EX-25.1 7 dex251.htm STATEMENT OF ELIGIBILITY ON FORM T-1 OF THE BANK OF NEW YORK Statement of Eligibility on Form T-1 of The Bank of New York

Exhibit 25.1

 

FORM T-1

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

CHECK IF AN APPLICATION TO DETERMINE

ELIGIBILITY OF A TRUSTEE PURSUANT TO

SECTION 305(b)(2)

 

THE BANK OF NEW YORK

(Exact name of trustee as specified in its charter)

 

New York

  13-5160382

(State of incorporation

 

(I.R.S. employer

if not a national bank)

 

identification no.)

     

One Wall Street, New York, N.Y.

  10286

(Address of principal executive offices)

 

(Zip code)

 

CHESAPEAKE ENERGY CORPORATION

(Exact name of obligor as specified in its charter)

 

Oklahoma

  73-1395733

(State or other jurisdiction of

 

(I.R.S. employer

incorporation or organization)

 

identification no.)

     

6100 North Western Avenue.

   

Oklahoma City, Oklahoma

 

73118

     

(Address of principal executive offices)

 

(Zip code)

 

6.875% Senior Notes due 2016

(Title of the indenture securities)

 

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1.   General information. Furnish the following information as to the Trustee:

 

  (a)   Name and address of each examining or supervising authority to which it is subject.

 

Name

  Address
     

Superintendent of Banks of the

State of New York

 

2 Rector Street,

New York, N.Y. 10006, and

Albany, N.Y. 12203

     

Federal Reserve Bank of New York

 

33 Liberty Plaza

New York, N.Y. 10045

     

Federal Deposit Insurance Corporation

  Washington, D.C. 20429
     

New York Clearing House Association

  New York, New York 10005

 

  (b)   Whether it is authorized to exercise corporate trust powers.

 

Yes.

 

2.   Affiliations with Obligor.

 

If the obligor is an affiliate of the trustee, describe each such affiliation.

 

None.

 

16.   List of Exhibits.

 

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 and rule 24 of the Commission’s Rules of Practice.

 

  1.   A copy of the Organization Certificate of The Bank of New York (formerly Irving Trust Company) as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers. (Exhibit 1 to Amendment No.1 to Form T-1, filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with Registration Statement No. 33-21672 and Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637.)

 

  4.   A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 33-31019.)

 

 

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  6.   The consent of the Trustee required by Section 321(b) of the Act. (Exhibit 6 to Form T-1 filed with Registration Statement No. 33-44051.)

 

  7.   A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.

 

SIGNATURE

 

Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee, The Bank of New York, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York, and State of New York, on the 15th day of March, 2004

 

THE BANK OF NEW YORK

By:

 

/s/ Louis P. Young


   

Louis P. Young

Vice President

 

 

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EXHIBIT 7

 


Consolidated Report of Condition of

 

THE BANK OF NEW YORK

 

of One Wall Street, New York, N.Y. 10286

And Foreign and Domestic Subsidiaries,

a member of the Federal Reserve System, at the close of business December 31, 2003, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.

 

ASSETS

    
 
Dollar Amounts
In Thousands

Cash and balances due from depository institutions:

      

Noninterest-bearing balances and currency and coin

   $ 3,752,987

Interest-bearing balances

     7,153,561

Securities:

      

Held-to-maturity securities

     260,388

Available-for-sale securities

     21,587,862

Federal funds sold and securities purchased under agreements to resell

      

Federal funds sold in domestic offices

     165,000

Securities purchased under agreements to resell

     2,804,315

Loans and lease financing receivables:

      

Loans and leases held for sale

     557,358

Loans and leases, net of unearned income

     36,255,119

LESS: Allowance for loan and lease losses

     664,233

Loans and leases, net of unearned income and allowance

     35,590,886

Trading Assets

     4,892,480

Premises and fixed assets (including capitalized leases)

     926,789

Other real estate owned

     409

Investments in unconsolidated subsidiaries and associated companies

     277,788

Customers’ liability to this bank on acceptances outstanding

     144,025

Intangible assets

      

Goodwill

     2,635,322

Other intangible assets

     781,009

Other assets

     7,727,722
    

Total assets

   $ 89,257,901
    


LIABILITIES

      

Deposits:

      

In domestic offices

   $ 33,763,250

Noninterest-bearing

     14,511,050

Interest-bearing

     19,252,200

In foreign offices, Edge and Agreement subsidiaries, and IBFs

     22,980,400

Noninterest-bearing

     341,376

Interest-bearing

     22,639,024

Federal funds purchased and securities sold under agreements to repurchase

      

Federal funds purchased in domestic offices

     545,681

Securities sold under agreements to repurchase

     695,658

Trading liabilities

     2,338,897

Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases)

     11,078,363

Bank’s liability on acceptances executed and outstanding

     145,615

Subordinated notes and debentures

     2,408,665

Other liabilities

     6,441,088
    

Total liabilities

   $ 80,397,617
    

Minority interest in consolidated subsidiaries

     640,126

EQUITY CAPITAL

      

Perpetual preferred stock and related surplus

     0

Common stock

     1,135,284

Surplus

     2,077,255

Retained earnings

     4,955,319

Accumulated other comprehensive income

     52,300

Other equity capital components

     0
    

Total equity capital

     8,220,158
    

Total liabilities minority interest and equity capital

   $ 89,257,901
    


I, Thomas J. Mastro, Senior Vice President and Comptroller of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief.

 

Thomas J. Mastro,

Senior Vice President and Comptroller

 

We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions and is true and correct.

 

Thomas A. Renyi

Gerald L. Hassell

Alan R. Griffith

  Directors