Chesapeake Energy 2012 Annual Report Download - page 85
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75
As of December 31, 2012, we had the following open natural gas and oil derivative instruments:
Weighted Average Price Designated Fair
Volume Fixed Call Differential Hedge Value
(tbtu) (per mmbtu) ($ in millions)
Natural Gas:
Swaps:
Q1 2013 ................... 24 $3.90 $ — $ — No $ 13
Q2 2013 ................... 25 3.90 — — No 11
Call Options (sold):
Q1 2013 ................... 44 — 6.39 — No —
Q2 2013 ................... 67 — 6.39 — No —
Q3 2013 ................... 68 — 6.39 — No (1)
Q4 2013 ................... 68 — 6.39 — No (1)
2014 ......................... 330 —6.43 — No (17)
2015 ......................... 226 —6.31 — No (29)
2016 ......................... 279 —6.72 — No (63)
2017 – 2020 ............. 114 — 10.92 — No (14)
Call Options (bought)(a):
Q1 2013 ................... (44) —6.39 — No (3)
Q2 2013 ................... (67) —6.39 — No (3)
Q3 2013 ................... (68) —6.39 — No (2)
Q4 2013 ................... (68) —6.39 — No (1)
2014 ......................... (330)—6.43 — No (23)
2015 ......................... (226)—6.31 — No (53)
2016 ......................... (200)—6.02 — No (30)
Basis Protection Swaps:
2013 ......................... 44 — — (0.21) No (1)
2014 ......................... 28 — — (0.32) No (4)
2015 ......................... 31 — — (0.34) No (3)
2016 – 2022 ............. 8— — (1.02) No (7)
Total Natural Gas ...................................................................................... $ (231)