Chesapeake Energy Corporation operates within the United States, specializing in locating, developing, and extracting crude oil, natural gas, and natural gas liquids (NGLs) from subterranean formations. The company possesses holdings in key natural gas production zones, such as the Marcellus in Pennsylvania's Northern Appalachian Basin; the Haynesville, situated in Northwestern Louisiana; the Eagle Ford in South Texas; the Brazos Valley in Southeast Texas; Wyoming's Powder River Basin; and the Mid-Continent region within Oklahoma's Anadarko Basin. As of December 31, 2019, its asset base included ownership interests in around 13,500 oil and natural gas wells, with proven reserves estimated at 1,572 million barrels of oil equivalent.