Here is a link to the conference call CHK hosted yesterday. Some interesting information and some good questions from the analysts.

http://seekingalpha.com/article/99734-chesapeake-energy-corporation...

A few key points:

- End of year debt-to-cap 37%
- End of next year debt-to-cap 31-32%

Further reductions in drilling CAPEX; however, they will be ramping up HS and Fayetteville, while ramping down in OK and Barnett

HBP acreage will not be drilled as aggressively as "exposed" acreage:
"I think the third type of play that would see a reduction is a play where we already have the vast majority of our acreage HBP or held by production and therefore we have a great deal and more flexibility in managing our asset base. Obviously given the choice of drilling an infill well on a square mile of land that already is held essentially forever by existing production or drilling a well on an offsetting and that it does not have any production and we have the opportunity to HBP that unit to the drilling then we are going to savor drilling in that second unit."

Lots of good stuff. I still see CHK weathering this storm.