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OKLAHOMA CITY, Okla., Nov 28, 2008 (BUSINESS WIRE) -- Chesapeake Energy Corporation (NYSE:CHK) today announced that on
November 26, 2008 it made three filings with the U.S. Securities and
Exchange Commission (SEC). The first was a shelf registration statement
on Form S-3. This registration statement, which covers Chesapeake's
common stock and preferred stock, was a routine filing and was filed to
replace the company's existing shelf registration statement which will
expire on December 5, 2008. The second was an acquisition shelf
registration statement filed on Form S-4. Once declared effective by the
SEC, the acquisition shelf will enable Chesapeake to issue up to 50
million shares of its common stock in connection with the acquisition of
assets, businesses or securities of other companies.
The third filing is a supplemental prospectus relating to shares subject
to Distribution Agency Agreements that Chesapeake entered into with
Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. Incorporated
and UBS Securities LLC, which serve as sales agents under those
agreements. Chesapeake does not anticipate issuing shares under the
Distribution Agency Agreements in 2008, but it will consider issuances
from time to time in 2009 and beyond as market conditions warrant. The
Distribution Agency Agreements provide that Chesapeake may offer and
sell shares of its common stock having an aggregate offering price of up
to $1 billion through the sales agents. Sales of shares pursuant to
these agreements will be made by means of ordinary brokers' transactions
on the NYSE at market prices, in block transactions or as otherwise
agreed with the sales agents. Shares sold under the Distribution Agency
Agreements will be offered through the prospectus and prospectus
supplement filed with the SEC.
Chesapeake's acquisition shelf registration statement has been filed
with the SEC, but has not yet become effective. The shares of
common stock registered thereby may not be sold, nor may offers to buy
be accepted, prior to the time the acquisition shelf registration
statement becomes effective. A copy of the preliminary and, once
available, final, prospectus for shares offered pursuant to the
acquisition shelf registration statement may be obtained through the
SEC's website at www.sec.gov
or from Chesapeake by contacting Jennifer M. Grigsby, Corporate
Secretary, Chesapeake Energy Corporation, 6100 North Western Avenue,
Oklahoma City, Oklahoma 73118, telephone 405-848-8000. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy any securities of Chesapeake Energy Corporation in any
jurisdiction. Any such offer will be made solely by means of a
prospectus meeting the requirements of the applicable securities laws.
Chesapeake Energy Corporation is the largest 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 Fort Worth Barnett Shale,
Fayetteville Shale, Haynesville Shale, Marcellus Shale, Mid-Continent,
Appalachian Basin, Permian Basin, Delaware Basin, South Texas, Texas
Gulf Coast and Ark-La-Tex regions of the United States. Further
information is available at www.chk.com.
SOURCE: Chesapeake Energy Corporation
Chesapeake Energy Corporation
Jeffrey L. Mobley, CFA, 405-767-4763
Senior Vice President -
Investor Relations and Research
Jeff.Mobley@Chk.Com
Marc Rowland, 405-879-9232
Executive Vice President
and Chief Financial Officer
marc.rowland@chk.com