Chesapeake Energy Q1 2010 Earnings Call Aubrey McClendon -...

Chesapeake Energy Q1 2010 Earnings Call
Aubrey McClendon - Co-Founder, Chairman, Chief Executive Offic
"And then also the Niobrara play and the D-J Basin, we have 400,000 acres. And that could probably increase a fair amount. What we're finding is the big companies around the world that are oil companies have clearly loved what we have found in gas in the U.S. But given that there are others, they'd probably just assume it's bringing them into oil deals as well. And so they have a big appetite and a lot of money, and it takes big leasehold positions to create the kind of billions of barrels of oil and equivalent impact to them that we think we can deliver. So we'll continue to do what we do really well, perhaps singularly well, which is to identify new plays and buy the acreage and then bring in partners at a very advantageous cost differential to us. It's been a model that's worked well for us, and we'll continue to do so going forward.