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Basis of Presentation and Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2017
Accounting Policies [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments, Condensed Consolidated Income Statement
 
 
Three Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Comprehensive loss
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
Comprehensive loss attributable to Chesapeake
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Comprehensive loss
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)
Comprehensive loss attributable to Chesapeake
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Depreciation, depletion and amortization
 
$
594

 
$
4

 
$
598

Impairment of oil and natural gas properties
 
$
1,898

 
$
169

 
$
2,067

Provision for legal contingencies
 
$
104

 
$
—

 
$
104

Net cash used in operating activities
 
$
(326
)
 
$
—

 
$
(326
)
These revisions have been reflected in the comparative 2016 condensed consolidated financial statements presented herein. See Evaluation of Disclosure Controls and Procedures in Item 4 of this Form 10-Q. The following table reconciles the amounts as previously reported in the applicable financial statement to the corresponding revised amounts:
 
 
Three Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions except per share data)
Provision for legal contingencies
 
$
82

 
$
(11
)
 
$
71

Oil, natural gas and NGL depreciation, depletion and amortization
 
$
265

 
$
12

 
$
277

Impairment of oil and natural gas properties
 
$
1,045

 
$
25

 
$
1,070

Total operating expenses
 
$
3,379

 
$
26

 
$
3,405

Loss from operations
 
$
(1,757
)
 
$
(26
)
 
$
(1,783
)
Loss before income taxes
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Net loss
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Net loss attributable to Chesapeake
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Net loss available to common stockholders
 
$
(1,792
)
 
$
(26
)
 
$
(1,818
)
Earnings (loss) per common share basic
 
$
(2.48
)
 
$
(0.03
)
 
$
(2.51
)
Earnings (loss) per common share diluted
 
$
(2.48
)
 
$
(0.03
)
 
$
(2.51
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions except per share data)
Provision for legal contingencies
 
$
104

 
$
—

 
$
104

Oil, natural gas and NGL depreciation, depletion and amortization
 
$
536

 
$
4

 
$
540

Impairment of oil and natural gas properties
 
$
1,898

 
$
169

 
$
2,067

Total operating expenses
 
$
6,284

 
$
173

 
$
6,457

Loss from operations
 
$
(2,709
)
 
$
(173
)
 
$
(2,882
)
Loss before income taxes
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Net loss attributable to Chesapeake
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Net loss available to common stockholders
 
$
(2,756
)
 
$
(173
)
 
$
(2,929
)
Earnings (loss) per common share basic
 
$
(3.97
)
 
$
(0.24
)
 
$
(4.21
)
Earnings (loss) per common share diluted
 
$
(3.97
)
 
$
(0.24
)
 
$
(4.21
)
 
 
Three Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Comprehensive loss
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
Comprehensive loss attributable to Chesapeake
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Comprehensive loss
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)
Comprehensive loss attributable to Chesapeake
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)

 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Depreciation, depletion and amortization
 
$
594

 
$
4

 
$
598

Impairment of oil and natural gas properties
 
$
1,898

 
$
169

 
$
2,067

Provision for legal contingencies
 
$
104

 
$
—

 
$
104

Net cash used in operating activities
 
$
(326
)
 
$
—

 
$
(326
)
Schedule of Error Corrections and Prior Period Adjustments, Condensed Consolidated Statements of Comprehensive Income (Loss)
 
 
Three Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Comprehensive loss
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
Comprehensive loss attributable to Chesapeake
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Comprehensive loss
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)
Comprehensive loss attributable to Chesapeake
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Depreciation, depletion and amortization
 
$
594

 
$
4

 
$
598

Impairment of oil and natural gas properties
 
$
1,898

 
$
169

 
$
2,067

Provision for legal contingencies
 
$
104

 
$
—

 
$
104

Net cash used in operating activities
 
$
(326
)
 
$
—

 
$
(326
)
These revisions have been reflected in the comparative 2016 condensed consolidated financial statements presented herein. See Evaluation of Disclosure Controls and Procedures in Item 4 of this Form 10-Q. The following table reconciles the amounts as previously reported in the applicable financial statement to the corresponding revised amounts:
 
 
Three Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions except per share data)
Provision for legal contingencies
 
$
82

 
$
(11
)
 
$
71

Oil, natural gas and NGL depreciation, depletion and amortization
 
$
265

 
$
12

 
$
277

Impairment of oil and natural gas properties
 
$
1,045

 
$
25

 
$
1,070

Total operating expenses
 
$
3,379

 
$
26

 
$
3,405

Loss from operations
 
$
(1,757
)
 
$
(26
)
 
$
(1,783
)
Loss before income taxes
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Net loss
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Net loss attributable to Chesapeake
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Net loss available to common stockholders
 
$
(1,792
)
 
$
(26
)
 
$
(1,818
)
Earnings (loss) per common share basic
 
$
(2.48
)
 
$
(0.03
)
 
$
(2.51
)
Earnings (loss) per common share diluted
 
$
(2.48
)
 
$
(0.03
)
 
$
(2.51
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions except per share data)
Provision for legal contingencies
 
$
104

 
$
—

 
$
104

Oil, natural gas and NGL depreciation, depletion and amortization
 
$
536

 
$
4

 
$
540

Impairment of oil and natural gas properties
 
$
1,898

 
$
169

 
$
2,067

Total operating expenses
 
$
6,284

 
$
173

 
$
6,457

Loss from operations
 
$
(2,709
)
 
$
(173
)
 
$
(2,882
)
Loss before income taxes
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Net loss attributable to Chesapeake
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Net loss available to common stockholders
 
$
(2,756
)
 
$
(173
)
 
$
(2,929
)
Earnings (loss) per common share basic
 
$
(3.97
)
 
$
(0.24
)
 
$
(4.21
)
Earnings (loss) per common share diluted
 
$
(3.97
)
 
$
(0.24
)
 
$
(4.21
)
 
 
Three Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Comprehensive loss
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
Comprehensive loss attributable to Chesapeake
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Comprehensive loss
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)
Comprehensive loss attributable to Chesapeake
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)

 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Depreciation, depletion and amortization
 
$
594

 
$
4

 
$
598

Impairment of oil and natural gas properties
 
$
1,898

 
$
169

 
$
2,067

Provision for legal contingencies
 
$
104

 
$
—

 
$
104

Net cash used in operating activities
 
$
(326
)
 
$
—

 
$
(326
)
Schedule of Error Corrections and Prior Period Adjustments, Condensed Consolidated Statements of Cash Flows
 
 
Three Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Comprehensive loss
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
Comprehensive loss attributable to Chesapeake
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Comprehensive loss
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)
Comprehensive loss attributable to Chesapeake
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Depreciation, depletion and amortization
 
$
594

 
$
4

 
$
598

Impairment of oil and natural gas properties
 
$
1,898

 
$
169

 
$
2,067

Provision for legal contingencies
 
$
104

 
$
—

 
$
104

Net cash used in operating activities
 
$
(326
)
 
$
—

 
$
(326
)
These revisions have been reflected in the comparative 2016 condensed consolidated financial statements presented herein. See Evaluation of Disclosure Controls and Procedures in Item 4 of this Form 10-Q. The following table reconciles the amounts as previously reported in the applicable financial statement to the corresponding revised amounts:
 
 
Three Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions except per share data)
Provision for legal contingencies
 
$
82

 
$
(11
)
 
$
71

Oil, natural gas and NGL depreciation, depletion and amortization
 
$
265

 
$
12

 
$
277

Impairment of oil and natural gas properties
 
$
1,045

 
$
25

 
$
1,070

Total operating expenses
 
$
3,379

 
$
26

 
$
3,405

Loss from operations
 
$
(1,757
)
 
$
(26
)
 
$
(1,783
)
Loss before income taxes
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Net loss
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Net loss attributable to Chesapeake
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Net loss available to common stockholders
 
$
(1,792
)
 
$
(26
)
 
$
(1,818
)
Earnings (loss) per common share basic
 
$
(2.48
)
 
$
(0.03
)
 
$
(2.51
)
Earnings (loss) per common share diluted
 
$
(2.48
)
 
$
(0.03
)
 
$
(2.51
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions except per share data)
Provision for legal contingencies
 
$
104

 
$
—

 
$
104

Oil, natural gas and NGL depreciation, depletion and amortization
 
$
536

 
$
4

 
$
540

Impairment of oil and natural gas properties
 
$
1,898

 
$
169

 
$
2,067

Total operating expenses
 
$
6,284

 
$
173

 
$
6,457

Loss from operations
 
$
(2,709
)
 
$
(173
)
 
$
(2,882
)
Loss before income taxes
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Net loss attributable to Chesapeake
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Net loss available to common stockholders
 
$
(2,756
)
 
$
(173
)
 
$
(2,929
)
Earnings (loss) per common share basic
 
$
(3.97
)
 
$
(0.24
)
 
$
(4.21
)
Earnings (loss) per common share diluted
 
$
(3.97
)
 
$
(0.24
)
 
$
(4.21
)
 
 
Three Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(1,750
)
 
$
(26
)
 
$
(1,776
)
Comprehensive loss
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
Comprehensive loss attributable to Chesapeake
 
$
(1,755
)
 
$
(26
)
 
$
(1,781
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME (LOSS)
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Comprehensive loss
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)
Comprehensive loss attributable to Chesapeake
 
$
(2,676
)
 
$
(173
)
 
$
(2,849
)

 
 
Six Months Ended June 30, 2016
CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS
 
As Previously
Reported
 
Revision
Adjustment
 
As
Revised
 
 
($ in millions)
Net loss
 
$
(2,671
)
 
$
(173
)
 
$
(2,844
)
Depreciation, depletion and amortization
 
$
594

 
$
4

 
$
598

Impairment of oil and natural gas properties
 
$
1,898

 
$
169

 
$
2,067

Provision for legal contingencies
 
$
104

 
$
—

 
$
104

Net cash used in operating activities
 
$
(326
)
 
$
—

 
$
(326
)