CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,423	$ 15
Accounts receivable, net	363	327
Derivative assets	51	3
Other current assets	35	48
Total current assets	1,872	393
Natural gas and oil properties, using the full cost method, including $2,105 million as of December 31, 2016 and $3,727 million as of December 31, 2015 excluded from amortization	22,653	22,478
Gathering systems	1,299	1,280
Other	537	606
Less: Accumulated depreciation, depletion and amortization	(19,534)	(16,821)
Total property and equipment, net	4,955	7,543
Other long-term assets	249	150
TOTAL ASSETS	7,076	8,086
Current liabilities:
Short-term debt	41	1
Accounts payable	473	513
Taxes payable	59	64
Interest payable	74	75
Dividends payable	27	27
Derivative liabilities	355	3
Other current liabilities	35	24
Total current liabilities	1,064	707
Long-term debt	4,612	4,704
Pension and other postretirement liabilities	49	50
Other long-term liabilities	434	343
Total long-term liabilities	5,095	5,097
Commitments and contingencies (see Note 8)
Equity:
Common stock, $0.01 par value; 1,250,000,000 shares authorized; issued 495,248,369 shares as of December 31, 2016 (does not include 2,751,410 shares issued on January 17, 2017 on account of a dividend declared on December 12, 2016) and 390,138,549 as of December 31, 2015	5	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, 2016 and 2015, conversion in January 2018
Additional paid-in capital	4,677	3,409
Accumulated deficit	(3,725)	(1,082)
Accumulated other comprehensive loss	(39)	(48)
Common stock in treasury, 31,269 and 47,149 shares as of December 31, 2016 and 2015, respectively	(1)	(1)
Total equity	917	2,282
TOTAL LIABILITIES AND EQUITY	$ 7,076	$ 8,086