Chesapeake Energy Subsidiary Peake Fuel Solutions Introduces Cost-Saving Diesel Natural Gas (DNG) Conversion Kit for Heavy-Duty Trucks
Only Conversion Kit EPA Certified for 2010-12 New On-road Diesel
Engines
Peake Fuel Solutions, L.L.C., a wholly-owned subsidiary of Chesapeake
Energy Corporation (NYSE:CHK), today announced the development of a new,
transformative diesel
natural gas (DNG) conversion kit, a product that will help
heavy-duty truck operators save up to 30% on their fuel costs.
DNG allows trucks to run on a mixture of diesel and up to 70% clean,
affordable, abundant, American natural gas. When compressed natural gas
(CNG) or liquefied natural gas (LNG) fuels are not available, trucks
retain the ability to run on 100% diesel.
'The trucking industry is the backbone of our nation′s economy, and
Peake Fuel Solutions′ DNG technology can help the industry slash its
biggest cost ? fuel,? said Kent Wilkinson, Vice President ? Natural Gas
Ventures, Chesapeake. 'DNG will help accelerate the trucking industry′s
shift to a more affordable, domestic fuel.?
Long-term natural gas prices in the $4-6 per mcf range will translate
into CNG and LNG prices of around $2.00 per diesel gallon equivalent, or
about 50% lower than diesel prices. Assuming a typical DNG blend,
truckers would save approximately $0.20 per mile on their fuel costs.
Peake′s innovative conversion kit has been approved by the U.S.
Environmental Protection Agency (EPA) for a variety of engines. The
certificate of conformity makes it the only dual-fuel natural gas
retrofit certified by the EPA, allowing DNG kits to modify a variety of
engines from model years 2010-12 that encompass power ratings from 400
to 600 horsepower.
Peake has begun accepting pre-orders for DNG kits, with widespread
commercial availability expected in the first quarter of 2013. Fleet and
truck owners can email info@peakefuelsolutions.com
to learn more.
Natural gas is a reliable and cleaner-burning source of fuel for
consumers of gasoline and diesel, and the return on investment for a DNG
conversion kit is typically less than 18 months. Interested DNG
customers can calculate their expected fuel savings and the timeline for
investment payback through an online
calculator at www.peakefuelsolutions.com.
Additionally, Peake offers complete natural gas fueling solutions
including the unique CNG In A Box? system, a fully integrated CNG
fueling supply system offering plug-and-play simplicity for fleet and
retail fueling stations; CNG fuel management modules; and fuel tank
modules in frame-rail and behind-cab configurations.
Peake Fuel Solutions advances innovative fuel solutions with
products and services that use clean, affordable, abundant natural gas.
A significant focus of Peake is to increase CNG and LNG infrastructure
across the U.S. An affiliate of Chesapeake Energy Corporation, Peake
leverages the expertise of other Chesapeake affiliates to implement many
of its fuel solutions. Further information is available at www.peakefuelsolutions.com.
Chesapeake Energy Corporation (NYSE:CHK) is the second-largest
producer of natural gas, a Top 15 producer of oil and natural gas
liquids and the most active driller of new wells in the U.S.Headquartered
in Oklahoma City, the company's operations are focused on discovering
and developing unconventional natural gas and oil fields onshore in the
U.S.Chesapeake owns leading positions in the Eagle Ford,
Utica, Granite Wash, Cleveland, Tonkawa, Mississippi Lime and Niobrara
unconventional liquids plays and in the Marcellus, Haynesville/Bossier
and Barnett unconventional natural gas shale plays. The company also
owns substantial marketing and oilfield services businesses through its
subsidiaries Chesapeake Energy Marketing, Inc. and Chesapeake Oilfield
Services, L.L.C.Further information is available at www.chk.com
where Chesapeake routinely posts announcements, updates, events,
investor information, presentations and news releases.
Chesapeake Energy Corporation
Bob Jarvis, 405-935-2572
bob.jarvis@chk.com
