CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
REVENUES:
Oil, natural gas and NGL	$ 1,243	$ 1,469
Marketing	1,246	1,284
Total Revenues	2,489	2,753
OPERATING EXPENSES:
Oil, natural gas and NGL production	147	135
Oil, natural gas and NGL gathering, processing and transportation	356	355
Production taxes	31	22
Marketing	1,268	1,328
General and administrative	72	65
Restructuring and other termination costs	38	0
Provision for legal contingencies, net	5	(2)
Oil, natural gas and NGL depreciation, depletion and amortization	268	197
Depreciation and amortization of other assets	18	21
Other operating expense	0	391
Net losses on sales of fixed assets	8	0
Total Operating Expenses	2,211	2,512
INCOME FROM OPERATIONS	278	241
OTHER INCOME (EXPENSE):
Interest expense	(123)	(95)
Gains on investments	139	0
Losses on purchases or exchanges of debt	0	(7)
Other income	0	3
Total Other Income (Expense)	16	(99)
INCOME BEFORE INCOME TAXES	294	142
Income tax expense	0	1
NET INCOME	294	141
Net income attributable to noncontrolling interests	(1)	(1)
NET INCOME ATTRIBUTABLE TO CHESAPEAKE	293	140
Preferred stock dividends	(23)	(23)
Loss on exchange of preferred stock	0	(41)
Earnings allocated to participating securities	(2)	(1)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	$ 268	$ 75
EARNINGS PER COMMON SHARE:
Earnings per common share, basic (in dollars per share)	$ 0.30	$ 0.08
Earnings per common share, diluted (in dollars per share)	$ 0.29	$ 0.08
WEIGHTED AVERAGE COMMON AND COMMON EQUIVALENT SHARES OUTSTANDING (in millions):
Weighted average common and common equivalent shares outstanding, basic (in shares)	907	906
Weighted average common and common equivalent shares outstanding, diluted (in shares)	1,053	907