CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents ($1 and $1 attributable to our VIE)	$ 13	$ 882
Accounts receivable, net	1,019	1,057
Short-term derivative assets	71	0
Other current assets	144	203
Total Current Assets	1,247	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)	67,419	66,451
Unproved properties	4,096	4,802
Other property and equipment	2,020	2,053
Total Property and Equipment, at Cost	73,535	73,306
Less: accumulated depreciation, depletion and amortization (($459) and ($458) attributable to our VIE)	(63,138)	(62,726)
Property and equipment held for sale, net	21	29
Total Property and Equipment, Net	10,418	10,609
LONG-TERM ASSETS:
Long-term derivative assets	14	0
Other long-term assets	241	277
TOTAL ASSETS	11,920	13,028
CURRENT LIABILITIES:
Accounts payable	718	672
Current maturities of long-term debt, net	3	503
Accrued interest	137	113
Short-term derivative liabilities	3	562
Other current liabilities ($4 and $3 attributable to our VIE)	1,297	1,798
Total Current Liabilities	2,158	3,648
LONG-TERM LIABILITIES:
Long-term debt, net	9,850	9,938
Long-term derivative liabilities	1	15
Asset retirement obligations, net of current portion	221	247
Other long-term liabilities	374	383
Total Long-Term Liabilities	10,446	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, 2,000,000,000 and 1,500,000,000 shares authorized: 907,977,114 and 896,279,353 shares issued	9	9
Additional paid-in capital	14,458	14,486
Accumulated deficit	(16,969)	(17,603)
Accumulated other comprehensive loss	(75)	(96)
Less: treasury stock, at cost; 2,336,327 and 1,220,504 common shares	(32)	(27)
Total Chesapeake Stockholders’ Equity (Deficit)	(938)	(1,460)
Noncontrolling interests	254	257
Total Equity (Deficit)	(684)	(1,203)
TOTAL LIABILITIES AND EQUITY	$ 11,920	$ 13,028