![]() ![]() In 1997, the company wrote down the value of its assets by over $200 million, approximately equal to shareholder's equity at the time, due to low commodity prices and implemented a turnaround plan. In the mid-1990s, the company unsuccessfully attempted to extend the Austin Chalk play into western and central Louisiana. įocusing on a strategy of drilling horizontal natural gas wells in unconventional reservoirs, the company built a sizable position in the Golden Trend and Sholem Alechem fields of South-central Oklahoma and in the Giddings field of Southeast Texas. In 1993, the company became a public company via an initial public offering, with a valuation of $25 million. Ward left the company in 2006 to establish SandRidge Energy. McClendon named the company after Chesapeake Bay due to his love of the region. Ward with an initial investment of $50,000. The company was founded in 1989 by Aubrey McClendon and Tom L. As of December 31, 2021, the company had 1,596 million barrels of oil equivalent (9.76 ×10 9 GJ) of estimated proved reserves, of which 69% was natural gas, 23% was petroleum, and 8% was natural gas liquids. In 2021, the company produced 463 thousand barrels of oil equivalent (2,830,000 GJ) per day, of which 69% was natural gas, 24% was petroleum, and 7% was natural gas liquids. ![]() Chesapeake Energy Corporation is an American exploration and production company, headquartered in Oklahoma City. ![]()
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