The service company was started in 2001 with a $25 million investment by Chesapeake to incorporate a vertical integration strategy and to build and refurbish five drilling rigs. Over the past decade, it has grown into one of the nation’s top oilfield service companies. An overall investment of about $1.8 billion has been made by Chesapeake into COS and its 30 percent interest in Frac Tech International LLC. By 2012, Chesapeake officials believe those service companies could be worth between $7 billion and $10 billion.

Six other subsidiaries are part of COS, including Nomac Drilling LLC; Performance Technologies LLC; Thunder Oilfield Services LLC; Compass Manufacturing LLC; MidCon Compression LLC; and CHK Directional Drilling LLC.

Jerry Winchester will serve as the first CEO of COS. He is a graduate of Oklahoma State University and has worked for Boots & Coots International Well Control and Halliburton. James Minmier joined COS and serves as president of Nomac Drilling and CHK Directional Drilling. William Stanger assumed the role of president of PTL after joining Chesapeake in 2010 as president of Great Plains Oilfield Rentals.

The team is rounded out by Zachary Graves, who joined COS as a result of Chesapeake’s acquisition of Bronco Drilling Company. At Bronco he served as executive vice president of operations, and prior to that was chief financial officer. David Fisher was named chief administrative office of COS in May 2011. He previously served as vice president of drilling services for Chesapeake.

Chesapeake CEO Aubrey McClendon applauded the new leadership.

"We have built a premier U.S. onshore oilfield service business in COS and are extremely pleased to add additional first-class leadership to further enhance our success and manage this distinctive combination of very profitable assets,” he said in a prepared statement.