Summary of CHESAPEAKE ENERGY CORP

Item 8.01. Other Events.

On February 10, 2009, Chesapeake Energy Corporation (the "Company") issued a press release announcing a public offering of an additional $300 million of its existing 9.50% Senior Notes due 2015 (The "Senior Notes"). A copy of this press release is filed herewith as Exhibit 99.1.

On February 11, 2009, the Company issued a press release announcing the pricing of its previously announced offering of the additional Senior Notes. This press release also announced that the offering size had been increased to $425 million from the previously announced offering size of $300 million. A copy of the press release is filed herewith as Exhibit 99.2.

On February 11, 2009, the Company and its guarantor subsidiaries also entered into an Underwriting Agreement with Banc of America Securities LLC and Deutsche Bank Securities Inc. relating to the public offering of additional Senior Notes described above. A copy of the Underwriting Agreement is filed herewith as Exhibit 99.3.

On February 17, 2009, the Company completed the public offering of $425 million principal amount of the Senior Notes. The Senior Notes offering was made pursuant to a registration statement on Form S-3 (No. 333-156979) of the Company and its guarantor subsidiaries. The registration statement was automatically effective upon filing on January 27, 2009. A prospectus supplement dated February 11, 2009 to the base prospectus dated January 27, 2009 forming a part of the registration statement was filed on February 12, 2009 with the Securities and Exchange Commission (the "SEC") under Rule 424(b)(2) of the Securities Act of 1933, as amended. An opinion of counsel related to such registration statement and the Senior Notes offering is filed herewith as Exhibit 5.1.

The Senior Notes were issued on February 17, 2009 under an Indenture dated as of February 2, 2009 among the Company, certain of the Company's subsidiaries, as guarantors, and The Bank of New York Mellon Trust Company, N.A., as trustee, as amended and supplemented by the First Supplemental Indenture thereto dated as of February 10, 2009. The Indenture is incorporated herein by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed with the SEC on February 3, 2009 and the First Supplemental Indenture is filed herewith as Exhibit 4.2.