Chesapeake Energy are the largest producer of natural gas in the United States. Chesapeake Energy own interests in approximately 39,200 producing natural gas and oil wells that are currently producing approximately 2.3 billion cubic feet equivalent, or bcfe, per day, of which 92% is natural gas. Their strategy is focused on discovering, acquiring, and developing conventional and unconventional natural gas reserves onshore in the U.S., east of the Rocky Mountains.
Chesapeake Energy's most important operating area has historically been in the Mid-Continent region of Oklahoma, Arkansas, southwestern Kansas and the Texas Panhandle. At March 31, 2008, 47% of their estimated proved natural gas and oil reserves were located in the Mid Continent Region. During the past five years, Chesapeake Energy have also built significant positions in various conventional and unconventional plays in the Fort Worth Basin in north-central Texas; the Appalachian Basin, principally in West Virgina, eastern Kentucky, eastern Ohio, Pennsylvania and southern New York; the Permian and Delaware Basins of West Texas and eastern New Mexico; the Ark-La-Tex area of East Texas and northern Louisiana; and the South Texas and Texas Gulf Coast regions. Chesapeake Energy have established a top-three position in nearly every major unconventional play onshore in the U.S. east of the Rockies, including the Barnett Shale, the Arkansas Fayetteville Shale, the Louisiana Haynesville Shale, the Appalachian Basin Devonian and Marcellus Shales, the Delaware Basin Barnett and Woodford Shales in West Texas, and the Alabama Conasauga and Chattanooga Shales.