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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
1 Months Ended 11 Months Ended 12 Months Ended
Feb. 09, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues and other:        
Oil and natural gas derivatives $ (382) $ (1,127) $ 596 $ 5
Gains on sales of assets 5 12 30 43
Total revenues and other 260 5,549 5,240 8,532
Operating expenses:        
Severance and ad valorem taxes 18 158 149 224
General and administrative 21 97 267 315
Separation and other termination costs 22 11 44 12
Depreciation, depletion and amortization 72 919 1,097 2,264
Impairments 0 1 8,535 11
Other operating expense (income), net (12) 84 80 48
Total operating expenses 494 4,611 13,943 8,563
Income (loss) from operations (234) 938 (8,703) (31)
Other income (expense):        
Interest expense (11) (73) (331) (651)
Gains on purchases or exchanges of debt 0 0 65 75
Other income (expense) 2 31 (4) (32)
Reorganization items, net 5,569 0 (796) 0
Total other income (expense) 5,560 (42) (1,066) (608)
Income (loss) before income taxes 5,326 896 (9,769) (639)
Income tax benefit (57) (49) (19) (331)
Net income (loss) 5,383 945 (9,750) (308)
Net loss attributable to noncontrolling interests 0 0 16 0
Net income (loss) attributable to Chesapeake 5,383 945 (9,734) (308)
Preferred stock dividends 0 0 (22) (91)
Loss on exchange of preferred stock 0 0 0 (17)
Net income (loss) available to common stockholders $ 5,383 $ 945 $ (9,756) $ (416)
Earnings (loss) per common share:        
Basic (in usd per share) $ 550.35 $ 9.29 $ (998.26) $ (49.97)
Diluted (in usd per share) $ 534.51 $ 8.12 $ (998.26) $ (49.97)
Weighted average common shares outstanding (in thousands):        
Basic (in shares) 9,781 101,754 9,773 8,325
Diluted (in shares) 10,071 116,341 9,773 8,325
Oil, Natural Gas and NGL        
Revenues and other:        
Revenues $ 398 $ 4,401 $ 2,745 $ 4,517
Marketing        
Revenues and other:        
Revenues 239 2,263 1,869 3,967
Operating expenses:        
Cost of goods and services 237 2,257 1,889 4,003
Product        
Operating expenses:        
Cost of goods and services 32 297 373 520
Service        
Operating expenses:        
Cost of goods and services 102 780 1,082 1,082
Exploration        
Operating expenses:        
Cost of goods and services $ 2 $ 7 $ 427 $ 84