Exhibit 99.1
 FOR IMMEDIATE RELEASE DECEMBER 15, 2008 | 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 jmobley@chkenergy.com | MARC ROWLAND EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER (405) 879-9232 mrowland@chkenergy.com |
CHESAPEAKE ENERGY CORPORATION DECLARES QUARTERLY
COMMON AND PREFERRED STOCK DIVIDENDS
OKLAHOMA CITY, OKLAHOMA, DECEMBER 15, 2008 – Chesapeake Energy Corporation (NYSE:CHK) today announced that its Board of Directors has declared a $0.075 per share quarterly dividend that will be paid on January 15, 2009 to common shareholders of record on January 2, 2009. Chesapeake has approximately 606 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 | 3,033 | 5,000 | 2,558,900 | 2,095,615 | 143,768 |
| Liquidation Preference per Share | $1,000 | $100 | $100 | $100 | $250 |
| Record Date | Mar. 2, 2009 | Jan. 2, 2009 | Mar. 2, 2009 | Feb. 2, 2009 | Mar. 2, 2009 |
| Payment Date | Mar. 16, 2009 | Jan. 15, 2009 | Mar. 16, 2009 | Feb. 16, 2009 | Mar. 16, 2009 |
| Amount per Share | $10.3125 | $1.25 | $1.125 | $1.25 | $3.90625 |
Chesapeake Energy Corporation is the largest 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 Fort Worth Barnett Shale, Fayetteville Shale, Haynesville Shale, Marcellus Shale, Mid-Continent, Appalachian Basin, Permian Basin, Delaware Basin, South Texas, Texas Gulf Coast and Ark-La-Tex regions of the United States. Further information is available at www.chk.com.