Chesapeake Energy Corporation Announces Its Service Industry Affiliate Chesapeake Oilfield Services Files IPO Registration Statement
Chesapeake Energy Corporation (NYSE:CHK) announced today that its wholly
owned service industry affiliate Chesapeake Oilfield Services, Inc. has
filed a registration statement with the Securities and Exchange
Commission ('SEC?) relating to the proposed initial public offering
('IPO?) of shares of its Class A common stock. Application will be made
to list the Class A common stock on the New York Stock Exchange under
the symbol 'COS.?
A registration statement relating to these securities has been filed
with the SEC, but has not yet become effective. These securities may not
be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. The registration statement is
available on the SEC's website at http://www.sec.gov
under the registrant's name, 'Chesapeake Oilfield Services, Inc.' This
press release shall not constitute an offer to sell or a solicitation of
an offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction.
This press release contains forward-looking statements within the
meaning of the federal securities laws. These forward-looking statements
involve certain risks and uncertainties, including, among others, market
conditions or other factors that could result in the delay or
cancellation of the offering.We caution you not to place undue
reliance on our forward-looking statements, which speak only as of the
date of this news release, and we undertake no obligation to update this
information.
Headquartered in Oklahoma City, Chesapeake Energy Corporation
(NYSE:CHK) is focused on discovering and developing unconventional
natural gas and oil fields onshore in the U.S.Chesapeake
owns positions in the Barnett, Haynesville, Bossier, Marcellus and
Pearsall natural gas shale plays and in the Eagle Ford, Utica, Granite
Wash, Cleveland, Tonkawa, Mississippi Lime, Bone Spring, Avalon,
Wolfcamp, Wolfberry and Niobrara unconventional liquids plays.The
company has also vertically integrated its operations and owns
substantial marketing, midstream and oilfield services businesses
directly and indirectly through its subsidiaries Chesapeake Energy
Marketing Inc., Chesapeake Midstream Development, L.P. and COS
Holdings,, L.L.C. and its affiliate Chesapeake Midstream Partners, L.P.
(NYSE:CHKM).
Chesapeake Oilfield Services, Inc. is a newly formed corporation
that, following the offering, will own an interest in COS Holdings,
L.L.C., Chesapeake′s oilfield services holding company.COS
Holdings, L.L.C. is a diversified oilfield services company that
provides a wide range of well site and other services, including
drilling and related services, hydraulic fracturing, oilfield rentals,
oilfield trucking and manufacturing of natural gas compressor packages,
primarily to Chesapeake Energy Corporation and its partners.Headquartered
in Oklahoma City, COS Holdings, L.L.C. provides services in the Eagle
Ford, Utica, Granite Wash, Cleveland, Tonkawa, Mississippi Lime, Bone
Spring, Avalon, Wolfcamp, Wolfberry and Niobrara unconventional liquids
plays and the Barnett, Haynesville, Bossier, Marcellus and Pearsall
natural gas shale plays.
Chesapeake Energy Corporation
Investor Relations:
Jeffrey L.
Mobley, CFA, 405-767-4763
jeff.mobley@chk.com
or
John
J. Kilgallon, 405-935-4441
john.kilgallon@chk.com
or
Media
Relations:
Michael Kehs, 405-935-2560
michael.kehs@chk.com
or
Jim
Gipson, 405-935-1310
jim.gipson@chk.com
