Lexington, Mass.; September 7, 2011 — Atmospheric and Environmental Research (AER) announced today that Chesapeake Energy Corporation (NYSE:CHK) has adopted AER’s suite of seasonal products to aid in weather forecasts that support Chesapeake’s hedging and marketing activities. Chesapeake is the country’s most active driller, second-largest producer of natural gas, and a Top 15 oil producer. AER, a Verisk Analytics company (NASDAQ:VRSK), was the only commercial forecasting service to accurately predict last winter’s cold and is introducing advanced techniques that deliver these skilled forecasts earlier in the 2012 winter season.
“We continue to be impressed by the level of insight and scientific rigor that AER provides,” said Jon Davis, chief meteorologist at Chesapeake. “AER’s suite of products, as well as the extensive back-testing they have done on their new seasonal forecast techniques, factored heavily into our decision.”
“We have tremendous respect for Chesapeake’s technical leadership in the industry and are pleased to contribute AER’s proprietary seasonal forecast data to Chesapeake’s tool set for seasonal forecasting,” said Kyle Beatty, AER managing director. “The enhanced AER products provide energy companies like Chesapeake with means to more accurately predict winter temperatures at longer lead times.”
The AER Seasonal Forecast product suite provides seasonal, subseasonal, and monthly forecast insights and analyses, including AER’s proprietary forecast, data and indices that diagnose the impacts of snow cover, arctic sea ice, and related factors on the global circulation that drive cold- and warm-air outbreaks.
Chesapeake’s adoption of the AER Seasonal Forecast service, sCast, extends their usage of AER’s forecasts and weather data for the Northern Hemisphere including North America, Europe and Asia. Chesapeake will continue to utilize AER’s Ensemble Forecast service, eCast, which provides 15-day ensemble-based forecasts of hundreds of cities per day from multiple models, including the 51-member ECMWF Ensemble Prediction System and the 21-member GFS forecast model.
AER is a leading provider of commercial forecasts to businesses and provides forecasts and research to governments, in the United States, Europe, and Asia. The skill of the AER Seasonal Forecast has been validated through peer-reviewed scientific journals and is highlighted in a Special Report by the National Science Foundation.
About Atmospheric and Environmental Research
Atmospheric and Environmental Research helps businesses and governments anticipate and manage climate- and weather-related risks. Large insurance, energy, and investment firms count on AER to help decrease their weather-related losses and increase profitability by integrating state-of-the-art climate science and weather information into their planning and decision processes. Large government agencies like NOAA, NASA, and the Departments of Defense and Energy rely on AER’s scientists to help solve weather- and climate-related problems of vital national importance in energy, environment, national security, and climate change. Established in 1977, AER is headquartered in Lexington, Massachusetts, and is a member of the Verisk Analytics family of companies. Please visit www.aer.com or join us on Twitter and our other social media channels.