Profile: Chesapeake Energy Corp (CHKDH.PK)

CHKDH.PK on OTC Markets Group

84.88USD
27 Jun 2013
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Chesapeake Energy Corporation (Chesapeake), incorporated on November 19, 1996, is a producer of natural gas and liquids. The Company operates through two segments. The exploration and production operating segment is responsible for finding and producing natural gas, oil and natural gas liquids (NGL). The marketing, gathering and compression operating segment is responsible for marketing, gathering and compression of natural gas, oil and NGL. The Company’s owns interests in approximately 47,400 natural gas and oil wells that produced an average of approximately 726 Million Barrels of Oil Equivalent (mboe) per day in the third quarter of 2014, net to its interest. It has positions in the liquids-rich resource plays of the Eagle Ford Shale in South Texas; the Utica Shale in Ohio and Pennsylvania; the Granite Wash or Hogshooter, Cleveland, Tonkawa and Mississippi Lime plays in the Anadarko Basin in northwestern Oklahoma, the Texas Panhandle and southern Kansas, and the Niobrara Shale in the Powder River Basin in Wyoming. Its core natural gas resource plays are the Haynesville or Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania, and the Barnett Shale in the Fort Worth Basin of north-central Texas. The Company also owns substantial marketing and compression businesses.

The Company focuses its exploration, development, acquisition and production efforts in the two geographic operating divisions: Southern Division and Northern Division. The Southern Division includes the Eagle Ford Shale in South Texas, the Granite Wash/Hogshooter, Cleveland, Tonkawa and Mississippi Lime plays in the Anadarko Basin in northwestern Oklahoma, the Texas Panhandle and southern Kansas, the Haynesville/Bossier Shale in northwestern Louisiana and East Texas and the Barnett Shale in the Fort Worth Basin in north-central Texas. The Northern Division includes the Utica Shale in Ohio, West Virginia and Pennsylvania, the Marcellus Shale in the northern Appalachian Basin in West Virginia and Pennsylvania and the Niobrara Shale in the Powder River Basin in Wyoming.

Natural Gas, Oil and NGL Reserves

The Company’s Natural Gas, Oil and NGL Reserves segment includes 61 bcf of natural gas, 2 mmbbl of oil and 6 mmbbl of NGL reserves owned by the Chesapeake Granite Wash Trust, 30 bcf of natural gas, 1 mmbbl of oil and 3 mmbbl of NGL of which are attributable to the non-controlling interest holders. As of December 31, 2013, its reserve estimates included 869 mmboe of reserves classified as proved undeveloped. As of December 31, 2013, there were no proved undeveloped reserves (PUDs) that had remained undeveloped for five years or more.

Marketing, Gathering and Compression

The Company’s wholly owned subsidiary, Chesapeake Energy Marketing, Inc., provides natural gas, oil and NGL marketing services, including commodity price structuring, contract administration and nomination services for Chesapeake, other interest owners in Chesapeake-operated wells and other producers. The Company also processed a portion of its natural gas at various third-party plants. The Company has built its compression business through its wholly owned subsidiary, MidCon Compression, L.L.C. (MidCon). MidCon operates wellhead and system compressors, with over 1.0 million horsepower of compression, to facilitate the transportation of natural gas primarily produced from Chesapeake-operated wells.

Company Address

Chesapeake Energy Corp

6100 N WESTERN AVE
OKLAHOMA CITY   OK   73118
P: +1405.8488000
F: +1405.8430573

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