OKLAHOMA CITY, Dec. 29 /PRNewswire-FirstCall/ -- Chesapeake Energy
Corporation (NYSE: CHK) today announced the final results of its previously
announced offer to exchange 5.3260 shares of its common stock for each
outstanding share of its 6.0% Cumulative Convertible Preferred Stock
(CUSIP Nos. 165167-70-1 and 165167-60-2), commenced on November 30, 2004. The
exchange offer expired at 12:00 midnight EST on Tuesday, December 28, 2004.
Chesapeake issued 20,754,817 shares of its common stock in exchange for
3,896,890 shares, or 97%, of its outstanding 6.0% Cumulative Convertible
Preferred Stock tendered in the exchange offer. 103,110 shares of the
Preferred Stock remained outstanding at the expiration of the exchange offer.
The Preferred Stock is listed on the New York Stock Exchange under the symbol
"CHKPrA", and Chesapeake's common stock is listed on the New York Stock
Exchange under the symbol "CHK".
The exchange offer was made pursuant to an exchange offer prospectus dated
November 30, 2004 (as amended on December 16, 2004) contained in a
registration statement filed by Chesapeake with the Securities and Exchange
Commission. Copies of the prospectus contained in the registration statement
may be obtained from the Information Agent for the exchange offer, MacKenzie
Partners, Inc., who may be reached at 800-322-2885 (US toll-free) and
212-929-5500 (collect). The exchange offer prospectus and other related
documents filed with the Securities and Exchange Commission may also be
obtained at the Commission's web site, http://www.sec.gov .
The Company engaged UBS Securities LLC to act as dealer manager in
connection with the Offer. Questions regarding the Offer may be directed to
UBS Securities LLC, 677 Washington Blvd., Stamford, CT 06901 at
(888) 722-9555, x4210 (US toll-free) and (203) 719-4210 (collect).
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 sixth 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 producing
property acquisitions in the Mid-Continent, Permian Basin, South Texas, Texas
Gulf Coast and Ark-La-Tex regions of the United States. The company's
Internet address is http://www.chkenergy.com .
SOURCE Chesapeake Energy Corporation
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Related links:
http://www.chkenergy.com
CONTACT:
Marc Rowland, Executive Vice President and
Chief Financial Officer, +1-405-879-9232, or Tom Price, Jr.,
Senior Vice President - Investor Relations, +1-405-879-9257, both
of Chesapeake Energy Corporation
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