Chesapeake Highlights

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We’re the second-largest producer of U.S. natural gas:  We’re the second-largest U.S. natural gas producer and we own an interest in approximately 45,000 natural gas and oil wells that are currently producing approximately 3.6 bcfe per day, 83% of which is natural gas.  

We’re the most active driller of new wells in the U.S.:  During the full year 2010, we continued the industry's most active drilling program, drilling 1,445 gross (938 net) operated wells and participated in another 1,586 gross (211 net) wells operated by other companies utilizing an average of 131 operated rigs and average of 123 non-operated rigs.  The company's drilling success rate was 98% for both company-operated wells and non-operated wells.

We’re positioned for top-tier growth:  From 2002 through 2010, we increased our proved reserves at a 29% annualized rate to 17.1 tcfe (based on SEC pricing), our average daily production at a 24% annualized rate to 2.8 bcfe/d and our fully diluted adjusted earnings per common share at a 23% annualized rate to $2.95 per share.

We’re the largest U.S. unconventional gas resource player:  We’ve built an industry-leading position of 15.0 million net acres of U.S. onshore leasehold and 30.1 million acres of 3-D seismic data. On this very large acreage position that includes the industry's leading unconventional gas resource base, we have identified an estimated 38,700 drilling opportunities, more than 20 years worth at current drilling levels, provides unmistakable evidence of our future growth capabilities.

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