Point of View: Chesapeake drilling for gas with focus on US Midcontinent

Chesapeake Energy Corp. plans to stay the course in 2005 with a business strategy that its cofounders developed during the late 1990s: Actively drill for natural gas primarily in the US Midcontinent.At a time when many producers find themselves "prosperous financially but somewhat prospect-constrained," Chesapeake Chairman and CEO Aubrey K. McClendon said, the Oklahoma City-based independent has a competitive advantage in the form of its 3.5-million-acre net leasehold inventory, 9-million-acre inventory of 3D seismic data, and ranking as the nation's most active driller.Chesapeake invested more than $800 million in land, leasehold, and 3D seismic surveys during the last 6 years to acc...

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