Operating Costs (per mcfe of Projected Production)
1Q24A
2024E
Total Natural Gas Production (mmcf/d)
3,198
2,620 - 2,720
2,650 - 2,750
Production Expense
$0.20
$0.23 - $0.28
Marcellus
54%
~60%
~55%
Gathering, Processing and Transportation Expenses
$0.59
$0.60 - $0.70
Haynesville
46%
~40%
~45%
Severance and Ad Valorem Taxes
$0.10
$0.08 - $0.10
General and Administrative(1)
$0.16
$0.14 - $0.18
Depreciation, Depletion and Amortization Expense
$1.37
$1.35 - $1.45
Capital and Equity Investment Expenditures ($mm)
1Q24A
2Q24E
2024E
Corporate Expenses ($mm)
1Q24A
2024E
Total D&C
$300
$250 - $270
$1,000
- $1,080
Marketing Net Margin and Other
($13)
$0
- $5
Marcellus
35%
~35%
~35%
Interest Expense
$19
$75
- $85
Haynesville
65%
~65%
~65%
Cash Income Taxes / (Refunds)
$0
$0 - $50
Other Capex (Field)(2)
$35
$45 -$55
$155
- $165
Other Capex (Corporate)(3)
$19
~$25
$95 - $105
Total Capital Expenditures
$354
$320- $350
$1,250
- $1,350
Basis
1Q24A
2024E
Momentum Equity Investment
$19
$20 - $30
$50 - $100
Estimated (E) Basis Deduct to NYMEX Prices, based on 4/26/24 Strip Prices:
Natural Gas ($/mcf)
$0.21
$0.32
- $0.42
Guidance is CHK standalone only
Includes ~$0.03/mcfe of expenses associated with stock-based compensation, which are recorded in general and administrative expenses in Chesapeake's Condensed Consolidated Statement of Operations
(2) Other Field capex primarily attributable to leasehold and workover
(3) Corporate capex primarily related to capitalized interest, PP&E and G&A
1Q 2024 Earnings
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Chesapeake Energy Corporation published this content on
30 April 2024 and is solely responsible for the information contained therein. Distributed by
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Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. The Company is engaged in the acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids (NGLs) from underground reservoirs. It owns a diverse portfolio of onshore United States unconventional natural gas and liquids assets, including interests in approximately 5,000 gross oil and natural gas wells. Its natural gas resource plays are Marcellus Shale in the northern Appalachian Basin in Pennsylvania (Marcellus) and the Haynesville/Bossier Shales in northwestern Louisiana (Haynesville). The Companyâs marketing operations include oil, natural gas and NGL marketing services, that consists of commodity price structuring, negotiating of gathering, hauling, processing and transportation services, and contract administration and nomination services for Chesapeake and other interest owners in Chesapeake-operated wells.
CHESAPEAKE ENERGY CORPORATION 
