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OKLAHOMA CITY--(BUSINESS WIRE)--Oct. 16, 2007--Chesapeake Energy
Corporation (NYSE:CHK) has joined the Environmental Protection
Agency's (EPA) Natural Gas STAR Program, a voluntary initiative
encouraging oil and natural gas companies to work with the government
and each other to reduce methane emissions by adopting environmentally
sound technologies and techniques.
Aubrey K. McClendon, Chesapeake's Chairman and CEO, commented, "We
have recognized for a number of years the importance of adopting
environmentally sound practices and technologies throughout our
operations. We have already adopted many of the practices promoted by
the EPA's Natural Gas STAR program. Chesapeake's participation
broadens our efforts to make sure we are doing everything we can to
reduce emissions and operate in a responsible way when it comes to the
environment. We are pleased to partner with the EPA and our energy
industry colleagues to help ensure our industry is a leader in
conducting business in an environmentally sound fashion."
Chesapeake has appointed Andrew McCalmont, a petroleum engineer
with 25 years in the energy industry, to head the company-wide program
as it relates to introducing and managing the EPA Natural Gas STAR
program throughout Chesapeake's 16-state operation. "As the nation's
largest independent producer of clean-burning natural gas, we felt the
program needed management focus and attention to ensure its success
across our vast operations. The appointment of Andrew gives our
company a very capable leader who can execute our methane emissions
reduction initiatives and monitor progress," McClendon said.
McCalmont commented, "The EPA's Natural Gas STAR Program
complements Chesapeake's commitment to a clean environment. The
program is an ideal avenue to share existing technologies and best
practices across the company's production and midstream operations. We
intend to be an active participant in this program and look forward to
reporting and sharing our successes and best practices with industry
partners. We also anticipate achieving further efficiencies from the
experiences of companies already involved in the program. We are
confident our continued emphasis on adopting environmentally
responsible practices and technologies across our operations will have
a positive impact on our financial and operational performance."
Suzie Waltzer, Natural Gas STAR Program Coordinator for the EPA in
Washington D.C., said, "We are pleased to welcome Chesapeake to our
Natural Gas STAR program. As an active explorer and the largest
independent producer of natural gas in the United States, Chesapeake's
participation in our Natural Gas STAR Program will provide new
information and data to support our mutual environmental goals."
More information on the program can be found at
www.epa.gov/gasstar.
Chesapeake Energy Corporation is the largest independent producer
and third-largest overall producer of natural gas in the United
States. 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. The company's Internet address is www.chkenergy.com.
CONTACT: Chesapeake Energy Corporation
Andrew McCalmont, 405-879-7852
STAR Program Manager
amccalmont@chkenergy.com
or
Thomas S. Price, Jr., 405-879-9257
Senior Vice President - Corporate Development
tprice@chkenergy.com
SOURCE: Chesapeake Energy Corporation