CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents ($1 and $1 attributable to our VIE)	$ 16	$ 825
Accounts receivable, net	937	1,129
Short-term derivative assets	350	366
Other current assets	189	160
Total Current Assets	1,492	2,480
Oil and natural gas properties, at cost based on full cost accounting:
Proved oil and natural gas properties ($488 and $488 attributable to our VIE)	64,305	63,843
Unproved properties	6,612	6,798
Other property and equipment	2,749	2,927
Total Property and Equipment, at Cost	73,666	73,568
Less: accumulated depreciation, depletion and amortization (($445) and ($428) attributable to our VIE)	(60,506)	(59,365)
Property and equipment held for sale, net	131	95
Total Property and Equipment, Net	13,291	14,298
LONG-TERM ASSETS:
Long-term derivative assets	263	246
Other long-term assets	311	290
TOTAL ASSETS	15,357	17,314
CURRENT LIABILITIES:
Accounts payable	723	944
Current maturities of long-term debt, net	343	381
Accrued interest	137	101
Short-term derivative liabilities	86	40
Other current liabilities ($2 and $8 attributable to our VIE)	1,544	2,219
Total Current Liabilities	2,833	3,685
LONG-TERM LIABILITIES:
Long-term debt, net	10,062	10,311
Long-term derivative liabilities	12	60
Asset retirement obligations, net of current portion	453	452
Other long-term liabilities	426	409
Total Long-Term Liabilities	10,953	11,232
Chesapeake Stockholders’ Equity:
Preferred stock, $0.01 par value, 20,000,000 shares authorized: 7,225,713 and 7,251,515 shares outstanding	3,036	3,062
Common stock, $0.01 par value, 1,000,000,000 shares authorized: 684,560,678 and 664,795,509 shares issued	7	7
Additional paid-in capital	12,521	12,403
Accumulated deficit	(14,123)	(13,202)
Accumulated other comprehensive loss	(99)	(99)
Less: treasury stock, at cost; 1,384,506 and 1,437,724 common shares	(31)	(33)
Total Chesapeake Stockholders’ Equity	1,311	2,138
Noncontrolling interests	260	259
Total Equity	1,571	2,397
TOTAL LIABILITIES AND EQUITY	$ 15,357	$ 17,314