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Debt and Credit Agreements (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Maturities of Long-term Debt | The Company has debt maturities in the next five years as follows:
(in millions) |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | Thereafter
Debt maturities |  | $ | — |  |  | $ | 62 |  |  | $ | 1,325 |  |  | $ | — |  |  | $ | 312 |  |  | $ | 1,250 |
Schedule of Long-term Debt and Credit Agreements | The Company's debt and credit agreements consisted of the following:
| December 31,
(In millions) | 2021 |  | 2020
Total debt |  |  |
6.51% weighted-average private placement senior notes | $ | 37 |  |  | $ | 37 |
5.58% weighted-average private placement senior notes (1) | 87 |  |  | 175 |
3.65% weighted-average private placement senior notes (2) | 825 |  |  | 925 |
4.375% senior notes due June 1, 2024 | 750 |  |  | — |
3.90% senior notes due May 15, 2027 | 750 |  |  | — |
4.375% senior notes due March 15, 2029 | 500 |  |  | — |
Revolving credit facility | — |  |  | — |
Net premium (discount) | 185 |  |  | — |
Unamortized debt issuance costs | (9) |  |  | (3) |
| $ | 3,125 |  |  | $ | 1,134 |
_______________________________________________________________________________ (1)Includes $88 million of current portion of long-term debt at December 31, 2020, which the Company repaid in January 2021. (2)Includes $100 million of current portion of long-term debt at December 31, 2020, which the Company repaid in September 2021. The notes have bullet maturities and were issued in three separate tranches as follows:
| Principal (In millions) |  | Term |  | Maturity Date |  | Coupon
Tranche 1 | $ | 245 |  |  | 10 years |  | July 2018 |  | 6.44 | %
Tranche 2 | $ | 100 |  |  | 12 years |  | July 2020 |  | 6.54 | %
Tranche 3 | $ | 80 |  |  | 15 years |  | July 2023 |  | 6.69 | %
The notes have bullet maturities and were issued in three separate tranches as follows:
| Principal (In millions) |  | Term |  | Maturity Date |  | Coupon
Tranche 1 | $ | 88 |  |  | 10 years |  | January 2021 |  | 5.42 | %
Tranche 2 | $ | 25 |  |  | 12 years |  | January 2023 |  | 5.59 | %
Tranche 3 | $ | 62 |  |  | 15 years |  | January 2026 |  | 5.80 | %
The notes have bullet maturities and were issued in three separate tranches as follows:
| Principal (In millions) |  | Term |  | Maturity Date |  | Coupon
Tranche 1 | $ | 100 |  |  | 7 years |  | September 2021 |  | 3.24 | %
Tranche 2 | $ | 575 |  |  | 10 years |  | September 2024 |  | 3.67 | %
Tranche 3 | $ | 250 |  |  | 12 years |  | September 2026 |  | 3.77 | %
The following table includes the summary of the Cimarex debt that was outstanding as of the consummation of the Merger on October 1, 2021 (the “Existing Cimarex Notes”):
(In millions) |  | Face Value |  | Fair Value
4.375% senior notes due June 1, 2024 |  | $ | 750 |  |  | $ | 809 |
3.90% senior notes due May 15, 2027 |  | 750 |  |  | 823 |
4.375% senior notes due March 15, 2029 |  | 500 |  |  | 564 |
|  | $ | 2,000 |  |  | $ | 2,196 |

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