Chesapeake Granite Wash Trust Announces 2012 First Quarter Results Release Date and Conference Call Information

Chesapeake Granite Wash Trust (“Trust”) (NYSE:CHKR) has scheduled its 2012 first quarter results to be released after the close of trading on the New York Stock Exchange on Thursday, May 10, 2012.

Chesapeake Energy Corporation (NYSE:CHK), the sponsor of the Trust, has scheduled a conference call to discuss the release for Friday, May 11, 2012 at 8:30 am EDT. The telephone number to access the conference call is 913-312-0956 or toll-free 888-737-3702. The passcode for the call is 2439151. We encourage those who would like to participate in the call to place calls between 8:20 and 8:30 am EDT.

For those unable to participate in the conference call, a replay will be available for audio playback at 2:00 pm EDT on Friday, May 11, 2012 and will run through midnight Friday, May 25, 2012. The number to access the conference call replay is 719-457-0820 or toll-free 888-203-1112. The passcode for the replay is 2419151.

The conference call will also be webcast live on the Trust’s website at www.chkgranitewashtrust.com in the “Investors” section of the website. The webcast of the conference call will be available on the Trust’s website for one year.

ABOUT CHESAPEAKE GRANITE WASH TRUST:

Chesapeake Granite Wash Trust is a Delaware statutory trust formed by Chesapeake Energy Corporation to own certain royalty interests in oil and natural gas wells in Washita County, Oklahoma, producing from the Colony Granite Wash Play within the broader Granite Wash formation of the Anadarko Basin. The common units do not represent interests in and are not obligations of Chesapeake Energy Corporation. Further information is available at www.chkgranitewashtrust.com where Chesapeake Granite Wash Trust routinely posts announcements, updates, investor information and news releases.

ABOUT CHESAPEAKE ENERGY CORPORATION:

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 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 Chesapeake Oilfield Services, L.L.C. and its affiliate Chesapeake Midstream Partners, L.P. (NYSE:CHKM). Further information is available at www.chk.com where Chesapeake routinely posts announcements, updates, events, investor information, presentations and news releases.

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