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Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022
--- | --- | ---
Debt Instrument [Line Items] |  |
Long-term debt, fair value | $ 1,882 | $ 2,927
Premiums on senior notes | 88 | 100
Debt issuance costs | (6) | (7)
Total long-term debt, net | 2,032 | 3,093
Line of Credit | New Credit Facility |  |
Debt Instrument [Line Items] |  |
Chesapeake revolving credit facility | 0 | 1,050
Long-term debt, fair value | $ 0 | 1,050
Senior Notes | 5.50% senior notes due 2026 |  |
Debt Instrument [Line Items] |  |
Interest rate, stated percentage | 5.50% |
Outstanding borrowings | $ 500 | 500
Long-term debt, fair value | $ 484 | 485
Senior Notes | 5.875% senior notes due 2029 |  |
Debt Instrument [Line Items] |  |
Interest rate, stated percentage | 5.875% |
Outstanding borrowings | $ 500 | 500
Long-term debt, fair value | $ 470 | 475
Senior Notes | 6.75% senior notes due 2029 |  |
Debt Instrument [Line Items] |  |
Interest rate, stated percentage | 6.75% |
Outstanding borrowings | $ 950 | 950
Long-term debt, fair value | $ 928 | $ 917

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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 + Details
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