RESCHEDULED - Reservoir - Chesapeake Energy Corporation and Engineering Challenges in the Mid-continent

This event was reschedule to this date from 22 September, 2005.  All registrations not canceled previously have been forwarded to the current date.    

Chesapeake Energy Corporation is now one of the three largest independent producers of natural gas in the U.S. and owns interests in approximately 21,500 producing oil and gas wells, primarily in the mid-continent area.

’s phenomenal grow has resulted from one of the largest onshore asset acquisition programs in recent memory. From January 1, 1998 through June 30, 2005, Chesapeake was one of the most active consolidators of onshore U.S. natural gas assets, having purchased approximately 4.4 tcfe of proved reserves at a total cost of approximately $5.4 billion. During 2004, acquisition expenditures totaled $2.1 billion  and to date in 2005 have totaled $1.8 billion.  

Despite this fast growth, Chesapeake was also successful in organically growing its
 reserve base. During 2004, Chesapeake drilled 561 (425 net) operated wells and participated in another 890 (121 net) wells operated by other companies. The company’s success rate was 96% for both operated and non-operated wells. During the first half of 2005, Chesapeake drilled 413 (305 net) operated wells and participated in another 505 (60 net) wells operated by other companies. Chesapeake ’s drilling success rate was 98% for company-operated wells and non-operated wells.

Aubrey K. McClendon, Chairman of the Board, Chief Executive Officer, will present this story of success in the Mid-continent, and the engineering challenges that it still sees in successfully managing their mature onshore fields.

Location: The Courtyard on St. James Place
1885 St. James Place
Houston , Texas

Date: Jan. 26, 2006, 11:30 a.m. - Jan. 26, 2006, 1 p.m.