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Condensed Consolidating Financial Information (Tables) | 9 Months Ended
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Sep. 30, 2018
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidated Balance Sheets | CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 6 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | (4 | ) |  | $ | 4 |
Other current assets |  | 69 |  |  | 1,160 |  |  | 2 |  |  | — |  |  | 1,231 |
Intercompany receivable, net |  | 8,003 |  |  | 29 |  |  | 176 |  |  | (8,208 | ) |  | — |
Total Current Assets |  | 8,078 |  |  | 1,190 |  |  | 179 |  |  | (8,212 | ) |  | 1,235 |
PROPERTY AND EQUIPMENT: |  |  |  |  |  |  |  |  |  |
Oil and natural gas properties at cost, based on full cost accounting, net |  | 563 |  |  | 9,433 |  |  | 25 |  |  | — |  |  | 10,021 |
Other property and equipment, net |  | — |  |  | 1,109 |  |  | — |  |  | — |  |  | 1,109 |
Property and equipment held for sale, net |  | — |  |  | 47 |  |  | — |  |  | — |  |  | 47 |
Total Property and Equipment, Net |  | 563 |  |  | 10,589 |  |  | 25 |  |  | — |  |  | 11,177 |
LONG-TERM ASSETS: |  |  |  |  |  |  |  |  |  |
Other long-term assets |  | 29 |  |  | 218 |  |  | — |  |  | — |  |  | 247 |
Investments in subsidiaries and intercompany advances |  | 1,193 |  |  | 79 |  |  | — |  |  | (1,272 | ) |  | — |
TOTAL ASSETS |  | $ | 9,863 |  |  | $ | 12,076 |  |  | $ | 204 |  |  | $ | (9,484 | ) |  | $ | 12,659 |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 563 |  |  | $ | 2,415 |  |  | $ | 2 |  |  | $ | (4 | ) |  | $ | 2,976 |
Intercompany payable, net |  | 29 |  |  | 8,179 |  |  | — |  |  | (8,208 | ) |  | — |
Total Current Liabilities |  | 592 |  |  | 10,594 |  |  | 2 |  |  | (8,212 | ) |  | 2,976 |
LONG-TERM LIABILITIES: |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 9,380 |  |  | — |  |  | — |  |  | — |  |  | 9,380 |
Other long-term liabilities |  | 53 |  |  | 289 |  |  | — |  |  | — |  |  | 342 |
Total Long-Term Liabilities |  | 9,433 |  |  | 289 |  |  | — |  |  | — |  |  | 9,722 |
EQUITY: |  |  |  |  |  |  |  |  |  |
Chesapeake stockholders’ equity (deficit) |  | (162 | ) |  | 1,193 |  |  | 79 |  |  | (1,272 | ) |  | (162 | )
Noncontrolling interests |  | — |  |  | — |  |  | 123 |  |  | — |  |  | 123 |
Total Equity (Deficit) |  | (162 | ) |  | 1,193 |  |  | 202 |  |  | (1,272 | ) |  | (39 | )
TOTAL LIABILITIES AND EQUITY |  | $ | 9,863 |  |  | $ | 12,076 |  |  | $ | 204 |  |  | $ | (9,484 | ) |  | $ | 12,659 |
CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2017 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 5 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | (3 | ) |  | $ | 5 |
Other current assets |  | 154 |  |  | 1,364 |  |  | 3 |  |  | (1 | ) |  | 1,520 |
Intercompany receivable, net |  | 8,697 |  |  | 436 |  |  | — |  |  | (9,133 | ) |  | — |
Total Current Assets |  | 8,856 |  |  | 1,801 |  |  | 5 |  |  | (9,137 | ) |  | 1,525 |
PROPERTY AND EQUIPMENT: |  |  |  |  |  |  |  |  |  |
Oil and natural gas properties at cost, based on full cost accounting, net |  | 435 |  |  | 8,888 |  |  | 27 |  |  | — |  |  | 9,350 |
Other property and equipment, net |  | — |  |  | 1,314 |  |  | — |  |  | — |  |  | 1,314 |
Property and equipment held for sale, net |  | — |  |  | 16 |  |  | — |  |  | — |  |  | 16 |
Total Property and Equipment, Net |  | 435 |  |  | 10,218 |  |  | 27 |  |  | — |  |  | 10,680 |
LONG-TERM ASSETS: |  |  |  |  |  |  |  |  |  |
Other long-term assets |  | 52 |  |  | 168 |  |  | — |  |  | — |  |  | 220 |
Investments in subsidiaries and intercompany advances |  | 806 |  |  | (146 | ) |  | — |  |  | (660 | ) |  | — |
TOTAL ASSETS |  | $ | 10,149 |  |  | $ | 12,041 |  |  | $ | 32 |  |  | $ | (9,797 | ) |  | $ | 12,425 |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 190 |  |  | $ | 2,168 |  |  | $ | 2 |  |  | $ | (4 | ) |  | $ | 2,356 |
Intercompany payable, net |  | 433 |  |  | 8,648 |  |  | 52 |  |  | (9,133 | ) |  | — |
Total Current Liabilities |  | 623 |  |  | 10,816 |  |  | 54 |  |  | (9,137 | ) |  | 2,356 |
LONG-TERM LIABILITIES: |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 9,921 |  |  | — |  |  | — |  |  | — |  |  | 9,921 |
Other long-term liabilities |  | 101 |  |  | 419 |  |  | — |  |  | — |  |  | 520 |
Total Long-Term Liabilities |  | 10,022 |  |  | 419 |  |  | — |  |  | — |  |  | 10,441 |
EQUITY: |  |  |  |  |  |  |  |  |  |
Chesapeake stockholders’ equity (deficit) |  | (496 | ) |  | 806 |  |  | (146 | ) |  | (660 | ) |  | (496 | )
Noncontrolling interests |  | — |  |  | — |  |  | 124 |  |  | — |  |  | 124 |
Total Equity (Deficit) |  | (496 | ) |  | 806 |  |  | (22 | ) |  | (660 | ) |  | (372 | )
TOTAL LIABILITIES AND EQUITY |  | $ | 10,149 |  |  | $ | 12,041 |  |  | $ | 32 |  |  | $ | (9,797 | ) |  | $ | 12,425 |
Condensed Consolidated Income Statements | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 1,194 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 1,199 |
Marketing |  | — |  |  | 1,219 |  |  | — |  |  | — |  |  | 1,219 |
Total Revenues |  | — |  |  | 2,413 |  |  | 5 |  |  | — |  |  | 2,418 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 132 |  |  | — |  |  | — |  |  | 132 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 362 |  |  | 2 |  |  | — |  |  | 364 |
Production taxes |  | — |  |  | 33 |  |  | 1 |  |  | — |  |  | 34 |
Marketing |  | — |  |  | 1,238 |  |  | — |  |  | — |  |  | 1,238 |
General and administrative |  | — |  |  | 66 |  |  | — |  |  | — |  |  | 66 |
Provision for legal contingencies, net |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 8 |
Oil, natural gas and NGL depreciation, depletion and amortization |  | — |  |  | 274 |  |  | — |  |  | — |  |  | 274 |
Depreciation and amortization of other assets |  | — |  |  | 17 |  |  | — |  |  | — |  |  | 17 |
Impairments |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 5 |
Total Operating Expenses |  | — |  |  | 2,135 |  |  | 3 |  |  | — |  |  | 2,138 |
INCOME FROM OPERATIONS |  | — |  |  | 278 |  |  | 2 |  |  | — |  |  | 280 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (125 | ) |  | (2 | ) |  | — |  |  | — |  |  | (127 | )
Losses on purchases or exchanges of debt |  | (68 | ) |  | — |  |  | — |  |  | — |  |  | (68 | )
Other income |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Equity in net earnings of subsidiary |  | 278 |  |  | 1 |  |  | — |  |  | (279 | ) |  | — |
Total Other Income (Expense) |  | 85 |  |  | — |  |  | — |  |  | (279 | ) |  | (194 | )
INCOME BEFORE INCOME TAXES |  | 85 |  |  | 278 |  |  | 2 |  |  | (279 | ) |  | 86 |
INCOME TAX EXPENSE |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
NET INCOME |  | 84 |  |  | 278 |  |  | 2 |  |  | (279 | ) |  | 85 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 84 |  |  | 278 |  |  | 1 |  |  | (279 | ) |  | 84 |
Other comprehensive income |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 8 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 84 |  |  | $ | 286 |  |  | $ | 1 |  |  | $ | (279 | ) |  | $ | 92 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2017 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 974 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 979 |
Marketing |  | — |  |  | 964 |  |  | — |  |  | — |  |  | 964 |
Total Revenues |  | — |  |  | 1,938 |  |  | 5 |  |  | — |  |  | 1,943 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 151 |  |  | — |  |  | — |  |  | 151 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 367 |  |  | 2 |  |  | — |  |  | 369 |
Production taxes |  | — |  |  | 20 |  |  | 1 |  |  | — |  |  | 21 |
Marketing |  | — |  |  | 978 |  |  | — |  |  | — |  |  | 978 |
General and administrative |  | — |  |  | 54 |  |  | — |  |  | — |  |  | 54 |
Provision for legal contingencies, net |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 20 |
Oil, natural gas and NGL depreciation, depletion and amortization |  | — |  |  | 227 |  |  | 1 |  |  | — |  |  | 228 |
Depreciation and amortization of other assets |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 20 |
Impairments |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Net gains on sales of fixed assets |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | (1 | )
Other operating expense |  | — |  |  | 6 |  |  | — |  |  | — |  |  | 6 |
Total Operating Expenses |  | — |  |  | 1,845 |  |  | 4 |  |  | — |  |  | 1,849 |
INCOME FROM OPERATIONS |  | — |  |  | 93 |  |  | 1 |  |  | — |  |  | 94 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (110 | ) |  | (4 | ) |  | — |  |  | — |  |  | (114 | )
Losses on purchases or exchanges of debt |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Other income |  | 1 |  |  | 3 |  |  | — |  |  | — |  |  | 4 |
Equity in net earnings of subsidiary |  | 92 |  |  | — |  |  | — |  |  | (92 | ) |  | — |
Total Other Income (Expense) |  | (18 | ) |  | (1 | ) |  | — |  |  | (92 | ) |  | (111 | )
INCOME (LOSS) BEFORE INCOME TAXES |  | (18 | ) |  | 92 |  |  | 1 |  |  | (92 | ) |  | (17 | )
INCOME TAX EXPENSE |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NET INCOME (LOSS) |  | (18 | ) |  | 92 |  |  | 1 |  |  | (92 | ) |  | (17 | )
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE |  | (18 | ) |  | 92 |  |  | — |  |  | (92 | ) |  | (18 | )
Other comprehensive income |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 8 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE |  | $ | (18 | ) |  | $ | 100 |  |  | $ | — |  |  | $ | (92 | ) |  | $ | (10 | )
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 3,410 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 3,424 |
Marketing |  | — |  |  | 3,738 |  |  | — |  |  | — |  |  | 3,738 |
Total Revenues |  | — |  |  | 7,148 |  |  | 14 |  |  | — |  |  | 7,162 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 417 |  |  | — |  |  | — |  |  | 417 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 1,055 |  |  | 5 |  |  | — |  |  | 1,060 |
Production taxes |  | — |  |  | 90 |  |  | 1 |  |  | — |  |  | 91 |
Marketing |  | — |  |  | 3,798 |  |  | — |  |  | — |  |  | 3,798 |
General and administrative |  | — |  |  | 228 |  |  | 1 |  |  | — |  |  | 229 |
Restructuring and other termination costs |  | — |  |  | 38 |  |  | — |  |  | — |  |  | 38 |
Provision for legal contingencies, net |  | — |  |  | 17 |  |  | — |  |  | — |  |  | 17 |
Oil, natural gas and NGL depreciation, depletion and amortization |  | — |  |  | 811 |  |  | 2 |  |  | — |  |  | 813 |
Depreciation and amortization of other assets |  | — |  |  | 54 |  |  | — |  |  | — |  |  | 54 |
Impairments |  | — |  |  | 51 |  |  | — |  |  | — |  |  | 51 |
Other operating income |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | (1 | )
Net losses on sales of fixed assets |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 7 |
Total Operating Expenses |  | — |  |  | 6,565 |  |  | 9 |  |  | — |  |  | 6,574 |
INCOME FROM OPERATIONS |  | — |  |  | 583 |  |  | 5 |  |  | — |  |  | 588 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (365 | ) |  | (2 | ) |  | — |  |  | — |  |  | (367 | )
Gains on investments |  | — |  |  | 139 |  |  | — |  |  | — |  |  | 139 |
Losses on exchanges or repurchases of debt |  | (68 | ) |  | — |  |  | — |  |  | — |  |  | (68 | )
Other income |  | — |  |  | 63 |  |  | — |  |  | — |  |  | 63 |
Equity in net earnings of subsidiary |  | 785 |  |  | 2 |  |  | — |  |  | (787 | ) |  | — |
Total Other Income (Expense) |  | 352 |  |  | 202 |  |  | — |  |  | (787 | ) |  | (233 | )
INCOME BEFORE INCOME TAXES |  | 352 |  |  | 785 |  |  | 5 |  |  | (787 | ) |  | 355 |
INCOME TAX BENEFIT |  | (8 | ) |  | — |  |  | — |  |  | — |  |  | (8 | )
NET INCOME |  | 360 |  |  | 785 |  |  | 5 |  |  | (787 | ) |  | 363 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 360 |  |  | 785 |  |  | 2 |  |  | (787 | ) |  | 360 |
Other comprehensive income |  | — |  |  | 25 |  |  | — |  |  | — |  |  | 25 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 360 |  |  | $ | 810 |  |  | $ | 2 |  |  | $ | (787 | ) |  | $ | 385 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2017 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 3,710 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 3,727 |
Marketing |  | — |  |  | 3,250 |  |  | — |  |  | — |  |  | 3,250 |
Total Revenues |  | — |  |  | 6,960 |  |  | 17 |  |  | — |  |  | 6,977 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 426 |  |  | — |  |  | — |  |  | 426 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 1,075 |  |  | 6 |  |  | — |  |  | 1,081 |
Production taxes |  | — |  |  | 63 |  |  | 1 |  |  | — |  |  | 64 |
Marketing |  | — |  |  | 3,333 |  |  | — |  |  | — |  |  | 3,333 |
General and administrative |  | 3 |  |  | 185 |  |  | 1 |  |  | — |  |  | 189 |
Provision for legal contingencies, net |  | — |  |  | 35 |  |  | — |  |  | — |  |  | 35 |
Oil, natural gas and NGL depreciation, depletion and amortization |  | — |  |  | 624 |  |  | 3 |  |  | — |  |  | 627 |
Depreciation and amortization of other assets |  | — |  |  | 62 |  |  | — |  |  | — |  |  | 62 |
Impairments |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Other operating expense |  | — |  |  | 423 |  |  | — |  |  | — |  |  | 423 |
Total Operating Expenses |  | 3 |  |  | 6,229 |  |  | 11 |  |  | — |  |  | 6,243 |
INCOME (LOSS) FROM OPERATIONS |  | (3 | ) |  | 731 |  |  | 6 |  |  | — |  |  | 734 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (300 | ) |  | (2 | ) |  | — |  |  | — |  |  | (302 | )
Gains on purchases or exchanges of debt |  | 183 |  |  | — |  |  | — |  |  | — |  |  | 183 |
Other income |  | 1 |  |  | 5 |  |  | — |  |  | — |  |  | 6 |
Equity in net earnings of subsidiary |  | 737 |  |  | 3 |  |  | — |  |  | (740 | ) |  | — |
Total Other Income (Expense) |  | 621 |  |  | 6 |  |  | — |  |  | (740 | ) |  | (113 | )
INCOME BEFORE INCOME TAXES |  | 618 |  |  | 737 |  |  | 6 |  |  | (740 | ) |  | 621 |
INCOME TAX EXPENSE |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
NET INCOME |  | 616 |  |  | 737 |  |  | 6 |  |  | (740 | ) |  | 619 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 616 |  |  | 737 |  |  | 3 |  |  | (740 | ) |  | 616 |
Other comprehensive income |  | — |  |  | 29 |  |  | — |  |  | — |  |  | 29 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 616 |  |  | $ | 766 |  |  | $ | 3 |  |  | $ | (740 | ) |  | $ | 645 |
Condensed Consolidated Cash Flow Statements |
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Net Cash Provided By Operating Activities |  | $ | 86 |  |  | $ | 1,512 |  |  | $ | 7 |  |  | $ | (10 | ) |  | $ | 1,595 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Drilling and completion costs |  | — |  |  | (1,481 | ) |  | — |  |  | — |  |  | (1,481 | )
Acquisitions of proved and unproved properties |  | — |  |  | (244 | ) |  | — |  |  | — |  |  | (244 | )
Proceeds from divestitures of proved and unproved properties |  | — |  |  | 395 |  |  | — |  |  | — |  |  | 395 |
Additions to other property and equipment |  | — |  |  | (11 | ) |  | — |  |  | — |  |  | (11 | )
Other investing activities |  | — |  |  | 149 |  |  | — |  |  | — |  |  | 149 |
Net Cash Used In Investing Activities |  | — |  |  | (1,192 | ) |  | — |  |  | — |  |  | (1,192 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Proceeds from revolving credit facility borrowings |  | 9,095 |  |  | — |  |  | — |  |  | — |  |  | 9,095 |
Payments on revolving credit facility borrowings |  | (9,231 | ) |  | — |  |  | — |  |  | — |  |  | (9,231 | )
Proceeds from issuance of senior notes, net |  | 1,237 |  |  | — |  |  | — |  |  | — |  |  | 1,237 |
Cash paid to purchase debt |  | (1,285 | ) |  | — |  |  | — |  |  | — |  |  | (1,285 | )
Cash paid for preferred stock dividends |  | (69 | ) |  | — |  |  | — |  |  | — |  |  | (69 | )
Other financing activities |  | (2 | ) |  | (127 | ) |  | (9 | ) |  | (13 | ) |  | (151 | )
Intercompany advances, net |  | 170 |  |  | (193 | ) |  | 1 |  |  | 22 |  |  | — |
Net Cash Used In Financing Activities |  | (85 | ) |  | (320 | ) |  | (8 | ) |  | 9 |  |  | (404 | )
Net increase (decrease) in cash and cash equivalents |  | 1 |  |  | — |  |  | (1 | ) |  | (1 | ) |  | (1 | )
Cash and cash equivalents, beginning of period |  | 5 |  |  | 1 |  |  | 2 |  |  | (3 | ) |  | 5 |
Cash and cash equivalents, end of period |  | $ | 6 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | (4 | ) |  | $ | 4 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2017 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Net Cash Provided By Operating Activities |  | $ | 4 |  |  | $ | 266 |  |  | $ | 11 |  |  | $ | (8 | ) |  | $ | 273 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Drilling and completion costs |  | — |  |  | (1,597 | ) |  | — |  |  | — |  |  | (1,597 | )
Acquisitions of proved and unproved properties |  | — |  |  | (226 | ) |  | — |  |  | — |  |  | (226 | )
Proceeds from divestitures of proved and unproved properties |  | — |  |  | 1,193 |  |  | — |  |  | — |  |  | 1,193 |
Additions to other property and equipment |  | — |  |  | (12 | ) |  | — |  |  | — |  |  | (12 | )
Other investing activities |  | — |  |  | 40 |  |  | — |  |  | — |  |  | 40 |
Net Cash Used In Investing Activities |  | — |  |  | (602 | ) |  | — |  |  | — |  |  | (602 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Proceeds from revolving credit facility borrowings |  | 4,775 |  |  | — |  |  | — |  |  | — |  |  | 4,775 |
Payments on revolving credit facility borrowings |  | (4,130 | ) |  | — |  |  | — |  |  | — |  |  | (4,130 | )
Proceeds from issuance of senior notes, net |  | 742 |  |  | — |  |  | — |  |  | — |  |  | 742 |
Cash paid to purchase debt |  | (1,751 | ) |  | — |  |  | — |  |  | — |  |  | (1,751 | )
Cash paid for preferred stock dividends |  | (160 | ) |  | — |  |  | — |  |  | — |  |  | (160 | )
Other financing activities |  | (36 | ) |  | (4 | ) |  | (11 | ) |  | 27 |  |  | (24 | )
Intercompany advances, net |  | (339 | ) |  | 339 |  |  | — |  |  | — |  |  | — |
Net Cash Provided by (Used In) Financing Activities |  | (899 | ) |  | 335 |  |  | (11 | ) |  | 27 |  |  | (548 | )
Net increase (decrease) in cash and cash equivalents |  | (895 | ) |  | (1 | ) |  | — |  |  | 19 |  |  | (877 | )
Cash and cash equivalents, beginning of period |  | 904 |  |  | 2 |  |  | 1 |  |  | (25 | ) |  | 882 |
Cash and cash equivalents, end of period |  | $ | 9 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | (6 | ) |  | $ | 5 |

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