Lawler has more than 25 years of experience as a petroleum engineer. The positive announcement of a new CEO has been met with a massive $9 million purchase by Chesapeake Energy Corporation (NYSE : CHK )'s Chairman of the Board. Board member Archie Dunham, the 73-year old Non-Executive Chairman at Chesapeake, provided a clear vote of confidence by purchasing 450,000 shares of stock with his own personal finances. Dunham was the President and CEO of the former ConocoPhillips from 1996-2002. On a fundamental basis, Chesapeake is expected to rapidly expand its oil and gas production under Lawler's leadership. Analysts at Susquehanna upgraded CHK to a "positive" rating from "neutral" on the news, raising their price target to $26. I recommend buying Chesapeake Energy Corporation (NYSE : CHK ) on the back of the $9 million purchase by chairman Archie Dunham.