Chesapeake Energy Corporation Declares Quarterly Common and Preferred Stock Dividends

  Chesapeake Energy Corporation Declares Quarterly Common and Preferred Stock

Business Wire

OKLAHOMA CITY -- September 24, 2012

Chesapeake Energy Corporation (NYSE:CHK) today announced that its Board of
Directors has declared a $0.0875 per share quarterly dividend that will be
paid on October 31, 2012 to common shareholders of record on October 15, 2012.
Chesapeake has approximately 665 million common shares outstanding. In
addition, Chesapeake’s Board has declared dividends on its outstanding
convertible preferred stock issues, as stated below.

              4.50%         5% (2005B)    5.75%         5.75%
                                                                    (Series A)
NYSE Symbol    CHK Pr D      N/A           N/A           N/A
Date of          September        November         May 17,          May 17,
Original       14, 2005      8, 2005       2010          2010
Registered     165167842     165167826     N/A           N/A
144A CUSIP     N/A           165167834     165167776     165167784
RegS CUSIP     N/A           N/A           U16450204     U16450113
Clean (no
legends)       N/A           N/A           165167768     N/A
Par Value      $0.01         $0.01         $0.01         $0.01
per Share
Shares         2,558,900     2,095,615     1,497,000     1,100,000
Preference     $100          $100          $1,000        $1,000
per Share
Record Date    December      November      November      November
                 3, 2012          1, 2012          1, 2012          1, 2012
Payment Date   December      November      November      November
                 17, 2012         15, 2012         15, 2012         15, 2012
Amount per     $1.125        $1.25         $14.375       $14.375

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 where Chesapeake routinely posts announcements, updates, events,
investor information, presentations and news releases.


Chesapeake Energy Corporation
Investor Contacts:
Jeffrey L. Mobley, CFA, 405-767-4763
John J. Kilgallon, 405-935-4441
Media Contacts:
Michael Kehs, 405-935-2560
Jim Gipson, 405-935-1310
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