OKLAHOMA CITY, Aug 31, 2010 (BUSINESS WIRE) --
Chesapeake Energy Corporation (NYSE:CHK) today announced the expiration
of its previously announced cash tender offers for any and all of its
outstanding 7.00% Senior Notes due 2014, 6.625% Senior Notes due 2016
and 6.25% Senior Notes due 2018 (collectively, the "Notes"). The tender
offers expired at 12:00 midnight, New York City time, on August 30, 2010
(the "Expiration Date"). The full terms and conditions of the tender
offers are set forth in the Offer to Purchase and Consent Solicitation
Statement dated August 3, 2010 (the "Statement").
As previously announced, on August 17, 2010 Chesapeake purchased
$245,051,000 principal amount of its outstanding 7.00% Senior Notes due
2014, $566,242,000 principal amount of its outstanding 6.625% Senior
Notes due 2016 and $582,263,000 principal amount of its outstanding
6.25% Senior Notes due 2018 validly tendered and not validly withdrawn
as of 5:00 P.M., New York City time, on August 16, 2010, which was the
consent time (the "Consent Time") for the tender offers and related
consent solicitations with respect to the Notes. Chesapeake has received
and accepted for purchase an additional $60,000 principal amount of its
outstanding 7.00% Senior Notes due 2014, $388,000 principal amount of
its outstanding 6.625% Senior Notes due 2016 and $207,000 principal
amount of its outstanding 6.25% Senior Notes due 2018 validly tendered
subsequent to the Consent Time and prior to the Expiration Date.
Chesapeake has agreed to purchase all such Notes for the applicable
tender offer consideration set forth in the Statement.
Credit Suisse Securities (USA) LLC served as the Dealer Manager for the
tender offers and Solicitation Agent for the consent solicitations.
Questions regarding the tender offers and consent solicitations may be
directed to Credit Suisse Securities (USA) LLC toll free at (800)
820-1653 and collect at (212) 325-5912. Holders may obtain copies of the
Statement and the related Letter of Transmittal and Consent from the
Information Agent and Depositary for the tender offers, Global
Bondholder Services Corporation, collect at (212) 430-3774 and toll free
at (866) 952-2200.
This announcement is not an offer to purchase, a solicitation of an
offer to purchase, or a solicitation of an offer to sell securities with
respect to the Notes, nor is it a notice of redemption with respect to
the redemptions described above. The tender offers were made solely
pursuant to the Statement and the related Letter of Transmittal and
Consent.
Chesapeake Energy Corporation is the second-largest producer of
natural gas and the most active driller of new wells in the U.S.Headquartered
in Oklahoma City, the company's operations are focused on discovering
and developing unconventional natural gas and oil fields onshore in the
U.S. Chesapeake owns leading positions in the Barnett, Fayetteville,
Haynesville, Marcellus and Bossier natural gas shale plays and in the
Eagle Ford, Granite Wash and various other unconventional oil plays. The
company has also vertically integrated its operations and owns
substantial midstream, compression, drilling and oilfield service assets.
SOURCE: Chesapeake Energy Corporation
Chesapeake Energy Corporation
Investor Contacts:
Jeffrey L. Mobley, CFA, 405-767-4763
jeff.mobley@chk.com
or
John J. Kilgallon, 405-935-4441
john.kilgallon@chk.com
or
Media Contact:
Jim Gipson, 405-935-1310
jim.gipson@chk.com