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CHARLESTON, W. Va.--(BUSINESS WIRE)--Aug. 23, 2007--Chesapeake
Energy Corporation (NYSE:CHK) today unveiled plans for a new Eastern
Regional Headquarters building to be constructed at the Northgate
Business Park in Charleston, West Virginia. Chesapeake entered the
community through its November 2005 $2.2 billion purchase of Columbia
Natural Resources and is now the largest leasehold owner, the most
active driller and the second largest natural gas producer in the
Appalachian Basin. The company's extensive Appalachian Basin
operations stretch from the Finger Lakes region of southern New York
all the way south to central Alabama, with the heart of the company's
operations focused on West Virginia.
Chesapeake employs approximately 6,000 employees in 19 states in
the U.S., and of those, 535 work in the Appalachian Basin and 220 work
in Charleston. In the 21 months since Chesapeake acquired CNR,
Chesapeake has created more than 200 new Appalachian Basin jobs, of
which 180 have been in West Virginia. More job creation is expected as
the company continues to expand its Appalachian operations and
prepares to move into its new headquarters in late 2009.
Aubrey K. McClendon, Chief Executive Officer of Chesapeake, said,
"I am committed to our Eastern Division Operations and commend
Governor Manchin on his efforts to improve the business climate in the
state of West Virginia. Further, I possess a deep and unwavering
conviction that the Appalachian Basin is rich in undiscovered reserves
of natural gas. We will work hard every day to discover and develop it
from new formations and unexplored depths using both conventional and
unconventional drilling and completion techniques."
McClendon continued, "The building's design is very modern and has
been inspired by the art and science of natural gas exploration. It is
semi-circular with its design reflecting the rotation of a drillbit.
Green space and parking will complete the circle. Elliott +
Associates, architects from Oklahoma City, designed the building and
they will be ably assisted by Silling Associates, Inc. from
Charleston. The building will be certified 'green' under the LEED
principles of environmental design. Elements of the green building
certification include heating, cooling and lighting efficiency and
storm water management."
"Our company is built on doing the right thing for the
environment," said Mike John, Chesapeake's Vice President of
Operations - Eastern Division. "Our core business is exploring for and
producing natural gas, a clean-burning, secure, domestically-produced
fuel found in abundance right here in West Virginia. It has instilled
in us a desire to consistently make decisions that protect the
environment."
John commented further, "I believe the unveiling of the plans for
our new regional headquarters is a tribute to Chesapeake's employees
in West Virginia and throughout the Appalachian Basin. You find
natural gas with talent, technology, and perseverance. There is no
question the quality of workers in West Virginia and across Appalachia
played a big part in the decision by Chesapeake to locate its Eastern
Division headquarters right here in Charleston."
During the unveiling celebration, Chesapeake announced a number of
charitable gifts to local organizations including: Habitat for
Humanity, the Nature Conservancy, Vision Shared and Leadership West
Virginia. "We like to be a force for positive change in the
communities where we operate. We know that these organizations build
sustainable growth and goodwill for West Virginia and we are happy to
assist them meet their missions," said Tom Price, Jr., Chesapeake's
Senior Vice President of Corporate Development. "We are a company that
cares deeply about people and strives to enhance the quality of life
in all those areas where we operate."
Chesapeake Energy Corporation is the largest independent and
third-largest overall producer of natural gas in the U.S.
Headquartered in Oklahoma City, the company's operations are focused
on exploratory and developmental drilling and corporate and property
acquisitions in the Mid-Continent, Fort Worth Barnett Shale,
Fayetteville Shale, Permian Basin, Delaware Basin, South Texas, Texas
Gulf Coast, Ark-La-Tex and Appalachian Basin regions of the United
States.
CONTACT: Chesapeake Energy Corporation
Scott Rotruck
304-353-5058
Vice President, Corporate Development
srotruck@chkenergy.com
SOURCE: Chesapeake Energy Corporation