CHESAPEAKE ENERGY CORPORATION - SUPPLEMENTAL TABLES

Table of Contents:

Page

Condensed Consolidated Balance Sheets

2

Condensed Consolidated Statements of Operations

3

Condensed Consolidated Statements of Cash Flows

4

Natural Gas, Oil and NGL Production and Average Sales Prices

5

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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Disclaimer

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.