EXHIBIT 99.1
FOR IMMEDIATE RELEASE MARCH 13, 2007 |
N e w s R e l e a s e
Chesapeake Energy Corporation P. O. Box 18496 Oklahoma City, OK 73154 |
CONTACTS:
JEFFREY L. MOBLEY, CFA SENIOR VICE PRESIDENT – INVESTOR RELATIONS AND RESEARCH (405) 767-4763 | MARC ROWLAND EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER (405) 879-9232 |
CHESAPEAKE ENERGY CORPORATION DECLARES QUARTERLY
COMMON AND PREFERRED STOCK DIVIDENDS
OKLAHOMA CITY, OKLAHOMA, MARCH 13, 2007 – Chesapeake Energy Corporation (NYSE:CHK) today announced that its Board of Directors has declared a $0.06 per share quarterly dividend that will be paid on April 16, 2007 to common shareholders of record on April 2, 2007. Chesapeake has approximately 460 million common shares outstanding. In addition, Chesapeake’s Board has declared dividends on its outstanding convertible preferred stock issues, as stated below.
| Cumulative Convertible Preferred Stock | ||||
| 4.125% | 5% (2005) | 4.50% | 5% (2005B) | 6.25% |
NYSE Symbol | N/A | N/A | CHK Pr D | N/A | CHK Pr E |
Date of Issue | Mar. 30, 2004 | April 19, 2005 | Sept. 14, 2005 | Nov. 8, 2005 | June 30, 2006 |
Registered CUSIP | 165167875 | 165167859 | 165167842 | 165167826 | 165167818 |
144A CUSIP | 165167883 | 165167867 | N/A | 165167834 | N/A |
Par Value per Share | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 |
Shares Outstanding | 3,065 | 4,600,000 | 3,450,000 | 5,750,000 | 2,300,000 |
Liquidation Preference per Share | $1,000 | $100 | $100 | $100 | $250 |
Record Date | Jun. 1, 2007 | Apr. 2, 2007 | Jun. 1, 2007 | May 1, 2007 | Jun. 1, 2007 |
Payment Date | Jun. 15, 2007 | Apr. 16, 2007 | Jun. 15, 2007 | May 15, 2007 | Jun. 15, 2007 |
Amount per Share | $10.3125 | $1.25 | $1.125 | $1.25 | $3.90625 |
Chesapeake Energy Corporation is the third 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 corporate and property acquisitions in the Mid-Continent, Fort Worth Barnett Shale, Appalachian Basin, Fayetteville Shale, South Texas, Permian Basin, Delaware Basin, Ark-La-Tex and Texas Gulf Coast regions of the United States. The company’s Internet address is www.chkenergy.com.