This document provides an update on Chesapeake Energy's proposed acquisition of WildHorse Resource Development Corporation. It discusses the benefits of the transaction, including increasing Chesapeake's oil production and margins. It also highlights opportunities to realize cost savings and capture additional marketing synergies through the combined Eagle Ford asset base. The acquisition accelerates Chesapeake's strategic plan to transition to positive free cash flow and improve its financial and operational profile.
This document provides an update on the proposed acquisition of WildHorse Resource Development Corporation by Chesapeake Energy Corporation from December 2018. It outlines that the transaction value is $3.977 billion, with WildHorse shareholders receiving either Chesapeake stock or stock plus cash per WildHorse share. The acquisition is expected to accelerate Chesapeake's strategic plan by enhancing margins from high-value oil production, accelerating the transition to positive free cash flow, and accelerating debt reduction. The combined company will have a premier Eagle Ford asset base and increased production. Chesapeake shareholders will own 55% and WildHorse shareholders 45% of the combined company.
The document provides an update on Chesapeake Energy's proposed acquisition of WildHorse Resource Development Corporation. It discusses how the acquisition will accelerate Chesapeake's strategic plan by increasing margins, cash flow generation, and oil production. The acquisition adds a significant Eagle Ford asset to Chesapeake's portfolio and is expected to improve the company's financial and operational metrics. Cost savings of $200-280 million annually from operational and capital efficiencies are estimated to total $1-1.5 billion over five years. The combined company will have a diversified portfolio of oil and gas assets across multiple basins with significant high-margin oil growth potential.
1) Chesapeake Energy Corporation announced the acquisition of WildHorse Resource Development Corporation for total consideration of approximately $3.977 billion.
2) The acquisition accelerates Chesapeake's strategic plan by increasing oil production and margins from WildHorse's high-quality Eagle Ford assets.
3) The combination is expected to generate annual cost savings of $200-280 million per year and $1.0-1.5 billion in total savings over five years, improving Chesapeake's financial profile.
1) Chesapeake Energy Corporation is acquiring WildHorse Resource Development Corporation to accelerate its strategic plan and transition to positive free cash flow.
2) The acquisition enhances Chesapeake's margins through WildHorse's high-value oil production and is expected to increase Chesapeake's oil production and percentage of oil.
3) The combined company will benefit from operational efficiencies projected to save $200-280 million annually, accelerating Chesapeake's deleveraging target of 2x net debt to EBITDA by 2020.
Doug Lawler discusses the transformation of Chesapeake Energy Corporation over the past several years. Chesapeake has simplified its business, reduced costs and debt, and optimized its portfolio. The acquisition of WildHorse Resource Development will accelerate Chesapeake's strategic plan by increasing margins, free cash flow, and profitability through high-value oil production. The combined company will be a premier diversified independent with significant high-margin oil growth opportunities.
Waste Connections and Progressive Waste Solutions Conference CallProgressiveWaste
The document discusses a proposed transaction between Waste Connections (WCN) and Progressive Waste Solutions (BIN) that would combine the two waste management companies. Under the terms, WCN shareholders would receive 2.076843 BIN shares for each WCN share they own. The combined company is expected to have annual adjusted EBITDA between $1.25-$1.3 billion and over $625 million in adjusted free cash flow. The transaction is anticipated to generate $50 million in cost savings and provide accretion to adjusted free cash flow per share of over 20% in the first year. The combined management team and board of directors will be comprised primarily of current WCN personnel.
- Terex has agreed to sell its Material Handling & Port Solutions (MHPS) business to Konecranes for total consideration of $1.3 billion, consisting of $820 million in cash and a 25% equity stake in Konecranes.
- The sale will allow Terex to benefit from operational synergies realized by Konecranes, strengthen Terex's balance sheet, and provide flexibility to invest in its remaining business areas and buy back shares.
- Terex can terminate the sale agreement by May 31, 2016 if it reaches a deal to sell its entire business to Zoomlion, paying a $37 million termination fee.
The proposed merger between Terex Corporation and Konecranes Plc would create a global leader in lifting and material handling solutions through a stock-for-stock exchange. Under the terms, Terex shareholders would receive 0.80 Konecranes shares for each Terex share. The combined company would have annual sales of $10 billion and be well-positioned in key categories. The merger is expected to generate $121 million in annual cost synergies within 3 years of closing, while being accretive to shareholders' earnings in the first full year. The transaction is subject to shareholder and regulatory approvals.
This document provides an update on the proposed acquisition of WildHorse Resource Development Corporation by Chesapeake Energy Corporation from December 2018. It outlines that the transaction value is $3.977 billion, with WildHorse shareholders receiving either Chesapeake stock or stock plus cash per WildHorse share. The acquisition is expected to accelerate Chesapeake's strategic plan by enhancing margins from high-value oil production, accelerating the transition to positive free cash flow, and accelerating debt reduction. The combined company will have a premier Eagle Ford asset base and increased production. Chesapeake shareholders will own 55% and WildHorse shareholders 45% of the combined company.
The document provides an update on Chesapeake Energy's proposed acquisition of WildHorse Resource Development Corporation. It discusses how the acquisition will accelerate Chesapeake's strategic plan by increasing margins, cash flow generation, and oil production. The acquisition adds a significant Eagle Ford asset to Chesapeake's portfolio and is expected to improve the company's financial and operational metrics. Cost savings of $200-280 million annually from operational and capital efficiencies are estimated to total $1-1.5 billion over five years. The combined company will have a diversified portfolio of oil and gas assets across multiple basins with significant high-margin oil growth potential.
1) Chesapeake Energy Corporation announced the acquisition of WildHorse Resource Development Corporation for total consideration of approximately $3.977 billion.
2) The acquisition accelerates Chesapeake's strategic plan by increasing oil production and margins from WildHorse's high-quality Eagle Ford assets.
3) The combination is expected to generate annual cost savings of $200-280 million per year and $1.0-1.5 billion in total savings over five years, improving Chesapeake's financial profile.
1) Chesapeake Energy Corporation is acquiring WildHorse Resource Development Corporation to accelerate its strategic plan and transition to positive free cash flow.
2) The acquisition enhances Chesapeake's margins through WildHorse's high-value oil production and is expected to increase Chesapeake's oil production and percentage of oil.
3) The combined company will benefit from operational efficiencies projected to save $200-280 million annually, accelerating Chesapeake's deleveraging target of 2x net debt to EBITDA by 2020.
Doug Lawler discusses the transformation of Chesapeake Energy Corporation over the past several years. Chesapeake has simplified its business, reduced costs and debt, and optimized its portfolio. The acquisition of WildHorse Resource Development will accelerate Chesapeake's strategic plan by increasing margins, free cash flow, and profitability through high-value oil production. The combined company will be a premier diversified independent with significant high-margin oil growth opportunities.
Waste Connections and Progressive Waste Solutions Conference CallProgressiveWaste
The document discusses a proposed transaction between Waste Connections (WCN) and Progressive Waste Solutions (BIN) that would combine the two waste management companies. Under the terms, WCN shareholders would receive 2.076843 BIN shares for each WCN share they own. The combined company is expected to have annual adjusted EBITDA between $1.25-$1.3 billion and over $625 million in adjusted free cash flow. The transaction is anticipated to generate $50 million in cost savings and provide accretion to adjusted free cash flow per share of over 20% in the first year. The combined management team and board of directors will be comprised primarily of current WCN personnel.
- Terex has agreed to sell its Material Handling & Port Solutions (MHPS) business to Konecranes for total consideration of $1.3 billion, consisting of $820 million in cash and a 25% equity stake in Konecranes.
- The sale will allow Terex to benefit from operational synergies realized by Konecranes, strengthen Terex's balance sheet, and provide flexibility to invest in its remaining business areas and buy back shares.
- Terex can terminate the sale agreement by May 31, 2016 if it reaches a deal to sell its entire business to Zoomlion, paying a $37 million termination fee.
The proposed merger between Terex Corporation and Konecranes Plc would create a global leader in lifting and material handling solutions through a stock-for-stock exchange. Under the terms, Terex shareholders would receive 0.80 Konecranes shares for each Terex share. The combined company would have annual sales of $10 billion and be well-positioned in key categories. The merger is expected to generate $121 million in annual cost synergies within 3 years of closing, while being accretive to shareholders' earnings in the first full year. The transaction is subject to shareholder and regulatory approvals.
Whitestone REIT Investor Presentation February 2018whitestonereit1
This document is an investor presentation for Whitestone REIT (WSR). It provides an overview of WSR, including its portfolio of 72 community-centered retail properties totaling 6.6 million square feet in high growth markets. It highlights WSR's strong total shareholder returns that have outperformed peers, solid capital structure, experienced internal management team, and focus on corporate governance and transparency. The presentation is divided into five parts that cover WSR's stock and operating performance, consumer-focused business model and strategy, internal management alignment, board experience and diversity, and governance commitments.
Antero Midstream Partners provides midstream services to Antero Resources in the Marcellus and Utica shale plays, including natural gas gathering and compression. The document outlines Antero Midstream's organic growth strategy through expanding its existing midstream infrastructure to support Antero Resources' increasing production. It also notes potential opportunities for Antero Midstream to expand into additional midstream services such as fresh water distribution, processing, and pipelines.
This document provides an overview of Osisko Gold Royalties Ltd as a world-class growth-oriented royalty company. It discusses Osisko's experienced management team, strong technical team, and history of value creation through its involvement in mining projects over the past 15 years. It also outlines Osisko's high-quality portfolio of royalty and streaming assets that provide cash flow from cornerstone properties in top jurisdictions. Osisko is uniquely positioned for significant growth through its pipeline of additional royalty interests and has an industry-leading forecast for cash flow growth between 2017-2023.
Osisko Gold Royalties is a growth-oriented royalty company that expects to grow its gold equivalent ounce production from 80k oz in 2018 to over 150k oz within the next 5 years. It has a leading and unparalleled growth profile as well as the highest margins in the metals and mining sector. The document contains forward-looking statements regarding Osisko's expectations for future performance.
IntelGenX Investor Presentation June 5, 2017ItelGenx
- IntelGenx Corp. is a drug delivery company focused on oral thin film technologies.
- They have developed a proprietary drug delivery platform called Tri-Layer technology to improve the speed and efficiency of drug absorption through the oral mucosa.
- The presentation provides an overview of IntelGenx's management team, facilities, product pipeline, and financial information to investors considering an investment in the company.
Gold Terra Corp presents on its multi-million ounce gold potential in Yellowknife, Northwest Territories, Canada. The presentation discusses Gold Terra's properties in the Yellowknife gold camp which has produced over 14 million ounces of gold. It provides an overview of the company's drilling results that indicate the potential for a significant gold system. The presentation cautions that any mineral estimates are not mineral reserves or proven resources and do not have demonstrated economic viability at this stage. It notes the inherent risks and uncertainties involved with mineral exploration and development.
Osisko Gold Royalties - Q4 and Year 2020 ResultsKevin Connan
This document provides an overview of Osisko Gold Royalties Ltd's fourth quarter and full year 2020 results, announced on February 25, 2021. It includes forward-looking statements regarding Osisko's expected growth, performance, projects and opportunities. However, it notes that actual results may differ from expectations due to risks and uncertainties in the business. The document also contains standard cautions regarding the use of mineral resource and reserve estimates.
Osisko Gold Royalties is a growth-oriented royalty company that expects to grow its gold equivalent ounce production from 80k oz in 2018 to over 150k oz within the next 5 years, which would represent leading and unparalleled growth in the sector. As a royalty company, Osisko has among the highest margins in the metals and mining sector at over 87% cash margins. The document contains forward-looking statements and cautions readers that actual results may differ materially from expectations.
Osisko Gold Royalties Ltd is a leading growth-oriented royalty company focused on the mining sector. It owns a portfolio of over 130 royalties, streams, and offtakes. Recent acquisitions have significantly grown its portfolio of cash flowing assets located in top mining jurisdictions. Osisko has an experienced management team and a track record of over $9 billion in value creation. It is uniquely positioned for continued growth through organic expansion of its existing assets and new acquisitions.
- The document discusses Gold Terra Resource Corp.'s Yellowknife City Gold Project in the Northwest Territories of Canada, which covers a district-scale land package near the city of Yellowknife with potential for multi-million ounces of gold.
- In November 2019, an initial mineral resource estimate for the project outlined 735,000 ounces of inferred resources at two main deposits.
- The project has excellent exploration potential along 65km of the underexplored Campbell shear structure that hosted the past-producing high-grade Con and Giant mines, and drilling is ongoing to expand known deposits and test other targets.
- The document discusses Gold Terra Resource Corp.'s Yellowknife City Gold Project in the Northwest Territories of Canada, which covers a district-scale land package near the city of Yellowknife with potential for multi-million ounces of gold.
- In November 2019, an initial mineral resource estimate for the project outlined 735,000 ounces of inferred resources at two main deposits.
- The project has excellent exploration potential along strike and at depth at known deposits like Sam Otto and Crestaurum, as well as at other targets along the 65km mineralized trend that remains largely untested. Drilling in 2020 aims to expand resources and test new targets.
1) Osisko Gold Royalties Ltd is the world's premier growth-oriented royalty company, focused on Canadian assets with over 130 royalties, streams, and offtakes.
2) The company has a unique strategy of investing in projects throughout the development cycle from early exploration to production to create value.
3) Osisko has prime royalty real estate in major Canadian gold camps with over 25,000 km2 of land and historic production of over 250 million ounces of gold.
Osisko Gold Royalties is a growth-oriented royalty company that owns royalties and streams on over 135 properties worldwide. It aims to grow its gold equivalent ounce production from 80k oz in 2018 to over 180k oz within the next 5 years, which would represent leading growth in the sector. Osisko has among the highest margins in the metals and mining industry at over 87% and provides exposure to commodities with favorable long-term fundamentals. The document contains forward-looking statements and cautions readers that actual results may differ due to risks and uncertainties.
- The document presents Gold Terra Resource Corp.'s Yellowknife City Gold Project in the Northwest Territories of Canada, which covers a district-scale land package near the city of Yellowknife.
- The project contains an initial inferred mineral resource of 735,000 ounces of gold at 1.79 g/t as well as multiple high-grade exploration targets along the Campbell Shear zone, including the Crestaurum deposit.
- Gold Terra plans to conduct 10,000 meters of drilling in Q3 2020 focused on expanding and upgrading resources at Crestaurum and testing targets along the northern extension of the Campbell Shear zone, with the goal of delivering an updated resource estimate by the
1. The document presents Gold Terra Resource Corp.'s Yellowknife City Gold Project in the Northwest Territories, Canada.
2. The project covers 790 square kilometers of prospective ground near the city of Yellowknife, with an initial inferred resource of 735,000 ounces of gold.
3. Gold Terra plans to update the resource by year-end through 10,000 meters of drilling targeting high-grade zones at the Crestaurum deposit and along the underexplored Campbell Shear structure.
1. Gold Terra owns a large land package near Yellowknife, NWT with potential for multi-million ounce deposits.
2. An initial inferred mineral resource estimate contains over 735,000 ounces of gold across several deposits.
3. Drilling is planned in Q3 2020 to expand high-grade resources at Crestaurum and test targets along the underexplored Campbell Shear, with the goal of an updated resource estimate by year-end.
The document discusses Gold Terra's Yellowknife City Gold Project in the Northwest Territories of Canada. It summarizes the project's first inferred mineral resource estimate of 735,000 ounces of gold, highlights additional exploration potential along the underexplored Campbell Shear trend, and outlines plans for a 10,000 meter drilling program in Q3 2020 aimed at expanding the high-grade Crestaurum deposit and testing targets along the Campbell Shear, with the goal of an updated resource estimate by year-end.
This document provides an overview of Gold Terra Resource Corp., including:
- Their Yellowknife City Gold Project which covers historic gold mines that produced 14 million ounces of gold.
- Their 2020 achievements including raising capital, optioning claims from Newmont, and drilling programs.
- Their focus on the high-priority Campbell Shear target, an underexplored structure associated with past production of 13 million ounces of gold.
- The company's track record of discovery and development by its experienced management team.
- Their initial November 2019 inferred mineral resource estimate of 735,000 ounces of gold across four deposits within the project area.
Antero Midstream Partners provides midstream services to Antero Resources in the Marcellus and Utica shales, including natural gas gathering and compression. The presentation outlines Antero Midstream's organic growth strategy through expanding its existing midstream infrastructure to support Antero Resources' increasing production. It also notes potential opportunities for Antero Midstream to expand further into other midstream services like fresh water distribution, processing, and pipelines.
This document provides an overview of Gold Terra Corp and its multi-million ounce gold potential in Yellowknife, Northwest Territories, Canada. It contains forward-looking statements regarding planned exploration, development, budgets and timelines. It also cautions readers that mineral resource estimates are not mineral reserves and do not demonstrate economic viability. The technical information was reviewed by Gold Terra's COO, a Qualified Person under NI 43-101.
1) Tidewater and GulfMark are working to evaluate combining office space, IT systems, and operations prior to their planned merger in order to execute on the strengths of the combined company.
2) GulfMark recently received an unsolicited acquisition offer from Harvey Gulf and will now evaluate this offer, though GulfMark continues to recommend its stockholders adopt the Tidewater merger agreement.
3) Tidewater remains committed to the GulfMark combination and will continue pre-merger efforts assuming the merger closes as expected, though the Harvey Gulf offer creates uncertainty in the industry.
CHFC TCF Merger of Equals Investor Presentation (FINAL)JustinHorstman1
The document discusses a proposed merger between Chemical Financial Corporation and TCF Financial Corporation to create a premier Midwest bank. The merger would be a merger of equals with a fixed exchange ratio. The combined company would have $45 billion in assets, $34 billion in loans and leases, and $34 billion in deposits, making it the 10th largest bank in the Midwest region. The merger is expected to accelerate shareholder value creation through significant cost synergies and improved financial metrics. The combination enhances both companies' strategic positions through increased scale and a more diversified business mix.
Whitestone REIT Investor Presentation February 2018whitestonereit1
This document is an investor presentation for Whitestone REIT (WSR). It provides an overview of WSR, including its portfolio of 72 community-centered retail properties totaling 6.6 million square feet in high growth markets. It highlights WSR's strong total shareholder returns that have outperformed peers, solid capital structure, experienced internal management team, and focus on corporate governance and transparency. The presentation is divided into five parts that cover WSR's stock and operating performance, consumer-focused business model and strategy, internal management alignment, board experience and diversity, and governance commitments.
Antero Midstream Partners provides midstream services to Antero Resources in the Marcellus and Utica shale plays, including natural gas gathering and compression. The document outlines Antero Midstream's organic growth strategy through expanding its existing midstream infrastructure to support Antero Resources' increasing production. It also notes potential opportunities for Antero Midstream to expand into additional midstream services such as fresh water distribution, processing, and pipelines.
This document provides an overview of Osisko Gold Royalties Ltd as a world-class growth-oriented royalty company. It discusses Osisko's experienced management team, strong technical team, and history of value creation through its involvement in mining projects over the past 15 years. It also outlines Osisko's high-quality portfolio of royalty and streaming assets that provide cash flow from cornerstone properties in top jurisdictions. Osisko is uniquely positioned for significant growth through its pipeline of additional royalty interests and has an industry-leading forecast for cash flow growth between 2017-2023.
Osisko Gold Royalties is a growth-oriented royalty company that expects to grow its gold equivalent ounce production from 80k oz in 2018 to over 150k oz within the next 5 years. It has a leading and unparalleled growth profile as well as the highest margins in the metals and mining sector. The document contains forward-looking statements regarding Osisko's expectations for future performance.
IntelGenX Investor Presentation June 5, 2017ItelGenx
- IntelGenx Corp. is a drug delivery company focused on oral thin film technologies.
- They have developed a proprietary drug delivery platform called Tri-Layer technology to improve the speed and efficiency of drug absorption through the oral mucosa.
- The presentation provides an overview of IntelGenx's management team, facilities, product pipeline, and financial information to investors considering an investment in the company.
Gold Terra Corp presents on its multi-million ounce gold potential in Yellowknife, Northwest Territories, Canada. The presentation discusses Gold Terra's properties in the Yellowknife gold camp which has produced over 14 million ounces of gold. It provides an overview of the company's drilling results that indicate the potential for a significant gold system. The presentation cautions that any mineral estimates are not mineral reserves or proven resources and do not have demonstrated economic viability at this stage. It notes the inherent risks and uncertainties involved with mineral exploration and development.
Osisko Gold Royalties - Q4 and Year 2020 ResultsKevin Connan
This document provides an overview of Osisko Gold Royalties Ltd's fourth quarter and full year 2020 results, announced on February 25, 2021. It includes forward-looking statements regarding Osisko's expected growth, performance, projects and opportunities. However, it notes that actual results may differ from expectations due to risks and uncertainties in the business. The document also contains standard cautions regarding the use of mineral resource and reserve estimates.
Osisko Gold Royalties is a growth-oriented royalty company that expects to grow its gold equivalent ounce production from 80k oz in 2018 to over 150k oz within the next 5 years, which would represent leading and unparalleled growth in the sector. As a royalty company, Osisko has among the highest margins in the metals and mining sector at over 87% cash margins. The document contains forward-looking statements and cautions readers that actual results may differ materially from expectations.
Osisko Gold Royalties Ltd is a leading growth-oriented royalty company focused on the mining sector. It owns a portfolio of over 130 royalties, streams, and offtakes. Recent acquisitions have significantly grown its portfolio of cash flowing assets located in top mining jurisdictions. Osisko has an experienced management team and a track record of over $9 billion in value creation. It is uniquely positioned for continued growth through organic expansion of its existing assets and new acquisitions.
- The document discusses Gold Terra Resource Corp.'s Yellowknife City Gold Project in the Northwest Territories of Canada, which covers a district-scale land package near the city of Yellowknife with potential for multi-million ounces of gold.
- In November 2019, an initial mineral resource estimate for the project outlined 735,000 ounces of inferred resources at two main deposits.
- The project has excellent exploration potential along 65km of the underexplored Campbell shear structure that hosted the past-producing high-grade Con and Giant mines, and drilling is ongoing to expand known deposits and test other targets.
- The document discusses Gold Terra Resource Corp.'s Yellowknife City Gold Project in the Northwest Territories of Canada, which covers a district-scale land package near the city of Yellowknife with potential for multi-million ounces of gold.
- In November 2019, an initial mineral resource estimate for the project outlined 735,000 ounces of inferred resources at two main deposits.
- The project has excellent exploration potential along strike and at depth at known deposits like Sam Otto and Crestaurum, as well as at other targets along the 65km mineralized trend that remains largely untested. Drilling in 2020 aims to expand resources and test new targets.
1) Osisko Gold Royalties Ltd is the world's premier growth-oriented royalty company, focused on Canadian assets with over 130 royalties, streams, and offtakes.
2) The company has a unique strategy of investing in projects throughout the development cycle from early exploration to production to create value.
3) Osisko has prime royalty real estate in major Canadian gold camps with over 25,000 km2 of land and historic production of over 250 million ounces of gold.
Osisko Gold Royalties is a growth-oriented royalty company that owns royalties and streams on over 135 properties worldwide. It aims to grow its gold equivalent ounce production from 80k oz in 2018 to over 180k oz within the next 5 years, which would represent leading growth in the sector. Osisko has among the highest margins in the metals and mining industry at over 87% and provides exposure to commodities with favorable long-term fundamentals. The document contains forward-looking statements and cautions readers that actual results may differ due to risks and uncertainties.
- The document presents Gold Terra Resource Corp.'s Yellowknife City Gold Project in the Northwest Territories of Canada, which covers a district-scale land package near the city of Yellowknife.
- The project contains an initial inferred mineral resource of 735,000 ounces of gold at 1.79 g/t as well as multiple high-grade exploration targets along the Campbell Shear zone, including the Crestaurum deposit.
- Gold Terra plans to conduct 10,000 meters of drilling in Q3 2020 focused on expanding and upgrading resources at Crestaurum and testing targets along the northern extension of the Campbell Shear zone, with the goal of delivering an updated resource estimate by the
1. The document presents Gold Terra Resource Corp.'s Yellowknife City Gold Project in the Northwest Territories, Canada.
2. The project covers 790 square kilometers of prospective ground near the city of Yellowknife, with an initial inferred resource of 735,000 ounces of gold.
3. Gold Terra plans to update the resource by year-end through 10,000 meters of drilling targeting high-grade zones at the Crestaurum deposit and along the underexplored Campbell Shear structure.
1. Gold Terra owns a large land package near Yellowknife, NWT with potential for multi-million ounce deposits.
2. An initial inferred mineral resource estimate contains over 735,000 ounces of gold across several deposits.
3. Drilling is planned in Q3 2020 to expand high-grade resources at Crestaurum and test targets along the underexplored Campbell Shear, with the goal of an updated resource estimate by year-end.
The document discusses Gold Terra's Yellowknife City Gold Project in the Northwest Territories of Canada. It summarizes the project's first inferred mineral resource estimate of 735,000 ounces of gold, highlights additional exploration potential along the underexplored Campbell Shear trend, and outlines plans for a 10,000 meter drilling program in Q3 2020 aimed at expanding the high-grade Crestaurum deposit and testing targets along the Campbell Shear, with the goal of an updated resource estimate by year-end.
This document provides an overview of Gold Terra Resource Corp., including:
- Their Yellowknife City Gold Project which covers historic gold mines that produced 14 million ounces of gold.
- Their 2020 achievements including raising capital, optioning claims from Newmont, and drilling programs.
- Their focus on the high-priority Campbell Shear target, an underexplored structure associated with past production of 13 million ounces of gold.
- The company's track record of discovery and development by its experienced management team.
- Their initial November 2019 inferred mineral resource estimate of 735,000 ounces of gold across four deposits within the project area.
Antero Midstream Partners provides midstream services to Antero Resources in the Marcellus and Utica shales, including natural gas gathering and compression. The presentation outlines Antero Midstream's organic growth strategy through expanding its existing midstream infrastructure to support Antero Resources' increasing production. It also notes potential opportunities for Antero Midstream to expand further into other midstream services like fresh water distribution, processing, and pipelines.
This document provides an overview of Gold Terra Corp and its multi-million ounce gold potential in Yellowknife, Northwest Territories, Canada. It contains forward-looking statements regarding planned exploration, development, budgets and timelines. It also cautions readers that mineral resource estimates are not mineral reserves and do not demonstrate economic viability. The technical information was reviewed by Gold Terra's COO, a Qualified Person under NI 43-101.
1) Tidewater and GulfMark are working to evaluate combining office space, IT systems, and operations prior to their planned merger in order to execute on the strengths of the combined company.
2) GulfMark recently received an unsolicited acquisition offer from Harvey Gulf and will now evaluate this offer, though GulfMark continues to recommend its stockholders adopt the Tidewater merger agreement.
3) Tidewater remains committed to the GulfMark combination and will continue pre-merger efforts assuming the merger closes as expected, though the Harvey Gulf offer creates uncertainty in the industry.
CHFC TCF Merger of Equals Investor Presentation (FINAL)JustinHorstman1
The document discusses a proposed merger between Chemical Financial Corporation and TCF Financial Corporation to create a premier Midwest bank. The merger would be a merger of equals with a fixed exchange ratio. The combined company would have $45 billion in assets, $34 billion in loans and leases, and $34 billion in deposits, making it the 10th largest bank in the Midwest region. The merger is expected to accelerate shareholder value creation through significant cost synergies and improved financial metrics. The combination enhances both companies' strategic positions through increased scale and a more diversified business mix.
The document discusses a proposed transformational partnership between Chemical Financial Corporation and TCF Financial Corporation to create significant strategic and financial value. The merger would accelerate shareholder value creation through material earnings per share accretion for both companies and a short tangible book value per share earnback period. It would retain each company's deep community ties and customer focus while creating a top 10 regional bank in the Midwest with scale to compete effectively. The combination reflects shared values and a commitment to performance, and would position the combined company for long-term success.
NextEra Energy and Hawaiian Electric Industries to Combine (December 2014)Andrew Gelston
Achieving a More Affordable Clean Energy Future For Hawaii
Hawaiian Electric Industries Announces Plan to Spin off ASB Hawaii into an Independent Publicly Traded Company
December 3, 2014
sand ridge acquisition of bonanza creekSandRidgeIR
SandRidge Energy announced the acquisition of Bonanza Creek Energy. The strategic acquisition adds high-return, repeatable drilling projects in the DJ Basin that will enhance long-term value and cash flow. The combined company will have increased scale with over 54,000 barrels of oil equivalent per day of production, 255 million barrels of oil equivalent of reserves, and expanded drilling inventory across its multi-basin portfolio. The transaction maintains SandRidge's strong balance sheet and liquidity. The acquisition is expected to generate cost synergies and be accretive to cash flow per share.
Little Rock and Atlanta – Nov. 7, 2016 – Windstream Holdings, Inc. (Nasdaq: WIN) (“Windstream”) and EarthLink Holdings Corp. (Nasdaq: ELNK) (“EarthLink”) today announced that their boards of directors have unanimously approved a definitive merger agreement under which Windstream and EarthLink will merge in an all-stock transaction valued at approximately $1.1 billion, including debt.
CVS-Aetna-Investor-Presentation By PrasoonPrasoon Pal
This document provides information about the proposed acquisition of Aetna by CVS Health. It outlines that CVS Health and Aetna will file relevant materials with the SEC regarding the transaction. It urges investors to read these filings carefully. It also notes that CVS Health, Aetna, and their directors may be considered participants in proxy solicitations regarding the proposed acquisition. The document contains cautionary statements about forward-looking statements, noting factors that could cause actual results to differ from projections. It describes the strategic rationale for the combination, including diversified cash flows, an unmatched suite of health care services, improved quality of care through data integration, consumer connectivity, efficiencies and lower costs through an integrated model, and significant projected synerg
CVS Aetna "Revolutionizing Consumer Health Care"TrustRobin
Align incentives and collaborate with providers to:
• Help providers build the health experience of the future
• Integrate data into EMR/provider workflows
• Improve member health
• Deliver a differentiated patient experience
• Improve quality and efficiency
This presentation provides forward-looking statements about WestRock's financial projections including expected revenue growth of over 10% in fiscal year 2018, adjusted EBITDA growth of 25-30% in fiscal year 2018, and adjusted operating cash flow growth of 20-25% in fiscal year 2018. It also provides details about the acquisition of KapStone Paper & Packaging, including expected synergies of $200 million, debt paydown targets, and combined sales following the acquisition. Additional details are provided about quarterly highlights, full year guidance, long term growth targets, synergies from acquisitions, commodity consumption, and mill maintenance schedules. Forward-looking statements are based on beliefs and assumptions but are not guarantees of future performance and actual results
The document provides forward-looking statements and guidance regarding WestRock's financial projections and planned acquisitions. It notes that WestRock expects over 10% revenue growth, 25-30% adjusted EBITDA growth, and 20-25% adjusted operating cash flow growth in fiscal 2018 compared to 2017. It also states that WestRock anticipates generating over $2.9 billion in adjusted segment EBITDA in fiscal 2018 and over $4 billion by fiscal 2022. Additionally, it discusses the expected benefits and synergies of acquiring KapStone Paper and Packaging, including $200 million in cost synergies, and notes the transaction is expected to close in late 2018 or early 2019.
Sysco announced a proposed merger with US Foods to create a world-class foodservice company with combined annual sales of $65 billion. The merger is expected to generate at least $600 million in annual synergies within 3-4 years by leveraging complementary strengths and achieving efficiencies. The transaction is valued at $8.2 billion and will be financed with $3 billion in Sysco equity, $0.5 billion in cash, and the assumption of US Foods' $4.7 billion net debt. The merger is anticipated to be immediately accretive to earnings and generate substantial cash flow and shareholder value over the long term.
- Osisko earned a record 20,990 GEOs in Q4 2017, up 134% from Q4 2016, and record revenues of $32.2 million, up 135% from Q4 2016. However, the company reported a net loss of $64.3 million due to an impairment charge.
- For the full year 2017, Osisko earned a record 58,933 GEOs, up 54% from 2016, with record revenues of $93.8 million, up 50% from 2016. However, the company reported a net loss of $42.5 million.
- In 2018, Osisko acquired a precious metals portfolio from Orion for $1.1 billion, significantly increasing its
This document is an application form from the Office of Thrift Supervision for the conversion of a depository institution to a federal stock or mutual savings association. It provides instructions for completing the application, including submitting a conversion plan, certification that the institution will operate as a federal savings association, certification of federal deposit insurance, and any other information requested. It outlines the requirements and certifications needed from the applicant institution depending on whether it will convert to a stock or mutual charter.
The document discusses a financially attractive transaction between Huntington and TCF that will increase their scale and drive long-term growth. The transaction will create a top 10 U.S. regional bank by building scale through expanding into new markets, resulting in leading market density and distribution. It is a synergistic transaction with significant branch overlap that will produce highly compelling financial results. The combined company will have peer-leading financial performance and be able to accelerate digital investments to enhance client value.
The document provides a "Safe Harbor" statement for forward-looking statements and information regarding the proposed combination of Impax Laboratories, Inc. and Amneal Pharmaceuticals LLC. It summarizes key details of the transaction, including expected synergies of $200 million annually within 3 years of closing. Additional information is provided on the combined company's diversified product portfolio and pipeline, manufacturing capabilities, and growth opportunities through increased scale and synergies.
Osisko reported strong financial and operating results for Q4 2016 and full year 2016. In Q4, Osisko earned 8,964 gold equivalent ounces, revenues of C$13.7 million, and net cash flows of C$12.8 million. For the full year 2016, Osisko earned a record 38,270 gold equivalent ounces, revenues of C$62.7 million, and net cash flows of C$53.4 million. Osisko is forecasting gold equivalent ounce production of 43,300 to 46,100 ounces for 2017. Osisko ended 2016 with C$499.2 million in cash and cash equivalents.
Amneal Pharmaceuticals & Impax to Combine Conference Callimpax-labs
The document discusses a proposed business combination between Impax Laboratories and Amneal Pharmaceuticals to create the 5th largest generics company in the US. The combination would expand their portfolio and pipeline, providing significant financial benefits like annual double-digit revenue and adjusted EBITDA growth over 3 years driven by new product launches. It would also result in $200 million in expected annual synergies within 3 years. The transaction is an all-equity deal that would make Amneal the majority owner initially at 75% before later reducing to around 60% through a private placement. The leadership and board structure of the new combined company is outlined.
HOUSTON, TX and ROSEMONT, IL – December 9, 2013 – Sysco Corporation [NYSE: SYY] and US Foods today announced an agreement to merge, creating a world-class foodservice company. The total enterprise value of the transaction is approximately $8.2 billion and the combination has been approved by the Board of Directors of each company.
Westport & Fuel Systems Solution Merger ProposalWestport
The companies have entered into a merger agreement to create a premier alternative fuel vehicle and engine company. The transaction will result in a combined equity value of $351 million based on the closing trading prices for the shares of both companies on August 31, 2015 and combined annual revenues ranging from $380 to $405 million projected for 2015. The combined company will benefit from complementary product solutions, and a fortified global footprint, with efficient operations and a core focus in developing next generation technology. The merger combines 17 brands in the automotive and industrial space and will allow customers and stakeholders to benefit from the consolidation of technologies, and the expansion of product portfolios, OEM relationships, and global distribution networks. The new entity will conduct business in more than 70 countries, represent a combined 100 years of experience and will trade on both the TSX and Nasdaq under the Westport Fuel Systems name, ticker symbol Nasdaq: WPRT and TSX: WPT, with a new business unit called Fuel Systems Automotive and Industrial Group. The companies' respective boards of directors have unanimously approved this transaction.
The document provides an earnings summary for 1Q 2021. Key points include:
- The company has a strong balance sheet with low leverage of 0.6x net debt to 2021 EBITDAX and projects $3 billion in free cash flow over the next five years.
- In 1Q 2021, the company reported adjusted EBITDAX of $510 million and free cash flow of $329 million.
- The company aims to reinvest 60-70% of capital to produce over 400 MBOE/day annually on $700-750 million in capital expenditures and launch an initial $1.375 per share annual dividend.
- The company has a diversified portfolio across multiple basins including Appal
The document provides an earnings summary for 1Q 2021. Key points include:
- The company has a strong balance sheet with low leverage of 0.6x net debt to EBITDA for 2021 and is focused on generating sustainable free cash flow.
- In 1Q 2021, the company reported $510 million in adjusted EBITDAX and $329 million in free cash flow.
- The company aims to reinvest 60-70% of capital to maintain production of 400+ MBOE/day while returning cash to shareholders through an initial $1.375 per share annual dividend.
- Operating costs were reduced significantly in 1Q 2021 compared to 1Q 2020 through cost restructuring.
The document provides an earnings summary for 1Q 2021. Key points include:
- The company has a strong balance sheet with low leverage of 0.6x net debt to EBITDA for 2021 and is focused on generating sustainable free cash flow.
- In 1Q 2021, the company reported $510 million in adjusted EBITDAX and $329 million in free cash flow.
- The company aims to reinvest 60-70% of capital to maintain production of over 400 MBOE/day on $700-750 million in annual capital expenditures.
- The portfolio includes high-quality assets in Appalachia, the Gulf Coast, and South Texas that provide diversification and opportunity for continued development
Chesapeake Energy is focused on generating sustainable free cash flow through disciplined capital reinvestment and cost reductions. It has a diverse portfolio of natural gas and oil assets across multiple basins in the U.S. and is committed to industry-leading ESG performance including achieving net-zero direct greenhouse gas emissions by 2035. Through restructuring, Chesapeake has significantly improved its balance sheet, reducing debt and gaining flexibility. It has also renegotiated midstream contracts to lower annual costs by over $2 billion on a present value basis including an estimated $281 million reduction in 2021.
Chesapeake Energy is focused on generating sustainable free cash flow from a diverse, low-cost asset base while maintaining a strong balance sheet and leading ESG performance. The company plans to reinvest 60-70% of capital to produce over 400 MBoe/d and $2B in free cash flow over five years. Chesapeake also aims to achieve net-zero direct GHG emissions by 2035 by eliminating routine flaring and reducing methane and GHG intensities. This disciplined strategy targets a 30-40% free cash flow yield and debt leverage below 1x to enhance shareholder returns.
Chesapeake Energy is focused on generating sustainable free cash flow from a diverse, low-cost asset base while maintaining a strong balance sheet and leading ESG performance. The company plans to reinvest 60-70% of capital to produce over 400 MBoe/d and $2B in free cash flow over five years. Chesapeake also aims to achieve net-zero direct GHG emissions by 2035 by eliminating routine flaring and reducing methane and GHG intensities. This disciplined strategy targets a leverage ratio under 1x and 30-40% of EBITDAX as sustainable free cash flow yield.
Chesapeake Energy is committed to generating sustainable free cash flow from a strong balance sheet and diverse low-cost asset base, while achieving top ESG performance. The company aims to preserve its balance sheet strength with less than 1x long-term leverage. It expects to reinvest 60-70% of annual capital expenditures of $700-750 million to produce over 400 thousand barrels of oil equivalent per day and achieve a 30-40% free cash flow yield. Chesapeake also targets net zero direct greenhouse gas emissions by 2035 by eliminating routine flaring and reducing methane and GHG intensities to lead the industry in ESG excellence and safety.
Chesapeake Energy has achieved several milestones in its Chapter 11 bankruptcy process and is on track to emerge from bankruptcy in February 2021 with a significantly deleveraged balance sheet. Upon emergence, Chesapeake will have a diverse, low-cost asset base, strong liquidity, and a disciplined capital allocation plan focused on generating sustainable free cash flow. Chesapeake has also negotiated over $4 billion in savings to its marketing contracts which will enhance its cash flows going forward.
Chesapeake Energy reported earnings for the fourth quarter of 2019. The presentation includes forward-looking statements and discusses key risks and uncertainties. It outlines Chesapeake's business strategy of financial discipline, profitable growth, and exploration. Key 2019 accomplishments included reducing capex by 30% year-over-year, reducing costs, growing oil production by 30%, and increasing adjusted EBITDAX. Priorities for 2020 include further reducing costs and targeting free cash flow. The presentation provides details on Chesapeake's asset portfolio and 2020 plans across its core regions.
Chesapeake Energy reported 3Q 2019 earnings. The presentation discusses the company's financial discipline and profitable growth strategy focused on capturing resources. Key highlights included establishing an oil production record in the Brazos Valley, improving well economics in the Powder River Basin, and the Marcellus asset generating an estimated $300 million in free cash flow. Chesapeake also summarized recent drilling results and operational improvements across its assets.
- Chesapeake Energy reported 2Q 2019 earnings and provided an operational and financial update.
- The company is executing on its strategy of financial discipline, profitable growth from captured resources, and exploration through focused investment in highest margin opportunities.
- Chesapeake has significantly improved its debt maturity outlook through refinancing activities and aims to achieve a net debt to EBITDAX ratio of 2x.
- The company is committed to safety, environmental stewardship, and reducing its environmental footprint through initiatives like its enhanced leak detection and repair program.
The document provides an update on Chesapeake Energy Corporation for June 2019. It discusses forward-looking statements and risk factors that could impact actual results. The business strategy remains focused on financial discipline, profitable growth from captured resources, exploration and business development. Strategic goals include margin enhancement, free cash flow generation, and reducing net debt. In the first quarter of 2019, adjusted oil production increased 13% year-over-year while cash costs declined 14% resulting in the highest EBITDAX margin in four years. Brazos Valley is projected to be cash flow positive at the asset level in 2019.
The document is the 2019 Annual Meeting of Shareholders presentation. It summarizes Chesapeake Energy's business strategy, near-term priorities, and key performance metrics. The strategy is to focus on financial discipline, profitable and efficient growth from captured resources, exploration, business development, and margin enhancement to generate free cash flow and reduce net debt. Metrics shown include reductions in leverage, increases in adjusted EBITDAX and margins, improvements in production and overhead costs, and highlights of core asset positions and recent record well results.
Chesapeake Energy reported its 1Q 2019 earnings. It highlighted operational and financial strategies to enhance margins and generate free cash flow through profitable and efficient growth from captured resources. Key highlights included a 13% year-over-year increase in adjusted oil production, $15.50/boe EBITDAX margin which was the highest in four years, and the Brazos Valley asset projected to be cash flow positive at the asset level in 2019. Chesapeake is focusing investments in its highest-margin oil-growth assets and cash-generating gas assets to deliver transformational oil growth and improved cash flow.
This document summarizes the effects of converting from the full cost accounting method to the successful efforts method. Some key points include:
- Exploration costs, impairments of unproved properties, geological and geophysical costs, and unsuccessful exploration wells will be expensed under successful efforts instead of capitalized. This results in a $12.4 billion decrease to retained earnings.
- Depletion and impairment expenses will generally be lower under successful efforts, resulting in a $10.8 billion increase to retained earnings. However, significant impairments could occur under successful efforts from writing down full cost capitalized amounts.
- Gains of $5 billion will be recognized from asset sales under successful efforts instead of the losses recognized under full
This document provides an earnings summary and overview of Chesapeake Energy Corporation's business strategies and accomplishments in 4Q 2018. It discusses the company's focus on financial discipline, profitable growth from captured resources, exploration, and business development. The company achieved margin enhancement in 2018 by generating its highest margins since 2014, optimizing its portfolio, and growing oil production. It also accelerated its transition to positive free cash flow. Chesapeake further reduced its long-term net debt to EBITDA ratio and maintained industry-leading safety performance. The document outlines the company's highest margin asset positions and investment plans across its diverse portfolio of basins for 2019.
The document provides an update on Chesapeake Energy's business strategies and operations for September 2018. It discusses restoring the company's balance sheet through applying $1.9 billion in proceeds from an asset sale to debt reduction. It highlights the company's diverse portfolio across five basins and focuses on growth in the Powder River Basin, where production is ramping ahead of schedule led by the Turner opportunity. The company is improving drilling efficiencies to enhance returns in the Powder River Basin.
The document provides an August 2018 update on Chesapeake Energy Corporation's business strategies and operations. It discusses plans to use proceeds from an asset sale to reduce debt, goals of achieving a net debt to EBITDA ratio of 2x and free cash flow neutrality. Production from the Powder River Basin is growing rapidly and is expected to increase 90% in 2018 and 100% in 2019, driven largely by oil growth from the Turner area where 18 wells are currently producing. Drilling and completion costs in the Turner area have improved. The company has a diverse portfolio across five basins with an inventory of potential locations.
The document provides an overview of Chesapeake Energy's Utica Shale divestiture and an update on its Powder River Basin operations. Key points include:
- Chesapeake sold its Utica Shale assets for $2 billion in net proceeds, reducing its debt and focusing on its highest return Powder River Basin assets.
- The sale included over 300,000 net acres and 107,000 boe/d of net production in Ohio's Utica Shale, transferring future midstream commitments.
- In the Powder River Basin, production is growing rapidly through development in the Turner area, with over 90% oil growth year-to-date and 100% expected growth in
The document summarizes the 2018 annual meeting of Chesapeake Energy Corporation shareholders. It discusses Chesapeake's strategic goals of reducing debt by $2-3 billion to ultimately reach a net debt to EBITDA ratio of 2x, achieving free cash flow neutrality, enhancing margins through efficiency gains, and growing oil production while maintaining low costs. Chesapeake has transformed its business by reducing leverage, improving capital efficiency and environmental performance, and is on track to achieve free cash flow neutrality through continued financial discipline and high-returning projects from its portfolio of assets.
2. FORWARD-LOOKING STATEMENT
Cautionary Statement Regarding Forward-Looking Information
This communication may contain certain forward-looking statements, including certain plans, expectations, goals, projections, and statements about the benefits of the proposed transaction, WildHorse’s and
Chesapeake’s plans, objectives, expectations and intentions, the expected timing of completion of the transaction, and other statements that are not historical facts. Such statements are subject to numerous
assumptions, risks, and uncertainties. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements
may be identified by words such as expect, anticipate, believe, intend, estimate, plan, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar
variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private
Securities Litigation Reform Act of 1995.
While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the
forward-looking statements: the possibility that the proposed transaction does not close when expected or at all because required regulatory, shareholder or other approvals are not received or other conditions to
the closing are not satisfied on a timely basis or at all; the risk that regulatory approvals required for the proposed merger are not obtained or are obtained subject to conditions that are not anticipated; potential
adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; uncertainties as to the timing of the transaction; competitive
responses to the transaction; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of
the two companies; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing
business operations and opportunities; the ability of Chesapeake to complete the acquisition and integration of WildHorse successfully; litigation relating to the transaction; and other factors that may affect future
results of WildHorse and Chesapeake.
Additional factors that could cause results to differ materially from those described above can be found in WildHorse’s Annual Report on Form 10-K for the year ended December 31, 2017 and in its subsequent
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2018, June 30, 2018, and September 30, 2018, each of which is on file with the SEC and available in the “Investor Relations” section of
WildHorse’s website, http://www.wildhorserd.com/, under the subsection “SEC Filings” and in other documents WildHorse files with the SEC, and in Chesapeake’s Annual Report on Form 10-K for the year ended
December 31, 2017 and in its subsequent Quarterly Reports on Form 10-Q for the quarters ended March 31, 2018, June 30, 2018 and September 30, 2018 each of which is on file with the SEC and available in the
“Investors” section of Chesapeake’s website, https://www.chk.com/, under the heading “SEC Filings” and in other documents Chesapeake files with the SEC.
All forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither WildHorse nor Chesapeake assumes any obligation to update forward-looking
statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws.
As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
We use certain terms in this presentation such as “Resource Potential,” “Net Resource,” “Net Reserves” and similar terms that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. These
terms include reserves with substantially less certainty, and no discount or other adjustment is included in the presentation of such reserve numbers. U.S. investors are urged to consider closely the disclosure in
our Form 10-K for the year ended December 31, 2017, File No. 1-13726 and in our other filings with the SEC, available from us at 6100 North Western Avenue, Oklahoma City, Oklahoma 73118. These forms can
also be obtained from the SEC by calling 1-800-SEC-0330.
Important Additional Information
This communication relates to a proposed business combination transaction (the “Transaction”) between WildHorse Resource Development Corporation (“WildHorse”) and Chesapeake Energy Corporation
(“Chesapeake”). This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, in any
jurisdiction, pursuant to the Transaction or otherwise, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this document in any jurisdiction in contravention of applicable law.
In connection with the Transaction, Chesapeake will file with the SEC a registration statement on Form S-4 that will include a joint proxy statement of Chesapeake and WildHorse and a prospectus of Chesapeake,
as well as other relevant documents concerning the Transaction. The Transaction involving WildHorse and Chesapeake will be submitted to WildHorse’s stockholders and Chesapeake’s shareholders for their
consideration. STOCKHOLDERS OF WILDHORSE AND SHAREHOLDERS OF CHESAPEAKE ARE URGED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/
PROSPECTUS REGARDING THE TRANSACTION WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR
SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors will be able to obtain a free copy of the registration statement and the joint proxy
statement/prospectus, as well as other filings containing information about WildHorse and Chesapeake, without charge, at the SEC’s website (http://www.sec.gov). Copies of the documents filed with the SEC can
also be obtained, without charge, by directing a request to Investor Relations, WildHorse, P.O. Box 79588, Houston, Texas 77279, Tel. No. (713) 255-9327 or to Investor Relations, Chesapeake, 6100 North
Western Avenue, Oklahoma City, Oklahoma, 73118, Tel. No. (405) 848-8000.
Participants in the Solicitation
WildHorse, Chesapeake and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the Transaction. Information regarding
WildHorse’s directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on April 2, 2018, and certain of its Current Reports on Form 8-K. Information regarding
Chesapeake’s directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on April 6, 2018, and certain of its Current Reports on Form 8-K. Other information regarding
the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials
filed with the SEC. Free copies of this document may be obtained as described in the preceding paragraph.
November 2018 Update 2
3. WILDHORSE ACQUISITION ACCELERATES
CHESAPEAKE’S STRATEGIC PLAN
Acquisition of WildHorse
Margin Enhancement Increases margins from high-value oil production
Free Cash Flow Accelerates transition to positive free cash flow
Long Term Net Debt /
EBITDA of 2x
Accelerates deleveraging
Chesapeake’s continued commitment
EHS Excellence Improving environmental and safety performance
November 2018 Update 3
4. TRANSACTION OVERVIEW
Consideration
> $3.977 billion transaction value
• At the election of WildHorse shareholders, 5.989 shares of Chesapeake common
stock per WildHorse share of common stock or 5.336 shares of Chesapeake common
stock plus $3.00 per WildHorse share of common stock
• Total cash consideration expected to be between $275 – $400 million
Pro Forma
Ownership and
Governance
> Chesapeake’s shareholders will own approximately 55% and WildHorse shareholders
will own approximately 45% of the combined company
> WildHorse will nominate two directors to the Chesapeake Board of Directors
Path to Close
> Approval by both Chesapeake and WildHorse shareholders
> NGP Energy Capital Management, Carlyle and WRD CEO have entered into a voting
and support agreement with respect to the transaction
> Customary regulatory approvals
November 2018 Update 4
5. WildHorse Resource Development Corporation
Net acres (84% WI / 66% NRI)(1)
~420,000
Percentage undeveloped acreage 80% – 85%
Net production 47 mboe/d(2)
Liquids / Oil 88% / 73%
~655,000
Pro forma Eagle Ford net acreage position
~150,000 boe/d (~60% Oil)
2Q’18 Pro forma Eagle Ford production
STRATEGIC PORTFOLIO ADDITION
POSITIONS CHK FOR ADDITIONAL VALUE CREATION
Adds significant premier Eagle Ford
asset at an attractive valuation
Accelerates cash flow generation
with profitable oil growth
Materially improves margins and
financial profile
(1) Estimated average interest of future operated locations
(2) 2Q’18 Actuals
WRD data reflects CHK’s analysis based solely on public information.
November 2018 Update 5
ACREAGE POSITION
WildHorse Leasehold
CHK Leasehold
ASSETOVERVIEW
6. ACCELERATING VALUE,
DELIVERING ON OUR PROMISES(1)
(1) Assumes full year results and strip pricing as of 10/25/2018
(2) Adjusted for Utica disposition as of 1/1/2018
WRD data reflects CHK’s analysis based solely on public information.
November 2018 Update 6
19
25
30
CHK18E PF19E PF20E
$12
$16
$19
CHK18E PF19E PF20E
%oilNetdebt/adj.EBITDA
$/boebbls/d
Efficiencies drive
average annual
savings
$200 – $280 million
total of $1.0 – $1.5 billion by 2023
2xby 2020
Enhances
oil production approximately
80
130
165
CHK18E PF19E PF20E
Improves
oil mix percentage
approximately
60%by 2020
35%by 2020
Accelerates
deleveraging approximately
4.2x
3.6x
2.8x
CHK18E PF19E PF20E
50%by 2020
Increases
EBITDA per boe margin
approximately
(2)
125 – 130
160 – 170
7. COST SAVINGS CREATE SIGNIFICANT
SHAREHOLDER VALUE
ANNUAL SAVINGS
Operational Efficiencies $50 – $80 million
Capital Efficiencies $150 – $200 million
Total $200 – $280 million
(1) Realized post closing
WRD data reflects CHK’s analysis based solely on public information.
November 2018 Update 7
Operational efficiencies include savings from reduced LOE, G&A and downtime
Capital efficiencies include savings from longer laterals and improved well design
Five Year Total Savings(1)
$1.0 – $1.5 billion$1.0 – 1.5 billion
8. OPPORTUNITIES TO CAPTURE
ADDITIONAL MARKETING SYNERGIES
Significant synergies available by leveraging
Chesapeake’s existing crude transportation options
Large, contiguous Eagle Ford oil position
• Abundant pipeline capacity and infrastructure
• Advantaged pricing due to proximity
to Gulf Coast and export markets
Corpus Christi Terminal
Houston Markets
Gardendale Terminal
Cooks Point Terminal
WildHorse Leasehold
CHK Leasehold
Pipeline
2019 WTI +$5.50
2019 WTI +$5.50
WRD data reflects CHK’s analysis based solely on public information.
November 2018 Update 8
9. CREATING AN EAGLE FORD POWERHOUSE
November 2018 Update 9
Well understood geology similar to existing CHK position
High on the learning curve
• Learnings from more than 2,000 Eagle Ford wells directly
transferable to large undeveloped WildHorse position
Austin Chalk and improved oil recovery (IOR) offer
tangible upside
NESW
East Texas BasinSan Marcos ArchSouth Texas BasinMaverick Basin
100ʹ – 500ʹ thickness
6,000ʹ – 11,000ʹ TVD
Austin Chalk
Buda
Eagle Ford
150ʹ – 450ʹ thickness
6,000ʹ – 11,000ʹ TVD
Woodbine Sands
Karnes Trough
A BChesapeake
Eagle Ford
WildHorse
Eagle Ford
Buda
WRD data reflects CHK’s analysis based solely on public information.
A
BWildHorse Leasehold
CHK Leasehold
Eagle Ford Play
ACREAGE POSITION
10. THE CHESAPEAKE ADVANTAGE
Operations Support Center
Reservoir Technology Center
Drilling and completion leadership
• >2,000 Eagle Ford wells to date
Logistics expertise
Proven operational performance
EHS excellence
In-house marketing team
(1) Source: RS Energy Group 2017+ TIL as of 9/2018; Peers include: Carrizo, ConocoPhillips, Devon, Encana, Enervest, EOG, EP Energy,
Equinor, Lewis Energy Group, Marathon, Murphy, Sanchez, SM Energy; WRD wells could contain science and evaluation capital.
WRD data reflects CHK’s analysis based solely on public information.
10November 2018 Update 10
Proven expertise helps
drive costs down 0
200
400
600
800
1,000
1,200
1,400
1,600
Eagle Ford D&C $ / Lateral Foot
(1)
0
2,000
4,000
6,000
8,000
10,000
12,000
Eagle Ford Lateral Length (mean)
(1)
11. CHK TODAY: DIVERSE & STRONG PORTFOLIO
CORE POSITIONS ACROSS MULTIPLE BASINS
(1) Free cash flow defined as net revenue less all operating costs and capital expenditures.
Excludes corporate overhead costs such as capitalized interest and capitalized G&A expenses.
WRD data reflects CHK’s analysis based solely on public information.
Mid-Continent: Growth Optionality
Efficient oil volumes, appraising liquid-rich opportunities
Gulf Coast: Consistent Performance
Access to premium Gulf Coast markets
Marcellus: Leading the Industry
Generating ~$350 million in free cash flow(1)
in 2018
Powder River Basin: Oil-growth Engine
Oil production will more than double in 2019
South Texas: Free Cash Flow Machine
Generating ~$560 million in free cash flow(1)
in 2018
November 2018 Update 11
12. ACQUISITION CREATES PREMIER
DIVERSIFIED INDEPENDENT
WITH SIGNIFICANT HIGH-MARGIN OIL-GROWTH RUNWAY
(1) Unless otherwise noted, operational statistics are as of 9/30/2018 for acreage totals and total production as of 3Q’18. Acreage and production volumes are net to CHK.
(2) Actual production for 2Q’18
WRD data reflects CHK’s analysis based solely on public information.
High-margin Oil-growth Assets(1)
Powder River Basin ~253,000 Acres 29 mboe/d
CHK Eagle Ford ~235,000 Acres 100 mboe/d
WRD Eagle Ford ~420,000 Acres 47 mboe/d
(2)
Cash-generating Gas Assets(1)
Gulf Coast ~339,000 Acres 128 mboe/d
Appalachia North ~547,000 Acres 135 mboe/d
Growth Optionality
(1)
Mid-Continent ~775,000 Acres 25 mboe/d
Exploration/Other ~1,521,000 Acres N/A
Targeting 80%+
of future drilling and completion
activity focused on high-margin
oil-growth assets
WildHorse Addition
Premier high-margin oil-growth engine
November 2018 Update 12
13. ACCELERATES CHK’S STRATEGIC
AND FINANCIAL PLAN
Materially improves margins
and financial profile
Adds significant premier Eagle Ford
asset at attractive valuation
Increases cash flow generation
with profitable oil growth
Positions Chesapeake for
greater value creation
November 2018 Update 13
15. T e c h n o l o g y e v o l v e s
EASTERN EAGLE FORD EVALUATION
INITIATED IN 2012
Chesapeake valuation of Eastern Eagle Ford based on
bottoms-up internal regional knowledge and expertise
November 2018 Update 15
2012 – 2017:
CHK Woodbine team evaluates emerging Eastern Eagle Ford play
• Play level subsurface evaluation and detailed reservoir mapping to determine
main controls on production
• Identified high-potential area in and around Burleson County
1Q’18:
Updated evaluation
with additional well
performance and detailed
reservoir mapping
1Q’18:
First WRD/CHK
discussions
1H’17:
Regional assessment highgrades
WRD position in the play
• Subsurface evaluation with proprietary and public data
• Well level economic assessment
• Management review May 2017
20182012 2017
16. CHESAPEAKE’S EVALUATION FOUNDATION
November 2018 Update 16
(1) WRD 2Q’18 earnings deck
WRD data reflects CHK’s analysis based solely on public information.
Extensive review of WRD’s
Eagle Ford position conducted
prior to receipt of proprietary data
Existing subsurface and commercial
evaluations initiated in 2012
~1,200 wells with logs
• Equivalent to ~2 wells/mi2
~300 producing horizontals
• ~145 with Gen 3 completions(1)
10 wells with core data
• Analyses available through
commercial labs
20 miles
Dense log
coverage
WildHorse
acreage
3D seismic
footprint
Eagle Ford Producing Well
Eagle Ford Core On/Near Acreage
Additional Eagle Ford Core
Eagle Ford Penetration with Logs
Eastern Eagle Ford Data Map
17. Eastern Eagle Ford Reservoir Thin Section(1)
organic-rich calcareous mudstone
0.5 mm
THE WILDHORSE ROCK ADVANTAGE
WELL CONSTRAINED RESERVOIR CHARACTERISTICS
Organic-rich calcareous mudstone
• Outer shelf depositional setting
• Similar to South Texas Eagle Ford
6,000 – 11,000' TVD
100 – 500' gross interval thickness
~4% average TOC
4 – 6% effective porosity
(log analysis)
Over-pressured, up to 0.7 psi/ft
(1) CoreLab Eagle Ford Shale Study
WRD data reflects CHK’s analysis based solely on public information.
Lab Lab A RTC (CHK) Lab A Lab B
Area STX EGFD STX EGFD Eastern EGFD Eastern EGFD
Avg. Porosity 8.0% 5.0% 9.0% 4.5%
November 2018 Update 17
Eastern Eagle Ford Type Log
Top Austin
Chalk
Top Buda
WildHorsepay
CHKminimumpay
CHKstimulatedrockvolume
Gamma ray Resistivity
Core porosity measurement varies between labs
18. THE WILDHORSE LOCATION ADVANTAGE
POSITIONED IN THE CORE OF THE PLAY
Controlling the sweet spot
• Optimal thickness, organic content, maturity and clay content
November 2018 Update 18
WRD data reflects CHK’s analysis based solely on public information.
A
Thin
Austin Chalk
Buda
Eagle Ford
Highest-quality rock
Regional Stratigraphic Cross-Section
WildHorse Acreage
Gamma ray Resistivity
A’
Higher clay
Lower TOC
100'
WildHorse acreage
A’
A
Gross thickness
c.i. = 100'
20 miles
Eastern Eagle Ford
Shale Gross Thickness
19. THE WILDHORSE RESERVOIR ADVANTAGE
SIGNIFICANT OIL WINDOW EXPOSURE
Overlying Austin Chalk GOR aligns with Eagle Ford maturity trends
Validated with Eagle Ford production data
November 2018 Update 19
(1) Data from IHS Markit
WRD data reflects CHK’s analysis based solely on public information.
Black Oil
Volatile Oil
Condensate to Wet Gas
WildHorse acreage
Interpreted Eastern Eagle Ford Fluid Windows
WildHorse acreageWildHorse acreage
Austin Chalk
6-month GOR
<2,000 scf/bbl
2,001 – 3,300 scf/bbl
3,301 – 50,000 scf/bbl
50,001 – 100,000 scf/bbl
>100,001 scf/bbl
EGFD Maturity
c.i. = 0.1%Ro
Eastern Eagle Ford Maturity and Austin Chalk GOR(1)
20. SUBSURFACE CONFIDENCE,
REDUCING UNCERTAINTY
Extensive knowledge
Deep regional knowledge of Eastern Eagle Ford
Well defined, low-risk subsurface elements
Production aligns with mapped subsurface properties
Oil window well constrained by existing production
and maturity trends
Attacking uncertainties
Core analysis
• Refine in-place volumes
• In-house rock mechanics expertise to optimize
completion design
PVT analysis
• Fluid properties to optimize spacing and draw down
3D seismic reprocessing
• Optimize well planning and geosteering
• Build earth and reservoir simulation model
November 2018 Update 20
(1) Pricing of $60/bbl and $2.75/mcf, assumes 10,000' lateral
WRD data reflects CHK’s analysis based solely on public information.
WildHorse Leasehold
CHK Leasehold
CHK Drilled Wells
(1992 – 2011)
History of Eastern Eagle Ford Activity
PRELIMINARY ASSESSMENT(1)
Currently 90%
of WRD acreage economic
with longer laterals
~$35 – $45/bbl
Breakeven
21. ~$1,250(1)
~$1,050(2)
~$850(2)
Current 6,500' Cost Design Improvements Extended Laterals
Cost/ft($/ft)
D&C Cost Per Lateral Foot
CHK’S D&C PERFORMANCE ADVANTAGE
Operations Support Center provides 24/7
drilling support
• Continuous monitoring of drilling performance
• Improved geosteering = higher percentage in zone
• Drilling parameter optimization
Updated well design
• Improved hole cleaning
• Increased ROP
• Eliminate sidetracks
Improve completions performance by
two stages/day
• Optimize pump schedule, apply best practices
$600 – 900M per well in sand savings
• On 10,000' laterals with in-field sand mine
(1) RS Energy estimate for 2017+ TILs, could contain science and evaluation capital
(2) Internal estimates
WRD data reflects CHK’s analysis based solely on public information.
21November 2018 Update
~30%
reduction
22. 2018E 2019E 2020E 2021E
TIL Year
WildHorse
PROVEN TRACK RECORD
WRD data reflects CHK’s analysis based solely on public information.
2014 2015 2016 2017
D&CCost/ft($/ft)
TIL Year
Eagle Ford
2014 2015 2016 2017
TIL Year
Appalachia South
2014 2015 2016 2017
TIL Year
Appalachia North
41%
reduction
Demonstrated efficiency gains in all operating
areas driven by:
• CHK’s technical and operational advantage
• Longer laterals and enhanced completions
36%
reduction
21%
reduction
D&CCost/ft($/ft)
November 2018 Update 22
~30%
expected
reduction
23. EXTENDED LATERALS DRIVE VALUE
Opportunity to increase NPV with extended laterals
• Largely undeveloped, contiguous position
Unparalleled extended lateral experience
• Proven performance across all assets
Estimated 30 – 100% improvement in NPV per foot
November 2018 Update 23
Potential CHK
Extended Laterals
Existing WRD
Short Laterals
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000
TotalDrillingCost,Mean($mm)
Lateral Length (ft.)
4,000' longer
than peer group
Eagle Ford Drilling Performance(1)
WildHorse
Chesapeake
8,500'
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
EAGLE FORD GULF COAST APPALACHIA
SOUTH
MID-CONTINENT APPALACHIA
NORTH
POWDER RIVER Wildhorse Average
LateralLength(ft.)
Eagle
Ford
Gulf
Coast
App
South
Mid-Con App
North
WildHorsePowder
River Basin
CHK Longest Lateral by Asset
20,000
15,000
10,000
5,000
0
(1) RS Energy – Peers include COP, CRZO, DVN, ECA, Enervest, EOG, EPE, EQNR, Lewis, MRO, MUR, NBL, SM, SN, WRD; Represents TILs from 2017 to present, size by number of wells.
WRD data reflects CHK’s analysis based solely on public information.
24. TIL Year TIL Year
WRD Oil IP90 Performance(1)
(All Wells)
SUBOPTIMAL SPACING DEGRADES
2018 WILDHORSE WELL PERFORMANCE
Nearly half of 2018 WRD TILs are
Austin Chalk or downspaced Eagle Ford
• Versus ~20% in 2017
2018 WRD Eagle Ford performance
continues to deliver at 750'+ spacing
November 2018 Update 24
(1) RS Energy (Oil IP90)
WRD data reflects CHK’s analysis based solely on public information.
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2017 2018
WRD TIL Composition
Austin Chalk Downspaced Eagle Ford 750'+ Eagle Ford
100%
80%
60%
40%
20%
0%
60
50
40
30
20
10
0
OilIP90(mbo)
60
50
40
30
20
10
0
OilIP90(mbo)
No
Degradation
Completion
Evolution
Degradation
WRD Oil IP90 Performance(1)
(excludes Austin Chalk and Downspacing)
25. 0 5 10 15
CumulativeOil(mbo)
Producing Months
Well Spacing Comparison(1)
375' Spacing 750' Spacing Unbounded
180
160
140
120
100
80
60
40
20
0
OPTIMIZING WELL SPACING
CHK model spacing assumption currently
1,000' and 10,000' lateral length
• 750' spacing probable over most fluid windows
• 500' spacing potential with additional evaluation
Improved wellbore management
• Geosteering in-zone and in-plain
November 2018 Update 25
(1) RS Energy (production data)
WRD data reflects CHK’s analysis based solely on public information.
750' Spacing
375' Spacing
Unbounded
Burleson County Example
26. ~5.0%
~5.5%
~3.5%
2017 2018 CHK Projected Downtime
Downtime(%)
WRD Downtime
REDUCING DOWNTIME,
IMPROVING BASE PRODUCTION
Opportunity to reduce downtime
• Operate by intention
• WellTender mobile app
Improved artificial lift designs reduce base
production decline rates
• Leverage expertise from 2,000+ Eagle Ford
wells across all fluid windows
November 2018 Update 26
~35% downtime reduction
since 2015 in CHK STX Eagle Ford
27. CHESAPEAKE’S VALUE OPPORTUNITY
November 2018 Update 27
WRD data reflects CHK’s analysis based solely on public information.
Technical and Operational Excellence
Drives Value
Improved
Recovery
Capital
Efficiency
NAV
Impact
Drilling and Completions Optimization
• Reduced costs through improved performance
and execution
Extended Laterals
• Develop resource with fewer wells
• Substantial reduction in cost per foot
Base Management
• Reducing downtime
• Artificial lift design improvements
Subsurface Optimization
• Maximize NPV per acre with improved well spacing
Future Opportunity
• Austin Chalk, IOR and optimized development
28. CHK’S CURRENT WRD EAGLE FORD
ASSUMPTIONS
Base spacing assumption 1,000' at 10,000'
lateral length
• 750' spacing probable over most fluid windows
• 500' spacing potential with additional understanding
Additional upside in Austin Chalk: 150 – 200 locations
• Condensate play in Washington County and oil matrix play
in various areas of acreage
Line of sight on improved economics and well performance
• 30% expected reduction in well cost per lateral foot
• Increased % in-zone with improved geosteering
$1.2B of NPV on PDP to be optimized
• Downtime management
• Production optimization
November 2018 Update 28
(1) Strip pricing as of 10/25/2018
(2) Type curve represents five-year drilling plan
(3) Forecasted production mix for new wells over the next five years
WRD data reflects CHK’s analysis based solely on public information.
CHK’s WRD Eagle Ford Model Assumptions
Avg. Lateral Length ~10,000'
Locations 1,000 – 1,400
WI / NRI ~84 / 66%
EUR 600 – 700 mboe
Well Costs $7.5 – $8.5mm
NPV per well(1)
$5 – $7mm
Production Mix(3)
Natural
Gas
6%85%
Oil
9%
NGL
~1,200 – 1,600+
Estimated future locations
0
200
400
600
800
1,000
1,200
0 10 20 30 40
Avg.DailyRate(boe/d)
Producing Months
CHK’s WRD Eagle Ford Type Curve(2)
29. PREMIER DIVERSIFIED INDEPENDENT
WITH SIGNIFICANT HIGH-MARGIN OIL-GROWTH RUNWAY
(1) Unless otherwise noted, operational statistics are as of 9/30/2018 for acreage totals and total production as of 3Q’18. Acreage and production volumes are net to CHK.
(2) Actual production for 2Q’18
WRD data reflects CHK’s analysis based solely on public information.
High-margin Oil-growth Assets(1)
Powder River Basin ~253,000 Acres 29 mboe/d
CHK Eagle Ford ~235,000 Acres 100 mboe/d
WRD Eagle Ford ~420,000 Acres 47 mboe/d
(2)
Cash-generating Gas Assets(1)
Gulf Coast ~339,000 Acres 128 mboe/d
Appalachia North ~547,000 Acres 135 mboe/d
Growth Optionality
(1)
Mid-Continent ~775,000 Acres 25 mboe/d
Exploration/Other ~1,521,000 Acres N/A
Targeting 80%+
of future drilling and completion
activity focused on high-margin
oil-growth assets
WildHorse Addition
Premier high-margin oil-growth engine
November 2018 Update 29
30. Click to edit takeaway
Click to edit takeaway
Click to edit takeaway
POWDER RIVER BASIN
OIL-GROWTH ENGINE
(1) Represents average for 3Q’18
Production Ramp Ahead of Schedule
Turner Leads the Way
Stacked Future, Hotspot Advantage
~2.6 bboe
Gross resource size
~1.7 bboe net
Production Mix(1)
Natural Gas
42%41%
Oil
17%
NGL
November 2018 Update 30
31. ACCELERATING THE TURNER
Exceptional productivity
• 24 Chesapeake TILs to date
• Proven, repeatable results
• ~60% of Turner acreage delineated
• Currently running five rigs
- Four TILs in October
- Three TILs in November
- Eight TILs in December
SFU 19 23H
1,479 Max boe/d
(84% oil)
BB 1 18H
2,725 Max boe/d
(86% oil)
NWFU 26 20H
1,900 Max boe/d
(76% oil)
COMBS 13 20H
1,987 Max boe/d
(21% oil)
RANKIN 5 1H
2,886 Max boe/d
(51% oil)
WYOMING 36 1H
3,133 Max boe/d
(46% oil)
15
19
14
21
18
0
5
10
15
20
25
4Q'18E 1Q'19E 2Q'19E 3Q'19E 4Q'19E
PRB TIL Schedule
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
0 20 40 60 80 100 120 140 160 180 200
CHK Turner vs. Peers
CumulativeBoe
Days
Delineated
Turner Producing
Planned TIL
Planned 2019 Well
Turner
High GOR
November 2018 Update 31
32. TURNER SPACING TEST UPDATE
Field test yielding positive initial
results through 190 days
Optimal spacing drives maximum
field development value
Two additional tests underway
November 2018 Update 32
Unbounded
2,300ꞌ 2,300ꞌ
1,980ꞌ1,980ꞌ
Delineated
Turner Producing
Planned TIL
Planned 2019 Well
Turner
High GOR
GrossCumulativeProduction(boe/lateralft.)
0
5
10
15
20
25
30
35
40
0 15 30 45 60 75 90 105 121 136 151 166 181
1,980'
Unbounded
2,300'
Days
Spacing Performance
120 135 150 165 180
33. PRB – PREMIER GROWTH OPPORTUNITY
Progress to date
• Moved to Development phase of the Turner
• More than 5,000' of oil-rich, stacked pay opportunities
• Continue to appraise new formations
November 2018 Update 33
• Turner spacing tests
• Successful Turner
step-out tests
• Develop the
Turner core
(~60% delineated)
• Turner development
• Additional Turner
step-out tests
• Parkman and
Niobrara appraisal
2020+
• Appraisal in the
Teapot, Parkman,
Sussex, Frontier
and Mowry
• Upside spacing tests
• Continued Turner
development
20192018
34. SOUTH TEXAS
FOUNDATIONAL ASSET
(1) Free cash flow defined as net revenue less all operating costs and capital expenditures. Excludes corporate overhead costs such as capitalized interest and capitalized G&A expenses.
(2) Includes IOR potential
(3) Represents average for 3Q’18
Consistent High-Margin EBITDA Delivery
~$560 Million FCF(1)
in 2018
Multi-Zone Growth Potential
1.3 bboe
Net resource size(2)
Production Mix(3)
20%
Natural Gas
58%
Oil
22%
NGL
November 2018 Update 34
35. OPTIMIZING SOUTH TEXAS
DELIVERING MORE WITH LESS
Expected to generate ~$560 million
free cash flow(1)
in 2018
Increased lateral length, spacing and
completions design results in:
• 45% increase in initial well performance(2)
• Stabilization of base production
performance
November 2018 Update 35
(1) Free cash flow defined as net revenue less all operating costs and capital expenditures. Excludes corporate overhead costs such as capitalized interest and capitalized G&A expenses.
(2) Cumulative production to date of optimized Blakeway development program vs. historic development of the area at 330ꞌ spacing
(3) Peer and CHK data pulled from RS Energy Group from wells turned in line in 2017 – 2018 near CHK’s position. Peers include: Carrizo, EOG, EP Energy, Lewis, Marathon, Murphy, Noble, Sanchez, Silverbow, SM Energy, Venado.
(4) Peer and CHK data pulled from RS Energy Group from wells turned in line in 2017 – 2018 near CHK’s position. Peers include: Carrizo, EP Energy, Sanchez.
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2014 2015 2016 2017 2018
FirstSixMonthOil(bbl/1,000')
CHK Outpaces Basin Peers
in First Six Month Oil Delivery(4)
Peer 1 CHK Peer 2 Peer 3
Peer1
CHK
Peer3
Peer2
Peer4
Peer5
Peer6
Peer7
Peer8
Peer9
Peer10
Peer11
53
30 28
46
34
4Q'18E 1Q'19E 2Q'19E 3Q'19E 4Q'19E
Eagle Ford TIL Schedule
$0.50
$0.60
$0.70
$0.80
$0.90
$1.00
$1.10
$D&C/LateralFoot
Range of Capex Estimates ($/Lateral Foot)(3)
RSEG
WoodMac
$1,100
$1,000
$900
$800
$700
$600
$500
36. IMPROVED OIL RECOVERY
PUSHING THE ENVELOPE
Oil-window opportunity
• 1.3 – 1.7x potential improvement in oil recovery
Proven technology
• Multiple in-basin pilots and
up-scaled projects
Expected benefits
• Adds value to existing well set
• Lower capital cost per barrel
Path forward
• 65-well project underway
• First injection: June 2019
Evaluating expansion west in 2020
November 2018 Update 36
Oil
Volatile Oil
Condensate/Wet Gas
Dry Gas
Potential CHK IOR Project
Industry IOR Project
CHK Phase I
37. 0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
31-Jan-18 31-Jul-18 31-Jan-19 31-Jul-19
GrossOil(bbl/d)
FAITH RANCH PROJECT
BATCH DEVELOPMENT YIELDS CONTINUED SUCCESS
Faith Ranch ~21,300 net acres
• 283 producing wells
~$33/bbl breakeven(1)
• Faith – Toro ~80% ROR(2)
• Faith – San Pedro ~45% ROR(2)
November 2018 Update 37
(1) Assumes $2.75/mcf gas price
(2) Assumes $2.75/mcf and $60/bbl
Faith Ranch
2018 Development
16 Wells
Faith-San Pedro
29 Wells
Faith-Toro
Phase 1
Phase 2
Faith Production Profile
Base
2018 Wedge
45 TILs
in late 3Q, 4Q
Jan’18 Jul’18 Jan’19E Jul’19E
38. APPALACHIA NORTH
LEADING THE INDUSTRY
November 2018 Update
~$350 Million FCF(1)
in 2018
Premier Position
Expanding Inventory
Production Mix(1)
Natural Gas
100%
(1) Free cash flow defined as net revenue less all operating costs and capital expenditures. Excludes corporate overhead costs such as capitalized interest and capitalized G&A expenses.
(2) Represents average for 3Q‘18
38
12.6 tcf
Net resource size
39. 0
2
4
6
8
10
12
14
0 5 10 15 20 25 30 35
AverageGrossCumulativeProduction(bcf)
Normalized Producing Months
McGavin 6H (10,400ꞌ LL)
DPH 3H (6,100ꞌ LL)
CHK Historical (6,100ꞌ LL)
Wood 3H (12,500ꞌ LL)
Peers (5,000ꞌ – 8,500ꞌ LL)
LEADING THE COMPETITION
Expected to generate ~$350 million
free cash flow
(1)
in 2018
Production outpacing competitors
• 25 TILs in 4Q
Technology changing the play
• Longer laterals, enhanced completions
November 2018 Update 39
(1) Free cash flow defined as net revenue less all operating costs and capital expenditures. Excludes corporate overhead costs such as capitalized interest and capitalized G&A expenses
(2) Peer and CHK data pulled from IHS for wells turned in line in 2017 and 1Q’18. Peers include: Cabot, Chief, EQT, Repsol, Seneca and SWN.
Chesapeake Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6
0
2
4
6
8
CumulativeGrossProduction(bcf)
NA NA
Six-Month Gross Cumulative
(Scaled to 10,000ꞌ LL)(2)
CHK
0
10
20
30
40
50
60
70
IP30:GrossGasRate(mmcf/d)
CHK Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6
IP30
(Scaled to 10,000ꞌ LL)(2)
Median
Range
40. November 2018 Update
(1) Represents average for 3Q’18
Completion and Drilling Excellence Redefines Play
Expansive Inventory
Access to Premium Markets
15 tcf
Net resource size
GULF COAST
CONSISTENT PERFORMANCE, SIGNIFICANT RUNNING ROOM
40
Production Mix(1)
Natural Gas
100%
41. HAYNESVILLE
FIRST MOVER, INNOVATION LEADER
First 15k lateral – GEPH 1HC
• 5.8 bcf in 170 days
Substantial portfolio of extended reach laterals(1)
Driving capital efficiency by increasing lateral length
• Currently drilling two additional 15k laterals
• Potential for five 15k laterals in 2019
Operational advances continue to unlock value
November 2018 Update 41
(1) Includes laterals of 10,000ꞌ or greater in lateral length
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
0
10
20
30
40
50
60
0 20 40 60 80 100 120 140 160 180
CumulativeGrossProduction(bcf)
DailyGrossProduction(mmcf/d)
Days
GEPH 1HC
Daily Production
Cumulative Production
Planned 15k Well
10k Fairway
Existing
15k Fairway
GEPH 1HC
42. MID-CONTINENT
REINVENTING A LEGACY ASSET
November 2018 Update
(1) Represents average for 3Q 2018
Well-Positioned Acreage
Appraising Liquid-Rich Opportunities
Efficient Oil Volumes
~550 mmboe
Net resource size
42
Production Mix
(1)
48%
Natural Gas
36%
Oil
16%
NGL
43. REINVENTING THE MID-CONTINENT
November 2018 Update August 2018 Update 43
~783,000 (96% HBP) of
multi-zone stacked potential
Targeting liquid-rich opportunities
• Appraising six formations in 2018
Reopening mature plays through
modern technology
Wedge
Current Rig Location
Producing Well
Planned TIL
Oswego
Oil
Osage
Woodford
Hunton
Penn Shales
Chester
Meramec Silt
Meramec Lime
Woods
County
Major
County
Blaine
County
Kingfisher
County
Canadian
County
45. LEADING PERFORMANCE
November 2018 Update 45
$0.00
$2.00
$4.00
$6.00
$8.00
$10.00
Peer 1 Peer 2 Peer 3 CHK Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11
Lease Operating Expenses (LOE) per boe(1)
$0.00
$5.00
$10.00
$15.00
$20.00
Peer 1 CHK Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11
F&D per boe
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Peer 1 Peer 2 Peer 3 CHK Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11
Return on Capital Employed (ROCE)
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
Peer 1 Peer 2 CHK Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11
G&A per boe
Peer 11Peer 1 Peer 2 Peer 3 CHK Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10
Data pulled from Capital IQ and recent company reported filings and represent last twelve months of performance from 9/30/18; Peer group includes: Apache, Anadarko, Antero Resources, Cimarex
Energy, Devon Energy, Encana, EQT Corporation, Newfield Exploration, Noble Energy, Pioneer Natural Resources, Range Resources; F&D defined as total D&C capital over total reserve extensions.
(1) LOE is a component of oil, natural gas and NGL production expenses in CHK’s statements of operations
46. HEDGING POSITION
AS OF 10/26/18
November 2018 Update 46
Note: As of October 26, 2018 and percentages based on midpoints of Management’s Outlook dated October 30, 2018, less actual settlements through September 30, 2018.
Natural Gas
2018
Oil
2018
$54.09/bbl
WTI
85% Swaps
$39.15/$47/$55/bbl
WTI
6% Collars
NGL
2018
46%
Swaps
$3.00/mcf
HH
74% Swaps
$3.00/$3.25/mcf
HH
7% Collars
• ~88 bcf of 2019 natural gas hedged with three way collars @ $2.50/$2.80/$3.10/mcf
• ~325 bcf of 2019 natural gas hedged with swaps @ $2.83/mcf
• ~55 bcf of 2019 natural gas hedged with collars @ $2.75/3.02/mcf
• ~15 mmbbls of 2019 oil hedged with swaps @ $59.44/bbl
47. BASIS HEDGES
AS OF 10/26/18
Note: As of October 26, 2018, less actual settlements through October 26, 2018.
CIG
2019: 11 bcf @ ($0.89) / mcf
Tennessee Zone 4-300 Leg
2018: 5.9 bcf @ ($0.77) / mcf
HSC
2019: 22.5 bcf @ $0.03 / mcf
Tetco M3
2019: 4.63 bcf @ $2.22 / mcf
Argus Houston vs Argus WTI
2018: 460 mbbls @ $3.57 / bbl
2019: 2,896 mbbls @ $5.75 / bbl
Argus LLS vs Argus WTI
2018: 3,128 mbbls @ $3.51 / bbl
2019: 4,015 mbbls @ $6.20 / bbl
November 2018 Update 47
48. CORPORATE INFORMATION
November 2018 Update
Headquarters
6100 N. Western Avenue
Oklahoma City, OK 73118
WEBSITE: www.chk.com
Corporate Contacts
BRAD SYLVESTER, CFA
Vice President – Investor Relations
and Communications
DOMENIC J. DELL’OSSO, JR.
Executive Vice President and
Chief Financial Officer
Investor Relations department
can be reached at ir@chk.com
Publicly Traded Securities Cusip Ticker
7.25% Senior Notes due 2018 #165167CC9 CHK18A
3mL + 3.25% Senior Notes due 2019 #165167CM7 CHK19
6.625% Senior Notes due 2020 #165167CF2 CHK20A
6.875% Senior Notes due 2020
#165167BU0
#165167BT3
#U16450AQ8
CHK20
6.125% Senior Notes Due 2021 #165167CG0 CHK21
5.375% Senior Notes Due 2021 #165167CK1 CHK21A
4.875% Senior Notes Due 2022 #165167CN5 CHK22
8.00% Senior Secured Second Lien Notes due 2022
#165167CQ8
#U16450AT2
N/A
5.75% Senior Notes Due 2023 #165167CL9 CHK23
8.00% Senior Notes due 2025
#165167CT2
#U16450AU9
N/A
8.00% Senior Notes due 2027
#165167CV7
#U16450AV7
N/A
5.50% Contingent Convertible Senior Notes due 2026 #165167CY1 N/A
2.25% Contingent Convertible Senior Notes due 2038 #165167CB1 CHK38
4.5% Cumulative Convertible Preferred Stock #165167842 CHK PrD
5.0% Cumulative Convertible Preferred Stock (Series 2005B)
#165167834
#165167826
N/A
5.75% Cumulative Convertible Preferred Stock
#U16450204
#165167776
#165167768
N/A
5.75% Cumulative Convertible Preferred Stock (Series A)
#U16450113
#165167784
#165167750
N/A
Chesapeake Common Stock #165167107 CHK
48
Editor's Notes
10% discount rate and a $2.75
Emma – change colors on wells away from green / red
Elevator pitch slide
Delivering more w/ less
What graph goes in bottom left?
Developed F&D
EUR/ft
Vesper Unit I DIM F 2H
25,175’ MD
Spud to TD in 15 days
Spud to RR in 17.75 days
Lead with F&D with capex increase, CAPITAL EFFICIENCY
In general when comparing primary recovery projects to secondary (i.e. – improved oil recovery projects), secondary projects will be cheaper but longer. Because of that we anticipate that secondary projects will taking longer to payout and lower near-term cashflow but higher PIR and better mid-term cashflow
EOG ran pilots from 2013-2015 before up-scaling local programs
The Size of the Prize is Big
Estimate total primary recovery of CHK Eagle Ford ~ 700 MMBO*
Potential incremental CHK oil recovery from IOR ~ 210 to 490 MMBO
“Huff & Puff” technology is proven in the Eagle Ford play
EOG & MOC pilots and up-scaled projects
Continue multi-discipline venture plan and recommend future pilot to determine CHK commerciality
Benefits to CHK
Increase reserves and cashflow on existing wells (PIR=2+)
Competitive ROR
Lower capital cost per BO recovered
Peers include: SWN PRODUCTION COMPANY LLC, CABOT OIL & GAS CORPORATION, CHIEF OIL & GAS LLC, SENECA RESOURCES CORPORATION, REPSOL OIL & GAS USA LLC, EQUITABLE PRODUCTION COMPANY
Bar charts inclusive of all wells spud between 1/1/2017 and 1/1/2018 that have TIL’d. TIL dates extend into April of 2018.
Line graph inclusive of all wells TILd from 1/1/2015-present, LLs not normalized
Used upside 18.1bcf curve for BSSR 10k
Used Spingridge SE 10k and Springridge SE 15k Typecurves for “HSVL” curves and capex
Used NAV Capex for wells spud 1/1/2019, reduced 10k capex by 680k and 15k capex by $1020k for brown sand.
PV discussion– 15k opens once you talk 10k