Chesapeake Granite Wash Trust (NYSE:CHKR) owns royalty interests in oil, natural gas liquids and natural gas properties located in Washita County, Oklahoma, which were conveyed to the Trust by Chesapeake Energy Corporation (NYSE:CHK). These royalty interests entitle the Trust to receive, after the deduction of post-production expenses and taxes:

  • 90% of the proceeds attributable to Chesapeake Energy Corporation’s net revenue interest in the sale of production from 69 horizontal producing wells; and
  • 50% of the proceeds attributable to Chesapeake’s net revenue interest in the sale of production from 118 horizontal development wells to be drilled by Chesapeake Energy Corporation within a defined Area of Mutual Interest (AMI).

The Trust will make quarterly distributions of the cash receipts attributable to the royalty interests, after deducting the Trust’s expenses, through the quarter ending June 30, 2031.

The business and affairs of the Trust are managed by The Bank of New York Mellon Trust Company, N.A., as trustee.

© Chesapeake Granite Wash Trust

This information includes forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. We caution you not to place undue reliance on our forward-looking statements. We assume no obligation to update any forward-looking statements made here as a result of new information or future events or developments. Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to be correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” beginning on page 20 of the final prospectus filed by the Trust with the Securities and ExchangeCommission on November 14, 2011.

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