CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents ($1 and $1 attributable to our VIE)	$ 249	$ 882
Accounts receivable, net	943	1,057
Short-term derivative assets	1	0
Other current assets	167	203
Total Current Assets	1,360	2,142
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)	66,847	66,451
Unproved properties	4,110	4,802
Other property and equipment	2,045	2,053
Total Property and Equipment, at Cost	73,002	73,306
Less: accumulated depreciation, depletion and amortization (($459) and ($458) attributable to our VIE)	(62,934)	(62,726)
Property and equipment held for sale, net	13	29
Total Property and Equipment, Net	10,081	10,609
LONG-TERM ASSETS:
Long-term derivative assets	7	0
Other long-term assets	251	277
TOTAL ASSETS	11,699	13,028
CURRENT LIABILITIES:
Accounts payable	678	672
Current maturities of long-term debt, net	15	503
Accrued interest	140	113
Short-term derivative liabilities	157	562
Other current liabilities ($3 and $3 attributable to our VIE)	1,798	1,798
Total Current Liabilities	2,788	3,648
LONG-TERM LIABILITIES:
Long-term debt, net	9,509	9,938
Long-term derivative liabilities	1	15
Asset retirement obligations, net of current portion	236	247
Other long-term liabilities	368	383
Total Long-Term Liabilities	10,114	10,583
CONTINGENCIES AND COMMITMENTS (Note 4)
Chesapeake Stockholders’ Equity:
Preferred stock, $0.01 par value, 20,000,000 shares authorized: 5,603,458 and 5,839,506 shares outstanding	1,671	1,771
Common stock, $0.01 par value, 1,500,000,000 shares authorized: 908,042,914 and 896,279,353 shares issued	9	9
Additional paid-in capital	14,439	14,486
Accumulated deficit	(17,463)	(17,603)
Accumulated other comprehensive loss	(82)	(96)
Less: treasury stock, at cost; 2,368,008 and 1,220,504 common shares	(33)	(27)
Total Chesapeake Stockholders’ Equity (Deficit)	(1,459)	(1,460)
Noncontrolling interests	256	257
Total Equity (Deficit)	(1,203)	(1,203)
TOTAL LIABILITIES AND EQUITY	$ 11,699	$ 13,028