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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidated Balance Sheets | CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2019 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 9 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | (8 | ) |  | $ | 4 |
Other current assets |  | 54 |  |  | 1,229 |  |  | 97 |  |  | — |  |  | 1,380 |
Intercompany receivable, net |  | 6,321 |  |  | — |  |  | — |  |  | (6,321 | ) |  | — |
Total Current Assets |  | 6,384 |  |  | 1,230 |  |  | 99 |  |  | (6,329 | ) |  | 1,384 |
PROPERTY AND EQUIPMENT: |  |  |  |  |  |  |  |  |  |
Oil and natural gas properties, at cost based on successful efforts accounting, net |  | — |  |  | 9,556 |  |  | 4,132 |  |  | — |  |  | 13,688 |
Other property and equipment, net |  | — |  |  | 1,061 |  |  | 84 |  |  | — |  |  | 1,145 |
Property and equipment held for sale, net |  | — |  |  | 12 |  |  | — |  |  | — |  |  | 12 |
Total Property and Equipment, Net |  | — |  |  | 10,629 |  |  | 4,216 |  |  | — |  |  | 14,845 |
LONG-TERM ASSETS: |  |  |  |  |  |  |  |  |  |
Other long-term assets |  | 327 |  |  | 247 |  |  | 24 |  |  | (287 | ) |  | 311 |
Investments in subsidiaries and intercompany advances |  | 5,982 |  |  | 2,338 |  |  | — |  |  | (8,320 | ) |  | — |
TOTAL ASSETS |  | $ | 12,693 |  |  | $ | 14,444 |  |  | $ | 4,339 |  |  | $ | (14,936 | ) |  | $ | 16,540 |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 137 |  |  | $ | 1,841 |  |  | $ | 250 |  |  | $ | (8 | ) |  | $ | 2,220 |
Intercompany payable, net |  | — |  |  | 6,321 |  |  | — |  |  | (6,321 | ) |  | — |
Total Current Liabilities |  | 137 |  |  | 8,162 |  |  | 250 |  |  | (6,329 | ) |  | 2,220 |
LONG-TERM LIABILITIES: |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 8,311 |  |  | — |  |  | 1,390 |  |  | — |  |  | 9,701 |
Other long-term liabilities |  | 54 |  |  | 300 |  |  | 322 |  |  | (287 | ) |  | 389 |
Total Long-Term Liabilities |  | 8,365 |  |  | 300 |  |  | 1,712 |  |  | (287 | ) |  | 10,090 |
EQUITY: |  |  |  |  |  |  |  |  |  |
Chesapeake stockholders’ equity |  | 4,191 |  |  | 5,982 |  |  | 2,338 |  |  | (8,320 | ) |  | 4,191 |
Noncontrolling interests |  | — |  |  | — |  |  | 39 |  |  | — |  |  | 39 |
Total Equity |  | 4,191 |  |  | 5,982 |  |  | 2,377 |  |  | (8,320 | ) |  | 4,230 |
TOTAL LIABILITIES AND EQUITY |  | $ | 12,693 |  |  | $ | 14,444 |  |  | $ | 4,339 |  |  | $ | (14,936 | ) |  | $ | 16,540 |
CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 4 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | (2 | ) |  | $ | 4 |
Other current assets |  | 60 |  |  | 1,532 |  |  | 2 |  |  | — |  |  | 1,594 |
Intercompany receivable, net |  | 6,671 |  |  | — |  |  | — |  |  | (6,671 | ) |  | — |
Total Current Assets |  | 6,735 |  |  | 1,533 |  |  | 3 |  |  | (6,673 | ) |  | 1,598 |
PROPERTY AND EQUIPMENT: |  |  |  |  |  |  |  |  |  |
Oil and natural gas properties, at cost based on successful efforts accounting, net |  | — |  |  | 9,664 |  |  | 48 |  |  | — |  |  | 9,712 |
Other property and equipment, net |  | — |  |  | 1,091 |  |  | — |  |  | — |  |  | 1,091 |
Property and equipment held for sale, net |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 15 |
Total Property and Equipment, Net |  | — |  |  | 10,770 |  |  | 48 |  |  | — |  |  | 10,818 |
LONG-TERM ASSETS: |  |  |  |  |  |  |  |  |  |
Other long-term assets |  | 26 |  |  | 293 |  |  | — |  |  | — |  |  | 319 |
Investments in subsidiaries and intercompany advances |  | 3,248 |  |  | 9 |  |  | — |  |  | (3,257 | ) |  | — |
TOTAL ASSETS |  | $ | 10,009 |  |  | $ | 12,605 |  |  | $ | 51 |  |  | $ | (9,930 | ) |  | $ | 12,735 |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 523 |  |  | $ | 2,365 |  |  | $ | 1 |  |  | $ | (2 | ) |  | $ | 2,887 |
Intercompany payable, net |  | — |  |  | 6,671 |  |  | — |  |  | (6,671 | ) |  | — |
Total Current Liabilities |  | 523 |  |  | 9,036 |  |  | 1 |  |  | (6,673 | ) |  | 2,887 |
LONG-TERM LIABILITIES: |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 7,341 |  |  | — |  |  | — |  |  | — |  |  | 7,341 |
Other long-term liabilities |  | 53 |  |  | 321 |  |  | — |  |  | — |  |  | 374 |
Total Long-Term Liabilities |  | 7,394 |  |  | 321 |  |  | — |  |  | — |  |  | 7,715 |
EQUITY: |  |  |  |  |  |  |  |  |  |
Chesapeake stockholders’ equity |  | 2,092 |  |  | 3,248 |  |  | 9 |  |  | (3,257 | ) |  | 2,092 |
Noncontrolling interests |  | — |  |  | — |  |  | 41 |  |  | — |  |  | 41 |
Total Equity |  | 2,092 |  |  | 3,248 |  |  | 50 |  |  | (3,257 | ) |  | 2,133 |
TOTAL LIABILITIES AND EQUITY |  | $ | 10,009 |  |  | $ | 12,605 |  |  | $ | 51 |  |  | $ | (9,930 | ) |  | $ | 12,735 |
Condensed Consolidated Income Statements | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2019 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 1,218 |  |  | $ | 236 |  |  | $ | — |  |  | $ | 1,454 |
Marketing |  | — |  |  | 916 |  |  | — |  |  | — |  |  | 916 |
Total Revenues |  | — |  |  | 2,134 |  |  | 236 |  |  | — |  |  | 2,370 |
Other |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 15 |
Gains on sales of assets |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Total Revenues and Other |  | — |  |  | 2,150 |  |  | 236 |  |  | — |  |  | 2,386 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 138 |  |  | 28 |  |  | — |  |  | 166 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 265 |  |  | 6 |  |  | — |  |  | 271 |
Production taxes |  | — |  |  | 30 |  |  | 10 |  |  | — |  |  | 40 |
Exploration |  | — |  |  | 16 |  |  | (1 | ) |  | — |  |  | 15 |
Marketing |  | — |  |  | 940 |  |  | — |  |  | — |  |  | 940 |
General and administrative |  | — |  |  | 65 |  |  | 24 |  |  | — |  |  | 89 |
Provision for legal contingencies, net |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Depreciation, depletion and amortization |  | — |  |  | 439 |  |  | 141 |  |  | — |  |  | 580 |
Impairments |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Other operating expense |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Total Operating Expenses |  | — |  |  | 1,900 |  |  | 208 |  |  | — |  |  | 2,108 |
INCOME FROM OPERATIONS |  | — |  |  | 250 |  |  | 28 |  |  | — |  |  | 278 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest income (expense) |  | (160 | ) |  | 5 |  |  | (20 | ) |  | — |  |  | (175 | )
Losses on investments |  | — |  |  | — |  |  | (23 | ) |  | — |  |  | (23 | )
Other income |  | — |  |  | 16 |  |  | 2 |  |  | — |  |  | 18 |
Equity in net earnings of subsidiary |  | 281 |  |  | 10 |  |  | — |  |  | (291 | ) |  | — |
Total Other Income (Expense) |  | 121 |  |  | 31 |  |  | (41 | ) |  | (291 | ) |  | (180 | )
INCOME(LOSS) BEFORE INCOME TAXES |  | 121 |  |  | 281 |  |  | (13 | ) |  | (291 | ) |  | 98 |
INCOME TAX (BENEFIT) EXPENSE |  | 23 |  |  | — |  |  | (23 | ) |  | — |  |  | — |
NET INCOME |  | 98 |  |  | 281 |  |  | 10 |  |  | (291 | ) |  | 98 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NET INCOME ATTRIBUTABLE TO CHESAPEAKE |  | 98 |  |  | 281 |  |  | 10 |  |  | (291 | ) |  | 98 |
Other comprehensive income |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 8 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO CHESAPEAKE |  | $ | 98 |  |  | $ | 289 |  |  | $ | 10 |  |  | $ | (291 | ) |  | $ | 106 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 978 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 982 |
Marketing |  | — |  |  | 1,273 |  |  | — |  |  | — |  |  | 1,273 |
Total Revenues |  | — |  |  | 2,251 |  |  | 4 |  |  | — |  |  | 2,255 |
Other |  | — |  |  | 16 |  |  | — |  |  | — |  |  | 16 |
Gains on sales of assets |  | — |  |  | 18 |  |  | — |  |  | — |  |  | 18 |
Total Revenues and Other |  | — |  |  | 2,285 |  |  | 4 |  |  | — |  |  | 2,289 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 138 |  |  | — |  |  | — |  |  | 138 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 338 |  |  | 2 |  |  | — |  |  | 340 |
Production taxes |  | — |  |  | 26 |  |  | — |  |  | — |  |  | 26 |
Exploration |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 20 |
Marketing |  | — |  |  | 1,292 |  |  | — |  |  | — |  |  | 1,292 |
General and administrative |  | — |  |  | 104 |  |  | 1 |  |  | — |  |  | 105 |
Provision for legal contingencies, net |  | — |  |  | 4 |  |  | — |  |  | — |  |  | 4 |
Depreciation, depletion and amortization |  | — |  |  | 470 |  |  | 1 |  |  | — |  |  | 471 |
Impairments |  | — |  |  | 54 |  |  | — |  |  | — |  |  | 54 |
Other operating income |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | (1 | )
Total Operating Expenses |  | — |  |  | 2,445 |  |  | 4 |  |  | — |  |  | 2,449 |
INCOME FROM OPERATIONS |  | — |  |  | (160 | ) |  | — |  |  | — |  |  | (160 | )
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (155 | ) |  | — |  |  | — |  |  | — |  |  | (155 | )
Other income |  | — |  |  | 57 |  |  | — |  |  | — |  |  | 57 |
Equity in net earnings of subsidiary |  | (103 | ) |  | — |  |  | (1 | ) |  | 104 |  |  | — |
Total Other Income (Expense) |  | (258 | ) |  | 57 |  |  | (1 | ) |  | 104 |  |  | (98 | )
LOSS BEFORE INCOME TAXES |  | (258 | ) |  | (103 | ) |  | (1 | ) |  | 104 |  |  | (258 | )
INCOME TAX BENEFIT |  | (9 | ) |  | — |  |  | — |  |  | — |  |  | (9 | )
NET LOSS |  | (249 | ) |  | (103 | ) |  | (1 | ) |  | 104 |  |  | (249 | )
Net (income) loss attributable to noncontrolling interests |  | — |  |  | (1 | ) |  | 1 |  |  | — |  |  | — |
NET LOSS ATTRIBUTABLE TO CHESAPEAKE |  | (249 | ) |  | (104 | ) |  | — |  |  | 104 |  |  | (249 | )
Other comprehensive income |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 7 |
COMPREHENSIVE LOSS ATTRIBUTABLE TO CHESAPEAKE |  | $ | (249 | ) |  | $ | (97 | ) |  | $ | — |  |  | $ | 104 |  |  | $ | (242 | )
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2019 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 2,068 |  |  | $ | 315 |  |  | $ | — |  |  | $ | 2,383 |
Marketing |  | — |  |  | 2,149 |  |  | — |  |  | — |  |  | 2,149 |
Total Revenues |  | — |  |  | 4,217 |  |  | 315 |  |  | — |  |  | 4,532 |
Other |  | — |  |  | 30 |  |  | — |  |  | — |  |  | 30 |
Gains on sales of assets |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 20 |
Total Revenues and Other |  | — |  |  | 4,267 |  |  | 315 |  |  | — |  |  | 4,582 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 255 |  |  | 43 |  |  | — |  |  | 298 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 534 |  |  | 11 |  |  | — |  |  | 545 |
Production taxes |  | — |  |  | 58 |  |  | 16 |  |  | — |  |  | 74 |
Exploration |  | — |  |  | 36 |  |  | 3 |  |  | — |  |  | 39 |
Marketing |  | — |  |  | 2,170 |  |  | — |  |  | — |  |  | 2,170 |
General and administrative |  | — |  |  | 150 |  |  | 42 |  |  | — |  |  | 192 |
Provision for legal contingencies, net |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Depreciation, depletion and amortization |  | — |  |  | 874 |  |  | 225 |  |  | — |  |  | 1,099 |
Impairments |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Other operating expense |  | — |  |  | 26 |  |  | 38 |  |  | — |  |  | 64 |
Total Operating Expenses |  | — |  |  | 4,108 |  |  | 378 |  |  | — |  |  | 4,486 |
INCOME (LOSS) FROM OPERATIONS |  | — |  |  | 159 |  |  | (63 | ) |  | — |  |  | 96 |
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest income (expense) |  | (314 | ) |  | 10 |  |  | (32 | ) |  | — |  |  | (336 | )
Losses on investments |  | — |  |  | — |  |  | (24 | ) |  | — |  |  | (24 | )
Other income |  | — |  |  | 25 |  |  | 2 |  |  | — |  |  | 27 |
Equity in net earnings of subsidiary |  | 104 |  |  | (90 | ) |  | — |  |  | (14 | ) |  | — |
Total Other Expense |  | (210 | ) |  | (55 | ) |  | (54 | ) |  | (14 | ) |  | (333 | )
INCOME (LOSS) BEFORE INCOME TAXES |  | (210 | ) |  | 104 |  |  | (117 | ) |  | (14 | ) |  | (237 | )
INCOME TAX BENEFIT |  | (287 | ) |  | — |  |  | (27 | ) |  | — |  |  | (314 | )
NET INCOME (LOSS) |  | 77 |  |  | 104 |  |  | (90 | ) |  | (14 | ) |  | 77 |
Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE |  | 77 |  |  | 104 |  |  | (90 | ) |  | (14 | ) |  | 77 |
Other comprehensive income |  | — |  |  | 18 |  |  | — |  |  | — |  |  | 18 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE |  | $ | 77 |  |  | $ | 122 |  |  | $ | (90 | ) |  | $ | (14 | ) |  | $ | 95 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL |  | $ | — |  |  | $ | 2,216 |  |  | $ | 9 |  |  | $ | — |  |  | $ | 2,225 |
Marketing |  | — |  |  | 2,519 |  |  | — |  |  | — |  |  | 2,519 |
Total Revenues |  | — |  |  | 4,735 |  |  | 9 |  |  | — |  |  | 4,744 |
Other |  | — |  |  | 32 |  |  | — |  |  | — |  |  | 32 |
Gains on sales of assets |  | — |  |  | 37 |  |  | — |  |  | — |  |  | 37 |
Total Revenues and Other |  | — |  |  | 4,804 |  |  | 9 |  |  | — |  |  | 4,813 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |
Oil, natural gas and NGL production |  | — |  |  | 285 |  |  | — |  |  | — |  |  | 285 |
Oil, natural gas and NGL gathering, processing and transportation |  | — |  |  | 693 |  |  | 3 |  |  | — |  |  | 696 |
Production taxes |  | — |  |  | 57 |  |  | — |  |  | — |  |  | 57 |
Exploration |  | — |  |  | 101 |  |  | — |  |  | — |  |  | 101 |
Marketing |  | — |  |  | 2,560 |  |  | — |  |  | — |  |  | 2,560 |
General and administrative |  | — |  |  | 191 |  |  | 1 |  |  | — |  |  | 192 |
Restructuring and other termination costs |  | — |  |  | 38 |  |  | — |  |  | — |  |  | 38 |
Provision for legal contingencies, net |  | — |  |  | 9 |  |  | — |  |  | — |  |  | 9 |
Depreciation, depletion and amortization |  | — |  |  | 927 |  |  | 3 |  |  | — |  |  | 930 |
Impairments |  | — |  |  | 64 |  |  | — |  |  | — |  |  | 64 |
Other operating income |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | (1 | )
Total Operating Expenses |  | — |  |  | 4,924 |  |  | 7 |  |  | — |  |  | 4,931 |
INCOME (LOSS) FROM OPERATIONS |  | — |  |  | (120 | ) |  | 2 |  |  | — |  |  | (118 | )
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |
Interest expense |  | (317 | ) |  | — |  |  | — |  |  | — |  |  | (317 | )
Gains on investments |  | — |  |  | 139 |  |  | — |  |  | — |  |  | 139 |
Other income |  | — |  |  | 56 |  |  | — |  |  | — |  |  | 56 |
Equity in net earnings of subsidiary |  | 76 |  |  | 1 |  |  | (1 | ) |  | (76 | ) |  | — |
Total Other Income (Expense) |  | (241 | ) |  | 196 |  |  | (1 | ) |  | (76 | ) |  | (122 | )
INCOME (LOSS) BEFORE INCOME TAXES |  | (241 | ) |  | 76 |  |  | 1 |  |  | (76 | ) |  | (240 | )
INCOME TAX BENEFIT |  | (9 | ) |  | — |  |  | — |  |  | — |  |  | (9 | )
NET INCOME (LOSS) |  | (232 | ) |  | 76 |  |  | 1 |  |  | (76 | ) |  | (231 | )
Net income attributable to noncontrolling interests |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | (1 | )
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE |  | (232 | ) |  | 75 |  |  | 1 |  |  | (76 | ) |  | (232 | )
Other comprehensive income |  | — |  |  | 17 |  |  | — |  |  | — |  |  | 17 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE |  | $ | (232 | ) |  | $ | 92 |  |  | $ | 1 |  |  | $ | (76 | ) |  | $ | (215 | )
Condensed Consolidated Cash Flow Statements | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2019 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Net Cash Provided By Operating Activities |  | $ | — |  |  | $ | 613 |  |  | $ | 242 |  |  | $ | (2 | ) |  | $ | 853 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Drilling and completion costs |  | — |  |  | (805 | ) |  | (265 | ) |  | — |  |  | (1,070 | )
Business combination, net |  | — |  |  | (381 | ) |  | 28 |  |  | — |  |  | (353 | )
Acquisitions of proved and unproved properties |  | — |  |  | (17 | ) |  | — |  |  | — |  |  | (17 | )
Proceeds from divestitures of proved and unproved properties |  | — |  |  | 82 |  |  | — |  |  | — |  |  | 82 |
Additions to other property and equipment |  | — |  |  | (7 | ) |  | (11 | ) |  | — |  |  | (18 | )
Other investing activities |  | — |  |  | 4 |  |  | — |  |  | — |  |  | 4 |
Net Cash Used In Investing Activities |  | — |  |  | (1,124 | ) |  | (248 | ) |  | — |  |  | (1,372 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Proceeds from revolving credit facility borrowings |  | 6,119 |  |  | — |  |  | 297 |  |  | — |  |  | 6,416 |
Payments on revolving credit facility borrowings |  | (5,166 | ) |  | — |  |  | (286 | ) |  | — |  |  | (5,452 | )
Cash paid to purchase debt |  | (381 | ) |  | — |  |  | — |  |  | — |  |  | (381 | )
Cash paid for preferred stock dividends |  | (46 | ) |  | — |  |  | — |  |  | — |  |  | (46 | )
Other financing activities |  | (12 | ) |  | (4 | ) |  | (4 | ) |  | 2 |  |  | (18 | )
Intercompany advances, net |  | (515 | ) |  | 515 |  |  | — |  |  | — |  |  | — |
Net Cash Provided By (Used In) Financing Activities |  | (1 | ) |  | 511 |  |  | 7 |  |  | 2 |  |  | 519 |
Net increase (decrease) in cash and cash equivalents |  | (1 | ) |  | — |  |  | 1 |  |  | — |  |  | — |
Cash and cash equivalents, beginning of period |  | 4 |  |  | 1 |  |  | 1 |  |  | (2 | ) |  | 4 |
Cash and cash equivalents, end of period |  | $ | 3 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | (2 | ) |  | $ | 4 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2018 ($ in millions)
|  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Net Cash Provided By Operating Activities |  | $ | 88 |  |  | $ | 866 |  |  | $ | 5 |  |  | $ | (8 | ) |  | $ | 951 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Drilling and completion costs |  | — |  |  | (928 | ) |  | — |  |  | — |  |  | (928 | )
Acquisitions of proved and unproved properties |  | — |  |  | (102 | ) |  | — |  |  | — |  |  | (102 | )
Proceeds from divestitures of proved and unproved properties |  | — |  |  | 384 |  |  | — |  |  | — |  |  | 384 |
Additions to other property and equipment |  | — |  |  | (5 | ) |  | — |  |  | — |  |  | (5 | )
Other investing activities |  | — |  |  | 148 |  |  | — |  |  | — |  |  | 148 |
Net Cash Used In Investing Activities |  | — |  |  | (503 | ) |  | — |  |  | — |  |  | (503 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |
Proceeds from revolving credit facility borrowings |  | 6,118 |  |  | — |  |  | — |  |  | — |  |  | 6,118 |
Payments on revolving credit facility borrowings |  | (6,393 | ) |  | — |  |  | — |  |  | — |  |  | (6,393 | )
Cash paid for preferred stock dividends |  | (46 | ) |  | — |  |  | — |  |  | — |  |  | (46 | )
Other financing activities |  | (2 | ) |  | (126 | ) |  | (7 | ) |  | 6 |  |  | (129 | )
Intercompany advances, net |  | 235 |  |  | (237 | ) |  | 2 |  |  | — |  |  | — |
Net Cash Used In Financing Activities |  | (88 | ) |  | (363 | ) |  | (5 | ) |  | 6 |  |  | (450 | )
Net decrease in cash and cash equivalents |  | — |  |  | — |  |  | — |  |  | (2 | ) |  | (2 | )
Cash and cash equivalents, beginning of period |  | 5 |  |  | 1 |  |  | 2 |  |  | (3 | ) |  | 5 |
Cash and cash equivalents, end of period |  | $ | 5 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | (5 | ) |  | $ | 3 |

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