2016 KEY ACHIEVEMENTS TO DATE Portfolio strength and operational efficiencies continue to deliver Raised production guidance while reiterating capex guidance range despite asset divestitures of 35,000 boe/d; portfolio continues to…
CHESAPEAKES FOCUS IN 2016 WHAT WE PLAN TO DO 2016 Plan 2016 Progress to Date Reduce capital budget by 50% Raised 2016 production guidance and reiterated Maximize 10% reduction in LOE/boe capex guidance Liquidity 15% reduction in…
2Q16 RESERVE VALUE WALK SEC VS. NYMEX PRICING 12 2.2 11.1 8.0 billion 10 Uplift in reserve value at NYMEX 5.8 pricing vs. 6/30/16 SEC valuation 8 Present Value (B) Significant leverage to 6 61% PDP natural gas pricing…
38% REDUCTION IN 2017 MATURING/PUTTABLE DEBT 3,500 3,091 (2) From 9/30/2015 through 6/30/2016, reduced 2017 maturing/puttable debt obligations by 3,000 Available Liquidity 830mm 2,500 2,210 2,000 730mm Total incremental…
CONTINUOUS IMPROVEMENT OF CASH COSTS Quarterly Cash Costs (/boe) (1) Plan to reduce G&A by 15% 5.75 5.40 and LOE by 10% in 2016 4.87 4.64 4.14 4.07 Progress being made on both fronts in early 2016 1Q'15 2Q'15 3Q'15 4Q'15 1Q'16…
SUBSTANTIAL ASSET PORTFOLIO SIGNIFICANT VALUE IN DEVELOPED AND UNDEVELOPED ACREAGE Powder River Basin 16 mboe/d net (1) Spud: 0 / TIL: 5 Marcellus Shale 134 mboe/d net (1) Spud: 0-5 / TIL: 20 Utica Shale (2) 146 mboe/d net (1)…
HAYNESVILLE SHALE GAME CHANGING SHIFT IN ECONOMICS CA 1H CA 2H Completions optimization and extended laterals 38 MMcfd & 7,450 psi; 23 MMcfd & 7,400 psi; 25 psi/day drawdown 1,600 lbs/ft proppant 3,000 lbs/ft proppant…
HAYNESVILLE SHALE GAME CHANGING WELL PERFORMANCE Extended laterals with modern completions delivering exceptional returns CA 1H (3,000 lbs/ft) - 38 MMcfd 40,000 8,000 35,000 7,000 30,000 PCK 1H (2,700 lbs/ft) - 31 MMcfd…
HAYNESVILLE SHALE FULL-FIELD TRANSFORMATION Historical Haynesville Go-Forward Haynesville Leading edge well design increases EUR/Lateral Ft. EUR/Lateral Ft. field-wide productivity Majority of the play now performs as well as the…
EAGLE FORD SHALE CAPITAL EFFICIENCY DRIVING COMPETITIVE RETURNS Lateral Length (2) 12,000 Outstanding well performance to 10,500 Lateral Length (ft.) 10,000 9,000 9,300 date for extended lateral program 8,000 6,500 Per-foot…
MID-CONTINENT TREMENDOUS GROWTH INVENTORY Recent exploration success provides additional inventory CHK Acreage 850 Inventory locations above 20% ROR (1) 15+ Different formations currently being appraised 1,500,000…
CONTINUE TO DELIVER IN 2016 730mm incremental liquidity generated through proactive liability management (1) 1.0 billion in proceeds from asset divestitures YTD; Year- end gross proceeds expected to be in excess of 2 billion…
APPENDIX 2Q'16 Earnings 15
MATURITY PROFILE PROACTIVE LIABILITY MANAGEMENT Debt Reduction (1) 893 Unsecured Notes (2) 3.1 billion Debt principal removed from books in 2015 and 2016 as of 6/30/16 2,425 2nd Lien Notes Market Value (3) 830 1,070…
RECONCILIATION OF PV-9 AND PV-10 TO STANDARDIZED MEASURE ( IN MILLIONS; UNAUDITED) PV-9 is a non-GAAP metric used to determine the value of collateral under our credit facility. PV-10 is a non-GAAP metric used by the industry,…
CORPORATE INFORMATION HEADQUARTERS PUBLICLY TRADED SECURITIES CUSIP TICKER 6.25% Senior Notes due 2017 027393390 N/A 6100 N. Western Avenue Oklahoma City, OK 73118 6.50% Senior Notes due 2017 165167BS5 CHK17 WEBSITE: www.chk.com 7.25%…
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