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CHK » Topics » INCREASES CAPITAL EXPENDITURES TO ACCELERATE DEVELOPMENT

This excerpt taken from the CHK 8-K filed Mar 24, 2008.
INCREASES CAPITAL EXPENDITURES TO ACCELERATE DEVELOPMENT
 
OKLAHOMA CITY, OKLAHOMA, MARCH 24, 2008 – Chesapeake Energy Corporation (NYSE:CHK) today announced a new natural gas discovery in the Haynesville Shale in Louisiana.  In addition, the company announced two other new unconventional natural gas discoveries and five new unconventional oil projects.  The company believes these discoveries and projects are significant and has decided to increase its capital expenditure budget for 2008 and 2009 in order to increase drilling and leasing activity on these new plays as well as its three most important existing unconventional shale plays: the Barnett Shale, the Fayetteville Shale and the Marcellus and Lower Huron Shales in Appalachia.
 
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