OKLAHOMA CITY, Aug 09, 2010 (BUSINESS WIRE) --
Chesapeake Energy Corporation (NYSE:CHK) today announced that it is
commencing a public offering of $600 million of Senior Notes due 2018
and $1 billion of Senior Notes due 2020. Chesapeake intends to use the
net proceeds from the offerings to pay the purchase price or redemption
price, as applicable, of its outstanding $300 million of 7.00% Senior
Notes due 2014, $600 million of 6.625% Senior Notes due 2016 and $600
million of 6.25% Senior Notes due 2018 and for general corporate
purposes.
The notes are being offered pursuant to a shelf registration statement
filed August 3, 2010, with the U.S. Securities and Exchange Commission.
Chesapeake intends to list the notes on the New York Stock Exchange
after issuance. Credit Suisse Securities (USA) LLC will act as lead book
running manager for the notes offering with Bank of America Securities
LLC, Barclays Capital, Inc., Morgan Stanley & Co. Incorporated and Wells
Fargo Securities, LLC acting as joint book-running managers. Copies of
the prospectus relating to the offering may be obtained from Credit
Suisse Securities (USA) LLC, One Madison Avenue, New York, New York
10010, Attn: Prospectus Department (or by telephone at 1-800-221-1037).
An electronic copy of the preliminary prospectus supplement will be
available on the website of the Securities and Exchange Commission at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
This press release 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, including the expected consummation
of the offering described and the use of proceeds. 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, and actual
results may differ from the expectations expressed.
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 liquids 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 Relations:
Jeffrey L. Mobley, CFA, 405-767-4763
jeff.mobley@chk.com
or
John J. Kilgallon, 405-935-4441
john.kilgallon@chk.com
or
Media Relations:
Jim Gipson, 405-935-1310
jim.gipson@chk.com