Chesapeake Energy Corporation was named Hydrocarbon Producer of the Year at the 9th Annual Platts Global Energy Awards program in New York last week. In addition, Chesapeake was ranked as the 14th fastest growing company in Platts' 2007 Top 250 Global Energy Companies list.

The Platts Global Energy Awards recognize excellence and innovation by companies and executives in more than a dozen sectors within the global energy industry. The Hydrocarbon Producer of the Year award recognizes excellence in the upstream energy industries. The award's criteria included:

--  Demonstration that activities in exploration and production
    set world-beating standards in one or all of a range of
    activities exploring for and finding new resources;

--  Pushing the boundaries of technical excellence and innovation
    in resource extraction;

--  Bringing in complex or difficult projects on schedule and
    budget;

--  Having an unparalleled safety and environmental record; and

--  Delivering consistent and growing returns to its shareholders
    or owners.

The award judges commented that they were impressed with Chesapeake's committed strategy of identifying and developing non-traditional natural gas plays, its ability to successfully execute acquisitions, its strong financial management and performance track-record.

Aubrey K. McClendon, Chesapeake's Chief Executive Officer, commented: "We are honored to be selected as the Hydrocarbon Producer of the Year and are proud of our accomplishments in building the nation's largest independent natural gas producer and the nation's most active drilling program. We are pleased that the hard work and dedication of Chesapeake's 6,000 employees have been recognized on the world stage and we look forward to continuing to provide substantial new supplies of clean-burning American natural gas in an increasingly energy-short world."

Tags: Chesapeake Energy Corporation