Page 51

Oil, Natural Gas and NGL Sales 2018 Oil Natural gas NGL Oil, natural gas and NGL sales

$ 2,201 2,486 502 $ 5,189

Years Ended December 31, change 2017 change 2016 ($ in millions) 32% $ 1,668 23% $ 1,351 3% 2,422 12% 2,155 4% 484 34% 360 13% $ 4,574 18% $ 3,866

2018 vs. 2017. The increase in the price received per boe in 2018 resulted in an $836 million increase in revenues, and decreased sales volumes resulted in a $221 million decrease in revenues, for a total net increase in revenues of $615 million. 2017 vs. 2016. The increase in the price received per boe in 2017 resulted in a $1.250 billion increase in revenues, and decreased sales volumes resulted in a $542 million decrease in revenues, for a total net increase in revenues of $708 million. See Note 7 of the notes to our consolidated financial statements included in Item 8 of this report for a complete discussion of oil, natural gas and NGL sales. Oil, Natural Gas and NGL Derivatives Years Ended December 31, 2018 2017 2016 ($ in millions) $ (321) $ 70 $ 97 445 (134) (318) 124 (64) (221)

Oil derivatives – realized gains (losses) Oil derivatives – unrealized gains (losses) Total gains (losses) on oil derivatives Natural gas derivatives – realized gains (losses) Natural gas derivatives – unrealized gains (losses) Total gains (losses) on natural gas derivatives

7 (154) (147)

NGL derivatives – realized gains (losses) NGL derivatives – unrealized gains (losses) Total gains (losses) on NGL derivatives Total gains (losses) on oil, natural gas and NGL derivatives

$

(13) 2 (11) (34) $

(9) 489 480

151 (500) (349)

(4) (1) (5) 411

(8) — (8) (578)

$

See Note 13 of the notes to our consolidated financial statements included in Item 8 of this report for a complete discussion of our derivative activity. Marketing Revenues and Expenses

2018 Marketing revenues Marketing expenses Marketing gross margin

$ 5,076 5,158 $ (82)

48

Years Ended December 31, change 2017 change 2016 ($ in millions) 13% $ 4,511 (2)% $ 4,584 12% 4,598 (4)% 4,778 6% $ (87) 55 % $ (194)

Profile for Chesapeake Energy

2018 Annual Report  

2018 Annual Report