CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents ($1 and $1 attributable to our VIE)	$ 4	$ 825
Accounts receivable, net	952	1,129
Short-term derivative assets	30	366
Other current assets	218	160
Total Current Assets	1,204	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)	64,547	63,843
Unproved properties	6,172	6,798
Other property and equipment	2,631	2,927
Total Property and Equipment, at Cost	73,350	73,568
Less: accumulated depreciation, depletion and amortization (($456) and ($428) attributable to our VIE)	(61,757)	(59,365)
Property and equipment held for sale, net	92	95
Total Property and Equipment, Net	11,685	14,298
LONG-TERM ASSETS:
Long-term derivative assets	250	246
Other long-term assets	348	290
TOTAL ASSETS	13,487	17,314
CURRENT LIABILITIES:
Accounts payable	702	944
Current maturities of long-term debt, net	1,028	381
Accrued interest	100	101
Short-term derivative liabilities	315	40
Other current liabilities ($0 and $8 attributable to our VIE)	1,632	2,219
Total Current Liabilities	3,777	3,685
LONG-TERM LIABILITIES:
Long-term debt, net	8,621	10,311
Long-term derivative liabilities	41	60
Asset retirement obligations, net of current portion	400	452
Other long-term liabilities	419	409
Total Long-Term Liabilities	9,481	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, 1,500,000,000 and 1,000,000,000 shares authorized: 776,697,583 and 664,795,509 shares issued	8	7
Additional paid-in capital	12,930	12,403
Accumulated deficit	(15,873)	(13,202)
Accumulated other comprehensive loss	(104)	(99)
Less: treasury stock, at cost; 1,303,020 and 1,437,724 common shares	(29)	(33)
Total Chesapeake Stockholders’ Equity (Deficit)	(32)	2,138
Noncontrolling interests	261	259
Total Equity	229	2,397
TOTAL LIABILITIES AND EQUITY	$ 13,487	$ 17,314