You're describing the combustion of methane (CH4), which is a common reaction. Here's the balanced chemical equation:

CH4 + 2O2 → CO2 + 2H2O

Let's break it down:

* CH4: Methane, a hydrocarbon gas

* O2: Oxygen, a diatomic gas

* CO2: Carbon dioxide, a greenhouse gas

* H2O: Water, a liquid

Explanation:

* When methane reacts with oxygen, it burns, releasing energy in the form of heat and light.

* The carbon in methane combines with oxygen to form carbon dioxide.

* The hydrogen in methane combines with oxygen to form water.

Key Points:

* Balancing the equation: You need two oxygen molecules (2O2) on the left side to have the same number of oxygen atoms on both sides of the equation.

* Combustion reaction: This is an example of a combustion reaction, where a fuel (methane) reacts with an oxidant (oxygen) to produce energy.