Pennsylvania Update
We want to take this opportunity to update you, the stakeholders and elected officials of northeast Pennsylvania, about our operations, our activities in the community and how we are continuing to be a responsible community partner.
June 2024
Operational and Financial Update
On Apr. 30, Chesapeake reported its 2024 first quarter financial and operating results. To learn more, see our news release, presentation and earnings highlights.
Given the continued weak natural gas market, our 2024 plan is focused on disciplined operating and operational efficiency. We believe this is the prudent response to today’s current market. With our well-positioned portfolio, investment grade quality and disciplined strategy, Chesapeake will be well-positioned to meet demand for natural gas when the market recovers.
1Q24 Marcellus Business Unit Snapshot
Drilling:
- Averaged 4 active rigs
- 16 wells drilled
Production:
- 15 wells turned-in-line
- 1.720 net production (bcfe/d)
- 54% of total company production
- 100% Responsibly Sourced Gas (RSG)
Company News
2023 Sustainability Report Published
Chesapeake published its 2023 Sustainability Report, marking the company’s 12th year reporting on its environmental, social and governance (ESG) performance and the company’s resilience in a lower carbon future.
This reporting reflects the company’s commitment to transparency, enhanced disclosures and measurable progress. View the full report here.
In The Community
Inspiring Young Minds, Earth Day Sponsorship and More
Over the past quarter, employees continued to be active in the community, participating in six volunteer events with 28 employees volunteering 112 hours.
Highlights include:
- Bradford/Sullivan Career Day – The Northern Tier Regional Planning and Development Commission invited Chesapeake to their Bradford/Sullivan Career Day. Presenters discussed their personal education, training, vocational history and daily responsibilities with ~800 students.
- SRU Elementary School Career Day – CHK Lease Operator Daryl Kingsley participated in Career Day at the SRU Elementary School in East Smithfield. He spoke with students about how he decided on his career, what education was required and what a typical day looks like.
- Bradford County Conservation District – As a sponsor of the Earth Day event, Chesapeake donated $2,000 Bradford County Conservation District. Employees also purchased and distributed 200 white oak seedlings to visitors at the event.
- CHOP (Child Hunger Outreach Partners) – We continued our regular monthly CHOP H.E.L.P. events to pack bags of food for the children in the local community.
- Bradford County Humane Society – Several employees volunteered with the Bradford County Humane Society to walk dogs, socialize with the cats and work on the center’s landscaping.
- Seven Loaves Soup Kitchen – Employees volunteered at this Soup Kitchen in Tunkhannock in Wyoming County, which serves daily meals to those in need.
Additionally, at the United Way of Bradford County Annual Meeting and Campaign Breakfast, Chesapeake announced that they would be their 2024 – 2025 Campaign Corporate Sponsor. A check presentation with the United Way Executive Director and all the Sayre employees took place in May at our employee meeting.
ESG Update
Chesapeake Recognized as Best in ESG Reporting
Chesapeake was recently recognized for Best ESG Reporting among small to mid-cap companies by IR Magazine. A panel of expert judges, made up of investment professionals and IR Magazine editorial team members, decided the award winner after highlighting six nominees. Chesapeake received the recognition at the magazine’s annual awards program during which more than 400 investor relations professionals gathered in New York City
For more information on our sustainability efforts, visit chk.com/sustainability, and stay up to date on Chesapeake employees’ related activities on www.chk.com/category/esg-news/.
Questions/Contact Information
Our team in Sayre is speaking with landowners every day as we prepare for future development. If you have questions, please reach out to any of the following on our team
Seth Caputo
Senior Staff Landman
Seth.Caputo@chk.com
Shannon Brooks
Landman
Shannon.Brooks@chk.com
Matt Sheppard
Government & Regulatory Affairs
Matt.Sheppard@chk.com