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SUPPLEMENTAL OIL AND GAS DISCLOSURES (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2023
Extractive Industries [Abstract]  
Schedule of Revenue and Direct Cost Information Relating to Company's Oil and Gas Exploration and Production Activities
The following table sets forth revenue and direct cost information relating to the Company’s oil and gas exploration and production activities. The Company has no long-term agreements to purchase oil or gas production from foreign governments or authorities.
United
States
Egypt(1)
North SeaOther
International
Total(1)
 (In millions, except per boe)
2023
Oil and gas production revenues$3,018 $3,029 $1,338 $— $7,385 
Operating cost:
Depreciation, depletion, and amortization(2)
709 521 270 — 1,500 
Asset retirement obligation accretion40 — 76 — 116 
Lease operating expenses593 474 369 — 1,436 
Gathering, processing, and transmission249 33 52 — 334 
Exploration expenses14 119 19 43 195 
Production taxes(3)
204 — — — 204 
Income tax254 828 414 — 1,496 
2,063 1,975 1,200 43 5,281 
Results of operations$955 $1,054 $138 $(43)$2,104 
2022
Oil and gas production revenues$4,144 $3,521 $1,558 $— $9,223 
Operating cost:
Depreciation, depletion, and amortization(2)
564 390 232 — 1,186 
Asset retirement obligation accretion34 — 82 — 116 
Lease operating expenses515 526 404 — 1,445 
Gathering, processing, and transmission315 22 43 — 380 
Exploration expenses24 84 35 162 305 
Production taxes(3)
263 — — — 263 
Income tax510 1,100 495 — 2,105 
2,225 2,122 1,291 162 5,800 
Results of operations$1,919 $1,399 $267 $(162)$3,423 
2021
Oil and gas production revenues$3,280 $2,085 $1,136 $— $6,501 
Operating cost:
Depreciation, depletion, and amortization(2)
511 477 267 — 1,255 
Asset retirement obligation accretion30 — 79 — 109 
Lease operating expenses391 469 383 — 1,243 
Gathering, processing, and transmission309 12 39 — 360 
Exploration expenses28 63 34 30 155 
Production taxes(3)
188 — — — 188 
Income tax383 479 134 — 996 
1,840 1,500 936 30 4,306 
Results of operations$1,440 $585 $200 $(30)$2,195 
(1)Includes a noncontrolling interest in Egypt.
(2)Reflects DD&A of capitalized costs of oil and gas properties and, therefore, does not agree with DD&A reflected on Note 17—Business Segment Information.
(3)Reflects only amounts directly related to oil and gas producing properties and, therefore, does not agree with taxes other than income reflected on Note 17—Business Segment Information.
Schedule of Costs Incurred in Oil and Gas Property Acquisitions, Exploration and Development Activities
Costs Incurred in Oil and Gas Property Acquisitions, Exploration, and Development Activities
United
States
Egypt(2)
North SeaOther
International
Total(2)
 (In millions)
2023
Acquisitions:
Proved$$$— $— $
Unproved20 — — — 20 
Exploration31 226 44 131 432 
Development1,148 646 468 — 2,262 
Costs incurred(1)
$1,200 $876 $512 $131 $2,719 
(1) Includes capitalized interest and asset retirement costs:
Capitalized interest$— $— $— $24 $24 
Asset retirement costs(4)— 375 — 371 
2022
Acquisitions:
Proved$596 $$— $— $599 
Unproved66 — — — 66 
Exploration169 61 311 545 
Development848 568 (57)— 1,359 
Costs incurred(1)
$1,514 $740 $$311 $2,569 
(1) Includes capitalized interest and asset retirement costs:
Capitalized interest$— $— $$17 $18 
Asset retirement costs79 — (215)— (136)
2021
Acquisitions:
Proved$— $(157)$— $— $(157)
Unproved20 — — 29 
Exploration86 39 170 301 
Development545 404 135 1,086 
Costs incurred(1)
$560 $353 $174 $172 $1,259 
(1) Includes capitalized interest, asset retirement costs, and Egypt modernization impacts as follows:
Capitalized interest$— $— $— $$
Asset retirement costs130 — 19 — 149 
Egypt PSC modernization impacts – Proved and Unproved
— (145)— — (145)
(2) Includes a noncontrolling interest in Egypt.
The following table sets forth the capitalized costs and associated accumulated depreciation, depletion, and amortization relating to the Company’s oil and gas acquisition, exploration, and development activities:
United
States
Egypt(1)
North
Sea
Other
International
Total(1)
 (In millions)
2023
Proved properties$20,758 $13,777 $9,472 $— $44,007 
Unproved properties267 71 512 853 
21,025 13,848 9,475 512 44,860 
Accumulated DD&A(15,587)(11,678)(7,849)— (35,114)
$5,438 $2,170 $1,626 $512 $9,746 
2022
Proved properties$19,638 $13,014 $8,945 $— $41,597 
Unproved properties247 77 11 424 759 
19,885 13,091 8,956 424 42,356 
Accumulated DD&A(14,902)(11,157)(7,573)— (33,632)
$4,983 $1,934 $1,383 $424 $8,724 
(1)Includes a noncontrolling interest in Egypt.
Schedule of Proved Reserve Data
There are numerous uncertainties inherent in estimating quantities of proved reserves and projecting future rates of production and timing of development expenditures. The reserve data in the following tables only represent estimates and should not be construed as being exact.
 Crude Oil and Condensate
 United
States
Egypt(1)
North
Sea
Total(1)
(Thousands of barrels)
Proved developed reserves:
December 31, 2020
206,936 95,981 86,566 389,483 
December 31, 2021
180,968 106,646 77,073 364,687 
December 31, 2022
177,708 108,050 82,580 368,338 
December 31, 2023
179,542 102,305 61,076 342,923 
Proved undeveloped reserves:
December 31, 202025,516 11,228 7,273 44,017 
December 31, 202118,168 11,003 5,757 34,928 
December 31, 202222,239 8,557 2,873 33,669 
December 31, 202330,948 5,254 — 36,202 
Total proved reserves:
Balance December 31, 2020232,452 107,209 93,839 433,500 
Extensions, discoveries and other additions17,869 13,390 2,288 33,547 
Purchases of minerals in-place126 — — 126 
Revisions of previous estimates(4,479)22,727 (60)18,188 
Production(27,450)(25,677)(13,237)(66,364)
Sales of minerals in-place(19,382)— — (19,382)
Balance December 31, 2021199,136 117,649 82,830 399,615 
Extensions, discoveries and other additions9,776 7,580 2,616 19,972 
Purchases of minerals in-place16,362 — — 16,362 
Revisions of previous estimates7,793 22,433 11,898 42,124 
Production(25,695)(31,055)(11,891)(68,641)
Sales of minerals in-place(7,425)— — (7,425)
Balance December 31, 2022199,947 116,607 85,453 402,007 
Extensions, discoveries and other additions43,613 12,979 301 56,893 
Purchases of minerals in-place20 — — 20 
Revisions of previous estimates(3,520)10,505 (12,002)(5,017)
Production(28,795)(32,532)(12,676)(74,003)
Sales of minerals in-place(775)— — (775)
Balance December 31, 2023210,490 107,559 61,076 379,125 
(1)Includes proved reserves of 36 MMbbls, 39 MMbbls, 39 MMbbls, and 36 MMbbls as of December 31, 2023, 2022, 2021, and 2020, respectively, attributable to a noncontrolling interest in Egypt.
 Natural Gas Liquids
 United
States
Egypt(1)
North
Sea
Total(1)
(Thousands of barrels)
Proved developed reserves:
December 31, 2020
150,599 716 2,053 153,368 
December 31, 2021
164,172 446 2,059 166,677 
December 31, 2022
158,745 — 2,230 160,975 
December 31, 2023
153,486 — 1,460 154,946 
Proved undeveloped reserves:
December 31, 202015,141 126 320 15,587 
December 31, 202116,380 30 275 16,685 
December 31, 202219,004 — 76 19,080 
December 31, 202318,401 — — 18,401 
Total proved reserves:
Balance December 31, 2020165,740 842 2,373 168,955 
Extensions, discoveries and other additions21,055 81 21,143 
Purchases of minerals in-place191 — — 191 
Revisions of previous estimates22,724 (180)318 22,862 
Production(24,175)(193)(438)(24,806)
Sales of minerals in-place(4,983)— — (4,983)
Balance December 31, 2021180,552 476 2,334 183,362 
Extensions, discoveries and other additions5,456 — 45 5,501 
Purchases of minerals in-place10,985 — — 10,985 
Revisions of previous estimates9,991 (407)333 9,917 
Production(22,895)(69)(406)(23,370)
Sales of minerals in-place(6,340)— — (6,340)
Balance December 31, 2022177,749 — 2,306 180,055 
Extensions, discoveries and other additions25,711 — 371 26,082 
Purchases of minerals in-place21 — — 21 
Revisions of previous estimates(8,568)— (764)(9,332)
Production(22,993)— (453)(23,446)
Sales of minerals in-place(33)— — (33)
Balance December 31, 2023171,887 — 1,460 173,347 
(1)  Includes proved reserves of 159 Mbbls and 281 Mbbls as of December 31, 2021 and 2020, respectively, attributable to a noncontrolling interest in Egypt.
 Natural Gas
 United
States
Egypt(1)
North
Sea
Total(1)
(Millions of cubic feet)
Proved developed reserves:
December 31, 20201,052,756 409,035 68,159 1,529,950 
December 31, 20211,237,461 464,826 76,155 1,778,442 
December 31, 20221,166,218 399,502 66,292 1,632,012 
December 31, 20231,003,956 377,144 46,839 1,427,939 
Proved undeveloped reserves:
December 31, 202076,504 12,572 8,341 97,417 
December 31, 2021184,441 9,899 7,124 201,464 
December 31, 2022210,862 1,068 2,304 214,234 
December 31, 202399,495 2,612 — 102,107 
Total proved reserves:
Balance December 31, 20201,129,260 421,607 76,500 1,627,367 
Extensions, discoveries and other additions227,684 50,209 3,684 281,577 
Purchases of minerals in-place839 — — 839 
Revisions of previous estimates279,610 99,143 17,171 395,924 
Production(192,523)(96,234)(14,076)(302,833)
Sales of minerals in-place(22,968)— — (22,968)
Balance December 31, 20211,421,902 474,725 83,279 1,979,906 
Extensions, discoveries and other additions38,157 10,191 1,643 49,991 
Purchases of minerals in-place70,584 — — 70,584 
Revisions of previous estimates92,599 45,725 (3,431)134,893 
Production(172,752)(130,071)(12,895)(315,718)
Sales of minerals in-place(73,410)— — (73,410)
Balance December 31, 20221,377,080 400,570 68,596 1,846,246 
Extensions, discoveries and other additions158,118 14,188 3,335 175,641 
Purchases of minerals in-place136 — — 136 
Revisions of previous estimates(266,664)83,907 (6,739)(189,496)
Production(165,083)(118,909)(18,353)(302,345)
Sales of minerals in-place(136)— — (136)
Balance December 31, 20231,103,451 379,756 46,839 1,530,046 
(1) Includes proved reserves of 127 Bcf, 134 Bcf, 158 Bcf, and 141 Bcf as of December 31, 2023, 2022, 2021, and 2020, respectively, attributable to a noncontrolling interest in Egypt.
 Total Equivalent Reserves
 United
States
Egypt(1)
North
Sea
Total(1)
(Thousands barrels of oil equivalent)
Proved developed reserves:
December 31, 2020532,994 164,870 99,979 797,843 
December 31, 2021551,384 184,563 91,825 827,772 
December 31, 2022530,823 174,633 95,859 801,315 
December 31, 2023500,354 165,162 70,343 735,859 
Proved undeveloped reserves:
December 31, 202053,408 13,449 8,983 75,840 
December 31, 202165,288 12,683 7,219 85,190 
December 31, 202276,386 8,735 3,333 88,454 
December 31, 202365,931 5,690 — 71,621 
Total proved reserves:
Balance December 31, 2020586,402 178,319 108,962 873,683 
Extensions, discoveries and other additions76,871 21,765 2,983 101,619 
Purchases of minerals in-place457 — — 457 
Revisions of previous estimates64,847 39,071 3,120 107,038 
Production(83,712)(41,909)(16,021)(141,642)
Sales of minerals in-place(28,193)— — (28,193)
Balance December 31, 2021616,672 197,246 99,044 912,962 
Extensions, discoveries and other additions21,592 9,278 2,935 33,805 
Purchases of minerals in-place39,110 — — 39,110 
Revisions of previous estimates33,217 29,647 11,659 74,523 
Production(77,382)(52,803)(14,446)(144,631)
Sales of minerals in-place(26,000)— — (26,000)
Balance December 31, 2022607,209 183,368 99,192 889,769 
Extensions, discoveries and other additions95,677 15,344 1,228 112,249 
Purchases of minerals in-place64 — — 64 
Revisions of previous estimates(56,532)24,490 (13,889)(45,931)
Production(79,302)(52,350)(16,188)(147,840)
Sales of minerals in-place(831)— — (831)
Balance December 31, 2023566,285 170,852 70,343 807,480 
(1) Includes total proved reserves of 57 MMboe, 61 MMboe, 66 MMboe, and 59 MMboe as of December 31, 2023, 2022, 2021, and 2020, respectively, attributable to a noncontrolling interest in Egypt.
Schedule of Unaudited Information of Future Net Cash Flows For Oil and Gas Reserves, Net of Income Tax Expense
The following table sets forth unaudited information concerning future net cash flows for proved oil and gas reserves, net of income tax expense. Income tax expense has been computed using expected future tax rates and giving effect to tax deductions and credits available, under laws in effect as of December 31, 2023, and which relate to oil and gas producing activities. This information does not purport to present the fair market value of the Company’s oil and gas assets, but does present a standardized disclosure concerning possible future net cash flows that would result under the assumptions used.
United
States
Egypt(1)
North
Sea
Total(1)
 (In millions)
2023
Cash inflows$21,417 $9,921 $5,761 $37,099 
Production costs(8,328)(1,690)(2,773)(12,791)
Development costs(2,238)(1,235)(2,461)(5,934)
Income tax expense(949)(2,222)(946)(4,117)
Net cash flows9,902 4,774 (419)14,257 
10 percent discount rate(3,749)(943)476 (4,216)
Discounted future net cash flows(2)
$6,153 $3,831 $57 $10,041 
2022
Cash inflows$31,577 $12,819 $10,147 $54,543 
Production costs(10,763)(2,086)(3,241)(16,090)
Development costs(1,733)(1,471)(2,297)(5,501)
Income tax expense(1,575)(2,729)(2,631)(6,935)
Net cash flows17,506 6,533 1,978 26,017 
10 percent discount rate(6,811)(1,400)(204)(8,415)
Discounted future net cash flows(2)
$10,695 $5,133 $1,774 $17,602 
2021
Cash inflows$22,852 $9,337 $6,832 $39,021 
Production costs(8,323)(1,712)(2,343)(12,378)
Development costs(1,632)(1,402)(2,533)(5,567)
Income tax expense(134)(1,887)(768)(2,789)
Net cash flows12,763 4,336 1,188 18,287 
10 percent discount rate(5,294)(983)350 (5,927)
Discounted future net cash flows(2)
$7,469 $3,353 $1,538 $12,360 
(1)Includes discounted future net cash flows of approximately $1.3 billion, $1.7 billion, and $1.1 billion as of December 31, 2023, 2022, and 2021, respectively, attributable to a noncontrolling interest in Egypt.
(2)Estimated future net cash flows before income tax expense, discounted at 10 percent per annum, totaled approximately $13.6 billion, $22.6 billion, and $14.9 billion as of December 31, 2023, 2022, and 2021, respectively.
Schedule of Principal Sources of Change In Discounted Future Net Cash Flows
The following table sets forth the principal sources of change in the discounted future net cash flows:
 For the Year Ended December 31,
 202320222021
 (In millions)
Sales, net of production costs$(5,408)$(7,131)$(4,707)
Net change in prices and production costs(7,089)8,690 9,376 
Discoveries and improved recovery, net of related costs1,869 1,142 1,749 
Change in future development costs(413)(343)(839)
Previously estimated development costs incurred during the period825 669 545 
Revision of quantities(262)2,646 1,983 
Purchases of minerals in-place911 
Accretion of discount2,260 1,489 626 
Change in income taxes1,467 (2,467)(1,583)
Sales of minerals in-place(18)(363)(116)
Change in production rates and other(793)(1)13 
$(7,561)$5,242 $7,048