Chesapeake Energy Corporation Valuation Report, July 2010 - Strategic and Operational Analysis


#29274

120pages

GlobalData

$ 3500

In Stock


Chesapeake Energy Corporation (Chesapeake) is an integrated oil and gas company. The company, through its subsidiaries, is engaged in the acquisition, development, exploration, production and marketing of oil and natural gas in the US. The company is one of the largest producers of natural gas in North America and is also the most active driller of new wells in the US. 

Chesapeake primarily operates in the Big 6 natural gas and oil plays including the Barnett Shale in the Fort Worth Basin of north-central Texas, the Haynesville and Bossier Shales in the Ark-La-Tex area of northwestern Louisiana and East Texas, the Fayetteville Shale in the Arkoma Basin of central Arkansas, the Marcellus Shale in the northern Appalachian Basin of West Virginia, Pennsylvania and New York and the Eagleford Shale in south Texas.

Scope

  • Investment Thesis: This section highlights the companies new ventures, liquidity issues, assets analysis, hedging, new projects details, capex funding, geographical results of oil and gas operations, and other related analysis. 
  • Goals and Strategies: Provide highlights on their existing and upcoming challenges with the possible strategies. 
  • SWOT: This section highlights the companies internal strength, weakness, opportunities and threats to better understand their position in the market
  • Production and Development profile: This section highlights the companies forecasted crude oil and natural gas production from their existing and upcoming assets. It also covers the detailed information and analysis on the producing and development assets. 
  • Exploration and M&A trends: This section includes exploration assets information resulted due to new discoveries, new drilling and other activities. Additionally, M&A section highlights the companies recent assets transactions, joint ventures, acquisition, and divestment activities during the specified period. 
  • Financial Forecast and Valuation: This section highlights the detailed financial forecast of the companies for coming five years. This section also provides intrinsic value of the companies by using different valuation techniques. 
  • Peer Group: This section compares peer group performance with the main companies on the basis of share prices, financial ratios, operational and financial parameters and other related activities. 

Reasons to buy

  • The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to:
  • Provide detailed analysis to those who are interested in knowing the companies existing and future business strategies.
  • Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates. 
  • Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies. 
  • Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Table of Content

1 Table of Contents 3
1.1 List of Tables 6
1.2 List of Figures 8

2 Chesapeake Energy Corporation, Company Overview 11

3 Chesapeake Energy Corporation, Watchlist For 2010 14

4 Chesapeake Energy Corporation, Investment Summary 15
4.1 Largest Player in US Natural Gas Shales; Emerging Player in Unconventional Liquid Plays 15
4.2 Creation of a More Balanced Portfolio 18
4.3 Financial Restructuring and Continued Success in Asset Monetization Transactions 18
4.4 Visible Future Growth in Production 19
4.5 Deep Inventory of Undeveloped Assets 19

5 Chesapeake Energy Corporation, SWOT Analysis 20
5.1 Strengths 20
5.1.1 One of the Largest Producers of Natural Gas in the US 20
5.1.2 High Quality Asset Base 20
5.1.3 Consistent Growth in Production 21
5.1.4 Excellent Hedging Performance 21
5.2 Weaknesses 21
5.2.1 Excessive Dependence on Natural Gas 21
5.2.2 Inability to Fund Growth Solely Through Internal Generation of Funds 22
5.3 Opportunities 22
5.3.1 Rising Proportion of Crude Oil and NGLs in Total Production 22
5.3.2 Huge Inventory Base 23
5.3.3 Creating Value through Joint Ventures 23
5.3.4 Financial Restructuring to Increase Shareholder Value and Achieve Investment Grade Rating 24
5.4 Threats 24
5.4.1 Inability in the Future to Fund Growth through Joint Ventures and Other Deals 24

6 Chesapeake Energy Corporation, Goals and Stategies 25
6.1 Increased Focus on Oil and Liquid Rich Areas 25
6.2 Financial Restructuring To Reduce Leverage and Fund Growth Program 25
6.3 Achieve Industry Leading Operational Growth Rates 26
6.4 Continued Monetization of Assets to Fund Growth and Restructuring 27

7 Chesapeake Energy Corporation, Production and Development Overview 28
7.1 Production and Development Profile 28
7.2 Reallocating Resources from Natural Gas Plays to Liquid-Rich Plays in the US 31
7.3 Increased Level of Activity in the Unconventional Liquid-Rich Plays to Increase the Proportion of Crude Oil and NGLs in Total Production 35
7.4 Costs Incurred 36

8 Chesapeake Energy Corporation, M&A Highlights 38
8.1 M&A Activity 38
8.2 Reserve Additions and Associated Costs 40

9 Chesapeake Energy Corporation, Midstream Updates 43

10 Chesapeake Energy Corporation, Outlook 44

11 Chesapeake Energy Corporation, Forecast Financial Statements 45
11.1 Income Statement (20072014) 46
11.2 Balance Sheet (20072014) 47
11.3 Cash Flow Statement (20072014) 48
11.4 Financial Ratios 48

12 Chesapeake Energy Corporation, Valuation 51
12.1 Net Asset Value 51

13 Chesapeake Energy Corporation, Peer Comparison 54

14 Chesapeake Energy Corporation, Key Risks 60
14.1 High Rate of Indebtedness Reduces Financial Flexibility 60
14.2 Total Production Highly Skewed Towards Natural Gas 60
14.3 Inability to Fund Capex to Replace Reserves 60

15 Chesapeake Energy Corporation, Detailed Financial and Operational Metrics 61
15.1 Results of Oil and Gas Operations Per BOE Produced, Q1, 2009 Q1, 2010 61
15.1.1 Results of Oil and Gas Operations per BOE Growth Rates, Q1, 2009Q1, 2010 61
15.2 Chesapeake Energy Corporation, Quarterly E&P Costs Trends 62
15.2.1 Upstream Capital Expenditure, Q1, 2009Q1, 2010 62
15.3 Chesapeake Energy Corporation, Quarterly Production Trends 63
15.3.1 Total Crude Oil and Natural Gas Production Trend, Q1, 2009Q1, 2010 63
15.3.2 Total Crude Oil and Natural Gas Production, By Country/Region, Q1, 2009Q1, 2010 64
15.3.3 Total Crude Oil and Natural Gas Production Per Share, Q1, 2009Q1, 2010 65
15.4 Chesapeake Energy Corporation Crude Oil Production 66
15.4.1 Total Crude Oil Production Trend, Q1, 2009Q1, 2010 66
15.4.2 Crude Oil Production, By Country/Region, Q1, 2009Q1, 2010 67
15.5 Chesapeake Energy Corporation Natural Gas Production 68
15.5.1 Total Natural Gas Production Trend, Q1, 2009Q1, 2010 68
15.5.2 Natural Gas Production, By Country/Region, Q1, 2009Q1, 2010 69
15.6 Chesapeake Energy Corporation, Production and Reserves Trends 70
15.6.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 200409 70
15.6.2 Total Crude Oil and Natural Gas Production and Reserves By Country/Region, 200409 71
15.6.3 Total Crude Oil and Natural Gas Reserve Changes, 200409 73
15.7 Crude Oil/Liquids Production and Reserve 74
15.7.1 Crude Oil/Liquids Production and Reserve Trend, 200409 74
15.7.2 Crude Oil Production and Reserves By Country/Region, 200409 75
15.7.3 Crude Oil/Liquids Reserve Changes, 200409 76
15.8 Natural Gas Production and Reserve 77
15.8.1 Natural Gas Production and Reserve Trend, 200409 77
15.8.2 Natural Gas Production and Reserves, By Country/Region, 200409 78
15.8.3 Natural Gas Reserve Changes, 200409 79
15.9 Total Crude Oil and Natural Gas Reserves Life Index 80
15.9.1 Total Crude Oil and Natural Gas Reserves Life Index, 200409 80
15.9.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 200409 81
15.10 Chesapeake Energy Corporation, E&P Costs Trends 83
15.10.1 Upstream Capital Expenditure, 200409 83
15.10.2 Acquisition Costs By Country/Region, 200409 84
15.10.3 Exploration and Development Costs, By Country/Region, 200409 85
15.11 Oil and Gas Cost Per Boe, $/boe 87
15.11.1 Oil and Gas Cost Per Boe, $/boe, 200409 87
15.11.2 Oil and Gas Cost Per Boe, $/boe, By Country/Region, 200409 88
15.12 Chesapeake Energy Corporation, Reserve Replacement Ratio 90
15.12.1 Oil and Gas Production Replacement Ratio, 200409 90
15.12.2 Oil and Gas Production Replacement Ratio, By Country/Region, 200409 91
15.13 Chesapeake Energy Corporation, Results of Oil and Gas Operations Trend 95
15.13.1 Oil and Gas Revenue and Expenses, 200409 95
15.13.2 Oil and Gas Revenue and Expenses, By Country/Region, 200409 96
15.14 Oil and Gas Revenue and Expenses, Per Boe 100
15.14.1 Oil and Gas Revenue and Expenses, By Boe, 200409 100
15.14.2 Oil and Gas Revenue and Expenses Per Boe, By Country/Region, 200409 101
15.15 Oil and Gas Performance Metrics 104
15.16 Chesapeake Energy Corporation, Land Holdings and Well Data 105
15.16.1 Gross and Net Developed and Undeveloped Acreage, 200409 105
15.16.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 200409 106
15.17 Well Statistics 108
15.17.1 Producible Oil and Gas Well, 200409 108
15.17.2 Producible Oil and Gas Well, By Country/Region, 200409 109
15.17.3 Exploration and Development Wells Drilled, 200409 113
15.17.4 Exploration and Development Wells Drilled, By Country/Region, 200409 114
15.17.5 Developed Reserves per Well, Oil (Mbbl per Well), Gas (MMcf per Well), Oil and Gas (Mboe per Well), 200409 114
15.17.6 Developed Reserves per Well, By Country/Region, 200409 115

16 Appendix 117
16.1 Methodology 117
16.1.1 Coverage 117
16.1.2 Secondary Research 117
16.1.3 Primary Research 117
16.2 Data Sources 118
16.2.1 Company Source 118
16.2.2 SEC/Other Regulatory Filings 118
16.2.3 Agency Reports 118
16.2.4 Other Sources 118
16.3 Expert Panel Validation 118
16.4 Definitions 118
16.5 Units of Measure 119
16.6 Other Abbreviations 119
16.7 About GlobalData 120
16.8 Disclosure 120
16.9 Disclaimer 120

Table 1: Chesapeake Energy Corporation, Key Events, July 2009July 2010 13
Table 2: Chesapeake Energy Corporation, Marcellus Shale, Haynesville Shale, Barnett Shale and Fayetteville Shale, Key Statistics, 2010 17
Table 3: Chesapeake Energy Corporation, Upstream Growth Profile, 20102014 30
Table 4: Chesapeake Energy Corporation, Recent Transactions as a Seller, 20062010 39
Table 5: Chesapeake Energy Corporation, Recent Transactions as a Buyer, 20062010 40
Table 6: Chesapeake Energy Corporation, Forecast Production, 20062014 45
Table 7: GlobalData, Crude Oil And Natural Price Forecast, 20102014 45
Table 8: Chesapeake Energy Corporation, Income Statement, $m, 20072014 46
Table 9: Chesapeake Energy Corporation, Balance Sheet, $m, 20072014 47
Table 10: Chesapeake Energy Corporation, Cash Flow Statement, $m, 20072014 48
Table 11: Chesapeake Energy Corporation, Profitability Ratios, 20072014 49
Table 12: Chesapeake Energy Corporation, Other Ratios, 20072014 49
Table 13: GlobalData, Price Forecast, 20102014 51
Table 14: Chesapeake Energy Corporation, Net Asset Value, 2010 52
Table 15: Chesapeake Energy Corporation, Prospective Acreage and Non Proven Reserves, 2010 52
Table 16: Chesapeake Energy Corporation, NPV of Oil/NGL Reserves, $/bbl, 2010 52
Table 17: Chesapeake Energy Corporation, NPV of Natural Gas Reserves, $/Mcf, 2010 53
Table 18: Chesapeake Energy Corporation, NPV of Total Crude Oil and Natural Gas Reserves, $/boe, 2010 53
Table 19: Chesapeake Energy Corporation, Sensitivity Analysis on Fair Value, $/share, 2010 53
Table 20: Chesapeake Energy Corporation and Peer Group Comparison, Financial Ratios, 2009 55
Table 21: Chesapeake Energy Corporation and Peer Group Comparison, Operational and Financial Performance, 2009 56
Table 22: Chesapeake Energy Corporation, Results of Oil and Gas Operations Per BOE Produced, $/boe, Q1, 2009Q1, 2010 61
Table 23: Chesapeake Energy Corporation, Results of Oil and Gas Operations Per BOE Growth Rates, %, Q1, 2009Q1, 2010 61
Table 24: Chesapeake Energy Corporation, Upstream Capital Expenditure, Q1, 2009Q1, 2010 62
Table 25: Chesapeake Energy Corporation, Total Crude Oil and Natural Gas, Production, Q1, 2009Q1, 2010 63
Table 26: Chesapeake Energy Corporation, Total Oil and Gas Production, By Country/Region, MMBOE, Q1, 2009Q1, 2010 64
Table 27: Chesapeake Energy Corporation, Total Crude Oil and Natural Gas Production Per Share, Q1, 2009Q1, 2010 65
Table 28: Chesapeake Energy Corporation, Total Crude Oil Production, MMbbl, Q1, 2009Q1, 2010 66
Table 29: Chesapeake Energy Corporation, Crude Oil Production, By Country/Region, MMbbl, Q1, 2009Q1, 2010 67
Table 30: Chesapeake Energy Corporation, Total Natural Gas Production, Bcf, Q1, 2009Q1, 2010 68
Table 31: Chesapeake Energy Corporation, Natural Gas Production, By Country/Region, Bcf, Q1, 2009Q1, 2010 69
Table 32: Chesapeake Energy Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 200409 70
Table 33: Chesapeake Energy Corporation, Total Crude Oil and Natural Gas Production and Reserves, By Country/Region, MMboe, 200409 72
Table 34: Chesapeake Energy Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 200409 73
Table 35: Chesapeake Energy Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 200409 74
Table 36: Chesapeake Energy Corporation, Crude Oil Production and Reserves, By Country/Region, MMbbl, 200409 75
Table 37: Chesapeake Energy Corporation, Crude Oil Reserve Changes, MMbbl, 200409 76
Table 38: Chesapeake Energy Corporation, Natural Gas Production and Reserves Metrics, Bcf, 200409 77
Table 39: Chesapeake Energy Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 200409 78
Table 40: Chesapeake Energy Corporation, Natural Gas Reserve Changes, Bcf, 200409 79
Table 41: Chesapeake Energy Corporation, Oil and Gas Reserves Life Index, Years, 200409 80
Table 42: Chesapeake Energy Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 200409 82
Table 43: Chesapeake Energy Corporation, Upstream Capital Expenditure, $m, 200409 83
Table 44: Chesapeake Energy Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $m, 200409 84
Table 45: Chesapeake Energy Corporation, Exploration and Development Costs, By Country/Region, $m, 200409 86
Table 46: Chesapeake Energy Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per Boe, $/boe, 200409 87
Table 47: Chesapeake Energy Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per Boe, $/boe, By Country/Region, 200409 90
Table 48: Chesapeake Energy Corporation, Oil and Gas Production Replacement Ratio, %, 200409 90
Table 49: Chesapeake Energy Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 200409 94
Table 50: Chesapeake Energy Corporation, Revenue and Expenses, $m, 200409 95
Table 51: Chesapeake Energy Corporation, Revenue and Expenses, By Country/Region, $m, 200409 99
Table 52: Chesapeake Energy Corporation, Oil and Gas Revenue and Expenses, $/Boe, 200409 100
Table 53: Chesapeake Energy Corporation, Oil and Gas Revenue and Expenses, $/Boe, By Country/Region, 200409 104
Table 54: Chesapeake Energy Corporation, Oil and Gas Performance Metrics, 200409 105
Table 55: Chesapeake Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 200409 105
Table 56: Chesapeake Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 200409 108
Table 57: Chesapeake Energy Corporation, Producible Oil and Gas Wells, 200409 108
Table 58: Chesapeake Energy Corporation, Producible Oil and Gas Wells, By Country/Region, 200409 112
Table 59: Chesapeake Energy Corporation, Exploratory and Developed Wells, 200409 113
Table 60: Chesapeake Energy Corporation, Exploratory and Developed Wells, By Country/Region, 200409 114
Table 61: Chesapeake Energy Corporation, Developed Reserves per Well, Oil (Mbbl per Well), Gas (MMcf per Well), Oil and Gas (Mboe per Well), 200409 114
Table 62: Chesapeake Energy Corporation, Developed Reserves per Well, By Country/Region, Mboe per Well, 200409 116
Figure 1: Chesapeake Energy Corporation, Operational Map, 2010 11
Figure 2: Chesapeake Energy Corporation, Financial and Operational Overview, 20052009 12
Figure 3: Chesapeake Energy Corporation, Share Price Movement, July 2009July 2010 13
Figure 4: Chesapeake Energy Corporation and Peers, Net Acreage, Thousand Acres, Q1 2010 15
Figure 5: Chesapeake Energy Corporation and Peers, Anticipated Average Rig Count in Key Resource Plays, 2010 16
Figure 6: Top 5 Natural Gas Producers, The US, Bcf, 20072009 20
Figure 7: Chesapeake Energy Corporation, Net Acreage and Un-Drilled Wells, Q1 2010 23
Figure 8: Chesapeake Energy Corporation and Its Peers, Reserves and Production Growth, MMboe, 20052009 27
Figure 9: Chesapeake Energy Corporation, Total Production From Upstream Assets, MMboe, 20062014 29
Figure 10: Chesapeake Energy Corporation, Total Production By Type, MMboe, 20062014 29
Figure 11: Chesapeake Energy Corporation, Total Production By Region, MMboe, 20062014 30
Figure 12: Chesapeake Energy Corporation, Marcellus Shale Map, 2010 31
Figure 13: Chesapeake Energy Corporation, Haynesville and Bossier Shale Map, 2010 32
Figure 14: Chesapeake Energy Corporation, Barnett Shale Map, 2010 33
Figure 15: Chesapeake Energy Corporation, Fayetteville Shale Map, 2010 34
Figure 16: Chesapeake Energy Corporation, Granite Wash Map, 2010 35
Figure 17: Chesapeake Energy Corporation, Total Costs Incurred, $m, 20052009 37
Figure 18: Chesapeake Energy Corporation, Comparison of Exploration Cost and Reserve Addition Through Drillbit, 20052009 41
Figure 19: Chesapeake Energy Corporation, Comparison of Acquisition Cost and Reserve Addition Through Acquisitions, 20052009 42
Figure 20: Chesapeake Energy Corporation and Peer Group, Relative Share Price Performance Index, July 2009July 2010 54
Figure 21: Chesapeake Energy Corporation and Peer Group, F&D Costs and Reserve Replacement, 2009 57
Figure 22: Chesapeake Energy Corporation and Peer Group, E&P Operational and Financial Performance, $/boe, 2009 57
Figure 23: Chesapeake Energy Corporation and Peer Group, Total Reserves and Production, MMboe, 2009 58
Figure 24: Chesapeake Energy Corporation and Peer Group, Comparative Valuation Multiples, 2010 59
Figure 25: Chesapeake Energy Corporation, Results of Oil and Gas Operations Per BOE Produced, $/boe, Q1, 2009Q1, 2010 61
Figure 26: Chesapeake Energy Corporation, Upstream Capital Expenditure, $m, Q1, 2009Q1, 2010 62
Figure 27: Chesapeake Energy Corporation, Total Crude Oil and Natural Gas, Production, MMboe, Q1, 2009Q1, 2010 63
Figure 28: Chesapeake Energy Corporation, Total Oil and Gas Production, By Country/Region, MMboe, Q1, 2009Q1, 2010 64
Figure 29: Chesapeake Energy Corporation, Total Crude Oil and Natural Gas Production Per Share, Boe/Share, Q1, 2009Q1, 2010 65
Figure 30: Chesapeake Energy Corporation, Total Crude Oil Production, MMbbl, Q1, 2009Q1, 2010 66
Figure 31: Chesapeake Energy Corporation, Crude Oil Production, By Country/Region, MMbbl, Q1, 2009Q1, 2010 67
Figure 32: Chesapeake Energy Corporation, Total Natural Gas Production, Bcf, Q1, 2009Q1, 2010 68
Figure 33: Chesapeake Energy Corporation, Natural Gas Production, By Country/Region, Bcf, Q1, 2009Q1, 2010 69
Figure 34: Chesapeake Energy Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 200409 70
Figure 35: Chesapeake Energy Corporation, Total Oil and Gas Production (Reserves Reconciliation), By Country/Region, MMBOE, 200409 71
Figure 36: Chesapeake Energy Corporation, Total Proved Oil and Gas Reserves, By Country/Region, MMBOE, 200409 72
Figure 37: Chesapeake Energy Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2009 73
Figure 38: Chesapeake Energy Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 200409 74
Figure 39: Chesapeake Energy Corporation, Oil Production (Reserves Reconciliation), By Country/Region, MMbbl, 200409 75
Figure 40: Chesapeake Energy Corporation, Total Proved Oil Reserves, By Country/Region, MMbbl, 200409 75
Figure 41: Chesapeake Energy Corporation, Crude Oil Reserve Changes, MMbbl, 2009 76
Figure 42: Chesapeake Energy Corporation, Natural Gas Production and Reserves Metrics, Bcf, 200409 77
Figure 43: Chesapeake Energy Corporation, Gas Production (Reserves Reconciliation), By Country/Region, Bcf, 200409 78
Figure 44: Chesapeake Energy Corporation, Total Proved Gas Reserves, By Country/Region, Bcf, 200409 78
Figure 45: Chesapeake Energy Corporation, Natural Gas Reserve Changes, Bcf, 2009 79
Figure 46: Chesapeake Energy Corporation, Oil and Gas Reserves Life Index, Years, 200409 80
Figure 47: Chesapeake Energy Corporation, Gas Reserve Life Index, By Country/Region, Ratio, 200409 81
Figure 48: Chesapeake Energy Corporation, Oil and Gas Reserve Life Index, By Country/Region, Ratio, 200409 81
Figure 49: Chesapeake Energy Corporation, Oil Reserve Life Index, By Country/Region, Ratio, 200409 82
Figure 50: Chesapeake Energy Corporation, Upstream Capital Expenditure, $m, 200409 83
Figure 51: Chesapeake Energy Corporation, Proved Acquisition Costs, By Country/Region, $m, 200409 84
Figure 52: Chesapeake Energy Corporation, Unproved Acquisition Costs, By Country/Region, $m, 200409 84
Figure 53: Chesapeake Energy Corporation, Development Costs, By Country/Region, $m, 200409 85
Figure 54: Chesapeake Energy Corporation, Exploration Costs, By Country/Region, $m, 200409 86
Figure 55: Chesapeake Energy Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per Boe, $/boe, 200409 87
Figure 56: Chesapeake Energy Corporation, 3-Year Wt. Avg. Oil and Gas Finding and Development Cost per boe, By Country/Region, $/boe, 200409 88
Figure 57: Chesapeake Energy Corporation, 3-Year Wt. Avg. Oil and Gas Finding Cost per boe, By Country/Region, $/Boe, 200409 88
Figure 58: Chesapeake Energy Corporation, 3-Year Wt. Avg. Reserve Replacement Cost per boe, By Country/Region, $/boe, 200409 89
Figure 59: Chesapeake Energy Corporation, 3-Year Wt. Avg. Proved Acquisition Cost per boe, By Country/Region, $/Boe, 200409 89
Figure 60: Chesapeake Energy Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 200409 90
Figure 61: Chesapeake Energy Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 200409 91
Figure 62: Chesapeake Energy Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 200409 92
Figure 63: Chesapeake Energy Corporation, 3-Year Wt. Avg. Oil and Gas F&D Production Replacement, By Country/Region, %, 200409 92
Figure 64: Chesapeake Energy Corporation, 3-Year Wt. Avg. Oil and Gas RRC Production Replacement, By Country/Region, %, 200409 93
Figure 65: Chesapeake Energy Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 200409 93
Figure 66: Chesapeake Energy Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 200409 94
Figure 67: Chesapeake Energy Corporation, Revenue and Expenses, $m, 2004-09 95
Figure 68: Chesapeake Energy Corporation, Depreciation, Depletion and Amortization, By Country/Region, $m, 200409 96
Figure 69: Chesapeake Energy Corporation, Income Tax/(Benefit), By Country/Region, $m, 200409 96
Figure 70: Chesapeake Energy Corporation, Net Income/ Loss, By Country/Region, $m, 200409 97
Figure 71: Chesapeake Energy Corporation, Oil and Gas Revenue, By Country/Region, $m, 200409 97
Figure 72: Chesapeake Energy Corporation, Pre-tax Profit, By Country/Region, $m, 200409 98
Figure 73: Chesapeake Energy Corporation, Production Expenses, By Country/Region, $m, 200409 98
Figure 74: Chesapeake Energy Corporation, Total Expenses, By Country/Region, $m, 200409 99
Figure 75: Chesapeake Energy Corporation, Oil and Gas Revenue and Expenses, $/Boe, 200409 100
Figure 76: Chesapeake Energy Corporation, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 200409 101
Figure 77: Chesapeake Energy Corporation, Lifting Cost per boe, By Country/Region, $/boe, 200409 101
Figure 78: Chesapeake Energy Corporation, Annual Net Income per boe, By Country/Region, $/boe, 200409 102
Figure 79: Chesapeake Energy Corporation, Oil and Gas Revenue per boe, By Country/Region, $/boe, 200409 102
Figure 80: Chesapeake Energy Corporation, Total DD&A per boe, By Country/Region, $/boe, 200409 103
Figure 81: Chesapeake Energy Corporation, Total Revenue per boe, By Country/Region, $/boe, 200409 103
Figure 82: Chesapeake Energy Corporation, Oil and Gas Performance Metrics, 200409 104
Figure 83: Chesapeake Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 200409 105
Figure 84: Chesapeake Energy Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 200409 106
Figure 85: Chesapeake Energy Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 200409 106
Figure 86: Chesapeake Energy Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 200409 107
Figure 87: Chesapeake Energy Corporation, Total Net Developed Acreage, By Country/Region, Acres, 200409 107
Figure 88: Chesapeake Energy Corporation, Producible Oil and Gas Wells, 200409 108
Figure 89: Chesapeake Energy Corporation, Gross Producible Gas Wells, By Country/Region, Number, 200409 109
Figure 90: Chesapeake Energy Corporation, Gross Producible Oil and Gas Wells, By Country/Region, Number, 200409 109
Figure 91: Chesapeake Energy Corporation, Gross Producible Oil Wells, By Country/Region, Number, 200409 110
Figure 92: Chesapeake Energy Corporation, Net Oil and Gas Wells as % of Gross Oil and Gas Wells, By Country/Region, %, 200409 110
Figure 93: Chesapeake Energy Corporation, Net Producible Gas Wells, By Country/Region, Number, 200409 111
Figure 94: Chesapeake Energy Corporation, Net Producible Oil and Gas Wells, By Country/Region, Number, 200409 111
Figure 95: Chesapeake Energy Corporation, Net Producible Oil Wells, By Country/Region, Number, 200409 112
Figure 96: Chesapeake Energy Corporation, Exploratory and Developed Wells, 200409 113
Figure 97: Chesapeake Energy Corporation, Developed Gas Reserves per Well (MMcf per Well), By Country/Region, 200409 115
Figure 98: Chesapeake Energy Corporation, Developed Oil and Gas Reserves per Well (Mboe per Well), By Country/Region, 200409 115
Figure 99: Chesapeake Energy Corporation, Developed Oil Reserves per Well (Mbbl per Well), By Country/Region, 200409 116