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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 849 $ 279
Restricted cash 9 0
Accounts receivable, net 815 746
Short-term derivative assets 0 19
Other current assets 61 64
Total current assets 1,734 1,108
Oil and natural gas properties, successful efforts method    
Proved oil and natural gas properties 5,163 25,734
Unproved properties 421 1,550
Other property and equipment 492 1,754
Total property and equipment 6,076 29,038
Less: accumulated depreciation, depletion and amortization (571) (23,806)
Property and equipment held for sale, net 3 10
Total property and equipment, net 5,508 5,242
Other long-term assets 84 234
Total assets 7,326 6,584
Current liabilities:    
Accounts payable 257 346
Current maturities of long-term debt 0 1,929
Accrued interest 10 3
Short-term derivative liabilities 1,345 93
Other current liabilities 898 723
Total current liabilities 2,510 3,094
Long-term debt, net 1,259 0
Long-term derivative liabilities 265 44
Asset retirement obligations, net of current portion 244 139
Other long-term liabilities 10 5
Liabilities subject to compromise 0 8,643
Total liabilities 4,288 11,925
Contingencies and commitments (Note 6)
Stockholders’ equity (deficit):    
Predecessor preferred stock, $0.01 par value, 20,000,000 shares authorized: 0 and 5,563,458 shares outstanding   1,631
Common stock 1 0
Additional paid-in capital 3,594 16,937
Predecessor accumulated other comprehensive income   45
Accumulated deficit (557) (23,954)
Total stockholders’ equity (deficit) 3,038 (5,341)
Total liabilities and stockholders’ equity (deficit) $ 7,326 $ 6,584