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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUES:      
Revenues $ 10,231 $ 9,496 $ 7,872
Revenue from contracts with customers 5,189    
OPERATING EXPENSES:      
Production taxes 124 89 74
General and administrative 280 262 240
Restructuring and other termination costs 38 0 6
Provision for legal contingencies, net 26 (38) 123
Depreciation, depletion and amortization 1,145 995 1,107
Loss on sale of oil and natural gas properties 578 0 0
Impairments 53 5 3,025
Other operating expenses 10 413 365
Total Operating Expenses 9,349 8,357 12,283
INCOME (LOSS) FROM OPERATIONS 882 1,139 (4,411)
OTHER INCOME (EXPENSE):      
Interest expense (487) (426) (296)
Gains (losses) on investments 139 0 (137)
Gains on purchases or exchanges of debt 263 233 236
Other income 70 9 19
Total Other Expense (15) (184) (178)
INCOME (LOSS) BEFORE INCOME TAXES 867 955 (4,589)
Current income taxes 0 (9) (19)
Deferred income taxes (10) 11 (171)
Total Income Tax Expense (Benefit) (10) 2 (190)
NET INCOME (LOSS) 877 953 (4,399)
Net (income) loss attributable to noncontrolling interests (4) (4) 9
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE 873 949 (4,390)
Preferred stock dividends (92) (85) (97)
Loss on exchange of preferred stock 0 (41) (428)
Earnings allocated to participating securities (6) (10) 0
NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS $ 775 $ 813 $ (4,915)
EARNINGS (LOSS) PER COMMON SHARE:      
Basic (in usd per share) $ 0.85 $ 0.90 $ (6.43)
Diluted (in usd per share) $ 0.85 $ 0.90 $ (6.43)
WEIGHTED AVERAGE COMMON AND COMMON EQUIVALENT SHARES OUTSTANDING (in millions):      
Basic (in shares) 909 906 764
Diluted (in shares) 909 906 764
Oil, Natural Gas and NGL [Member]      
REVENUES:      
Revenues $ 5,155 $ 4,985 $ 3,288
Oil, natural gas and NGL production [Member]      
OPERATING EXPENSES:      
Cost of goods and services 539 562 710
Oil, natural gas and NGL gathering, processing and transportation [Member]      
OPERATING EXPENSES:      
Cost of goods and services 1,398 1,471 1,855
Marketing [Member]      
REVENUES:      
Revenue from contracts with customers 5,076 4,511 4,584
OPERATING EXPENSES:      
Cost of goods and services $ 5,158 $ 4,598 $ 4,778