Chesapeake Energy (ticker: CHK, exchange: New York Stock Exchange (.N))
News Release -
Chesapeake Energy Corporation Announces Offering of Common StockPrinter Friendly Version (pdf format)
OKLAHOMA CITY, Dec. 5 /PRNewswire-FirstCall/ -- Chesapeake Energy
Corporation (NYSE: CHK) announced today that it will file a preliminary
supplemental prospectus with the Securities and Exchange Commission relating
to the proposed public offering of 20 million shares of common stock. The
company expects to price the offering the week of December 9, 2002.
Chesapeake intends to use the net proceeds of the offering to finance, in
part, its recently announced acquisition of Mid-Continent natural gas
properties from ONEOK, Inc., which is scheduled to close in January 2003, or
in the event the ONEOK acquisition is not consummated, proceeds will be used
for general corporate purposes including possible future acquisitions.
Credit Suisse First Boston, Morgan Stanley and Salomon Smith Barney are
joint book-running managers for the offering. Bear Stearns & Co. Inc., Lehman
Brothers and Johnson Rice & Company, LLC are also managing underwriters. When
available, copies of the preliminary prospectus supplement relating to the
offering may be obtained from the offices of Credit Suisse First Boston,
Prospectus Department, One Madison Avenue, New York, New York 10010,
212-325-2580, Morgan Stanley, Prospectus Department, 1585 Broadway, New York,
New York 10036, 212-761-4000, and Salomon Smith Barney, Brooklyn Army
Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, 718-765-6732.
Chesapeake is an independent energy company engaged in oil and natural gas
exploitation, acquisition and exploration activities primarily in the Gulf of
Mexico, the Rocky Mountains, Permian Basin/Mid-Continent and the Gulf Coast.
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
Chesapeake Energy Corporation is one of the 10 largest independent natural
gas producers 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 region of the United States.
SOURCE Chesapeake Energy Corporation
CONTACT: Marc Rowland, Executive Vice President and Chief Financial
Officer, +1-405-879-9232, or Tom Price, Jr., Senior Vice President, Corporate
Development, +1-405-879-9257, both of Chesapeake Energy Corporation