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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
AUGUST 19, 1999 (AUGUST 18, 1999)
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CHESAPEAKE ENERGY CORPORATION
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(Exact name of Registrant as specified in its Charter)
OKLAHOMA 1-13726 73-1395733
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(State or other jurisdiction (Commission (IRS Employer Identification No.)
of incorporation) File Number)
6100 NORTH WESTERN AVENUE, OKLAHOMA CITY, OKLAHOMA 73118
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(Address of principal executive offices) (Zip Code)
(405) 848-8000
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(Registrant's telephone number, including area code)
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INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. OTHER EVENTS
On August 18, 1999, Chesapeake Energy Corporation ("Chesapeake") issued
a press release announcing it had fully exercised a common stock purchase
warrant issued to it from Gothic Energy Corporation.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits. The following exhibit is filed herewith:
99. Press Release issued by the Registrant on August 18, 1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CHESAPEAKE ENERGY CORPORATION
BY: /S/ AUBREY K. MCCLENDON
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AUBREY K. MCCLENDON
Chairman of the Board and
Chief Executive Officer
Dated: August 18, 1999
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EXHIBIT INDEX
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EXHIBIT DESCRIPTION
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99 Press Release issued by the Registrant on August 18, 1999.
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EXHIBIT 99
CONTACT: MARC ROWLAND,
CHIEF FINANCIAL OFFICER
(405) 879-9232
FOR IMMEDIATE RELEASE TOM PRICE, VICE PRESIDENT-
AUGUST 18, 1999 CORPORATE DEVELOPMENT
(405) 879-9257
CHESAPEAKE ENERGY CORPORATION ANNOUNCES
EXERCISE OF GOTHIC COMMON STOCK WARRANT
OKLAHOMA CITY, OKLAHOMA, AUGUST 18, 1999 - Chesapeake Energy Corporation (NYSE:
CHK) today announced that it had fully exercised on a cashless basis the common
stock purchase warrant issued to it from Gothic Energy Corporation in March 1998
and had thereby acquired 2,394,125 shares of Gothic's common stock. Chesapeake
now owns approximately 13% of Gothic's common stock.
The warrant for 2,439,246 shares had been issued to Chesapeake as part of a
transaction involving the acquisition by Chesapeake of shares of Gothic's Senior
Redeemable Preferred Stock, a 50% interest in Gothic's Arkoma basin natural gas
and oil properties and a 50% interest in substantially all of Gothic's
undeveloped acreage. The shares were issued pursuant to the cashless exercise
provisions of the warrant that permitted Chesapeake to surrender the right to
exercise the warrant in exchange for a number of shares (45,121) of Gothic
common stock.
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The information in this release includes certain forward-looking statements that
are based on assumptions that in the future may prove not to have been accurate.
Those statements, and Chesapeake Energy Corporation's business and prospects,
are subject to a number of risks, including production variances from
expectations, uncertainties about estimates of reserves, volatility of oil and
gas prices, the need to develop and replace reserves, the substantial capital
expenditures required to fund operations, environmental risks, drilling and
operating risks, risks related to exploratory and developmental drilling,
competition, government regulation, and the ability of the company to implement
its business strategy. These and other risks are described in the company's
documents and reports that are available from the United States Securities and
Exchange Commission, including the report filed on Form 10-K for the year ended
December 31, 1998 and the report filed on Form 10-Q for the quarter ended March
31, 1999.
Chesapeake Energy Corporation is an independent natural gas producer
headquartered in Oklahoma City. The company's operations are focused on
developmental drilling and property acquisitions in the Mid-Continent region of
the United States. The company's Internet address is www.chesapeake-energy.com.
