Chesapeake Energy Corp.

Chesapeake Energy Corp. has retained Meagher Oil & Gas Properties Inc. to sell operated producing wells and leasehold in the Piceance Basin in Rio Blanco County, Colorado. The package includes an 89% average net working interest (70% average net revenue interest) in 10,860 gross acres (9,520 net) in White River Dome Field. The assets include 48 operated wells targeting the Mesaverde and Wasatch formations with 28 producing, five shut-in, 14 temporarily abandoned and one saltwater disposal. All leases are held by production. Projected production for November is 3.58 million cubic feet equivalent per day (2.61 million net) with projected monthly cash flow of $327,500. Proved reserves are 108 billion cubic feet equivalent gross (78.9 billion net). Upside includes 62 proved undeveloped Mesaverde and Wasatch locations. Other operators in area are utilizing 20- and 10-acre spacing compared with current 40-acre spacing used in the field. The bid due date is Dec. 4. The effective date is Nov. 1. The closing date is Dec. 19. Contact Julia Foster, 303-721-6354, ext. 229.