OKLAHOMA CITY, Dec. 8 /PRNewswire-FirstCall/ -- Chesapeake Energy
Corporation (NYSE: CHK) today announced that it intends to commence a public
offering of 20.0 million shares of its common stock. Chesapeake intends to
use the net proceeds of the offering to repay debt under its bank credit
facility or for general corporate purposes.
The offering will be made under a shelf registration statement that became
effective when filed by the company today. The company intends to grant the
underwriters a 30-day option to purchase a maximum of 3.0 million additional
shares of its common stock to cover over-allotments if any.
UBS Investment Bank, Banc of America Securities LLC, Credit Suisse First
Boston, Lehman Brothers and Raymond James will be joint book-running managers
for the offering. Copies of the preliminary prospectus and records relating
to the offering may be obtained from the offices of UBS Securities LLC,
Prospectus Department, 299 Park Avenue, 29th Floor, New York, NY 10171,
212-821-3000; Banc of America Securities LLC, Attn: Prospectus Department,
100 West 33rd Street, New York, NY 10001, 646-733-4166; Credit Suisse First
Boston, One Madison Avenue, Level 1B, New York, NY 10010, 212-325-2580; Lehman
Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services,
1155 Long Island Avenue, Edgewood, NY 11717; Raymond James & Associates, 880
Carillon Parkway, St. Petersburg, FL 33716, 727-567-2400.
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 state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any state.
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 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
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Related links:
http://www.chkenergy.com
CONTACT:
Jeffrey L. Mobley, CFA, Vice President,
Investor Relations and Research, +1-405-767-4763,
jmobley@Chkenergy.Com, or Marc Rowland, Executive Vice President
and Chief Financial Officer, +1-405-879-9232,
Mrowland@Chkenergy.Com, both for Chesapeake Energy Corporation
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