Chesapeake Energy Corporation Reports Financial and Operational Results for the 2012 Second Quarter


Company Reports 2012 Second Quarter Net Income to Common Stockholders of $929 Million, or $1.29 per Fully Diluted Common Share, on Revenue of $3.4 Billion; Company Reports Adjusted Net Income Available to Common Stockholders of $3 Million, or $0.06 per Fully Diluted Common Share, Adjusted Ebitda of $803 Million and Operating Cash Flow of $895 Million

2012 Second Quarter Average Daily Total Production of 3.808 Bcfe per Day Increases 25% Year over Year and 4% Sequentially; 2012 Second Quarter Daily Liquids Production Increases 65% Year over Year and 15% Sequentially to 130,200 Bbls per Day, or 21% of Total Production

2013 Liquids Production Projected to Increase 32% and 2013 Natural Gas Production to Decrease 7%

Company Anticipates Entering into Sales of Approximately $7.0 Billion in the 2012 Third Quarter, Bringing Expected 2012 Sales through the Third Quarter to Approximately $11.7 Billion

Strong 2012 First Half Proved Reserve Additions of 4.2 Tcfe Exceeded by Price-Related Downward Revisions of 4.6 Tcfe Largely Attributable to Removing Barnett and Haynesville PUDs; Total Proved Reserves Decrease 7% Year to Date to 17.4 Tcfe, or 2.9 Bboe