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As of December 31, 2018, we had the following open oil and natural gas derivative instruments: Weighted Average Price Volume (mmbbl) Oil: Swaps: Short-term Long-term Collars: Short-term Long-term Basis Protection Swaps: Short-term Total Oil

Fixed

Call

Put ($ per bbl)

Fair Value Asset (Liability)

Differential

($ in millions)

10 2

$ $

58.97 68.14

$ $

— —

$ $

— —

$ $

— —

6 2

$ $

— —

$ $

67.75 83.25

$ $

58.00 65.00

$ $

— —

68 30

7

$

$

$

$

6.01

5 260

(bcf) Natural Gas: Swaps: Short-term 447 Long-term 176 Three-Way Collars: 88 Short-term Collars: 55 Short-term Call Options (sold): 22 Short-term 22 Long-term Call Swaptions: Long-term 106 Basis Protection Swaps: 50 Short-term Total Natural Gas

$

($ per mcf)

$ $

2.87 2.75

$ $

— —

$ $

— —

$ $

— —

11 15

$

$

3.10

$

2.50/2.80

$

1

$

$

3.02

$

2.75

$

(3)

$ $

— —

$ $

12.00 12.00

$ $

— —

$ $

— —

— —

$

2.77

$

$

$

(9)

$

$

$

$

(0.56)

— 15 275

Total Commodities Contingent Consideration: Utica Divestiture: Short-term

117 40

$

$

58

$ — $ Total Derivative Asset

— $

7 282

Profile for Chesapeake Energy

2018 Annual Report  

2018 Annual Report