Chesapeake Energy 2014 Annual Report Download - page 48
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40
Years Ended December 31,
2014 2013 2012
Other Operating Income(c) ($ in millions):
Marketing, gathering and compression net margin $ (11) $ 98 $ 119
Oilfield services net margin $ 115 $ 159 $ 142
Expenses ($ per boe):
Oil, natural gas and NGL production $ 4.69 $ 4.74 $ 5.50
Production taxes $ 0.90 $ 0.94 $ 0.79
General and administrative(d) $ 1.25 $ 1.86 $ 2.26
Oil, natural gas and NGL depreciation, depletion and
amortization $ 10.41 $ 10.59 $ 10.58
Depreciation and amortization of other assets $ 0.90 $ 1.28 $ 1.28
Interest expense(e) $ 0.63 $ 0.65 $ 0.35
Interest Expense ($ in millions):
Interest expense $ 173 $ 169 $ 84
Interest rate derivatives – realized (gains) losses(f) (12) (9) (1)
Interest rate derivatives – unrealized (gains) losses(f) (72) 67 (6)
Total interest expense $ 89 $ 227 $ 77
___________________________________________
(a) Oil equivalent is based on six mcf of natural gas to one barrel of oil or one barrel of NGL. This ratio reflects an
energy content equivalency and not a price or revenue equivalency.
(b) Realized gains and losses include the following items: (i) settlements of undesignated derivatives related to current
period production revenues, (ii) prior period settlements for option premiums and for early-terminated derivatives
originally scheduled to settle against current period production revenues, and (iii) gains and losses related to de-
designated cash flow hedges originally designated to settle against current period production revenues. Unrealized
gains and losses include the change in fair value of open derivatives scheduled to settle against future period
production revenues offset by amounts reclassified as realized gains and losses during the period.
(c) Includes revenue and operating costs. See Depreciation and Amortization of Other Assets under Results of
Operations for details of the depreciation and amortization associated with our marketing, gathering and
compression and former oilfield services operating segments.
(d) Includes share-based compensation but excludes restructuring and other termination costs.
(e) Includes the effects of realized (gains) losses from interest rate derivatives, excludes the effects of unrealized
(gains) losses from interest rate derivatives, and is shown net of amounts capitalized.
(f) Realized (gains) losses include settlements related to the current period interest accrual and the effect of (gains)
losses on early-terminated trades. Settlements of early-terminated trades are reflected in realized (gains) losses
over the original life of the hedged item. Unrealized (gains) losses include changes in the fair value of open interest
rate derivatives offset by amounts reclassified to realized (gains) losses during the period.