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Chesapeake Energy Corporation (NYSE: CHK) shares may be well off of their highs this year, but a recovery isn't out of the question, according to many experts. The largest natural gas producer in the United States has come under pressure recently thanks to lower natural gas prices. However, many experts believe that natural gas prices have bottomed and that companieslike Chesapeake Energy are a bargain at these low levels. So, is this a company that investors should keep an eye on going forward?

Chesapeake Energy has four giant shale plays, each of which taps into laterally extensive natural gas deposits. The firm is the first or second largest producer in each of these shales, from the old Barnett Shale to the younger Haynesville Shale. There has been speculation that the latter may become the largest ever natural gas depsoti in the country. Chesapeake is also trading near its intrinsic value with its quarter-end enterprise value roughly matching the present value of future cash flows from proven reserves.

Chesapeake Energy Corporation is a producer of natural gas in the United States and first among independents. It owns interests in approximately 38,500 producing oil and natural gas wells that are producing approximately 2.2 billion cubic feet equivalent (bcfe), per day, 92% of which is natural gas. In August 2008, Chesapeake announced that it has closed the sale of its Arkoma Basin Woodford Shale assets to BP America Inc.

Shares of Chesapeake Energy rose $0.10, or 0.18%, to $45.69 per share.

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