Chesapeake Energy provides $25,000 gift to SNU

FOR IMMEDIATE RELEASE
by Eunice Trent
February 15, 2006
Contact: Eunice Trent
Phone: 405.491.6600
Fax: 405.491.6381
E-mail: etrent@snu.edu

BETHANY, OKLAHOMA – Chesapeake Energy Corporation has donated $25,000 to Southern Nazarene University (SNU) to establish the Chesapeake Scholars’ Program. Presentation of the gift is scheduled to be given to the University on March 1, 2006 during the 10:00 a.m. chapel service in Herrick Auditorium on the campus of SNU.

Tom L. Ward, Chesapeake Chairman and Chief Operating Officer said, “Chesapeake is pleased to make this investment in Southern Nazarene University through the Chesapeake Scholars Program. This gift is a continuation of our financial support program to state universities in our major operating area or those that historically provide the company with high performing graduates. Chesapeake shares a common goal with SNU to provide increased access to quality higher education and enhanced career opportunities for Oklahoma residents. We encourage students benefited by this scholarship program to establish careers in Oklahoma and join with us to strengthen the states economy.”

The $25,000 contribution will be allocated over five years in $5,000 per year installments. The donation will provide undergraduate scholarship assistance to students who are Oklahoma natives or who attended high school in Oklahoma. The recipients of the scholarships will be designated as Chesapeake Scholars.

Students will need to apply for the scholarships and must exhibit academic and leadership qualities determined by the SNU scholarship selection process.

Chesapeake Energy Corporation is the second largest independent U.S. natural gas producer. Headquartered in Oklahoma City, the company’s operations are focused on exploratory and developmental drilling and property acquisitions in the Mid-Continent, Permian Basin, South Texas, Texas Gulf Coast, Ark-La-Tx and Appalachian Basin regions of the United States.

For information, contact SNU’s Office of University Advancement @ 405.491.6311.