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Chesapeake Energy Corp
May 2012 Investor Presentation
| Jeffrey L. Mobley | Page 2 of 11 |
October 31, 2014
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"Chesapeake Energy Corp"
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We believe this is an excellent series of accomplishments in a very tough year for the industry as natural gas prices declined ~30% We are focused on executing our transformation to a more balanced asset base between liquids and natural gas - (1) Reconciliations of non - GAAP financial measures to comparable GAAP measures appear on pages 35 37 (2) Based on trailing 12 - month average price required by SEC rules 2 Top - tier production growth averaged ~ 3.7 bcfe/d, up 18% YOY and 2% sequentially despite voluntary average daily net curtailments of ~330 mmcf liquids production of ~113,600 bbls/d; up 69% YOY and 7% sequentially Liquids now 19% of total production and 61% of unhedged natural gas and liquids revenue financial performance ~$840 mm of adjusted ebidta (1) ~$ 910 mm of operating cash flow (1) ~$ 95 mm of adjusted net income to common (1) $0.18 of adjusted earnings per fully diluted common share (1) Added net proved reserves of 1.8 tcfe , or 300 mmboe, through the drillbit at a drilling and completion cost on proved properties of only $ 1.19/mcfe ,or $7.14/boe (2) On track to complete expected $11.5 - 14.0 billion of total asset monetizations by year - end P roceeds to fully fund capex budget and r educe long - term debt to $9.5 billion by YE 2012 Capex for drilling, completion and leasehold to be significantly reduced from during remainder of 2012 and in 2013