Beacon Awards: Chesapeake Energy Corp.

Journal Record, The (Oklahoma City),  Jul 11, 2008  by Jessica Mitchell

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Since its founding in 1989, Chesapeake Energy has concentrated on two core responsibilities - building shareholder value while helping to make the world a better place.

As Oklahoma City-based Chesapeake explores for and produces natural gas resources, its operations help stimulate the economies and improve the infrastructures of entire regions. Beyond its operations, Chesapeake takes pride in its role as a corporate citizen.

The company believes strongly in giving back to the community in a variety of ways, including financial support and employee participation.

In 2007, Chesapeake contributed $20 million to support programs in the areas of education, health, social services and economic development. But just as important as philanthropy, the company strongly supports volunteer efforts of its employees. Senior management team members share their insights and leadership as board members for nonprofit organizations. Rig hands serve as volunteer firefighters. Land technicians tutor grade-school students. Geologists lead Boy Scout troops. Every day, Chesapeake employees know their time, talents and contributions have helped enhance the quality of life, both today and in the future, for their friends and neighbors.

"The generosity of Chesapeake not only expands the capability of nonprofit organizations, it brings people together and builds community," said Mary Gilmore Caffrey, executive director of The Tree Bank Foundation.

Chesapeake has partnered with the Oklahoma City Planning Department and The Tree Bank Foundation to provide hundreds of trees valued at thousands of dollars to five different "Neighbor Woods" projects. These projects helped increase property values, reduce utility bills and improved the environment for these neighborhoods, including the one surrounding Horace Mann Elementary School.

In addition to the "Neighbor Woods" project at Horace Mann, Chesapeake began a volunteer mentoring partnership with the school. Approximately 130 volunteer mentors meet with the students throughout the school year to help improve their reading proficiency and enhance their vocabulary. Due to the success at Horace Mann, the energy company also established a mentoring program at Belle Isle Middle School.

Chesapeake also is dedicated to higher education. Since 2004, the company has donated millions of dollars to scholarship programs with 14 universities and colleges in 20 states, including Oklahoma.

In addition to these community and public service improvements and education initiatives, the company also supports such projects as public safety, health care, youth programs, historical restoration and preservation, environmental protection and restoration and many more.

AT A GLANCE

Name of company: Chesapeake Energy

Headquarters location: Oklahoma City

Year established: 1989

Type of business: Oil and natural gas exploration and production

No. of employees (statewide): 4,267

No. of employees (total): 6,979

Amount of philanthropic contributions in 2007: $20 million

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