CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUES:
Natural gas, oil and NGL	$ 2,341	$ 1,586	$ 5,812	$ 5,444
Marketing, gathering and compression	3,362	3,032	9,543	6,871
Oilfield services	0	249	546	650
Total Revenues	5,703	4,867	15,901	12,965
OPERATING EXPENSES:
Natural gas, oil and NGL production	298	282	868	877
Production taxes	62	62	185	173
Marketing, gathering and compression	3,369	3,009	9,515	6,781
Oilfield services	0	211	431	543
General and administrative	60	120	229	336
Restructuring and other termination costs	(14)	63	12	203
Provision for legal contingencies	100	0	100	0
Natural gas, oil and NGL depreciation, depletion and amortization	688	652	1,977	1,945
Depreciation and amortization of other assets	37	79	194	234
Impairments of fixed assets and other	15	85	75	343
Net gains on sales of fixed assets	(86)	(132)	(201)	(290)
Total Operating Expenses	4,529	4,431	13,385	11,145
INCOME FROM OPERATIONS	1,174	436	2,516	1,820
OTHER INCOME (EXPENSE):
Interest expense	(17)	(40)	(82)	(164)
Losses on investments	(27)	(22)	(72)	(36)
Net gain (loss) on sales of investments	0	3	67	(7)
Losses on purchases of debt	0	0	(195)	(70)
Other income (expense)	(1)	10	12	18
Total Other Expense	(45)	(49)	(270)	(259)
INCOME BEFORE INCOME TAXES	1,129	387	2,246	1,561
INCOME TAX EXPENSE:
Current income taxes	2	7	10	9
Deferred income taxes	435	140	849	585
Total Income Tax Expense	437	147	859	594
NET INCOME	692	240	1,387	967
Net income attributable to noncontrolling interests	(30)	(38)	(110)	(127)
NET INCOME ATTRIBUTABLE TO CHESAPEAKE	662	202	1,277	840
Preferred stock dividends	(43)	(43)	(128)	(128)
Redemption of preferred shares of a subsidiary	(447)	0	(447)	(69)
Earnings allocated to participating securities	(3)	(3)	(15)	(14)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	$ 169	$ 156	$ 687	$ 629
EARNINGS PER COMMON SHARE:
Earnings Per Share, Basic	$ 0.26	$ 0.24	$ 1.04	$ 0.96
Earnings Per Share, Diluted	$ 0.26	$ 0.24	$ 1.04	$ 0.96
CASH DIVIDEND DECLARED PER COMMON SHARE	$ 0.0875	$ 0.0875	$ 0.2625	$ 0.2625
WEIGHTED AVERAGE COMMON AND COMMON EQUIVALENT SHARES OUTSTANDING (in millions):
Weighted Average Number of Shares Outstanding, Basic	660	656	659	654
Weighted Average Number of Shares Outstanding, Diluted	660	656	659	654