CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 37	$ 53
Accounts receivable	386	530
Inventories	34	37
Derivative assets	185	337
Other current assets	57	158
Total current assets	699	1,115
Natural gas and oil properties, using the full cost method, including $4,819 million as of June 30, 2015 and $4,646 million as of December 31, 2014 excluded from amortization	21,663	20,506
Gathering systems	1,267	1,439
Other	619	612
Less: Accumulated depreciation, depletion and amortization	(10,934)	(8,845)
Total property and equipment, net	12,615	13,712
Other long-term assets	190	98
TOTAL ASSETS	13,504	14,925
Current liabilities:
Short-term debt	1	4,501
Accounts payable	578	653
Taxes payable	62	92
Interest payable	76	34
Current deferred income taxes	50	109
Dividends payable	27
Derivative liabilities	9	9
Other current liabilities	37	30
Total current liabilities	840	5,428
Long-term debt	4,539	2,466
Deferred income taxes	1,522	1,951
Pension and other postretirement liabilities	46	44
Other long-term liabilities	339	374
Total long-term liabilities	$ 6,446	$ 4,835
Commitments and contingencies (Note 10)
Equity:
Common stock, $0.01 par value; authorized 1,250,000,000 shares; issued 384,536,339 shares as of June 30, 2015 and 354,488,992 as of December 31, 2014	$ 4	$ 4
Preferred stock, $0.01 par value, 10,000,000 shares authorized, 6.25% Series B Mandatory Convertible, $1,000 per share liquidation preference, 1,725,000 shares issued and outstanding
Additional paid-in capital	$ 3,384	$ 1,019
Retained earnings	2,818	3,577
Accumulated other comprehensive income	13	$ 62
Common stock in treasury, 45,787 shares as of June 30, 2015 and 11,055 shares as of December 31, 2014	(1)
Total equity	6,218	$ 4,662
TOTAL LIABILITIES AND EQUITY	$ 13,504	$ 14,925