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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 35 $ 42
Accounts receivable and accrued revenues (net of allowances of $6 million (2024: $5 million)) 1,128 1,183
Investment in marketable securities 245  
Risk management 86 108
Income tax receivable 29 36
Total Current Assets 1,523 1,369
Oil and natural gas properties, based on full cost accounting    
Proved properties 70,133 66,009
Unproved properties 434 764
Other 864 865
Property, plant and equipment 71,431 67,638
Less: Accumulated depreciation, depletion and amortization (57,187) (53,274)
Property, plant and equipment, net 14,244 14,364
Other Assets 1,299 965
Risk Management 4 0
Deferred Income Taxes 744 10
Goodwill 2,576 2,546
Total Assets 20,390 19,254
Current Liabilities    
Accounts payable and accrued liabilities 1,861 1,883
Current portion of operating lease liabilities 117 82
Income tax payable 5 9
Risk management 2 107
Current portion of long-term debt 810 600
Total Current Liabilities 2,795 2,681
Long-Term Debt 4,392 4,853
Operating Lease Liabilities 1,105 737
Other Liabilities and Provisions 100 114
Risk Management 13 21
Asset Retirement Obligation 388 315
Deferred Income Taxes 402 202
Total Liabilities 9,195 8,923
Commitments and Contingencies
Shareholders’ Equity    
Share capital - authorized 775 million shares of stock 2025 issued and outstanding: 253.3 million shares (2024: 260.4 million shares) 3 3
Paid in surplus 7,779 8,045
Retained earnings 2,440 1,506
Accumulated other comprehensive income 973 777
Total Shareholders’ Equity 11,195 10,331
Total Liabilities and Shareholders' Equity $ 20,390 $ 19,254