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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Operating Revenues:        
Gas sales $ 457 $ 717 $ 1,082 $ 1,510
Oil sales 24 5 41 6
NGL sales 15   33 1
Marketing 222 266 447 538
Gas gathering 46 47 94 93
Total Operating Revenues 764 1,035 1,697 2,148
Operating Costs and Expenses:        
Marketing purchases 219 261 441 532
Operating expenses 176 101 331 201
General and administrative expenses 60 52 128 108
Depreciation, depletion and amortization 308 230 601 $ 455
Impairment of natural gas and oil properties 1,535   1,535  
Gain on sale of assets, net (277)   (277)  
Taxes, other than income taxes 27 24 57 $ 50
Total Operating Costs and Expenses 2,048 668 2,816 1,346
Operating Income (Loss) (1,284) 367 (1,119) 802
Interest Expense:        
Interest on debt 52 25 102 50
Other interest charges 3   52 1
Interest capitalized (54) (13) (102) (26)
Total Interest Expense 1 12 52 25
Other Income, Net 3   2 1
Gain (Loss) on Derivatives 1 (8) 15 (108)
Income (Loss) Before Income Taxes (1,281) 347 (1,154) 670
Provision (Benefit) for Income Taxes:        
Current 7 3 7 2
Deferred (500) 137 (451) 267
Total Provision (Benefit) for Income Taxes (493) 140 (444) 269
Net Income (Loss) (788) 207 (710) 401
Mandatory convertible preferred stock dividend 27   52  
Net Income (Loss) Attributable to Common Stock $ (815) $ 207 $ (762) $ 401
Earnings (Loss) Per Common Share:        
Basic $ (2.13) $ 0.59 $ (2.01) $ 1.14
Diluted $ (2.13) $ 0.59 $ (2.01) $ 1.14
Weighted Average Common Shares Outstanding:        
Basic 382,114,011 351,391,582 378,797,446 351,307,527
Diluted 382,114,011 352,579,522 378,797,446 352,306,268