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Chesapeake Energy Corporation Reports Financial And Operational Results For The 2012 Third Quarter

Key Operational and Financial Statistics Summarized

The table below summarizes Chesapeake’s key results during the 2012 third quarter and compares them to results during the 2012 second quarter and the 2011 third quarter.

  Three Months Ended
9/30/12   6/30/12   9/30/11
Average daily production (in mmcfe) (a) 4,142 3,808 3,329
Natural gas equivalent production (in bcfe) 381 347 306
Natural gas equivalent realized price ($/mcfe) (b) 4.04 3.77 5.78
Oil production (in mbbls) 8,996 7,325 4,589
Average realized oil price ($/bbl) (b) 90.79 91.58 82.47
Oil as % of total production 14 13 9
NGL production (in mbbls) 4,130 4,525 4,080
Average realized NGL price ($/bbl) (b) 31.22 25.94 41.16
NGL as % of total production 7 8 8
Liquids as % of realized revenue (c) 61 60 31
Liquids as % of unhedged revenue (c) 63 70 40
Natural gas production (in bcf) 302 275 254
Average realized natural gas price ($/mcf) (b) 1.97 1.88 4.82
Natural gas as % of total production 79 79 83
Natural gas as % of realized revenue 39 40 69
Natural gas as % of unhedged revenue 37 30 60
Marketing, gathering and compression net margin ($/mcfe) (d) 0.11 0.05 0.10
Oilfield services net margin ($/mcfe) (d) 0.09 0.14 0.11
Production expenses ($/mcfe) (0.84 ) (0.97 ) (0.92 )
Production taxes ($/mcfe) (0.14 ) (0.12 ) (0.16 )
General and administrative costs ($/mcfe) (e) (0.34 ) (0.39 ) (0.41 )
Stock-based compensation ($/mcfe) (0.05 ) (0.06 ) (0.08 )
DD&A of natural gas and liquids properties ($/mcfe) (f) (2.00 ) (1.70 ) (1.38 )
D&A of other assets ($/mcfe) (g) (0.17 ) (0.24 ) (0.24 )
Interest expense ($/mcfe) (b) (0.10 ) (0.06 ) (0.01 )
Operating cash flow ($ in millions) (h) 1,118 895 1,409
Operating cash flow ($/mcfe) 2.93 2.58 4.60
Adjusted ebitda ($ in millions) (i) 1,021 803 1,385
Adjusted ebitda ($/mcfe) 2.68 2.32 4.52
Net income (loss) to common stockholders ($ in millions) (2,055 ) 929 879
Earnings (loss) per share – diluted ($) (3.19 ) 1.29 1.23
Adjusted net income to common stockholders ($ in millions) (j) 33 3 496
Adjusted earnings per share – diluted ($) 0.10 0.06 0.72
 

See footnotes on the following page

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