Chesapeake Energy Corporation Names Robert Douglas Lawler Chief Executive Officer

  Chesapeake Energy Corporation Names Robert Douglas Lawler Chief Executive
  Officer

   Anadarko Executive Brings Expertise in Asset Development and Management,
         Capital Allocation, and Operational Efficiency to Chesapeake

Business Wire

OKLAHOMA CITY -- May 20, 2013

Chesapeake Energy Corporation (NYSE: CHK) today announced that Robert Douglas
(“Doug”) Lawler, 46, Senior Vice President, International and Deepwater
Operations at Anadarko Petroleum (NYSE: APC), will join Chesapeake as Chief
Executive Officer and a member of the Board of Directors, effective June 17.
Mr. Lawler is a petroleum engineer with 25 years of experience in the upstream
Exploration and Production industry who has served in increasingly senior
leadership roles at Anadarko, the second-largest independent upstream company
in the U.S. with a $45 billion market capitalization. He is a proven oil and
gas executive with significant expertise in asset development, operations
management and engineering as well as experience in corporate and strategic
planning.

With Mr. Lawler assuming the CEO position at Chesapeake, the Office of the
Chairman will be discontinued and Archie W. Dunham, Steven C. Dixon and
Domenic J. Dell’Osso Jr. will continue to serve in their roles as
non-executive Chairman of the Board, Executive Vice President of Operations
and Geosciences and Chief Operating Officer, and Executive Vice President and
Chief Financial Officer, respectively.

Mr. Dunham, Chairman of the Board, said: “Doug is a talented and proven
executive with the ideal skill set to lead Chesapeake forward and capitalize
fully on our world-class assets. Throughout his 25 years in the upstream E&P
industry, Doug has earned a reputation as a highly engaged and knowledgeable
leader who delivers superior operational performance and capital efficiency.
The Board is confident that Doug’s deep technical upstream and engineering
expertise as well as his strategic and financial skills will serve Chesapeake
well. We look forward to working with him to create value for Chesapeake
shareholders.”

Mr. Dunham continued: “We thank Steve and Nick for the key roles they played
in this transition and for their exemplary service as members of the Office of
the Chairman during our CEO search. The Company did not miss a beat during
this interim period, and their effective collaboration reflects their strong
leadership skills and teamwork ethic. Steve, Nick, and the rest of the
executive group, under Doug’s leadership, will form a highly talented and
experienced management team that will lead Chesapeake into its next phase of
success and prosperity.”

Mr. Lawler said: “I am honored and excited to be joining Chesapeake Energy
with its unparalleled asset portfolio, focused management team and very
talented and dedicated employees. There is significant value in Chesapeake’s
asset base and the growth potential of the Company is tremendous. I look
forward to accelerating the momentum that the Chesapeake team has built to
generate value for our shareholders in the years ahead.”

During Mr. Lawler’s 25 years at Anadarko and Kerr-McGee, he served in multiple
engineering and leadership positions within a diverse geographic portfolio
including U.S. Onshore, deepwater Gulf of Mexico and international assets. He
was most recently Senior Vice President, International and Deepwater
Operations and a member of Anadarko’s Executive Committee. In this capacity,
he was responsible for new and existing developments, including Anadarko’s
significant multi-train LNG project in Mozambique. In addition, Mr. Lawler has
been instrumental in Anadarko’s achievement of industry-leading operational
and capital efficiency. He previously served as Anadarko’s Vice President,
Operations for the Southern and Appalachia Region, where he directed the
development of four major shale plays: Eagle Ford, Marcellus, Haynesville and
Permian Bone Spring/Avalon. Prior to that, he held positions of increasing
responsibility within Anadarko’s operations, business planning and analysis
departments, including Vice President, Corporate Planning. Mr. Lawler began
his career in 1988 at Kerr-McGee, which was acquired by Anadarko in 2006.

Mr. Lawler is a member of the Society of Petroleum Engineers, the World
Affairs Council and The Houston Museum of Natural Science. He holds a Bachelor
of Science degree in Petroleum Engineering from the Colorado School of Mines
and an MBA from Rice University. He and his family are in the process of
relocating to Oklahoma City.

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 Operating, L.L.C. Further information is available at
www.chk.com where Chesapeake routinely posts announcements, updates, events,
investor information, presentations and news releases.

This news release includes "forward-looking statements" that give Chesapeake's
current expectations or forecasts of future events, including developments in
litigation. 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
assumptions or by known or unknown risks and uncertainties, 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.

Contact:

Chesapeake Energy Corporation
Jeffrey L. Mobley, CFA, 405-767-4763
jeff.mobley@chk.com
or
Gary T. Clark, CFA, 405-935-6741
gary.clark@chk.com
or
Michael Kehs, 405-935-2560
michael.kehs@chk.com
or
Jim Gipson, 405-935-1310
jim.gipson@chk.com