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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 1,031 $ 496
Trade receivables 175 216
Inventories 56 72
Assets held for sale 13 13
Receivable from affiliate 61 19
Other current assets, net 103 113
Total current assets 1,439 929
PROPERTY, PLANT AND EQUIPMENT 3,548 3,437
Accumulated depreciation, depletion and amortization (775) (667)
Total property, plant and equipment, net 2,773 2,770
INVESTMENT IN UNCONSOLIDATED SUBSIDIARY 17 19
DEFERRED INCOME TAXES 139 132
OTHER NONCURRENT ASSETS 122 148
TOTAL ASSETS 4,490 3,998
CURRENT LIABILITIES    
Accounts payable 248 245
Liabilities associated with assets held for sale 5 5
Accrued liabilities 340 366
Total current liabilities 593 616
NONCURRENT LIABILITIES    
Long-term debt, net 1,161 540
Asset retirement obligations 436 422
Other long-term liabilities 248 201
STOCKHOLDERS' EQUITY    
Preferred stock (20,000,000 shares authorized at $0.01 par value) no shares outstanding at June 30, 2024 and December 31, 2023 0 0
Common stock (200,000,000 shares authorized at $0.01 par value) (84,510,451 and 83,557,800 shares issued; 67,876,933 and 68,693,885 shares outstanding at June 30, 2024 and December 31, 2023) 1 1
Treasury stock (16,633,518 shares held at cost at June 30, 2024 and 14,863,915 shares held at cost at December 31, 2023) (697) (604)
Additional paid-in capital 1,302 1,329
Retained earnings 1,374 1,419
Accumulated other comprehensive income 72 74
Total stockholders' equity 2,052 2,219
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,490 $ 3,998