Chesapeake Energy
From Wikipedia, the free encyclopedia
| Chesapeake Energy | |
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| Type | Public |
|---|---|
| Founded | 1989 |
| Headquarters | Oklahoma City, Oklahoma, USA |
| Key people | Aubrey McClendon, CEO |
| Industry | Petroleum |
| Products | Natural Gas |
| Revenue |  $7,325 million USD (2006) |
| Employees | 4,600 |
| Slogan | Natural Gas Wins the Day |
| Website | chkenergy.com |
Chesapeake Energy (NYSE: CHK) is a producer of natural gas in the United States and is now the third largest independent producer and the most active driller of new wells in the US. Their primary growth is due to acquisitions and mergers. Its headquarters are located in Oklahoma City, Oklahoma.
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[edit] History
Chesapeake was co-founded by CEO and chairman Aubrey McClendon and former COO and president Tom L. Ward. The company completed its initial public offering in early 1993 and now trades under the symbol CHK on the NYSE.
As of 2005, Chesapeake has opened a new field office in Texas, seen success in its first quarter financial numbers, and has worked to acquire more property in Oklahoma City, Arkansas, and elsewhere. McClendon was also recognized by Forbes magazine as one of America's top-performing executives.
Chesapeake owns oil and natural gas wells in several states, including Oklahoma,Texas, Arkansas, Louisiana, Kansas, Colorado, North Dakota and New Mexico. With the recent acquisition of the holding company of Columbia Natural Resources, LLC and certain affiliated entities (CNR), they have a leasehold in Appalachian Basin, primarily in West Virginia, eastern Kentucky, eastern Ohio and southern New York. Chesapeake is the most active driller of new wells in the United States. As of 2004, the company's proved natural gas reserves were approximately 5.9 trillion cubic feet, by year end 2005 that had increased to 7.5 trillion cubic feet and at the end of 2006 oil and gas reserves were at 9.0 trillion cubic feet.
Chesapeake has often been mentioned by TV personality and stock analyst James Cramer on his show Mad Money.
As of March 2, 2006, Chesapeake has been added into the S&P 500, replacing Dana Corp.
[edit] Community Impact
Chesapeake Energy Corporation has long held that community involvement and enhancement are part of their founding principles. They are active in giving back in communities that they are active, whether it’s through financial support or employee participation. Projects that Chesapeake Energy Corporation has been involved in include community and public service improvements, common and higher education, public safety, health care, youth programs, historical restoration and preservation, environmental protection and restoration and more. Chesapeake has earned a reputation as one of the most philanthropic corporations in the energy industry and one of the most caring in the United States.
[edit] External links
[edit] References
Community Involvement. Retrieved on March 3, 2007.
