This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Chesapeake Energy Corporation Reports Financial And Operational Results For The 2013 Second Quarter

The company’s natural gas hedging positions as of July 31, 2013 were as follows:

                       

Open Natural Gas Swaps; Gains (Losses) from Closed

Natural Gas Trades and Call Option Premiums

 
      Open

Swaps

(bcf)

    Avg. NYMEX

Price of

Open Swaps

    Forecasted

Natural Gas

Production

(bcf)

    Open Swap

Positions as

a % of

Forecasted

Natural Gas

Production

    Total Gains

(Losses) from

Closed Trades

and Premiums

for Call Options

($ in millions)

    Total Gains

(Losses) from

Closed Trades

and Premiums for

Call Options per

mcf of Forecasted

Natural Gas

Production

Q3 2013 197 $ 3.73 $ 7
Q4 2013     190       3.71                   (3)      
Total Q3-Q4 2013     387     $ 3.72     539     72%     $ 4     $ 0.01
Total 2014     133     $ 4.39                 $ (74)      
Total 2015     0       -                 $ (131)      
Total 2016 – 2022     0       -                 $ (187)      
                       

Purchased Natural Gas Three-Way Collars

 
      Open

Collars

(bcf)

    Avg. NYMEX

Sold Put Price

    Avg. NYMEX

Bought Put Price

    Avg. NYMEX

Ceiling Price

    Forecasted

Natural Gas

Production

(bcf)

    Open Collars as a % of

Forecasted

Natural Gas

Production

 
Q3 2013 18 $ 3.03 $ 3.55 $ 4.03
Q4 2013     18         3.03         3.55         4.03                  
Total Q3-Q4 2013     36       $ 3.03       $ 3.55       $ 4.03       539       7 %
Total 2014     18       $ 3.50       $ 4.00       $ 4.70                  
       

Natural Gas Swaptions

 
    Swaptions

(bcf)

  Avg. NYMEX

Strike Price

  Forecasted

Natural Gas

Production

(bcf)

  Swaptions

as a % of

Forecasted Natural

Gas

Production

 
Total Q3-Q4 2013   0     $ -     539     0 %
Total 2014   12     $ 4.80              
       

Natural Gas Written Call Options

 
    Call Options

(bcf)

  Avg. NYMEX

Strike Price

  Forecasted

Natural Gas

Production

(bcf)

  Call Options

as a % of

Forecasted Natural

Gas

Production

 
Total Q3-Q4 2013   0     $ -     539     0 %
Total 2016 – 2020   193     $ 9.92              
 

Natural Gas Basis Protection Swaps

 
 
    Volume (bcf)   Avg. NYMEX less
 
Q3 2013 11 $ 0.21
Q4 2013   11       0.21
Total Q3-Q4 2013   22     $ 0.21
Total 2014   28     $ 0.32
Total 2015   31     $ 0.34
Total 2016 - 2022   8     $ 1.02
 

The company’s crude oil hedging positions as of July 31, 2013 were as follows:

Open Crude Oil Swaps; Gains (Losses) from Closed

Crude Oil Trades and Call Option Premiums

           
    Open

Swaps

(mbbls)

  Avg. NYMEX

Price of

Open Swaps

  Forecasted

Oil

Production

(mbbls)

  Open Swap

Positions as

a % of

Forecasted

Oil

Production

  Total Gains

(Losses) from

Closed Trades

and Premiums

for Call Options

($ in millions)

  Total Gains

(Losses) from

Closed Trades

and Premiums for

Call Options per

bbl of Forecasted

Oil

Production

 
Q3 2013 8,834 $ 95.68 $ 2
Q4 2013   9,181       95.59                   2        
Total Q3-Q4 2013   18,015     $ 95.64     19,178     94 %   $ 4     $ $0.18
Total 2014   21,358     $ 93.76                 $ (151 )      
Total 2015   693     $ 89.48                 $ 265        
Total 2016 – 2022   0     $ -                 $ 117        
       

Crude Oil Swaptions

 
    Swaptions

(mbbls)

  Avg. NYMEX

Strike Price

  Forecasted

Natural Gas

Production

(mbbls)

  Swaptions

as a % of

Forecasted Natural

Gas

Production

 
Total Q3-Q4 2013   0     $ -     19,178     0 %
Total 2014   2,920     $ 106.69              
Total 2015   2,368     $ 106.61              
       

Crude Oil Written Call Options

 
    Call Options

(mbbls)

  Avg. NYMEX

Strike Price

  Forecasted

Oil

Production

(mbbls)

  Call Options

as a % of

Forecasted Oil

Production

 
Q3 2013 1,975 $ 97.90
Q4 2013   1,975       97.90              
Total Q3-Q4 2013   3,950     $ 97.90     19,178     21 %
Total 2014   14,692     $ 97.22              
Total 2015   24,680     $ 100.45              
Total 2016 – 2017   24,220     $ 100.07              
   

Crude Oil Basis Protection Swaps

 
    Volume (mbbls)   Avg. NYMEX plus
 
Q3 2013 736 $ 10.07
Q4 2013   0       -
Total Q3-Q4 2013   736     $ 10.07




Stock quotes in this article: CHK 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.85 +162.29 1.00%
S&P 500 1,862.31 +19.33 1.05%
NASDAQ 4,086.2250 +52.0640 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs