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Oil and Natural Gas Property Transactions (Tables)
 3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
Schedule of preliminary allocation of the total purchase price
We have accounted for the Marcellus Acquisition as a business combination, using the acquisition method. The following table represents the preliminary allocation of the total purchase price to the identifiable assets acquired and the liabilities assumed based on the fair values as of the acquisition date. Certain data necessary to complete the purchase price allocation is not yet available, and includes, but is not limited to, valuation of pre-acquisition contingencies and final appraisals of assets acquired and liabilities assumed. We expect to complete the purchase price allocation during the 12-month period following the acquisition date, during which time the value of the assets and liabilities may be revised as appropriate.
Preliminary
Purchase Price Allocation
Consideration:
Cash
$2,000 
Fair value of Chesapeake’s common stock issued in the merger764 
Working capital adjustments6 
Total consideration
$2,770 
Fair Value of Liabilities Assumed:
Current liabilities
$420 
Other long-term liabilities
129 
Amounts attributable to liabilities assumed
$549 
Fair Value of Assets Acquired:
Cash and cash equivalents
$— 
Other current assets
218 
Proved oil and natural gas properties
2,309 
Unproved properties
788 
Other property and equipment
1 
Other long-term assets
3 
Amounts attributable to assets acquired
$3,319 
Total identifiable net assets
$2,770 
We have accounted for the Vine Acquisition as a business combination, using the acquisition method. The following table represents the preliminary allocation of the total purchase price of Vine to the identifiable assets acquired and the liabilities assumed based on the fair values as of the acquisition date. Certain data necessary to complete the purchase price allocation is not yet available, and includes, but is not limited to, valuation of pre-acquisition contingencies, and final appraisals of assets acquired and liabilities assumed. We expect to complete the purchase price allocation during the 12-month period following the acquisition date, during which time the value of the assets and liabilities may be revised as appropriate.
Preliminary
Purchase Price Allocation
Consideration:
Cash
$253 
Fair value of Chesapeake’s common stock issued in the merger1,231 
Restricted stock unit replacement awards6 
Total consideration
$1,490 
Fair Value of Liabilities Assumed:
Current liabilities
$765 
Long-term debt
1,021 
Deferred tax liabilities
49 
Other long-term liabilities
272 
Amounts attributable to liabilities assumed
$2,107 
Fair Value of Assets Acquired:
Cash and cash equivalents
$59 
Other current assets
206 
Proved oil and natural gas properties
2,181 
Unproved properties
1,118 
Other property and equipment
1 
Other long-term assets
32 
Amounts attributable to assets acquired
$3,597 
Total identifiable net assets
$1,490 
Schedule of pro forma financial information The information below reflects pro forma adjustments based on available information and certain assumptions that we believe are reasonable, including the estimated tax impact of the pro forma adjustments.
Successor
Period from January 1, 2022 through March 31, 2022Period from February 10, 2021 through March 31, 2021
Revenues$935 $1,076 
Net income (loss) available to common stockholders$(868)$319 
Earnings per common share:
Basic
$(6.83)$2.53 
Diluted
$(6.83)$2.35