Chesapeake Energy 2012 Annual Report Download - page 86
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76
Weighted Average Price Designated Fair
Volume Fixed Call Differential Hedge Value
(mmbbl) (per bbl) ($ in millions)
Oil:
Swaps:
Q1 2013 ................... 5.9 $ 95.79 $ — $ — No $ 20
Q2 2013 ................... 6.9 95.95 — — No 17
Q3 2013 ................... 7.0 95.88 — — No 15
Q4 2013 ................... 6.9 95.83 — — No 18
2014 – 2015 ............. 1.4 90.11 — — No (2)
Call Options (sold):
Q1 2013 ................... 4.8 — 94.74 — No (17)
Q2 2013 ................... 4.8 — 94.74 — No (30)
Q3 2013 ................... 4.9 — 94.74 — No (39)
Q4 2013 ................... 4.9 — 94.74 — No (44)
2014 ......................... 16.9 — 96.92 — No (152)
2015 ......................... 24.7 — 100.45 — No (225)
2016 ......................... 18.9 — 104.71 — No (158)
2017 ......................... 5.3 — 83.50 — No (86)
Call Options (bought)(b):
Q1 2013 ................... (2.3) — 90.80 —No (7)
Q2 2013 ................... (2.3) — 90.80 —No (1)
Q3 2013 ................... (2.3) — 90.80 —No 3
Q4 2013 ................... (2.3) — 90.80 —No 6
2014 ......................... (2.2) — 94.91 —No 2
Basis Protection Swaps:
2013......................... 5.5 —— 13.20 No —
Call Swaptions:
2014 ......................... 2.9 106.69 — — No (9)
2015 ......................... 2.4 106.61 — — No (4)
Total Oil ...................................................................................................... $ (693)
Total Natural Gas and Oil .......................................................................... $ (924)
___________________________________________
(a) Included in the fair value are deferred premiums of $11 million, $41 million, $82 million and $84 million which we
will realize in 2013, 2014, 2015 and 2016, respectively.
(b) Included in the fair value are deferred premiums of $81 million and $19 million which we will realize in 2013 and
2014, respectively.