OZR6OZPS`b
2]\\g6OZS
5O``Sbb6OZS
>OcZ6OZS
0O`P6OZZ
0`WRUSbbS6OZZ
2]\6OZZ
:g\\6OZZ
;O`Qca6OZZ
;WYS6OZZ
8]S6OZabSOR
EVSSZS`6O[[Wb
2OdS6O\Q]QY
0cRRg6O`PWa]\
@cabg6O`RW\
:]\\WS6O`Z
2SeSg6O`ZSaa
;WYS6O`ZSaa
<ObVO\6O`ZSaa
AVO\\O6O`[]\
3O`Z6O``Wa
;WQVSZZS6O``Wa
>VgZZWa6O``Wa
B][6O``Wa
:OB]\gO6O``Wa]\
2S\WaS6O`b
9S\\SbV6O`b¿SZR
AbSdS6O`dObV
@O\Rg6Ob¿SZR
;SZWaaO6Ob¿SZR
/bYW\a]\
2O\WSZ6ObbOeOg
5OgZ]\6OdSZ
BgZS`6OeYW\a
8]S6Oga
EWZZWO[6Oga
0`WO\6SQYS`b
4`SR6SW\
8cabW\6SW\YS\
8WZZ6SWbS`b
9W[PS`Zg6S[[W\Ua]\
2O\6S\RS`a]\
2O`W\6S`\R]\
1`OWU6WQYa
4S`\6WQYa
5O``g6WQYa
3`WQ6WUUW\a
8]V\6WUV¿SZR
BV][Oa6WZPc`\777
2]\\O6WZRS`P`O\Rb
@WQY6WZZ
BWTTO\g6WZZ
9Og6WZZOP]ZR
1VS`g\6WZZS
8cO\6W\]X]aO
/`bVc`6]SV\S
5O`g6]VS\PS`US`
@Og6]ZRS\
1OaSg6]ZRS`
BV][Oa6]ZZO\R
<ObVO\6]ZZ]eOg
>Ob6]Z[O\
/ZT`SR6]]^S`8`
@O\Rg6]]^S`
2`Se6]^YW\a
2S\dS`6]`\
8]O\\6]`\
;WbQVSZZ6]`\
BS`SaO6]`\POQY
8W[[g6]caS
BW[86]caS
BW[;6]caS
:W\RaOg6]cab]\
0`WO\6]eO`R
2]gZS6]eO`R
9SZZW6]eO`R
5`SU6]eSZZ
A]\\g6b]]\
>OcZ6cRUW\a
8STT6cSZaYO[^
8O\Sb6cTT[O\
1V`WabW\S6cUVSa
:O``g6cUVSa
@]R\Sg6cUVSa
HOQVO`g6c[^V`Sg
@]PS`b6c`ab
/[g6cbQVW\a]\
8Oa]\7ZZS
AchWS7\U`O[
0Sbag7`Sa]\
EWZZWO[7`Sa]\
0]PPg7a]\
8]V\\g7a]\
0`gO\8OQYa]\
1]`g8OQYa]\
;WYS8OQYa]\
9`Wa8O\hS\
;WYS8]V\
2O\WSZ8]V\a8`
0`OgR\8]V\a]\
0`S\b8]V\a]\
0`cQS8]V\a]\
5S]`US8]V\a]\
;O`Y8]V\a]\
>88]V\a]\
AbSdSA8]V\a]\
9SdW\8]V\ab]\
:]\\WS8]V\ab]\
2OdWRA8]\Sa
4`SR8]\Sa
;O`Y8]\Sa
>Ob8]\Sa
5`SU8]`RO\
8SaaWQO8]`\a
4`O\QSa8]eS`a
8]S8cO`Sh
:O``g8cabWQS
3`W\9OWaS`
0`O\R]\9O[[S`S`
9SdW\9O^^Sa
3O`Z9O`WQYV]TT
@]PS`b9SS\O\
8]V\9SZZS`
3O`\Sab9SZ]cUV
9ObS9SZaS`
0`OR9S[^
@]\9S\R`WQY
1`gabOZ9S\\SRg
2]\9S`Pg
4`O\Y9SbbS`Zg
;WYS9Sg
BV][Oa9WRR
1V]^^S`9W\U8`
2]\\O9W\U
5O`g9W\U
0WZZ9W`Y
@gO\9ZSW\
;O`Y9\O^^
0`OR9\WUVb
8]\ObVO\9\WUVb
/\R`Se9]QY
5S]`US9]VZV]TS`777
8S\\WTS`9`OahSeaYW
@cabg9`SWhS\PSQY
9W[9`S[S`
9`Wa9cSV\
:W\RO9c`bh
8W[9eOa\g
/\bV]\g:OTTS`bg
0WZZ:OTTS`bg
>OcZ:OTTS`bg
8S\\WS:O[PS`b
AWR\Sg:O\S
9O`S\:O\UZSg
BS``g:ObVO[
6S\`g:ObW[S`
;W\RW:OcRS`ROZS
;WYS:OcS
EWZZ:OeZS`
@]\\WS:Oe`S\QS
5W\O:Oea]\
8]aVcO:Oea]\
0`OR:Of
@]PW\:Og\S
8S`S[g:SS
:O``g:SS
9SWbV:SV[O\
0`OR:S[]\
8]S:S[]\
8O[Sa:S\VO`b
AVO\\]\:S\VO`b
;O`bg:SaZSg
8]V\>OcZ:SaZWS
2cabW\:SeWa
/Z:SgdO
;O`bVO:ShO[O
EOg\S:WUVb8`
BS``W:W\RaSg
2O\:]^ObO
0SQYg:]`b]\
;WQVOSZ:]dSZOQS
;WQVOSZ:]dS`]
/ZWa]\:]eS
8S``g:]eS
8STT:c[^YW\
8Oa]\:c\Rg
>OcZ:c^O`Rca
AVOc\O:g]\
ASO\;OQWOa
/\UWS;OQYSg
HOQV;OZQVW
0SbV;OZZ]`g
1`OWU;O\OcUV
0]PPW;O\]a
/[g;O`Pc`US`
5S]`US;O`Qc[
AVO\\]\;O`Qc[
;S``g;O`Ya
@]PS`b;O`aV
8OQS;O`aVOZZ
0WZZg;O`bW\
2O\\g;O`bW\
2SP;O`bW\
8O[Sa;O`bW\
@O\Rg;O`bW\
@]PS`b;O`bW\
BV][Oa/;O`bW\
1VS[O;O`bW\Sh
6][S`;O`bW\Sh
0WZZ;ObVSea
BV][a]\;ObVSea
;OQY;ObbVSea
0`cQS;ObbVSg
8]aVcO;OfSg
8STT;OfeSZZ
;WYS;Og
8O[Sa;Og\O`R
/\R`SO;Oga
8]V\>OcZ;Oga
DWYYW;Q0`WRS
DWQYW;Q1OPS
9Ob`W\O;Q1OaZW\
2Of;Q1OcZSg
1V`Wa;Q1ZOW\S
;WYS;Q1ZSZZO\
8OQYWS;Q1][Oa
BV][Oa;Q1][Oa
;S`W;Q1]`YZS
2OdS;Q1]`[WQY
8]V\\g;Q1]g
@]QYg;Q1]g
AbSdS;Q1`OQYS\
5S\S;Q1cbQVS]\
1OaSg;Q2]\]cUV
DO\SaaO;Q2]cUOZ
EWZZWO[;Q4ORRS\
BS``g;Q5`ORg
8STT;Q5cW`S
2]\\g;Q6S\`g
/[g;Q7ZVS\\g
AbOQg;Q9Og
/`ZWS;Q9SS
9SWbV;Q9SS
8S``g;Q9S\hWS
<WQY;Q9S\hWS
0WZZ;Q9W\\Sg
2]cU;Q>VS`a]\
2W`Y;Q@Sg\]ZRa
AbS^VO\WS;QDOg
2]\\WS;SORS
2S`SY;SOR]`
;SZWaaO;SSYS`
2O\;SZQVS`
0O`P;SZb]\
0`cQS;SZb]\
=aQO`;S\R]hO
AOf]\;SaO
1OaSg;WZZS`
1ObVg;WZZS`
2O`gZ;WZZS`
8STT;WZZS`
9SZZW;WZZS`
;O`Y;WZZS`
3ZWUOV;WZZa
B][;WZZa
;OgO;W[a
9gZS;W\gO`R
5`SU;WbQVc[
8STT;]PZSg
:SWaO;]\Y
4`O\YWS;]\bSh
8W[;]]`S
;WQVOSZ:;]]`S
AVS``WS;]]`S
BS`SaO;]]`S
2OdS;]`SV]caS
8]aS;]`S\]777
>VWZ;]aS`
8W[;]bbSaVSO`R
2]cU;cZZW\a
8OW[S;c\]h
2O\;c`Sb
ASO\;c`^Vg
8cabW\;c``Og
AbSdS;gS`a
0VOdW\<OWY
BW[<O\QS
BW[<O^WS`
@cabg<OaV
8O[Sa<SOZ8`
AQ]bb<SOaS
B][[g<SObVS`g
2]\\O<SSZ
:WaO<SZa]\
8O``]R<SePS``g
9S\O<Se[O\
@]US`<Sea][S
@]PS`b<WOdSh
AbOQWS<WQV]Za]\
AWR<WZSa
8cabW\<W[`]R
9SZZg<Wf
1c`bWa<Wf]\8`
9S\\SbV<]ZO\
5`SU<]`bVS`\
@]R\Sg=¸0`WS\
/RO[=ZWdO`Sa8`
;WQVSZS=ZWdS`
8]V\=¸<SOZ
2O`O=\Sg
1VS`gZ=`[ab]\
1VO`ZSa=aP]`\
AVO\S=aP]`\
0WZZg=aS\R]bb
0`gO\=bb
9O`g=bb
9ObWS=dS`b]\
B]\g>ORUSbb
8]S>OSbh]ZR
E`Og>OW\S
0WZZ>O`YS`
;WQVOSZE>O`YS`
B]\W>O`Ya>Og\S
B`WaVO>ObS
6]]b>ObbS`a]\
9SdW\>ObbS`a]\
9S\\SbV>Og\S
2SP]`OV>Og\S
AVS`e]]R
<WQYg>SOQ]QY
B][>S^^S`
1VO`ZSa>S`Sh
>VWZW^>S`[S\bS`
0`]]Ya>S``g
5S\O>S``g
8]Rg>S``g
;WYS>S``g
2S\dO`R>SbS`a
8]S>SbS`a]\
2]\OZR>Sbh]ZR8`
9SdW\>¿abS`
5`SU>WQVZS`
;WQVOSZ>WQYS\a
AcaO\>WQYS\a
8]S>WS`QS
0WZZg>WZZO`a
8]aV>Wbba
9gZS>Zg
AbSdS>]S8`
6O`]ZR>]`bS`
8]V\\g>]`bS`
:S]\>]bbS`
8O`SR>]c\Ra
1O`O>]c`b]`YO\
:g\\>]eSZZ
:O``g>`ObS`
@SQ]>`SSQS
/RO[>`WQS
0]P>`WQS
8]V\>`WQVO`R
8S\\WTS`>`W\QS
;O`bW\>`]dW\QS
0]PPg>cb[O\
@O\Rg?cSS\
BS``g?cS\b`WZZ
/\\@ORQZWTT
8STT@OW\Sa
ESZR]\@OW\Sg
:O``g@OZSWUV
:cWa@O[W`Sh
9gZS@O\US
9SWbV@Oa[caaS\
0WZZg@ObZWTT
8S\\WTS`@ObZWTT
>SbS`@OcaQVS`
2]\\O@Og
8]V\@Og
:]\\WS@Og
DWQYWS@Og
5OdW\@SSR
9S\\SbV@SSR
;SZWaaO@SSR
<ObVO\@SSR
AbSdWS@SSR
0`WO\@SSRS`
:]``WS@S\T`]
>VWZW^@S\\S`
@8@SbhS`
<ObS@Scb]bO`
8Oa]\@Sg\]ZRa
8STTS`g@V]ORSa
AbSeO`b@V]ORSa
8S`OR@V]RSa
;WYS@WQS
@Og@WQS
0WZZ@WQVO`Ra]\
1VOR@WQVO`Ra]\
8]\W@WQVO`Ra]\
@OZ^V@WTÀS
8]V\RSbbO@WZSg
8]V\Sg@WZSg
AbSdS\@WZSg
0`O\R]\@W^ZSg
/8@Wa\S`
<OYWbO@Whh]
@]PS`b@]PWQVSOcf
0S\@]PW\a]\