CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents ($1 and $1 attributable to our VIE)	$ 882	$ 825
Accounts receivable, net	1,057	1,129
Short-term derivative assets	0	366
Other current assets	203	160
Total Current Assets	2,142	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)	66,451	63,843
Unproved properties	4,802	6,798
Other property and equipment	2,053	2,927
Total Property and Equipment, at Cost	73,306	73,568
Less: accumulated depreciation, depletion and amortization (($458) and ($428) attributable to our VIE)	(62,726)	(59,365)
Property and equipment held for sale, net	29	95
Total Property and Equipment, Net	10,609	14,298
LONG-TERM ASSETS:
Long-term derivative assets	0	246
Other long-term assets	277	290
TOTAL ASSETS	13,028	17,314
CURRENT LIABILITIES:
Accounts payable	672	944
Current maturities of long-term debt, net	503	381
Accrued interest	113	101
Short-term derivative liabilities	562	40
Other current liabilities ($3 and $8 attributable to our VIE)	1,798	2,219
Total Current Liabilities	3,648	3,685
LONG-TERM LIABILITIES:
Long-term debt, net	9,938	10,311
Long-term derivative liabilities	15	60
Asset retirement obligations, net of current portion	247	452
Other long-term liabilities	383	409
Total Long-Term Liabilities	10,583	11,232
CONTINGENCIES AND COMMITMENTS (Note 4)
Chesapeake Stockholders’ Equity:
Preferred stock, $0.01 par value, 20,000,000 shares authorized: 5,839,506 and 7,251,515 shares outstanding	1,771	3,062
Common stock, $0.01 par value, 1,500,000,000 and 1,000,000,000 shares authorized: 896,279,353 and 664,795,509 shares issued	9	7
Additional paid-in capital	14,486	12,403
Accumulated deficit	(17,603)	(13,202)
Accumulated other comprehensive loss	(96)	(99)
Less: treasury stock, at cost; 1,220,504 and 1,437,724 common shares	(27)	(33)
Total Chesapeake Stockholders’ Equity (Deficit)	(1,460)	2,138
Noncontrolling interests	257	259
Total Equity (Deficit)	(1,203)	2,397
TOTAL LIABILITIES AND EQUITY	$ 13,028	$ 17,314