CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 998	$ 15
Accounts receivable, net	235	327
Derivative assets	16	3
Other current assets	29	48
Total current assets	1,278	393
Natural gas and oil properties, using the full cost method, including $3,382 million as of June 30, 2016 and $3,727 million as of December 31, 2015 excluded from amortization	22,657	22,478
Gathering systems	1,280	1,280
Other	592	606
Less: Accumulated depreciation, depletion and amortization	(18,582)	(16,821)
Total property and equipment, net	5,947	7,543
Other long-term assets	152	150
TOTAL ASSETS	7,377	8,086
Current liabilities:
Short-term debt	1	1
Accounts payable	296	513
Taxes payable	61	64
Interest payable	75	75
Dividends payable	27	27
Derivative liabilities	76	3
Other current liabilities	55	24
Total current liabilities	591	707
Long-term debt	5,767	4,704
Pension and other postretirement liabilities	51	50
Other long-term liabilities	395	343
Total long-term liabilities	6,213	5,097
Commitments and contingencies (Note 11)
Equity:
Common stock, $0.01 par value; 1,250,000,000 shares authorized; issued 392,496,825 (1) shares as of June 30, 2016 (does not include 2,100,119 shares declared as a stock dividend on June 14, 2016 to be issued on July 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 June 30, 2016 and December 31, 2015, conversion in January 2018
Additional paid-in capital	3,418	3,409
Accumulated deficit	(2,807)	(1,082)
Accumulated other comprehensive loss	(41)	(48)
Common stock in treasury, 31,269 shares as of June 30, 2016 and 47,149 shares as of December 31, 2015, respectively	(1)	(1)
Total equity	573	2,282
TOTAL LIABILITIES AND EQUITY	$ 7,377	$ 8,086