2011 Annual A lMMeeting ti g off Shareholders June 10, 10 2011 Oklahoma City, OK
May 2011 2011 Investor Annual Presentation Meeting of Shareholders CHKs History 22 Years of Growth and Achievement Founded in 1989 with a 50,000 investment to pursue growth through the drillbit via horizontal drilling opportunities…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders Industryy Leadership p Since 1989 1 driller of wells in the U.S.; 158 rigs drilling out of 1,806 total U.S. land rigs, or 9%(1) 1 driller in the U.S. during the…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders How Did We Do in 2010 2010 2009 YOY Change 2000 10-yr Change Production (avg. mmcfe per day) 2,836 2,481 14% 367 673% Proved reserves (bcfe) 17 096 17,096 14…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders CHK Accomplishments in the Past 12 Months Delivered 2010 hedging gains of 2.1 billion Unveiled 25/25 Plan, substantial progress has already been made Closed joint…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders Enormous Value Created Through JV Transactions More to Come in '11 CHK was early to recognize shale gas (and now oil) would become the biggest game changer in the…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders CHK's Strategy Has Delivered Per Share Growth; Should Accelerate From Here Production/Weighted Average Fully Diluted Share Proved Reserves/Fully Diluted Share…
Asset Overview
May 2011 2011 Investor Annual Presentation Meeting of Shareholders CHKs Operating p g Areas Low-risk, U.S. onshore asset base; not exposed to economic, geopolitical or technological risks internationally or in the Gulf of…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders Strong Results Already in Multiple Liquids q Plays y Niobrara Frontier Spillman Draw Unit State 16-1H Wagonhound 30-1H 705 boe/d 1,625 boe/d (0.3 mmcf/d + 655…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders CHKs Assets Are Unrivaled in Size and Qualityy in the U.S. Strengthened industry-leading position; only producer with 1 or 2 position in these large U.S. natural…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders Aggressively Shifting Capital to Liquids-Rich q Plays y CHK plans to reduce drilling of natural gas wells 100% Total Natural Gas Capex Total Liquids Capex in…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders CHKs Production Outlook 800,000 80% NGL, boe/d Oil, boe/d 700,000 70% Natural Gas, boe/d % Liquid 250,000 bbls/d 600,000 60% 150,000 bbls/d 500,000 67,000…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders And CHK Knows How to Ramp Up Production... 3,500 Natural gas, mmcf/d (before production divestments) d) al Gas Producction (mmcf/d Natural gas, mmcf/d (after…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders CHK Hedging Since Inception: 7.0 Billion of y byy Far Realized Gains Best in Industry, Quarterly Realized Gains and Losses 1Q'01 - 1Q'11 800 4.00 CHK s hedging…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders Time to Get Bullish on Out-Year Natural Gas Many reasons to be bullish on intermediate and long-term natural gas prices: U.S. natural gas producers are rapidly…
Summary
May 2011 2011 Investor Annual Presentation Meeting of Shareholders Long-Term Stock Performance vs. Natural Gas Prices Despite serious natural gas price headwinds during past three years, CHK has created significant shareholder…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders Remarkable Opportunity pp y for Investors (in millions) Price per share 30.00 33.00 36.00 Fully diluted common shares 765 765 765 Market capitalization 23,000…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders CHK Part of Exclusive 20/20 / Club Forbes named Chesapeake's CEO, Aubrey McClendon, to the elite CEO 20-20 Club in May 2011 A prestigious group of eight American…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders Other 2010-11 Awards and Achievements CHK was recognized for the 4th consecutive year on the Fortune 100 Best Companies to Work For 2011 list, moving up two spots…
May 2011 2011 Investor Annual Presentation Meeting of Shareholders Corporate p Information Corporate Contacts: Chesapeake Headquarters Jeffrey L. Mobley, CFA 6100 N. Western Avenue Senior Vice President Oklahoma City, Cit OK…