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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 15 $ 21
Accounts receivable, net 544 680
Derivative assets 363 614
Other current assets 89 100
Total current assets 1,011 1,415
Natural gas and oil properties, using the full cost method, including $1,892 million as of June 30, 2024 and $2,075 million as of December 31, 2023 excluded from amortization 38,737 37,772
Other 578 566
Less: Accumulated depreciation, depletion and amortization (31,645) (28,425)
Total property and equipment, net 7,670 9,913
Operating lease assets 136 154
Long-term derivative assets 80 175
Deferred tax assets 849 238
Other long-term assets 104 96
Total long-term assets 1,169 663
TOTAL ASSETS 9,850 11,991
Current liabilities:    
Current portion of long-term debt 389 0
Accounts payable 1,170 1,384
Taxes payable 125 128
Interest payable 77 77
Derivative liabilities 89 79
Current operating lease liabilities 42 44
Other current liabilities 30 17
Total current liabilities 1,922 1,729
Long-term debt 3,784 3,947
Long-term operating lease liabilities 93 107
Long-term derivative liabilities 59 100
Other long-term liabilities 227 220
Total long-term liabilities 4,163 4,374
Commitments and contingencies (Note 10)
Equity:    
Common stock, $0.01 par value; 2,500,000,000 shares authorized; issued 1,164,596,399 shares as of June 30, 2024 and 1,163,077,745 shares as of December 31, 2023 12 12
Additional paid-in capital 7,206 7,188
Accumulated deficit (3,125) (982)
Accumulated other comprehensive loss (1) (3)
Common stock in treasury, 61,614,693 shares as of June 30, 2024 and December 31, 2023 (327) (327)
Total equity 3,765 5,888
TOTAL LIABILITIES AND EQUITY $ 9,850 $ 11,991