Classification: DCL-Internal 2023 3Q EARNINGS OCTOBER 31, 2023
Forward-Looking Statements This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of our ability to generate profits or achieve targeted results in drilling and well operations; 1933…
3Q 2023 Highlights (1) Capital Cash balance Production Adjusted EBITDAX 580mm 357mm 700mm 3.5 bcfe/d low end of quarter guide as of 9/30/23 high end of quarter guide Marcellus: Base dividend 1,367' per day average 0.575…
Our Strategic Pillars Remain Unchanged Superior Capital Returns Most efficient operator, returning more cash to shareholders than domestic gas peers Deep, Attractive Inventory Premium rock, returns, runway with best-in-class…
Advantaged Combination of Gas Scale and Quality Marcellus Reduces company volatility Superior Portfolio Characteristics Underpins return profile Low capital intensity Quality: Premium rock that delivers lowest cost of supply…
Marcellus Continues to Deliver, Primed for Efficient 2024 Purposefully Managing Quarterly Production Drilling Improvements Further Bolster Capital Efficiency mmcf/d Guidance Mid-point Established company record of 1,367 ft/d during…
Sustained Strength in the Haynesville Guidance Mid-point Resilient Quarterly Production Reduced System Pressure Enhances Gas Flow Assurance mmcf/d Actuals 1,590 Integrated planning with midstream partners to leverage 1,549 1,568 4Q…
Spotlight on Service Cost Deflation Realization of savings occurring in 3Q and Illustrative AFE Components and Cost Trends 1H23 compared to 1H24 expectations 4Q as L48 activity bottoms PHASE SUB-CATEGORY % OF AFE TREND Contract…
Meeting Our Commitment to Shareholder Returns 130mm of buybacks Clear Capital Return Track Record in millions completed in 3Q23 830 Annual base dividend 3.1B returned 813 increased from 2.20/sh to shareholders since 2021 406 to…
Continuing Our Path to Investment Grade Debt Maturity Profile in millions, % interest rate De-risked balance sheet Cash held on behalf of 7.15%(2) Cash third parties related to Current Balance with 11% net debt-to-cap(1) divested…
Our Progress to Be LNG Ready Vitol offtake HOA for up to 1 mtpa Growing Exports Will be Significant to U.S. Gas Demand U.S. LNG capacity, bcf/d (1) with JKM linked price exposure, 15-year tenure starting in 2028 Online LNG Under…
Repricing the U.S. Gas Molecule Through LNG LNG Value CHESAPEAKE COUNTERPARTY Chain Natural Gas Producer LNG Facility LNG FOB(1) Buyer LNG DES(1) Buyer LNG ReGas Natural Gas User The Advantage of Our LNG Approach Illustrative…
Continuing to Support Returns with Through-Cycle Hedging Ceiling (/mmbtu) 5.01 4.43 4.54 4.60 4.65 4.84 4.39 4.46 Floor (/mmbtu) 3.54 3.60 3.69 3.70 3.69 3.55 3.36 3.32 70% of Production 0 Hedged Added Since 6 Q2 Earnings…
Maintaining Our Drive for Sustainability Leadership Sustainability Fundamentals Deliver energy to Minimize emissions Invest in low-carbon Transparent disclosures sustain economic from operations solutions with adjacent with measurable…
Managements Guidance as of October 31, 2023(1) Bold / Italicized = updated guidance range Production 3Q23A 4Q23E 2023E Operating Costs (per mcfe of Projected Production) 3Q23A 2023E Total Natural Gas Production (mmcf/d) 3,378 3,315…
3Q 2023 Business Unit Results EAGLE FORD MARCELLUS HAYNESVILLE Rich Gas Production (mmcfe/d, mboe/d) 1,734 1,568 32 Production Expense (/mcf) / (/boe) 0.13 0.31 2.70 Differential to NYMEX (/mcf) / (/bbl) (0.92) (0.40) 0.07…
Hedging Program Reduces Risk, Protects Returns NATURAL GAS ESTIMATED NYMEX GAS SETTLEMENT (mm)(1) SWAPS COLLARS THREE-WAY COLLARS 2.00 2.50 3.50 Date Volume Price Volume Bought Put Sold Call Volume Sold Put Bought Put Sold Call…
Hedged Financial Basis 30% of Marcellus and 60% of Haynesville basis financially (as of 10/26/23) MARCELLUS HAYNESVILLE TRANSPORT SPREAD(1) hedged for RM23 TETCO M3 TGP Z4 300L LEIDY CGT MAINLINE TGT Z1 TETCO M3 Volume Avg. Price…
Marcellus and Haynesville Sale Points Marcellus Sales Points Haynesville Sales Points DEDUCT FROM NYMEX ()(1) MARCELLUS TOTAL PRODUCTION DEDUCT FROM NYMEX ()(1) HAYNESVILLE TOTAL PRODUCTION HISTORICAL CURRENT In Basin 50% Out of…
Classification: DCL-Internal Non-GAAP Financial Measures As a supplement to the financial results prepared in accordance with U.S. GAAP, Chesapeakes quarterly earnings presentations contain certain financial measures that are not…
Reconciliation of Net Income to Adjusted EBITDAX Reconciliation of Net Cash Provided by Operating (Unaudited) Activities to Adjusted EBITDAX (Unaudited) Three Months Ended Three Months Ended Three Months Ended Three Months Ended…
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