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CHK » Topics » With Drilling Success Rate Over 97%

This excerpt taken from the CHK 8-K filed Jul 28, 2006.

With Drilling Success Rate Over 97%

Chesapeake’s exploratory and development drilling programs and production enhancement operations on its existing and acquired properties continue to produce operational results that distinguish the company among its peers. During the 2006 first half, Chesapeake continued the industry’s most active drilling program and drilled 613 gross (496 net) operated wells and participated in another 801 gross (88 net) wells operated by other companies. The company’s drilling success rate was 97% for company-operated wells and 99% for non-operated wells. During the 2006 first half, Chesapeake invested $1.097 billion in operated wells (using an average of 82 operated rigs), $241 million in non-operated wells (using an average of 75 non-operated rigs), $324 million to acquire new leasehold (exclusive of leases acquired through acquisitions) and $72 million to acquire new 3-D seismic data.

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