OKLAHOMA CITY, Dec. 17, 2018 /PRNewswire/ -- Chesapeake Energy
Corporation (NYSE: CHK) announced today the expiration and final
results of its previously announced offer to purchase its 2.25%
Contingent Convertible Senior Notes due 2038 (the "Notes") at the
option of the holders of the Notes pursuant to the terms of the
Notes. The offer to purchase expired at 5:00
P.M., New York time, on
December 12, 2018 and withdrawal
rights with respect to tendered Notes expired at 5:00 p.m. New
York time, on December 14,
2018. Holders of an aggregate of $7,809,000 principal amount of the Notes
exercised the holders' right to surrender their Notes for
repurchase, and an aggregate of $923,000 principal amount of the Notes remains
outstanding. The repurchase price for any Notes that have been
validly surrendered for purchase and not withdrawn will be paid
promptly following the later of December 17,
2018 and the time of valid surrender of such Notes to the
paying agent.
The holders' right to surrender their Notes for repurchase was
made pursuant to the terms of a Company Notice dated October 31, 2018 (as amended, the "Company
Notice"), which was attached as an exhibit to the Tender Offer
Statement on Schedule TO filed by Chesapeake with the SEC on
October 31, 2018. Holders of the
Notes and other interested parties may obtain a free copy of these
documents at the Securities and Exchange Commission's website,
www.sec.gov, or from the trustee, which is The Bank of New York
Mellon Trust Company, N.A.
The address for The Bank of New York Mellon is:
The Bank of New York Mellon Trust Company, N.A. 111 Sanders Creek
Parkway
East Syracuse, NY 13057
Attention: Eric Herr
315-414-3362
This news release is for informational purposes only and does
not constitute an offer to purchase, or solicitation of an offer to
sell, any Notes. None of Chesapeake, its board of directors, or its
employees makes any recommendation to any holder as to whether to
exercise or refrain from exercising their right to surrender Notes
for repurchase, and no one has been authorized by any of them to
make such a recommendation.
Headquartered in Oklahoma
City, Chesapeake Energy Corporation's (NYSE: CHK) operations
are focused on discovering and developing its large and
geographically diverse resource base of unconventional oil and
natural gas assets onshore in the United
States. The company also owns an oil and natural gas
marketing business.
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INVESTOR
CONTACT:
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MEDIA
CONTACT:
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CHESAPEAKE ENERGY
CORPORATION
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Brad Sylvester,
CFA
(405)
935-8870
ir@chk.com
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Gordon
Pennoyer
(405)
935-8878
media@chk.com
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6100 North Western
Avenue
P.O. Box
18496
Oklahoma City, OK
73154
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This news release includes "forward-looking statements"
that give Chesapeake's current expectations or forecasts of future
events, including the timing of the settlement of the repurchase.
Although we believe the expectations and forecasts reflected in our
forward-looking statements are reasonable, we can give no assurance
they will prove to have been correct. They can be affected by
inaccurate or changed assumptions or by known or unknown risks and
uncertainties (including those stated in Chesapeake's Annual Report
on Form 10-K for the year ended December 31,
2017 and Chesapeake's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2018),
and actual results may differ from the expectation expressed. 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, except
as required by applicable law.
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SOURCE Chesapeake Energy Corp.