Chesapeake Energy 2013 Annual Report Download - page 164

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
SUPPLEMENTARY INFORMATION – (Continued)
156
Gas Oil NGL Total
(bcf) (mmbbl) (mmbbl) (mmboe)
December 31, 2012
Proved reserves, beginning of period ..................................... 15,515 291.6 253.9 3,132
Extensions, discoveries and other additions .................... 3,317 374.0 139.4 1,065
Revisions of previous estimates....................................... (6,080) (67.5) (47.3) (1,127)
Production ........................................................................ (1,129) (31.3) (17.6) (237)
Sale of reserves-in-place ................................................. (704) (75.5) (31.7) (225)
Purchase of reserves-in-place ......................................... 14 4.2 0.6 7
Proved reserves, end of period(c) ............................................ 10,933 495.5 297.3 2,615
Proved developed reserves:
Beginning of period .......................................................... 8,578 124.0 130.6 1,684
End of period.................................................................... 7,174 162.9 132.1 1,491
Proved undeveloped reserves:
Beginning of period .......................................................... 6,937 167.6 123.3 1,447
End of period(b) ................................................................. 3,759 332.6 165.2 1,124
December 31, 2011
Proved reserves, beginning of period ..................................... 15,455 150.1 123.3 2,849
Extensions, discoveries and other additions .................... 4,156 168.4 85.2 947
Revisions of previous estimates....................................... (361) (7.8) 60.6 (8)
Production ........................................................................ (1,004) (17.0) (14.7) (199)
Sale of reserves-in-place ................................................. (2,754) (2.6) (1.2) (462)
Purchase of reserves-in-place ......................................... 23 0.5 0.7 5
Proved reserves, end of period(d)............................................ 15,515 291.6 253.9 3,132
Proved developed reserves:
Beginning of period .......................................................... 8,246 84.2 64.0 1,524
End of period.................................................................... 8,578 124.0 130.6 1,684
Proved undeveloped reserves:
Beginning of period .......................................................... 7,209 65.9 59.3 1,326
End of period(b) ................................................................. 6,937 167.6 123.3 1,447
___________________________________________
(a) Includes 61 bcf of natural gas, 2 mmbbls of oil and 6 mmbbls of NGL reserves owned by the Chesapeake Granite
Wash Trust, 30 bcf of natural gas, 1 mmbbls of oil and 3 mmbbls of NGL of which are attributable to the noncontrolling
interest holders.
(b) As of December 31, 2013, 2012 and 2011, there were no PUDs that had remained undeveloped for five years or
more.
(c) Includes 91 bcf of natural gas, 4 mmbbls of oil and 9 mmbbls of NGL reserves owned by the Chesapeake Granite
Wash Trust, 45 bcf of natural gas, 2 mmbbls of oil and 4 mmbbls of NGL of which are attributable to the noncontrolling
interest holders.
(d) Includes 136 bcf of natural gas, 6 mmbbls of oil and 14 mmbbls of NGL reserves owned by the Chesapeake
Granite Wash Trust, 67 bcf of natural gas, 3 mmbbls of oil and 7 mmbbls of NGL of which are attributable to the
noncontrolling interest holders.
During 2013, we acquired approximately 2 mmboe of proved reserves through purchases of natural gas and oil
properties for consideration of $22 million, and we sold 189 mmboe of proved reserves for approximately $1.621 billion.
During 2013, we recorded downward revisions of 30 mmboe to the December 31, 2012 estimates of our reserves.
Included in the revisions were 162 mmboe of upward revisions resulting from higher natural gas, oil and NGL prices