SIGNATURE PROJECT ANNOUNCED FOR OKLAHOMA RIVER

Chesapeake Energy Corporation Gives Finish Line Tower as Gift to City

$5 Million Gift Celebrates Company’s 20^th Anniversary

May 21, 2009 – Oklahoma City, OK – Plans were unveiled today for the newest iconic structure to be built along the Oklahoma River as part of the growing boathouse sports district – a four-story Finish Line Tower.  The world-class structure, which will officially be named the Chesapeake Finish Line Tower, was presented as a gift to Oklahoma City from Chesapeake Energy in recognition of the significant role the community has played in the company’s success during the past two decades.

Aubrey K. McClendon, co-founder and CEO of Chesapeake, presented a framed rendering of the tower wrapped in a ribbon to Oklahoma City Mayor Mick Cornett during a community event held at the Chesapeake Boathouse today.  Since its opening in 2006, the Chesapeake Boathouse has established itself as an award-winning structure which helped bring into focus the potential for the Oklahoma River to evolve into one of the world’s premiere rowing venues.

“On this 20^th anniversary of the founding of our company, we wanted to recognize the incredible role this city and state have played in our success for the past 20 years,” commented McClendon.  “While our company has expanded its reach and opportunity to become the nation’s largest independent producer of clean-burning natural gas, we have remained steadfast in our commitment to our Oklahoma values of hard work, creativity, integrity and service.”

McClendon continued, “We always strive to improve the communities in which we operate.  Over the past 20 years we have contributed more than $80 million around the country to non-profit organizations who are dedicated to helping make communities better places to live, work and play.  In that regard, no state or city has been more instrumental in our success than Oklahoma and Oklahoma City.  We felt it appropriate, given what this state and city have done for us over the years, to give back to this community something very special, something that will elevate the Oklahoma River and move us even closer to realizing the bold vision of becoming a truly world-class venue for rowing, canoeing and kayaking training and competition.”

In accepting the gift given on behalf of McClendon and Chesapeake’s employees, Oklahoma City Mayor Mick Cornett said, “I am delighted to accept this gift on behalf of Oklahoma City.  This is a remarkable gesture from one of the most exceptional corporations in our city.  Chesapeake is an Oklahoma business success story with few rivals in our state’s history.  While we celebrate this milestone in the young history of the company, we look forward with increased excitement as natural gas plays a much bigger role in America’s new energy future, a future built on the greater use of clean alternative fuels such as natural gas.” 

Mayor Cornett went on to note:  “Chesapeake’s early and long-standing commitment to the river has been inspirational.  The new Chesapeake Finish Line Tower on the Oklahoma River will cement Oklahoma City’s big-league status in the world of aquatic sports.”

The much-anticipated tower, designed by Oklahoma award-winning architect Rand Elliott with Elliott + Associates, is anticipated to become an another icon along the river to accompany his Chesapeake Boathouse and other boathouse projects that will be built in the next few years.  The tower represents a major step towards achieving the vision of creating a world class aquatic rowing, canoeing and kayaking venue in Oklahoma City.  The tower will stand 60 feet in height, and will be clearly visible even from Interstate 35.  The 7500 square foot building will consist of four levels:

·      Level 1:  Regatta organization/technology level

·      Level 2:  Finish line jury/timing seats

·      Level 3:  Commentary/media/race control

·      Level 4:  VIP penthouse and observation deck

The tower will be clad in white architectural grade panels with clear and translucent glass providing panoramic views of the race course and the city.  The finish line wire is incorporated into the tower itself and is graphically represented on adjacent sidewalks and within the building as a continuous red line.

The Chesapeake Finish Line Tower is designed to meet guidelines established by FISA, the international governing body for the sport of rowing.  The tower will be used throughout the year for both race events and community activities.

“We currently have a world-class 2000 meter race course which has attracted a great deal of attention both nationally and internationally,” said Mike Knopp, executive director of the Oklahoma City Boathouse Foundation.  “Adding this incredible finish line tower, which will meet international competition standards, will significantly strengthen the Oklahoma River race course as a world-class venue.  It will be, without question, among the best regatta venue facilities in the world.”

“Chesapeake’s long-term commitment to Oklahoma River projects is truly remarkable,” said Ron Norick, Chairman of the Oklahoma City Riverfront Redevelopment Authority.   “Ten years from now, we will not be able to recognize the Oklahoma River, thanks to the leadership demonstrated by Chesapeake and our other major stakeholders,” Norick added. 

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Event Photos