Chesapeake Energy 2013 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2013 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.

Page out of 180

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180

20
Jerry L. Winchester, Senior Vice President - Oilfield Services and Chief Executive Officer of Chesapeake
Oilfield Services
Jerry L. Winchester, 55, has served as Chief Executive Officer of Chesapeake Oilfield Services, L.L.C., our oilfield
services subsidiary, since September 2011 and as Senior Vice President - Oilfield Services of the Company since
November 2011. Before joining Chesapeake, Mr. Winchester served as the Vice President - Boots & Coots for Halliburton
Company from November 2010 to September 2011. He was the President and Chief Executive Officer of Boots &
Coots International Well Control, Inc. (NYSE: WEL) from 1998 to 2010 before the company was acquired by Halliburton.
Prior to joining Boots & Coots, Mr. Winchester was employed by Halliburton from 1984 to 1998, where he served in a
variety of management and operational roles.
Employees
Chesapeake had approximately 10,800 employees as of December 31, 2013.
Glossary of Natural Gas and Oil Terms
The terms defined in this section are used throughout this report.
Bbl. One stock tank barrel, or 42 U.S. gallons liquid volume, used herein in reference to crude oil or other liquid
hydrocarbons.
Bboe. One billion barrels of oil equivalent.
Bcf. Billion cubic feet.
Bcfe. Billion cubic feet of natural gas equivalent.
Btu. British thermal unit, which is the heat required to raise the temperature of a one-pound mass of water from
58.5 to 59.5 degrees Fahrenheit.
Boe. Barrel of oil equivalent.
Commercial Well; Commercially Productive Well. A well which produces natural gas, NGL, and/or oil in sufficient
quantities such that proceeds from the sale of such production exceed production expenses and taxes.
Completion. The process of treating a drilled well followed by the installation of permanent equipment for the
production of natural gas, oil or NGL, or in the case of a dry well, the reporting to the appropriate authority that the well
has been abandoned.
Developed Acreage. The number of acres which are allocated or assignable to producing wells or wells capable
of production.
Development Well. A well drilled within the proved area of an oil or natural gas reservoir to the depth of a stratigraphic
horizon known to be productive.
Drilling Carry Obligation. An obligation of one party to pay certain well costs attributable to another party.
Dry Well. A well found to be incapable of producing either oil or natural gas in sufficient quantities to justify
completion as a natural gas or oil well.
Exploratory Well. A well drilled to find a new field or to find a new reservoir in a field previously found to be
productive of natural gas or oil in another reservoir.
Formation. A succession of sedimentary beds that were deposited under the same general geologic conditions.
Full Cost Pool. The full cost pool consists of all costs associated with property acquisition, 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 similar activities are not included.
Gross Acres or Gross Wells. The total acres or wells, as the case may be, in which a working interest is owned.
Horizontal Wells. Wells drilled at angles greater than 70 degrees from vertical.