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OKLAHOMA CITY, Jan. 30 /PRNewswire-FirstCall/ -- Chesapeake Energy
Corporation (NYSE: CHK) today announced that it is commencing a private
placement offering to eligible purchasers of an additional $500 million of its
existing 6.5% Senior Notes due 2017. The notes issued in this offering will be
issued under the indenture dated as of August 16, 2005. The notes are
expected to be eligible for resale under Rule 144A. The private offering,
which is subject to market and other conditions, will be made within the
United States only to qualified institutional buyers and outside the United
States only to non-U.S. investors under Regulation S of the Securities Act of
1933.
Chesapeake intends to use the net proceeds from the offering to repay debt
under its secured bank credit facility.
The notes have not been registered under the Securities Act of 1933 or
applicable state securities laws, and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws. This
announcement shall not constitute an offer to sell or a solicitation of an
offer to buy the notes.
This document contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements include estimates and give
our current expectations or forecasts of future events. Although we believe
our forward-looking statements are reasonable, they can be affected by
inaccurate assumptions or by known or unknown risks and uncertainties.
Chesapeake Energy Corporation is the second largest independent 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, Permian Basin, South Texas,
Texas Gulf Coast, Barnett Shale, Ark-La-Tex and Appalachian Basin regions of
the United States.
SOURCE Chesapeake Energy Corporation
CONTACT: Jeffrey L. Mobley, CFA, Vice President-Investor Relations and
Research, +1-405-767-4763, or jmobley@chkenergy.com , or Marc Rowland,
Executive Vice President and Chief Financial Officer, +1-405-879-9232, or
mrowland@chkenergy.com , both of Chesapeake Energy Corporation