Press Releases

Chesapeake Energy Corporation today announced the donation of $3 million to the American Red Cross and various other relief organizations in response to Hurricane Katrina. Although Chesapeake does not have any drilling or production operations offshore in the Gulf of Mexico or in southern Louisiana or any employees that were directly affected by the hurricane, the company has conducted operations in southern Louisiana in the past and has many energy and financial industry friends in the affected areas.

The donation consists of $1 million by the company and $1 million each by the company's two co-founders, Chief Executive Officer Aubrey K. McClendon and Chief Operating Officer and President Tom L. Ward. In addition, the company has established a funding vehicle with the Red Cross so additional Chesapeake employees have a central agency to which they can direct their personal contributions.

"I'd like to express my deepest heartfelt gratitude for one of Oklahoma's leading companies and to its co-founders, Aubrey McClendon and Tom Ward, for their extraordinary leadership and generosity," said Chief Gary Marrs, Chairman of the Board of the American Red Cross of Central Oklahoma. "There is an urgent need at this time and it is encouraging to see a company such as Chesapeake step forward in a significant way to help fund what will most definitely be an extended and extensive recovery and healing period."

For those interested in supplementing Chesapeake and its employees' contributions to the Hurricane Katrina relief effort, please call the American Red Cross Disaster Relief Fund at 1-800-Help-Now or the local office of the American Red Cross of Central Oklahoma at 405-228-9500. Internet users can make a secure online contribution by visiting http://www.redcross.org/ .

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 property acquisitions in the Mid-Continent, Permian Basin, South Texas, Texas Gulf Coast and Ark-La-Tex (including the Barnett Shale) regions of the United States. The company's Internet address is http://www.chkenergy.com/ .

SOURCE: Chesapeake Energy Corporation