COSTA MESA, Calif., Aug. 28, 2006 (PRIMEZONE) -- Chesapeake Energy Corporation (NYSE:CHK) has acquired Gene D. Yost & Son Inc., a privately held business based in Mt. Morris, Pa. Transaction terms were not disclosed. RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as exclusive financial advisor to Gene D. Yost & Son Inc.
"The acquisition of Gene D. Yost & Son will allow Chesapeake to expand its Appalachian basin drilling program and operations," said Brian Boyle, managing director of RSM EquiCo Capital Markets.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets (www.rsmequico.com) is a global provider of investment banking services to private companies with annual revenues of up to $500 million. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives. RSM EquiCo Capital Markets LLC is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC.
RSM EquiCo Capital Markets, a subsidiary of RSM EquiCo Inc., is part of RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies.
The firm's international headquarters are located in Costa Mesa, California. It also has offices in Chicago, Boston, New York and London.
About Gene D. Yost & Son Inc.
Founded in 1960, Gene D. Yost & Son Inc. is a leading regional onshore driller, providing drilling services to the oil and gas exploration and coal mining industries in the Appalachian basin. The company owns and operates 12 drilling rigs and a variety of ground based equipment. The company operates primarily in Ohio, Pennsylvania, West Virginia and Kentucky and was ranked the 28th largest onshore driller in the United States in 2005.
About Chesapeake Energy Corporation
Chesapeake Energy Corporation is the third largest independent producer of natural gas in the U.S. Headquartered in Oklahoma City, the company's operations are focused on exploratory and developmental drilling and corporate and property acquisitions in the Mid-Continent, Permian Basin, South Texas, Texas Gulf Coast, Barnett Shale, Ark-La-Tex and Appalachian Basin regions of the United States. The company's Internet address is www.chkenergy.com.
RSM EquiCo is a tradename for RSM EquiCo, Inc. and its subsidiaries, which include: RSM EquiCo Capital Markets, LLC (broker-dealer licensed by the SEC and member NASD, SIPC), RSM EquiCo Canada, Inc. (limited market dealer registered with the Ontario Securities Commission) and EquiCo Europe Limited (authorised and regulated by the Financial Services Authority). RSM EquiCo, Inc. and its subsidiaries are wholly owned subsidiaries of H&R Block.