CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,597	$ 15
Accounts receivable, net	224	327
Derivative assets	35	3
Other current assets	28	48
Total current assets	1,884	393
Natural gas and oil properties, using the full cost method, including $3,505 million as of March 31, 2016 and $3,727 million as of December 31, 2015 excluded from amortization	22,610	22,478
Gathering systems	1,281	1,280
Other	602	606
Less: Accumulated depreciation, depletion and amortization	(18,002)	(16,821)
Total property and equipment, net	6,491	7,543
Other long-term assets	143	150
TOTAL ASSETS	8,518	8,086
Current liabilities:
Short-term debt	1	1
Accounts payable	346	513
Taxes payable	52	64
Interest payable	32	75
Dividends payable	27	27
Derivative liabilities	8	3
Other current liabilities	12	24
Total current liabilities	478	707
Long-term debt	6,442	4,704
Deferred income taxes	2
Pension and other postretirement liabilities	50	50
Other long-term liabilities	398	343
Total long-term liabilities	$ 6,892	$ 5,097
Commitments and contingencies (Note 11)
Equity:
Common stock, $0.01 par value; 1,250,000,000 shares authorized; issued 389,673,678 shares as of March 31, 2016 (does not include 3,024,737 shares declared as a stock dividend on March 16, 2016 and issued on April 15, 2016) and 390,138,549 as of December 31, 2015	$ 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 March 31, 2016 and December 31, 2015
Additional paid-in capital	$ 3,403	$ 3,409
Accumulated deficit	(2,214)	(1,082)
Accumulated other comprehensive loss	(44)	(48)
Common stock in treasury, 31,269 shares as of March 31, 2016 and 47,149 shares as of December 31, 2015, respectively	(1)	(1)
Total equity	1,148	2,282
TOTAL LIABILITIES AND EQUITY	$ 8,518	$ 8,086