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The following table reflects the proceeds received from issuances of debt in 2015, 2014 and 2013. See Note 3 of the notes to our consolidated financial statements included in Item 8 of this report for further discussion.

Senior notes(a) ................................ Term loans(a) ................................... Total .......................................

Years Ended December 31, 2015 2014 2013 Principal Principal Principal Amount Amount Amount of Debt Net of Debt Net of Debt Net Issued Proceeds Issued Proceeds Issued Proceeds ($ in millions) — $ $ — $ 3,500 $ 3,460 $ 2,300 $ 2,274 — — 400 394 — — — $ $ — $ 3,900 $ 3,854 $ 2,300 $ 2,274

___________________________________________ (a)

Our 2015 debt exchange of Existing Notes for Second Lien Notes did not result in any additional debt issued or proceeds received. 2014 amounts include debt issued in connection with the spin-off of our oilfield services business. All deferred charges and debt balances related to the spin-off were removed from our consolidated balance sheet as of June 30, 2014. See Note 13 of the notes to our consolidated financial statements included in Item 8 of this report for further discussion of the spin-off.

We currently plan to use cash flow from operations, cash on hand and our revolving credit facility to fund our capital expenditures during 2016. We expect to generate additional liquidity with proceeds from potential sales of assets that we have determined are non-core or do not fit our long-term plans. Prior to June 2014, we also utilized a $500 million oilfield services credit facility. This facility was terminated in June 2014 in connection with the spin-off of our oilfield services business. See Note 13 of the notes to our consolidated financial statements included in Item 8 of this report for further discussion of the spin-off. Under our revolving credit facilities, we had no borrowings or repayments in 2015, borrowed $7.406 billion and repaid $7.788 billion in 2014 and borrowed $7.669 billion and repaid $7.682 billion in 2013.

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Profile for Chesapeake Energy

2015 Annual Report  

2015 Annual Report