Segment Information (Notes)

3 Months Ended

Mar. 31, 2013

Text Block [Abstract]

Segment Information

Segment Information

In accordance with accounting guidance for disclosures about segments of an enterprise and related information, we have three reportable operating segments. Our exploration and production operating segment, natural gas, oil and NGL marketing, gathering and compression operating segment and oilfield services operating segment are managed separately because of the nature of their products and services. The exploration and production operating segment is responsible for finding and producing natural gas, oil and NGL. The marketing, gathering and compression operating segment is responsible for marketing, gathering and compression of natural gas, oil and NGL primarily from Chesapeake-operated wells. The oilfield services operating segment is responsible for contract drilling, oilfield trucking, oilfield rentals, hydraulic fracturing and other oilfield services operations for both Chesapeake-operated wells and wells operated by third parties.

Management evaluates the performance of our segments based upon income (loss) before income taxes. Revenues from the sale of natural gas, oil and NGL related to Chesapeake’s ownership interests by the marketing, gathering and compression operating segment are reflected as exploration and production revenues. Such amounts totaled $1.7 billion and $1.2 billion for the Current Quarter and the Prior Quarter, respectively. The following table presents selected financial information for Chesapeake’s operating segments.

	Exploration and Production		Marketing, Gathering and Compression			Oilfield Services			Other Operations			Intercompany Eliminations			Consolidated  Total
	($ in millions)
Three Months Ended March 31, 2013:
Revenues	$	1,453	$	3,529		$	538		$	10		$	(2,106	)	$	3,424
Intersegment revenues	—		(1,748		)	(352		)	(6		)	2,106			—
Total revenues	$	1,453	$	1,781		$	186		$	4		$	—		$	3,424
Income (Loss) Before Income Taxes	$	170	$	129		$	22		$	(58	)	$	(98	)	$	165
Three Months Ended March 31, 2012:
Revenues	$	1,068	$	2,392		$	447		$	—		$	(1,488	)	$	2,419
Intersegment revenues	—		(1,176		)	(312		)	—			1,488			—
Total revenues	$	1,068	$	1,216		$	135		$	—		$	—		$	2,419
Income (Loss) Before Income Taxes	$	86	$	66		$	40		$	(100	)	$	(97	)	$	(5	)
As of March 31, 2013:
Total Assets	$	37,756	$	2,499		$	2,190		$	2,526		$	(2,490	)	$	42,481
As of December 31, 2012:
Total Assets	$	37,004	$	2,291		$	2,115		$	2,529		$	(2,328	)	$	41,611