CHK » Topics » Swap Positions as of June 5, 2006

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

Swap Positions as of June 5, 2006

 

     Natural Gas    Oil

Quarter or Year

   % Hedged     $ NYMEX    % Hedged     $ NYMEX

2006 3Q

   93 %   $ 8.85    84 %   $ 63.90

2006 4Q

   86 %   $ 9.50    85 %   $ 63.76
                         

2006 Total Remaining

   89 %   $ 9.17    84 %   $ 63.83
                         

2007 Total

   69 %   $ 9.86    56 %   $ 68.79
                         

2008 Total

   55 %   $ 9.34    48 %   $ 69.50
                         

Depending on changes in oil and natural gas futures markets and management’s view of underlying oil and natural gas supply and demand trends, Chesapeake may either increase or decrease its hedging positions at any time in the future without notice.

The company’s updated 2006 and 2007 forecasts are attached to this release in an Outlook dated July 27, 2006 labeled as Schedule “A”, which begins on page 22. This Outlook has been changed from the Outlook dated June 5, 2006 (attached as Schedule “B”, which begins on page 26) to reflect various updated information.

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

Swap Positions as of June 5, 2006

 

 

 

Natural Gas

 

Oil

Quarter or Year

 

% Hedged

 

$ NYMEX

 

% Hedged

 

$ NYMEX

2006 2Q

 

86%

 

$8.88

 

69%

 

$61.85

2006 3Q

 

93%

 

$8.85

 

84%

 

$63.90

2006 4Q

 

86%

 

$9.50

 

85%

 

$63.76

2006 Total Remaining

 

88%

 

$9.08

 

79%

 

$63.24

2007 Total

 

69%

 

$9.86

 

56%

 

$68.79

2008 Total

 

55%

 

$9.34

 

48%

 

$69.50

2009 Total

 

  3%

 

$7.57

 

  2%

 

$66.26

 

This excerpt taken from the CHK 8-K filed May 2, 2006.

Swap Positions as of February 23, 2006

 

     Natural Gas    Oil

Quarter or Year

   % Hedged     $ NYMEX    % Hedged     $ NYMEX

2006 1Q

   74 %   $ 10.72    58 %   $ 60.03

2006 2Q

   73 %   $ 8.82    67 %   $ 61.13

2006 3Q

   74 %   $ 8.87    64 %   $ 61.50

2006 4Q

   64 %   $ 9.36    62 %   $ 61.33
                         

2006 Total

   71 %   $ 9.43    63 %   $ 61.02
                         

2007 Total

   36 %   $ 9.85    22 %   $ 62.42
                         

2008 Total

   22 %   $ 9.10    14 %   $ 65.48
                         

Depending on changes in oil and natural gas futures markets and management’s view of underlying oil and natural gas supply and demand trends, Chesapeake may either increase or decrease its hedging positions at any time in the future without notice.

 

3


The company’s updated 2006 and 2007 forecasts are attached to this release in an Outlook dated May 1, 2006 labeled as Schedule “A”, which begins on page 17. This Outlook has been changed from the Outlook dated February 23, 2006 (attached as Schedule “B”, which begins on page 21) to reflect various updated information.

This excerpt taken from the CHK 8-K filed Feb 24, 2006.

Swap Positions as of January 17, 2006

 

 

 

Natural Gas

 

Oil

Quarter or Year

 

% Hedged

 

$ NYMEX

 

% Hedged

 

$ NYMEX

2006 1Q

 

74%

 

$10.72

 

58%

 

$60.03

2006 2Q

 

57%

 

$8.71

 

60%

 

$60.27

2006 3Q

 

56%

 

$8.72

 

57%

 

$60.56

2006 4Q

 

46%

 

$9.01

 

55%

 

$60.30

2006 Total

 

58%

 

$9.38

 

57%

 

$60.29

2007

 

23%

 

$9.72

 

15%

 

$59.79

2008

 

13%

 

$8.82

 

7%

 

$63.94

 

Depending on changes in oil and natural gas futures markets and management’s view of underlying oil and natural gas supply and demand trends, Chesapeake may either increase or decrease its hedging positions at any time in the future without notice.

The company’s updated first quarter 2006 and full-year 2006 and 2007 forecasts are attached to this release in an Outlook dated February 23, 2006 labeled as Schedule “A”. This Outlook has been changed from the Outlook dated January 17, 2006 (attached as Schedule “B” for investors’ convenience) to reflect various updated information.

This excerpt taken from the CHK 8-K filed Feb 15, 2006.

Swap Positions as of January 17, 2006

 

 

 

Natural Gas

 

Oil

Quarter or Year

 

% Hedged

 

$ NYMEX

 

% Hedged

 

$ NYMEX

2006 1Q

 

74%

 

$10.72

 

58%

 

$60.03

2006 2Q

 

57%

 

$8.71

 

60%

 

$60.27

2006 3Q

 

56%

 

$8.72

 

57%

 

$60.56

2006 4Q

 

46%

 

$9.01

 

55%

 

$60.30

2006 Total

 

58%

 

$9.38

 

57%

 

$60.29

2007

 

23%

 

$9.72

 

15%

 

$59.79

2008

 

13%

 

$8.82

 

7%

 

$63.94

 

Depending on changes in oil and natural gas futures markets and management’s view of underlying oil and natural gas supply and demand trends, Chesapeake may either increase or decrease its hedging positions at any time in the future without notice.

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