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STATEMENT OF CONSOLIDATED OPERATIONS - USD ($)
shares in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Derivative instrument gains (losses), net $ 99,000,000 $ (114,000,000) $ 94,000,000
Gain on divestitures, net 8,000,000 1,180,000,000 67,000,000
Losses on previously sold Gulf of Mexico properties (212,000,000) (157,000,000) (446,000,000)
Other, net 18,000,000 148,000,000 228,000,000
Total revenues and other 8,192,000,000 12,132,000,000 7,928,000,000
OPERATING EXPENSES:      
Lease operating expenses [1] 1,436,000,000 1,444,000,000 1,241,000,000
Taxes other than income 207,000,000 268,000,000 204,000,000
Exploration 195,000,000 305,000,000 155,000,000
General and administrative 351,000,000 483,000,000 376,000,000
Transaction, reorganization, and separation 15,000,000 26,000,000 22,000,000
Depreciation, depletion, and amortization 1,540,000,000 1,233,000,000 1,360,000,000
Asset retirement obligation accretion 116,000,000 117,000,000 113,000,000
Impairments 61,000,000 0 208,000,000
Financing costs, net 312,000,000 379,000,000 514,000,000
Total operating expenses 5,309,000,000 6,398,000,000 6,037,000,000
NET INCOME BEFORE INCOME TAXES 2,883,000,000 5,734,000,000 1,891,000,000
Current income tax provision 1,338,000,000 1,507,000,000 652,000,000
Deferred income tax provision (benefit) (1,662,000,000) 145,000,000 (74,000,000)
NET INCOME INCLUDING NONCONTROLLING INTERESTS 3,207,000,000 4,082,000,000 1,313,000,000
Net income (loss) attributable to Altus Preferred Unit limited partners 0 (70,000,000) 162,000,000
NET INCOME ATTRIBUTABLE TO COMMON STOCK $ 2,855,000,000 $ 3,674,000,000 $ 973,000,000
NET INCOME PER COMMON SHARE:      
Basic (in USD per share) $ 9.26 $ 11.05 $ 2.60
Diluted (in USD per share) $ 9.25 $ 11.02 $ 2.59
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:      
Basic (in shares) 308 332 374
Diluted (in shares) 309 333 375
Noncontrolling interest - Egypt      
OPERATING EXPENSES:      
Net income (loss) attributable to noncontrolling interest $ 352,000,000 $ 464,000,000 $ 174,000,000
Noncontrolling interest - Altus      
OPERATING EXPENSES:      
Net income (loss) attributable to noncontrolling interest 0 14,000,000 4,000,000
Oil and gas      
Total revenues 8,279,000,000 11,075,000,000 7,985,000,000
Oil and gas, excluding purchased      
Total revenues [1] 7,385,000,000 9,220,000,000 6,498,000,000
OPERATING EXPENSES:      
Gathering, processing, and transmission & purchased oil and gas costs [1] 334,000,000 367,000,000 264,000,000
Purchased oil and gas costs      
Total revenues [1] 894,000,000 1,855,000,000 1,487,000,000
OPERATING EXPENSES:      
Gathering, processing, and transmission & purchased oil and gas costs [1] $ 742,000,000 $ 1,776,000,000 $ 1,580,000,000
[1]
(1) For related party transactions associated with Kinetik, refer to Note 6—Equity Method Interest for further detail.