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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 AND OTHER:      
Revenues $ 10,030 $ 10,039 $ 8,705
Gains (losses) on sales of assets (264) 476 626
OPERATING EXPENSES:      
Production taxes 124 89 74
General and administrative 335 333 322
Restructuring and other termination costs 38 0 6
Provision for legal contingencies, net 26 (38) 123
Depreciation, depletion and amortization 1,737 1,697 1,698
Impairments 131 814 563
Other operating expenses 0 416 377
Total Operating Expenses 9,648 10,177 11,961
INCOME (LOSS) FROM OPERATIONS 382 (138) (3,256)
OTHER INCOME (EXPENSE):      
Interest expense (633) (601) (528)
Gains (losses) on investments 139 0 (137)
Gains on purchases or exchanges of debt 263 233 236
Other income 67 6 5
Total Other Expense (164) (362) (424)
INCOME (LOSS) BEFORE INCOME TAXES 218 (500) (3,680)
Current income taxes 0 (9) (19)
Deferred income taxes (10) 11 (171)
Total Income Tax Expense (Benefit) (10) 2 (190)
NET INCOME (LOSS) 228 (502) (3,490)
Net income attributable to noncontrolling interests (2) (3) (3)
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE 226 (505) (3,493)
Preferred stock dividends (92) (85) (97)
Loss on exchange of preferred stock 0 (41) (428)
Earnings allocated to participating securities (1) 0 0
NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS $ 133 $ (631) $ (4,018)
EARNINGS (LOSS) PER COMMON SHARE:      
Basic (in usd per share) $ 0.15 $ (0.70) $ (5.26)
Diluted (in usd per share) $ 0.15 $ (0.70) $ (5.26)
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 AND OTHER:      
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 AND OTHER:      
Revenues 5,076 4,511 4,584
OPERATING EXPENSES:      
Cost of goods and services 5,158 4,598 4,778
Oil, Natural gas and NGL and Marketing [Member]      
REVENUES AND OTHER:      
Revenues 10,231 9,496 7,872
Exploration [Member]      
OPERATING EXPENSES:      
Cost of goods and services 162 235 1,455
Other [Member]      
REVENUES AND OTHER:      
Revenues $ 63 $ 67 $ 207