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BUSINESS SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Schedule of Financial Segment Information | Financial information for each segment is presented below:
|  | Egypt(1) |  | North Sea |  | U.S. |  | Altus Midstream |  | Intersegment Eliminations & Other |  | Total(2)
|  | Upstream |  |  |
|  | (In millions)
2022 |  |  |  |  |  |  |  |  |  |  |  |
Oil revenues |  | $ | 3,145 |  |  | $ | 1,232 |  |  | $ | 2,458 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,835 |
Natural gas revenues |  | 370 |  |  | 281 |  |  | 918 |  |  | — |  |  | — |  |  | 1,569 |
Natural gas liquids revenues |  | 6 |  |  | 45 |  |  | 768 |  |  | — |  |  | (3) |  |  | 816 |
Oil, natural gas, and natural gas liquids production revenues |  | 3,521 |  |  | 1,558 |  |  | 4,144 |  |  | — |  |  | (3) |  |  | 9,220 |
Purchased oil and gas sales |  | — |  |  | — |  |  | 1,850 |  |  | 5 |  |  | — |  |  | 1,855 |
Midstream service affiliate revenues |  | — |  |  | — |  |  | — |  |  | 16 |  |  | (16) |  |  | — |
|  | 3,521 |  |  | 1,558 |  |  | 5,994 |  |  | 21 |  |  | (19) |  |  | 11,075 |
Operating Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Lease operating expenses |  | 526 |  |  | 404 |  |  | 515 |  |  | — |  |  | (1) |  |  | 1,444 |
Gathering, processing, and transmission |  | 22 |  |  | 43 |  |  | 315 |  |  | 5 |  |  | (18) |  |  | 367 |
Purchased oil and gas costs |  | — |  |  | — |  |  | 1,776 |  |  | — |  |  | — |  |  | 1,776 |
Taxes other than income |  | — |  |  | — |  |  | 265 |  |  | 3 |  |  | — |  |  | 268 |
Exploration(4) |  | 84 |  |  | 35 |  |  | 24 |  |  | — |  |  | 162 |  |  | 305 |
Depreciation, depletion, and amortization |  | 400 |  |  | 238 |  |  | 593 |  |  | 2 |  |  | — |  |  | 1,233 |
Asset retirement obligation accretion |  | — |  |  | 82 |  |  | 34 |  |  | 1 |  |  | — |  |  | 117 |
|  | 1,032 |  |  | 802 |  |  | 3,522 |  |  | 11 |  |  | 143 |  |  | 5,510 |
Operating Income (Loss) |  | $ | 2,489 |  |  | $ | 756 |  |  | $ | 2,472 |  |  | $ | 10 |  |  | $ | (162) |  |  | 5,565 |
Other Income (Expense): |  |  |  |  |  |  |  |  |  |  |  |
Gain on divestitures, net |  |  |  |  |  |  |  |  |  |  |  | 1,180 |
Losses on previously sold Gulf of Mexico properties |  |  |  |  |  |  |  |  |  |  |  | (157) |
Derivative instrument losses, net |  |  |  |  |  |  |  |  |  |  |  | (114) |
Other |  |  |  |  |  |  |  |  |  |  |  | 148 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  | (483) |
Transaction, reorganization, and separation |  |  |  |  |  |  |  |  |  |  |  | (26) |
Financing costs, net |  |  |  |  |  |  |  |  |  |  |  | (379) |
Income Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  | $ | 5,734 |
Total Assets(3) |  | $ | 3,148 |  |  | $ | 1,911 |  |  | $ | 7,574 |  |  | $ | — |  |  | $ | 514 |  |  | $ | 13,147 |
Net Property and Equipment |  | $ | 1,976 |  |  | $ | 1,386 |  |  | $ | 5,226 |  |  | $ | — |  |  | $ | 424 |  |  | $ | 9,012 |
Additions to Net Property and Equipment |  | $ | 695 |  |  | $ | 210 |  |  | $ | 1,439 |  |  | $ | — |  |  | $ | 263 |  |  | $ | 2,607 |
|  | Egypt(1) |  | North Sea |  | U.S. |  | Altus Midstream |  | Intersegment Eliminations & Other |  | Total(2)
|  | Upstream |  |  |
|  | (In millions)
2021 |  |  |  |  |  |  |  |  |  |  |  |
Oil revenues |  | $ | 1,806 |  |  | $ | 929 |  |  | $ | 1,850 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,585 |
Natural gas revenues |  | 270 |  |  | 183 |  |  | 754 |  |  | — |  |  | — |  |  | 1,207 |
Natural gas liquids revenues |  | 9 |  |  | 24 |  |  | 676 |  |  | — |  |  | (3) |  |  | 706 |
Oil, natural gas, and natural gas liquids production revenues |  | 2,085 |  |  | 1,136 |  |  | 3,280 |  |  | — |  |  | (3) |  |  | 6,498 |
Purchased oil and gas sales |  | — |  |  | — |  |  | 1,476 |  |  | 11 |  |  | — |  |  | 1,487 |
Midstream service affiliate revenues |  | — |  |  | — |  |  | — |  |  | 127 |  |  | (127) |  |  | — |
|  | 2,085 |  |  | 1,136 |  |  | 4,756 |  |  | 138 |  |  | (130) |  |  | 7,985 |
Operating Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Lease operating expenses |  | 469 |  |  | 383 |  |  | 391 |  |  | — |  |  | (2) |  |  | 1,241 |
Gathering, processing, and transmission |  | 12 |  |  | 39 |  |  | 309 |  |  | 32 |  |  | (128) |  |  | 264 |
Purchased oil and gas costs |  | — |  |  | — |  |  | 1,575 |  |  | 5 |  |  | — |  |  | 1,580 |
Taxes other than income |  | — |  |  | — |  |  | 190 |  |  | 14 |  |  | — |  |  | 204 |
Exploration(4) |  | 63 |  |  | 34 |  |  | 28 |  |  | — |  |  | 30 |  |  | 155 |
Depreciation, depletion, and amortization |  | 524 |  |  | 270 |  |  | 554 |  |  | 12 |  |  | — |  |  | 1,360 |
Asset retirement obligation accretion |  | — |  |  | 79 |  |  | 30 |  |  | 4 |  |  | — |  |  | 113 |
Impairments |  | 26 |  |  | 22 |  |  | — |  |  | 160 |  |  | — |  |  | 208 |
|  | 1,094 |  |  | 827 |  |  | 3,077 |  |  | 227 |  |  | (100) |  |  | 5,125 |
Operating Income (Loss) |  | $ | 991 |  |  | $ | 309 |  |  | $ | 1,679 |  |  | $ | (89) |  |  | $ | (30) |  |  | 2,860 |
Other Income (Expense): |  |  |  |  |  |  |  |  |  |  |  |
Gain on divestitures, net |  |  |  |  |  |  |  |  |  |  |  | 67 |
Losses on previously sold Gulf of Mexico properties |  |  |  |  |  |  |  |  |  |  |  | (446) |
Derivative instrument gains, net |  |  |  |  |  |  |  |  |  |  |  | 94 |
Other |  |  |  |  |  |  |  |  |  |  |  | 228 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  | (376) |
Transaction, reorganization, and separation |  |  |  |  |  |  |  |  |  |  |  | (22) |
Financing costs, net |  |  |  |  |  |  |  |  |  |  |  | (514) |
Income Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  | $ | 1,891 |
Total Assets(3) |  | $ | 2,796 |  |  | $ | 2,199 |  |  | $ | 6,269 |  |  | $ | 1,698 |  |  | $ | 341 |  |  | $ | 13,303 |
Net Property and Equipment |  | $ | 1,720 |  |  | $ | 1,646 |  |  | $ | 4,507 |  |  | $ | 187 |  |  | $ | 275 |  |  | $ | 8,335 |
Additions to Net Property and Equipment |  | $ | 319 |  |  | $ | 159 |  |  | $ | 523 |  |  | $ | 3 |  |  | $ | 151 |  |  | $ | 1,155 |
|  | Egypt(1) |  | North Sea |  | U.S. |  | Altus Midstream |  | Intersegment Eliminations & Other |  | Total(2)
|  | Upstream |  |  |
|  | (In millions)
2020 |  |  |  |  |  |  |  |  |  |  |  |
Oil revenues |  | $ | 1,102 |  |  | $ | 795 |  |  | $ | 1,209 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,106 |
Natural gas revenues |  | 280 |  |  | 67 |  |  | 251 |  |  | — |  |  | — |  |  | 598 |
Natural gas liquids revenues |  | 8 |  |  | 21 |  |  | 304 |  |  | — |  |  | — |  |  | 333 |
Oil, natural gas, and natural gas liquids production revenues |  | 1,390 |  |  | 883 |  |  | 1,764 |  |  | — |  |  | — |  |  | 4,037 |
Purchased oil and gas sales |  | — |  |  | — |  |  | 394 |  |  | 4 |  |  | — |  |  | 398 |
Midstream service affiliate revenues |  | — |  |  | — |  |  | — |  |  | 145 |  |  | (145) |  |  | — |
|  | 1,390 |  |  | 883 |  |  | 2,158 |  |  | 149 |  |  | (145) |  |  | 4,435 |
Operating Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Lease operating expenses |  | 424 |  |  | 305 |  |  | 400 |  |  | — |  |  | (2) |  |  | 1,127 |
Gathering, processing, and transmission |  | 38 |  |  | 50 |  |  | 291 |  |  | 38 |  |  | (143) |  |  | 274 |
Purchased oil and gas costs |  | — |  |  | — |  |  | 354 |  |  | 3 |  |  | — |  |  | 357 |
Taxes other than income |  | — |  |  | — |  |  | 108 |  |  | 15 |  |  | — |  |  | 123 |
Exploration(4) |  | 63 |  |  | 28 |  |  | 168 |  |  | — |  |  | 15 |  |  | 274 |
Depreciation, depletion, and amortization |  | 601 |  |  | 380 |  |  | 779 |  |  | 12 |  |  | — |  |  | 1,772 |
Asset retirement obligation accretion |  | — |  |  | 73 |  |  | 32 |  |  | 4 |  |  | — |  |  | 109 |
Impairments |  | 529 |  |  | 7 |  |  | 3,963 |  |  | 2 |  |  | — |  |  | 4,501 |
|  | 1,655 |  |  | 843 |  |  | 6,095 |  |  | 74 |  |  | (130) |  |  | 8,537 |
Operating Income (Loss) |  | $ | (265) |  |  | $ | 40 |  |  | $ | (3,937) |  |  | $ | 75 |  |  | $ | (15) |  |  | (4,102) |
Other Income (Expense): |  |  |  |  |  |  |  |  |  |  |  |
Gain on divestitures, net |  |  |  |  |  |  |  |  |  |  |  | 32 |
Derivative instrument losses, net |  |  |  |  |  |  |  |  |  |  |  | (223) |
Other |  |  |  |  |  |  |  |  |  |  |  | 64 |
General and administrative |  |  |  |  |  |  |  |  |  |  |  | (290) |
Transaction, reorganization, and separation |  |  |  |  |  |  |  |  |  |  |  | (54) |
Financing costs, net |  |  |  |  |  |  |  |  |  |  |  | (267) |
Loss Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  | $ | (4,840) |
Total Assets(3) |  | $ | 3,003 |  |  | $ | 2,220 |  |  | $ | 5,540 |  |  | $ | 1,786 |  |  | $ | 197 |  |  | $ | 12,746 |
Net Property and Equipment |  | $ | 1,955 |  |  | $ | 1,773 |  |  | $ | 4,760 |  |  | $ | 196 |  |  | $ | 135 |  |  | $ | 8,819 |
Additions to Net Property and Equipment |  | $ | 454 |  |  | $ | 215 |  |  | $ | 345 |  |  | $ | 12 |  |  | $ | 136 |  |  | $ | 1,162 |
(1)Includes revenue from non-customers for the years ended December 31, 2022, 2021, and 2020 of:
|  | For the Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (In millions)
Oil |  | $ | 989 |  |  | $ | 420 |  |  | $ | 95 |
Natural gas |  | 117 |  |  | 47 |  |  | 14 |
Natural gas liquids |  | 2 |  |  | 2 |  |  | — |
(2)Includes a noncontrolling interest in Egypt and Altus Midstream. (3)Intercompany balances are excluded from total assets. (4)Exploration expense under Intersegment Eliminations & Other primarily reflects the Company’s Suriname exploration activities.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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