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CHK » Topics » Forward-Looking Statements

This excerpt taken from the CHK 8-K filed Jun 25, 2009.

Forward-Looking Statements

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our current expectations or forecasts of future events. They include estimates of natural gas and oil reserves, expected natural gas and oil production and future expenses, assumptions regarding future natural gas and oil prices, planned capital expenditures, and anticipated asset acquisitions and sales, as well as statements concerning anticipated cash flow and liquidity, business strategy and other plans and objectives for future operations. Disclosures concerning the fair values of derivative contracts and their estimated contribution to our future results of operations are based upon market information as of a specific date. These market prices are subject to significant volatility.

Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in Item 1A of this report and include:

 

  •  

the volatility of natural gas and oil prices,

 

  •  

the limitations our level of indebtedness may have on our financial flexibility,

 

  •  

impacts the current financial crisis may have on our business and financial condition,

 

  •  

declines in the values of our natural gas and oil properties resulting in ceiling test write-downs,

 

41

  •  

the availability of capital on an economic basis, including planned asset monetization transactions, to fund reserve replacement costs,

 

  •  

our ability to replace reserves and sustain production,

 

  •  

uncertainties inherent in estimating quantities of natural gas and oil reserves and projecting future rates of production and the timing of development expenditures,

 

  •  

exploration and development drilling that does not result in commercially productive reserves,

 

  •  

leasehold terms expiring before production can be established,

 

  •  

hedging activities resulting in lower prices realized on natural gas and oil sales and the need to secure hedging liabilities,

 

  •  

uncertainties in evaluating natural gas and oil reserves of acquired properties and potential liabilities,

 

  •  

the negative effect lower natural gas and oil prices could have on our ability to borrow,

 

  •  

drilling and operating risks, including potential environmental liabilities,

 

  •  

transportation capacity constraints and interruptions that could adversely affect our cash flow,

 

  •  

adverse effects of governmental and environmental regulation, and

 

  •  

losses possible from pending or future litigation.

We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this report, and we undertake no obligation to update this information. We urge you to carefully review and consider the disclosures made in this report and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business.

 

42

ITEM 8. Financial Statements and Supplementary Data

The information contained in this Item has been updated to reflect the retrospective adoption of FSP No. APB 14-1, Accounting for Convertible Debt Instruments That May Be Settled in Cash Upon Conversion (Including Partial Cash Settlement), effective January 1, 2009 (discussed in Note 3). This Item has not been updated for other changes since the filing of our 2008 Form 10-K. For significant developments since the filing of our 2008 Form 10-K, refer to our filings subsequent to March 2, 2009.

This excerpt taken from the CHK 10-Q filed Aug 8, 2007.

Forward-Looking Statements

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our current expectations or forecasts of future events. They include statements regarding oil and natural gas reserve estimates, planned capital expenditures, the drilling of oil and natural gas wells and future acquisitions, expected oil and natural gas production, cash flow and anticipated liquidity, business strategy and other plans and objectives for future operations and expected future expenses. Statements concerning the fair values of derivative contracts and their estimated contribution to our future results of operations are based upon market information as of a specific date. These market prices are subject to significant volatility.

Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in Item 1A of our annual report on Form 10-K for the year ended December 31, 2006 and include:

 

  •  

the volatility of oil and natural gas prices,

 

  •  

the availability of capital on an economic basis to fund our drilling program,

 

  •  

our ability to replace reserves and sustain production,

 

  •  

our level of indebtedness,

 

  •  

the strength and financial resources of our competitors,

 

38

Table of Contents
  •  

uncertainties inherent in estimating quantities of oil and natural gas reserves and projecting future rates of production and the timing of development expenditures,

 

  •  

uncertainties in evaluating oil and natural gas reserves of acquired properties and associated potential liabilities,

 

  •  

inability to effectively integrate and operate acquired companies and properties,

 

  •  

unsuccessful exploration and development drilling,

 

  •  

declines in the value of our oil and natural gas properties resulting in ceiling test write-downs,

 

  •  

lower prices realized on oil and natural gas sales and collateral required to secure hedging liabilities resulting from our commodity price risk management activities,

 

  •  

lower oil and natural gas prices negatively affecting our ability to borrow,

 

  •  

drilling and operating risks,

 

  •  

adverse effects of governmental regulation, and

 

  •  

losses possible from pending or future litigation.

We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this report, and we undertake no obligation to update this information. We urge you to carefully review and consider the disclosures made in this report and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business.

This excerpt taken from the CHK 10-Q filed May 8, 2007.

Forward-Looking Statements

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our current expectations or forecasts of future events. They include statements regarding oil and natural gas reserve estimates, planned capital expenditures, the drilling of oil and natural gas wells and future acquisitions, expected oil and natural gas production, cash flow and anticipated liquidity, business strategy and other plans and objectives for future operations and expected future expenses. Statements concerning the fair values of derivative contracts and their estimated contribution to our future results of operations are based upon market information as of a specific date. These market prices are subject to significant volatility.

Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in Item 1A of our annual report on Form 10-K for the year ended December 31, 2006 and include:

 

  •  

the volatility of oil and natural gas prices,

 

  •  

our level of indebtedness,

 

34

Table of Contents
  •  

the strength and financial resources of our competitors,

 

  •  

the availability of capital on an economic basis to fund reserve replacement costs,

 

  •  

our ability to replace reserves and sustain production,

 

  •  

uncertainties inherent in estimating quantities of oil and natural gas reserves and projecting future rates of production and the timing of development expenditures,

 

  •  

uncertainties in evaluating oil and natural gas reserves of acquired properties and associated potential liabilities,

 

  •  

inability to effectively integrate and operate acquired companies and properties,

 

  •  

unsuccessful exploration and development drilling,

 

  •  

declines in the value of our oil and natural gas properties resulting in ceiling test write-downs,

 

  •  

lower prices realized on oil and natural gas sales and collateral required to secure hedging liabilities resulting from our commodity price risk management activities,

 

  •  

lower oil and natural gas prices negatively affecting our ability to borrow,

 

  •  

drilling and operating risks,

 

  •  

adverse effects of governmental regulation, and

 

  •  

losses possible from pending or future litigation.

We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this report, and we undertake no obligation to update this information. We urge you to carefully review and consider the disclosures made in this report and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business.

This excerpt taken from the CHK 10-Q filed Nov 7, 2006.

Forward-Looking Statements

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our current expectations or forecasts of future events. They include statements regarding oil and natural gas reserve

 

50

Table of Contents

estimates, planned capital expenditures, the drilling of oil and natural gas wells and future acquisitions, expected oil and natural gas production, cash flow and anticipated liquidity, business strategy and other plans and objectives for future operations and expected future expenses. Statements concerning the fair values of derivative contracts and their estimated contribution to our future results of operations are based upon market information as of a specific date. These market prices are subject to significant volatility.

Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in Item 1A of our annual report on Form 10-K for the year ended December 31, 2005 and include:

 

  •   the volatility of oil and natural gas prices,

 

  •   our level of indebtedness,

 

  •   the strength and financial resources of our competitors,

 

  •   the availability of capital on an economic basis to fund reserve replacement costs,

 

  •   our ability to replace reserves and sustain production,

 

  •   uncertainties inherent in estimating quantities of oil and natural gas reserves and projecting future rates of production and the timing of development expenditures,

 

  •   uncertainties in evaluating oil and natural gas reserves of acquired properties and associated potential liabilities,

 

  •   inability to effectively integrate and operate acquired companies and properties,

 

  •   unsuccessful exploration and development drilling,

 

  •   declines in the value of our oil and natural gas properties resulting in ceiling test write-downs,

 

  •   lower prices realized on oil and natural gas sales and collateral required to secure hedging liabilities resulting from our commodity price risk management activities,

 

  •   lower oil and natural gas prices negatively affecting our ability to borrow, and

 

  •   drilling and operating risks.

We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this report, and we undertake no obligation to update this information. We urge you to carefully review and consider the disclosures made in this report and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business.

This excerpt taken from the CHK 10-Q filed Aug 9, 2006.

Forward-Looking Statements

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our current expectations or forecasts of future events. They include statements regarding oil and natural gas reserve estimates, planned capital expenditures, the drilling of oil and natural gas wells and future acquisitions, expected oil and natural gas production, cash flow and anticipated liquidity, business strategy and other plans and objectives for future operations and expected future expenses. Statements concerning the fair values of derivative contracts and their estimated contribution to our future results of operations are based upon market information as of a specific date. These market prices are subject to significant volatility. Our estimates of operating expenses per mcfe of projected 2006 production do not take into account possible curtailments we might experience as a result of high natural gas pipeline pressures and/or early filling of natural gas storage facilities.

Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in Item 1A of our annual report on Form 10-K for the year ended December 31, 2005 and include:

 

  •   the volatility of oil and natural gas prices,

 

  •   our level of indebtedness,

 

  •   the strength and financial resources of our competitors,

 

  •   the availability of capital on an economic basis to fund reserve replacement costs,

 

  •   our ability to replace reserves and sustain production,

 

  •   uncertainties inherent in estimating quantities of oil and natural gas reserves and projecting future rates of production and the timing of development expenditures,

 

  •   uncertainties in evaluating oil and natural gas reserves of acquired properties and associated potential liabilities,

 

  •   inability to effectively integrate and operate acquired companies and properties,

 

  •   unsuccessful exploration and development drilling,

 

  •   declines in the value of our oil and natural gas properties resulting in ceiling test write-downs,

 

41

Table of Contents
  •   lower prices realized on oil and natural gas sales and collateral required to secure hedging liabilities resulting from our commodity price risk management activities,

 

  •   lower oil and natural gas prices negatively affecting our ability to borrow, and

 

  •   drilling and operating risks.

We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this report, and we undertake no obligation to update this information. We urge you to carefully review and consider the disclosures made in this report and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business.

This excerpt taken from the CHK 10-Q filed May 10, 2006.

Forward-Looking Statements

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our current expectations or forecasts of future events. They include statements regarding oil and natural gas reserve estimates, planned capital expenditures, the drilling of oil and natural gas wells and future acquisitions, expected oil and natural gas production, cash flow and anticipated liquidity, business strategy and other plans and objectives for future operations and expected future expenses. Statements concerning the fair values of derivative contracts and their estimated contribution to our future results of operations are based upon market information as of a specific date. These market prices are subject to significant volatility.

Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in Item 1A of our annual report on Form 10-K for the year ended December 31, 2005 and include:

 

  •   the volatility of oil and natural gas prices,

 

  •   our level of indebtedness,

 

  •   the strength and financial resources of our competitors,

 

  •   the availability of capital on an economic basis to fund reserve replacement costs,

 

  •   our ability to replace reserves and sustain production,

 

  •   uncertainties inherent in estimating quantities of oil and natural gas reserves and projecting future rates of production and the timing of development expenditures,

 

  •   uncertainties in evaluating oil and natural gas reserves of acquired properties and associated potential liabilities,

 

  •   inability to effectively integrate and operate acquired companies and properties,

 

  •   unsuccessful exploration and development drilling,

 

  •   declines in the value of our oil and natural gas properties resulting in ceiling test write-downs,

 

  •   lower prices realized on oil and natural gas sales and collateral required to secure hedging liabilities resulting from our commodity price risk management activities,

 

32

Table of Contents
  •   lower oil and natural gas prices negatively affecting our ability to borrow, and

 

  •   drilling and operating risks.

We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this report, and we undertake no obligation to update this information. We urge you to carefully review and consider the disclosures made in this report and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business.

This excerpt taken from the CHK 10-K filed Mar 14, 2006.

Forward-Looking Statements

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our current expectations or forecasts of future events. They include statements regarding oil and gas reserve estimates, planned capital expenditures, the drilling of oil and gas wells and future acquisitions, expected oil and gas production, cash flow and anticipated liquidity, business strategy and other plans and objectives for future operations and expected future expenses. Statements concerning the fair values of derivative contracts and their estimated contribution to our future results of operations are based upon market information as of a specific date. These market prices are subject to significant volatility.

Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in Items 1. and 2. of this report and include:

 

  •   the volatility of oil and gas prices,

 

  •   our level of indebtedness,

 

  •   the strength and financial resources of our competitors,

 

  •   the availability of capital on an economic basis to fund reserve replacement costs,

 

53

Table of Contents
  •   our ability to replace reserves and sustain production,

 

  •   uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and the timing of development expenditures,

 

  •   uncertainties in evaluating oil and gas reserves of acquired properties and associated potential liabilities,

 

  •   inability to effectively integrate and operate acquired companies and properties,

 

  •   unsuccessful exploration and development drilling,

 

  •   declines in the value of our oil and gas properties resulting in ceiling test write-downs,

 

  •   lower prices realized on oil and gas sales and collateral required to secure hedging liabilities resulting from our commodity price risk management activities,

 

  •   lower oil and gas prices could negatively affect our ability to borrow, and

 

  •   drilling and operating risks.

We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this report, and we undertake no obligation to update this information. We urge you to carefully review and consider the disclosures made in this report and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business.

EXCERPTS ON THIS PAGE:

8-K
Jun 25, 2009
10-Q
Aug 8, 2007
10-Q
May 8, 2007
10-Q
Nov 7, 2006
10-Q
Aug 9, 2006
10-Q
May 10, 2006
10-K
Mar 14, 2006

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