Chesapeake Energy Corporation is the third largest independent producer of natural gas in the U.S. Headquartered in Oklahoma City, the company’s operations are focused on exploratory and developmental drilling and corporate and property acquisitions in the Mid-Continent, Permian Basin, South Texas, Texas Gulf Coast, Barnett Shale, Ark-La-Tex and Appalachian Basin regions of the United States. Our common stock is listed on the New York Stock Exchange under the symbol: CHK.

Chesapeake Energy Corporation (NYSE:CHK) today announced that it has acquired or has agreed to acquire approximately 8,500 net undeveloped leasehold acres in the heart of the Barnett Shale play in Tarrant County, Texas, from Four Sevens Resources Co., Ltd., Sinclair Oil & Gas Company and several of their affiliates and partners. In addition, Chesapeake announced that it has entered into a Land Services Agreement whereby Four Sevens and Sinclair have agreed to work on an exclusive basis in certain areas of Tarrant County, Texas to acquire leases on Chesapeake’s behalf. This complements a similar Land Services Agreement Chesapeake has in place with Dale Property Services, LLC covering different portions of Tarrant County.Including these land service agreements and its own landmen and lease brokers, Chesapeake now has a substantial competitive advantage with over 750 landmen and lease brokers dedicated to acquiring additional undeveloped leasehold and surface drillsites in Tarrant County. Chesapeake believes its drillsite and leasehold acquisition commitment to Tarrant County should enable it to continue acquiring at least 30,000 net leasehold acres per year in what is quickly becoming the most prolific county in the Fort Worth Barnett Shale play. This anticipated yearly addition to the company’s leasehold inventory should provide up to an additional 500 drillsites per year, more than offsetting the number of wells Chesapeake plans to drill each year in Tarrant County.