CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
REVENUES:
Natural gas, oil and NGL	$ 1,704	$ 2,406	$ 3,471	$ 3,858
Marketing, gathering and compression	3,167	2,057	6,182	3,838
Oilfield services	281	212	545	402
Total Revenues	5,152	4,675	10,198	8,098
OPERATING EXPENSES:
Natural gas, oil and NGL production	282	288	570	595
Production taxes	72	59	122	112
Marketing, gathering and compression	3,166	2,028	6,147	3,772
Oilfield services	212	177	431	332
General and administrative	90	106	169	216
Restructuring and other termination costs	33	7	26	140
Natural gas, oil and NGL depreciation, depletion and amortization	661	645	1,288	1,293
Depreciation and amortization of other assets	79	76	157	154
Impairments of fixed assets and other	40	231	60	258
Net gains on sales of fixed assets	(93)	(109)	(115)	(158)
Total Operating Expenses	4,542	3,508	8,855	6,714
INCOME FROM OPERATIONS	610	1,167	1,343	1,384
OTHER INCOME (EXPENSE):
Interest expense	(27)	(104)	(66)	(124)
Earnings (losses) on investments	(24)	23	(45)	(14)
Net gain (loss) on sales of investments	0	(10)	67	(10)
Losses on purchases of debt	(195)	(70)	(195)	(70)
Other income	7	3	13	8
Total Other Expense	(239)	(158)	(226)	(210)
INCOME BEFORE INCOME TAXES	371	1,009	1,117	1,174
INCOME TAX EXPENSE
Current income taxes	5	2	8	3
Deferred income taxes	136	382	413	443
Total Income Tax Expense	141	384	421	446
NET INCOME	230	625	696	728
Net income attributable to noncontrolling interests	(39)	(45)	(80)	(89)
NET INCOME ATTRIBUTABLE TO CHESAPEAKE	191	580	616	639
Preferred stock dividends	(43)	(43)	(86)	(86)
Premium on purchase of preferred shares of a subsidiary	0	(69)	0	(69)
Earnings allocated to participating securities	(3)	(11)	(12)	(11)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	$ 145	$ 457	$ 518	$ 473
EARNINGS PER COMMON SHARE:
Earnings Per Share, Basic	$ 0.22	$ 0.70	$ 0.79	$ 0.72
Earnings Per Share, Diluted	$ 0.22	$ 0.66	$ 0.78	$ 0.72
CASH DIVIDEND DECLARED PER COMMON SHARE	$ 0.0875	$ 0.0875	$ 0.1750	$ 0.1750
WEIGHTED AVERAGE COMMON AND COMMON EQUIVALENT SHARES OUTSTANDING (in millions):
Weighted Average Number of Shares Outstanding, Basic	659	653	658	653
Weighted Average Number of Shares Outstanding, Diluted	659	760	760	653