CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 1,382	$ 1,423
Accounts receivable, net	310	363
Derivative assets	58	51
Other current assets	39	35
Total current assets	1,789	1,872
Natural gas and oil properties, using the full cost method, including $2,078 million as of March 31, 2017 and $2,105 million as of December 31, 2016 excluded from amortization	22,942	22,653
Gathering systems	1,306	1,299
Other	536	537
Less: Accumulated depreciation, depletion and amortization	(19,641)	(19,534)
Total property and equipment, net	5,143	4,955
Other long-term assets	264	249
TOTAL ASSETS	7,196	7,076
Current liabilities:
Short-term debt	266	41
Accounts payable	436	473
Taxes payable	50	59
Interest payable	29	74
Dividends payable	27	27
Derivative liabilities	280	355
Other current liabilities	33	35
Total current liabilities	1,121	1,064
Long-term debt	4,364	4,612
Pension and other postretirement liabilities	47	49
Other long-term liabilities	386	434
Total long-term liabilities	4,797	5,095
Commitments and contingencies (Note 10)
Equity:
Common stock, $0.01 par value; 1,250,000,000 shares authorized; issued 502,497,469 shares as of March 31, 2017 (does not include 3,348,214 shares issued on April 17, 2017 on account of a dividend declared on March 21, 2017) and 495,248,369 as of December 31, 2016	5	5
Preferred stock, $0.01 par value, 10,000,000 shares authorized, 6.25% Series B Mandatory Convertible, $1,000 per share liquidation preference, 1,725,000 shares issued and outstanding as of March 31, 2017 and December 31, 2016, conversion in January 2018
Additional paid-in capital	4,687	4,677
Accumulated deficit	(3,374)	(3,725)
Accumulated other comprehensive loss	(39)	(39)
Common stock in treasury, 31,269 shares as of March 31, 2017 and December 31, 2016	(1)	(1)
Total equity	1,278	917
TOTAL LIABILITIES AND EQUITY	$ 7,196	$ 7,076