Chesapeake Energy Corp (CHK)

[researcher59]

Those percentages are on an "oil equivalent basis", not on a revenue or profit basis.

NG is much cheaper than oil on an energy equivalent basis because it's so plentiful.

The generally accepted ratio is 5.8 Mcf = 1 barrel of oil.

So at current prices, 5.8 x $3.70/mcf = $21.46.

Oil prices would have to drop to $21.46/bbl for energy equivalent cost of NG at $3.70/mcf.