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4Q 2017 Earnings Presentation – Chesapeake Energy Corp

Chesapeake Energy Corp · Feb 22, 2018 · 12 slides

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Slides

  1. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 1
    CHESAPEAKE ENERGY 2017 Q4 EARNINGS February 22, 2018
  2. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 2
    4Q17 FINANCIAL AND OPERATIONAL RESULTS (1) (1) Inclusive of capitalized interest Over 4X higher than 4Q 2016 83% increase over 4Q 2016 Down 24% from 3Q 2017 (2) 9% increase over 3Q 2017 16% increase over 3Q 2017 6%…
  3. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 3
    UPDATE ON RECENT PROGRESS Cash proceeds from divestitures 500 million in asset sales signed in late 2017 and 2018; expected to close in 1H 2018 Represents an EBITDA multiple of 7.1x 74 million in net proceeds from sale of FTSI…
  4. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 4
    WHATS THE IMPACT Sold 23,000 boe/d (25% oil), yet 2018 adjusted production still projected to grow 3% (1) Cost structure reduced by 0.14/boe Interest expense may be reduced by up to 50 million annually Overhead reduction of 70…
  5. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 5
    (1) PREMIER, DIVERSIFIED ASSET BASE MARCELLUS 1 rig POWDER RIVER BASIN 4 rigs 1.60 2.20/mcf Breakeven Acreage 577,000 (86% Held) 4.7 million 25 35/bbl Breakeven Net acres Acreage 275,000 (72% Held) UTICA 2 rigs 1.35 1.80/mcf…
  6. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 6
    Appendix Q4 2017 EARNINGS 7
  7. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 7
    HEDGING POSITION AS OF 2/19/2018 (1) Natural Gas Oil NGL 2018 2018 2018 5% 5% Collars Collars 39.15/47/55/bbl 4% NGL 3.00/3.25/mcf HH WTI Swaps 63% 74% Swaps 3.11/mcf Swaps 52.87/bbl (2) HH WTI 5% Propane Swaps 0.73/gal…
  8. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 8
    DEBT MATURITY PROFILE 2018 OUTLOOK (1) 9.2 billion 7.10% 533 million Senior Notes & Term Loan WACD Revolving Credit Facility 3,000 Revolving Credit Facility Secured 2,500 Unsecured 2,047 Convertibles 2,000 1,868 1,500…
  9. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 9
    ADJUSTED PRODUCTION RECONCILIATION CUMULATIVE IMPACT OF MULTIPLE SALES TRANSACTIONS Production with Divestiture Adjustments (1) 650 600 550 500 450 mboe/d 400 350 300 250 200 (2) 2016 2017 2018…
  10. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 10
    RECONCILIATION OF ADJUSTED EPS CHESAPEAKE ENERGY CORPORATION RECONCILIATION OF ADJUSTED NET INCOME AVAILABLE TO COMMON STOCKHOLDERS ( in millions except per share data) (unaudited) Three Months Ended December 31, 2017 2016…
  11. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 11
    RECONCILIATION OF ADJUSTED EBITDA CHESAPEAKE E NERGY CORPORATION RECONCILIATION OF ADJUSTED EBITDA ( in millions) (unaudited) Three Months Ended Years Ended December 31, December 31, 2017 2016 2017 2016 EBITDA (Non-GAAP) 764…
  12. 4Q 2017 Earnings Presentation – Chesapeake Energy Corp – slide 12
    CORPORATE INFORMATION HEADQUARTERS PUBLICLY TRADED SECURITIES CUSIP TICKER 6100 N. Western Avenue 7.25% Senior Notes due 2018 165167CC9 CHK18A Oklahoma City, OK 73118 3mL + 3.25% Senior Notes due 2019 165167CM7 CHK19 WEBSITE: www.chk.com…

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