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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 29 $ 21
Accounts receivable, net 491 680
Derivative assets 640 614
Other current assets 91 100
Total current assets 1,251 1,415
Natural gas and oil properties, using the full cost method, including $2,037 million as of March 31, 2024 and $2,075 million as of December 31, 2023 excluded from amortization 38,308 37,772
Other 573 566
Less: Accumulated depreciation, depletion and amortization (30,784) (28,425)
Total property and equipment, net 8,097 9,913
Operating lease assets 144 154
Long-term derivative assets 131 175
Deferred tax assets 674 238
Other long-term assets 101 96
Total long-term assets 1,050 663
TOTAL ASSETS 10,398 11,991
Current liabilities:    
Current portion of long-term debt 389 0
Accounts payable 1,299 1,384
Taxes payable 123 128
Interest payable 26 77
Derivative liabilities 116 79
Current operating lease liabilities 43 44
Other current liabilities 28 17
Total current liabilities 2,024 1,729
Long-term debt 3,609 3,947
Long-term operating lease liabilities 100 107
Long-term derivative liabilities 75 100
Other long-term liabilities 224 220
Total long-term liabilities 4,008 4,374
Commitments and contingencies (Note 11)
Equity:    
Common stock, $0.01 par value; 2,500,000,000 shares authorized; issued 1,164,459,599 shares as of March 31, 2024 and 1,163,077,745 shares as of December 31, 2023 12 12
Additional paid-in capital 7,199 7,188
Accumulated deficit (2,517) (982)
Accumulated other comprehensive loss (1) (3)
Common stock in treasury, 61,614,693 shares as of March 31, 2024 and December 31, 2023 (327) (327)
Total equity 4,366 5,888
TOTAL LIABILITIES AND EQUITY $ 10,398 $ 11,991