April 05, 2011 

Oklahoma City-based Chespapeake Energy said today that it has converted 800 company vehicles to compressed natural gas, which the company said is selling for $1.39 a gallon in Oklahoma.

That's $2.22 less than the $3.61 average price for a gallon of regular gasoline in the Fort Worth-Arlington area, as reported today by auto club AAA, Wright Express and Oil Price Information Service.

Chespeake, which has a large regional operation based in downtown Fort Worth, is the second largest producer in North Texas' natural gas-rich Barnett Shale. The company said it plans to convert all of its corporate fleet of 4,200 vehicles to natural gas by 2014.

All of Chesapeake's top 15 senior executives, led by CEO Aubrey McClendon, drive natural gas-powered vehicles, the company said.

Chesapeake estimates it will save "at least" $11 million annually once its entire fleet has been converted.

The next phase of the fleet conversion will include the company's vehicles in North Texas and Louisiana. Chesapeake said it plans to partner with local fuel retailers to build public CNG refueling stations

Buck