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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES:        
Oil, natural gas and NGL $ 1,177 $ 1,363 $ 2,610 $ 4,122
Marketing, gathering and compression 1,099 2,013 3,241 5,993
Total Revenues 2,276 3,376 5,851 10,115
OPERATING EXPENSES:        
Oil, natural gas and NGL production 164 251 552 826
Oil, natural gas and NGL gathering, processing and transportation 473 483 1,436 1,429
Production taxes 17 25 54 87
Marketing, gathering and compression 1,261 1,955 3,410 5,751
General and administrative 63 49 172 174
Restructuring and other termination costs 0 53 3 39
Provision for legal contingencies 8 0 112 359
Oil, natural gas and NGL depreciation, depletion and amortization 255 488 791 1,773
Depreciation and amortization of other assets 25 31 83 100
Impairment of oil and natural gas properties 433 5,416 2,331 15,407
Impairments of fixed assets and other 751 79 795 167
Net (gains) losses on sales of fixed assets 0 (1) (5) 3
Total Operating Expenses 3,450 8,829 9,734 26,115
LOSS FROM OPERATIONS (1,174) (5,453) (3,883) (16,000)
OTHER INCOME (EXPENSE):        
Interest expense (73) (88) (197) (210)
Losses on investments (1) (33) (3) (57)
Loss on sale of investment 0 0 (10) 0
Gains on purchases or exchanges of debt 87 0 255 0
Other income (expense) 7 (2) 13 3
Total Other Income (Expense) 20 (123) 58 (264)
LOSS BEFORE INCOME TAXES (1,154) (5,576) (3,825) (16,264)
INCOME TAX BENEFIT:        
Current income taxes 0 0 0 (6)
Deferred income taxes 0 (937) 0 (3,808)
Total Income Tax Benefit 0 (937) 0 (3,814)
NET LOSS (1,154) (4,639) (3,825) (12,450)
Net income attributable to noncontrolling interests (1) (13) (1) (50)
NET LOSS ATTRIBUTABLE TO CHESAPEAKE (1,155) (4,652) (3,826) (12,500)
Preferred stock dividends (42) (43) (127) (128)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS $ (1,197) $ (4,695) $ (3,953) $ (12,628)
LOSS PER COMMON SHARE:        
Earnings Per Share, Basic $ (1.54) $ (7.08) $ (5.47) $ (19.07)
Earnings Per Share, Diluted (1.54) (7.08) (5.47) (19.07)
CASH DIVIDEND DECLARED PER COMMON SHARE $ 0 $ 0 $ 0 $ 0.0875
WEIGHTED AVERAGE COMMON AND COMMON EQUIVALENT SHARES OUTSTANDING (in millions):        
Weighted Average Number of Shares Outstanding, Basic 777 663 722 662
Weighted Average Number of Shares Outstanding, Diluted 777 663 722 662