CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 15	$ 53
Accounts receivable, net	327	530
Inventories	3	37
Derivative assets	3	337
Other current assets	45	158
Total current assets	393	1,115
Natural gas and oil properties, using the full cost method, including $3,727 million in 2015 and $4,646 million in 2014 excluded from amortization	22,478	20,506
Gathering systems	1,280	1,439
Other	606	612
Less: Accumulated depreciation, depletion and amortization	(16,821)	(8,845)
Total property and equipment, net	7,543	13,712
Other long-term assets	174	98
TOTAL ASSETS	8,110	14,925
Current liabilities:
Short-term debt	1	4,501
Accounts payable	513	653
Taxes payable	64	92
Interest payable	75	34
Current deferred income taxes		$ 109
Dividends payable	27
Derivative liabilities	3	$ 9
Other current liabilities	24	30
Total current liabilities	707	5,428
Long-term debt	4,728	2,466
Deferred income taxes		1,951
Pension and other postretirement liabilities	50	44
Other long-term liabilities	343	374
Total long-term liabilities	$ 5,121	$ 4,835
Commitments and contingencies (see Note 9)
Equity:
Common stock, $0.01 par value; 1,250,000,000 shares authorized; issued 390,138,549 shares in 2015 and 354,488,992 in 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 as of December 31, 2015
Additional paid-in capital	$ 3,409	$ 1,019
Retained earnings (Accumulated deficit)	(1,082)	3,577
Accumulated other comprehensive income (loss)	(48)	$ 62
Common stock in treasury, 47,149 and 11,055 shares as of December 31, 2015 and 2014, respectively	(1)
Total equity	2,282	$ 4,662
TOTAL LIABILITIES AND EQUITY	$ 8,110	$ 14,925