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March 2011 – Oklahoma City Trust Presentation. Chesapeake Overview. 10, 338 employees nationally. 3,984 employees based in Oklahoma City. Second-largest producer of U.S. natural gas 4Q’10 natural gas production of ~2.6 bcf Most active driller in U.S. 149 operated rigs currently,
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Chesapeake Overview • 10, 338 employees nationally. • 3,984 employees based in Oklahoma City. • Second-largest producer of U.S. natural gas • 4Q’10 natural gas production of ~2.6 bcf • Most active driller in U.S. • 149 operated rigs currently, • Consistent production growth – 21 consecutive years of sequential production growth • 2010 average daily production growth was 14% • Best assets in the industry • 15.2 tcfe of proved reserves at 12/31/10 • 103 tcfe of risked unproved resource potential • Unparalleled inventory of U.S. onshore leasehold • 13.3 mm net acres of U.S. onshore leasehold
CHK’s Operating Areas Chesapeake Energy Corporation is headquartered in Oklahoma City. The Company’s operations are focused on discovering and developing unconventional natural gas and oil fields onshore in the U.S. as shown below.
Headquarters' Expansion Plans • Chesapeake is experiencing significant employment growth. • We consistently have 450 – 500 open job postings. • We hire approximately 75 employees a week across the country, of which 25 are headquartered in OKC. • In 2010, we hired approximately 3,500 employees nationwide of which 1,000 were in OKC. • Chesapeake is #32 on FORTUNE’S Top 100 Best Companies to Work For list. • Due to the Company’s growth and the creation of new jobs, Chesapeake is essentially at capacity and in need of additional office space. • Chesapeake plans to address the need for growth by expanding its Oklahoma City campus eastwardly across Classen Blvd. • Planned expansion includes the addition of four new office buildings, two new parking garages, a child development center and a central plant. • The four additional office buildings will provide an additional 2,681 offices to accommodate existing and future employees. • The two additional parking garages will increase parking capacity by 2,666 vehicles • The Child Development Center will be a full service child care center offering an array of programs and services. The building will have capacity for approximately 300 children and is scheduled for opening in the Fall of 2011.
Economic Impact • The Greater Oklahoma City Chamber Economic Development Division estimates the total economic impact of this project to be in excess of $293 million over the first five year period. • Chesapeake estimates a minimum of 350 new jobs created within the next five years. • Estimated first year additional payroll of $7,350,000 and increasing to $41,370,000 by the end of the fifth year. • Minimum capital expenditure of $50 million on property and equipment • Estimated local sales tax and property revenue is estimated to be $2,215,853 over the first four year period and $540,000 or more annually from the fifth year forward. • Campus expansion is only a part of Chesapeake’s investment in the state of Oklahoma.
