Chesapeake Energy 2008 Annual Report Download - page 7

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Letter to Shareholders
7
A Chesapeake-operated rig
drills near downtown Fort
Worth. The best Barnett
Shale in the entire play lies
beneath urban and suburban
Tarrant County, home to
more than 60 municipalities
and 1.7 million people.
The Barnett Shale is currently the largest
and most prolifi c unconventional natural
gas resource play in the U.S.
Chesapeake entered the Barnett in 2001
and began acquiring additional leasehold
in early 2004
Chesapeake is the second-largest producer
of natural gas, the most active driller and
the largest leasehold owner in the Tier 1
sweet spot of Tarrant, Johnson and western
Dallas counties
Chesapeake owns approximately 310,000
net acres of leasehold in the Barnett
Chesapeake’s gross operated production
in the Barnett is now approximately 1.0 bcfe
per day, or about 1.6% of our nation’s
natural gas supply