CHESAPEAKE ENERGY CORPORATION - SUPPLEMENTAL TABLES
Table of Contents: | Page |
Natural Gas, Oil and NGL Production and Average Sales Prices | |
Capital Expenditures Accrued | 6 |
Non-GAAP Financial Measures | 7 |
Reconciliation of Adjusted Net Income | 8 |
Reconciliation of Adjusted Diluted Earnings Per Common Share | 8 |
Reconciliation of Adjusted EBITDAX | 8 |
Reconciliation of Adjusted Free Cash Flow | 9 |
Reconciliation of Net Debt | 9 |
.............. |
1
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
($ in millions, except per share data) | June 30, 2023 | December 31, 2022 | |||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 903 | $ | 130 | |||
Restricted cash | 72 | 62 | |||||
Accounts receivable, net | 671 | 1,438 | |||||
Short-term derivative assets | 417 | 34 | |||||
Assets held for sale | - | 819 | |||||
Other current assets | 157 | 215 | |||||
Total current assets | 2,220 | 2,698 | |||||
Property and equipment: | |||||||
Natural gas and oil properties, successful efforts method | |||||||
Proved natural gas and oil properties | 11,201 | 11,096 | |||||
Unproved properties | 2,000 | 2,022 | |||||
Other property and equipment | 501 | 500 | |||||
Total property and equipment | 13,702 | 13,618 | |||||
Less: accumulated depreciation, depletion and amortization | (3,049) | (2,431) | |||||
Total property and equipment, net | 10,653 | 11,187 |
Long-term derivative assets
Deferred income tax assets
Other long-term assets
Total assets
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
Accrued interest
Short-term derivative liabilities
Other current liabilities
Total current liabilities
Long-term debt, net
Long-term derivative liabilities
Asset retirement obligations, net of current portion
Other long-term liabilities
Total liabilities
Contingencies and commitments
Stockholders' equity:
Common stock, $0.01 par value, 450,000,000 shares authorized: 132,684,741 and 134,715,094 shares issued
Additional paid-in capital
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
$
$
$
78 | 47 | ||
952 | 1,351 | ||
526 | 185 | ||
14,429 | $ | 15,468 | |
642 | $ | 603 | |
39 | 42 | ||
26 | 432 | ||
944 | 1,627 | ||
1,651 | 2,704 | ||
2,036 | 3,093 | ||
29 | 174 | ||
277 | 323 | ||
40 | 50 | ||
4,033 | 6,344 | ||
1 | 1 | ||
5,726 | 5,724 | ||
4,669 | 3,399 | ||
10,396 | 9,124 | ||
14,429 | $ | 15,468 | |
2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
Three Months | Three Months | Six Months | Six Months |
Ended | Ended | Ended | Ended |
June 30, 2023 | June 30, 2022 | June 30, 2023 | June 30, 2022 |
($ in millions, except per share data)
Revenues and other:
Natural gas, oil and NGL
Marketing
Natural gas and oil derivatives
Gains on sales of assets
Total revenues and other
Operating expenses:
Production
Gathering, processing and transportation Severance and ad valorem taxes Exploration
Marketing
General and administrative Separation and other termination costs Depreciation, depletion and amortization Other operating expense, net
Total operating expenses
Income from operations
Other income (expense):
$ | 649 | $ | 2,790 | $ | 2,102 | $ | 4,704 | |||||
611 | 1,223 | 1,263 | 2,090 | |||||||||
159 | (514) | 1,089 | (2,639) | |||||||||
472 | 21 | 807 | 300 | |||||||||
1,891 | 3,520 | 5,261 | 4,455 | |||||||||
89 | 118 | 220 | 228 | |||||||||
207 | 274 | 471 | 516 | |||||||||
40 | 57 | 109 | 120 | |||||||||
8 | 7 | 15 | 12 | |||||||||
611 | 1,228 | 1,262 | 2,079 | |||||||||
31 | 36 | 66 | 62 | |||||||||
3 | - | 3 | - | |||||||||
376 | 451 | 766 | 860 | |||||||||
9 | 8 | 12 | 31 | |||||||||
1,374 | 2,179 | 2,924 | 3,908 | |||||||||
517 | 1,341 | 2,337 | 547 | |||||||||
Interest expense Other income
(22)
23
(36) | (59) |
9 | 33 |
(68)
25
Total other income (expense) | 1 | (27) | (26) | (43) | |||||||||
Income before income taxes | 518 | 1,314 | 2,311 | 504 | |||||||||
Income tax expense | 127 | 77 | 531 | 31 | |||||||||
Net income available to common | $ | 391 | $ | 1,237 | $ | 1,780 | $ | 473 | |||||
stockholders | |||||||||||||
Earnings per common share:
Basic
Diluted
Weighted average common shares outstanding (in thousands):
$ | 2.93 | $ | 9.75 | $ | 13.27 | $ | 3.82 | ||
$ | 2.73 | $ | 8.27 | $ | 12.36 | $ | 3.25 | ||
Basic Diluted
133,514
143,267
126,814 | 134,125 |
149,532 | 144,007 |
123,826
145,534
3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
($ in millions)
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization
Deferred income tax expense
Derivative (gains) losses, net
Cash receipts (payments) on derivative settlements, net
Share-based compensation
Gains on sales of assets
Exploration
Other
Changes in assets and liabilities
Net cash provided by operating activities
Cash flows from investing activities:
Capital expenditures
Business combination, net
Contributions to investments
Proceeds from divestitures of property and equipment
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Proceeds from New Credit Facility
Payments on New Credit Facility
Proceeds from Exit Credit Facility
Payments on Exit Credit Facility
Funds held for transition services
Proceeds from warrant exercise
Cash paid to repurchase and retire common stock
Cash paid for common stock dividends
Net cash used in financing activities
Net increase (decrease) in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash, beginning of period
Cash, cash equivalents and restricted cash, end of period
Cash and cash equivalents
Restricted cash
Total cash, cash equivalents and restricted cash
Three | Three | |||||||||||||
Months | Months | Six Months | Six Months | |||||||||||
Ended | Ended | Ended | Ended | |||||||||||
June 30, 2023 | June 30, 2022 | June 30, 2023 | June 30, 2022 | |||||||||||
$ | 391 | $ | 1,237 | $ | 1,780 | $ | 473 | |||||||
376 | 451 | 766 | 860 | |||||||||||
21 | - | 399 | - | |||||||||||
(159) | 514 | (1,089) | 2,639 | |||||||||||
236 | (1,043) | (49) | (1,611) | |||||||||||
9 | 6 | 16 | 10 | |||||||||||
(472) | (21) | (807) | (300) | |||||||||||
5 | 6 | 8 | 10 | |||||||||||
12 | 13 | 21 | 5 | |||||||||||
96 | (254) | 359 | (324) | |||||||||||
515 | 909 | 1,404 | 1,762 | |||||||||||
(530) | (415) | (1,027) | (759) | |||||||||||
- | - | - | (2,006) | |||||||||||
(49) | - | (88) | - | |||||||||||
1,032 | - | 1,963 | 403 | |||||||||||
453 | (415) | 848 | (2,362) | |||||||||||
125 | - | 1,125 | - | |||||||||||
(125) | - | (2,175) | - | |||||||||||
- | 2,985 | - | 4,550 | |||||||||||
- | (2,710) | - | (3,775) | |||||||||||
97 | - | 97 | - | |||||||||||
- | 2 | - | 3 | |||||||||||
(127) | (475) | (181) | (558) | |||||||||||
(160) | (298) | (335) | (508) | |||||||||||
(190) | (496) | (1,469) | (288) | |||||||||||
778 | (2) | 783 | (888) | |||||||||||
197 | 28 | 192 | 914 | |||||||||||
$ | 975 | $ | 26 | $ | 975 | $ | 26 | |||||||
$ | 903 | $ | 17 | $ | 903 | $ | 17 | |||||||
72 | 9 | 72 | 9 | |||||||||||
$ | 975 | $ | 26 | $ | 975 | $ | 26 | |||||||
4
NATURAL GAS, OIL AND NGL PRODUCTION AND AVERAGE SALES PRICES (unaudited)
Three Months Ended June 30, 2023
Marcellus
Haynesville
Eagle Ford
Total
Natural Gas | Oil |
MMcf | $/Mcf | MBbl | $/Bbl |
per day | per day | ||
1,830 | 1.51 | - | - |
1,590 | 1.77 | - | - |
85 | 2.32 | 15 | 76.39 |
3,505 | 1.65 | 15 | 76.39 |
NGL
MBbl | $/Bbl | |||||
per day | ||||||
- | - | |||||
- | - | |||||
10 | 23.67 | |||||
10 | 23.67 | |||||
Total | |
MMcfe | $/Mcfe |
per day | |
1,830 | 1.51 |
1,590 | 1.77 |
233 | 6.73 |
3,653 | 1.97 |
Average NYMEX Price
Average Realized Price (including realized derivatives)
2.1073.78
2.36 | 84.58 | 23.67 | 2.67 |
Three Months Ended June 30, 2022
Marcellus
Haynesville
Eagle Ford
Total
Natural Gas | Oil |
MMcf | $/Mcf | MBbl | $/Bbl |
per day | per day | ||
1,957 | 6.46 | - | - |
1,643 | 6.60 | - | - |
130 | 7.23 | 50 | 111.01 |
3,730 | 6.55 | 50 | 111.01 |
NGL
MBbl | $/Bbl | |||||
per day | ||||||
- | - | |||||
- | - | |||||
16 | 42.56 | |||||
16 | 42.56 | |||||
Total | |
MMcfe | $/Mcfe |
per day | |
1,957 | 6.46 |
1,643 | 6.60 |
525 | 13.63 |
4,125 | 7.43 |
Average NYMEX Price
Average Realized Price (including realized derivatives)
Marcellus
Haynesville
Eagle Ford
Total
Average NYMEX Price
Average Realized Price (including realized derivatives)
7.17 | 108.41 | |||||||||
4.03 | 69.46 | 42.56 | 4.65 | |||||||
Six Months Ended June 30, 2023 | ||||||||||
Natural Gas | Oil | NGL | Total |
MMcf | $/Mcf | MBbl | $/Bbl | MBbl | $/Bbl | MMcfe | $/Mcfe |
per day | per day | per day | per day | ||||
1,901 | 2.52 | - | - | - | - | 1,901 | 2.52 |
1,570 | 2.32 | - | - | - | - | 1,570 | 2.32 |
106 | 2.11 | 34 | 76.72 | 13 | 25.54 | 389 | 8.19 |
3,577 | 2.42 | 34 | 76.72 | 13 | 25.54 | 3,860 | 3.01 |
2.76 | 74.96 | ||||||||||
2.55 | 70.67 | 25.54 | 3.08 | ||||||||
Six Months Ended June 30, 2022 | |||||||||||
Natural Gas | Oil | NGL | Total | ||||||||
Marcellus
Haynesville
Eagle Ford
Powder River Basin
Total
MMcf
per day
1,706
1,634
129
20
3,489
$/Mcf | MBbl |
per day | |
5.70 | - |
5.54 | - |
5.65 51
5.45 4
5.62 55
$/Bbl
-
-
102.84
95.18
102.30
MBbl
per day
-
-
16
1
17
$/Bbl
-
-
41.84
53.96
42.82
MMcfe | $/Mcfe |
per day | |
1,706 | 5.70 |
1,634 | 5.54 |
531 | 12.53 |
51 | 10.66 |
3,922 | 6.62 |
Average NYMEX Price
Average Realized Price (including realized derivatives)
6.06 | 101.35 | ||||
3.59 | 67.38 | 42.82 | 4.32 | ||
5
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Chesapeake Energy Corporation published this content on 01 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2023 20:17:12 UTC.