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SUPPLEMENTAL ACCOUNT BALANCES (Tables)
 6 Months Ended
Jun. 30, 2024
SUPPLEMENTAL INFORMATION [Abstract]  
Schedule of Disaggregated Revenue
The following table provides disaggregated revenue for sales of produced oil, natural gas and NGLs to customers:

Three months ended
June 30,		Six months ended
June 30,
2024202320242023
(in millions)(in millions)
Oil$353 $362 $701 $752 
Natural gas14 43 46 306 
NGLs45 42 94 104 
Oil, natural gas and NGL sales$412 $447 $841 $1,162 

From time-to-time, we enter into transactions for third-party production, which we report as revenue from marketing of purchased commodities on our condensed consolidated statements of operations. Revenues from marketing of purchased commodities primarily results from the storage or transportation of natural gas to take advantage of differences in pricing or location, or in the quality of products other than natural gas. The following table provides disaggregated revenue for sales to customers related to our marketing activities:

Three months ended
June 30,		Six months ended
June 30,
2024202320242023
(in millions)
Oil$28 $— $48 $— 
Natural gas23 72 71 256 
NGLs— — 6 3 
Revenue from marketing of purchased commodities
$51 $72 $125 $259 
Schedule of Inventories Inventories, by category, are as follows:
June 30,December 31,
20242023
(in millions)
Materials and supplies$54 $68 
Finished goods2 4 
Inventories$56 $72 
Schedule of Other Current Assets, Net Other current assets, net include the following:
June 30,December 31,
20242023
(in millions)
Net amounts due from joint interest partners(a)
$48 $43 
Fair value of commodity derivative contracts— 21 
Prepaid expenses16 19 
Greenhouse gas allowances12 12 
Income tax receivable8 — 
Other19 18 
Other current assets, net$103 $113 
(a)Included in the June 30, 2024 and December 31, 2023 net amounts due from joint interest partners are allowances of $3 million.
Schedule of Other Noncurrent Assets Other noncurrent assets include the following:
June 30,December 31,
20242023
(in millions)
Operating lease right-of-use assets$83 $73 
Deferred financing costs - Revolving Credit Facility12 11 
Emission reduction credits 11 11 
Prepaid power plant maintenance2 34 
Fair value of commodity derivative contracts— 6 
Deposits and other 14 13 
Other noncurrent assets$122 $148 
Schedule of Accrued Liabilities Accrued liabilities include the following:
June 30,December 31,
20242023
(in millions)
Employee-related costs$69 $82 
Taxes other than on income36 35 
Asset retirement obligations77 99 
Interest21 18 
Operating lease liability19 15 
Fair value of derivative contracts28 8 
Premiums due on commodity derivative contracts13 21 
Liability for settlement payments on commodity derivative contracts2 8 
Amounts due under production-sharing contracts16 5 
Signal Hill maintenance2 12 
Income taxes payable— 18 
Other57 45 
 Accrued liabilities$340 $366 
Schedule of Other Long-term Liabilities Other long-term liabilities includes the following:
June 30,December 31,
20242023
(in millions)
Compensation-related liabilities$35 $38 
Postretirement benefit plan33 36 
Operating lease liability55 55 
Fair value of commodity derivative contracts
10 2 
Premiums due on commodity derivative contracts7 10 
Contingent liability (related to Carbon TerraVault JV put and call rights)102 52 
Other6 8 
Other long-term liabilities$248 $201 
Schedule of General and Administrative Expenses The table below shows G&A expenses for our exploration and production business (including unallocated corporate overhead and other) separately from our carbon management business. The amounts shown for our carbon management business are net of amounts invoiced by us under the MSA with the Carbon TerraVault JV. See Note 2 Investment in Unconsolidated Subsidiary and Related Party Transactions for more information on the Carbon TerraVault JV.
Three months ended
June 30,		Six months ended
June 30,
2024202320242023
(in millions)(in millions)
Exploration and production, corporate and other
$60 $68 $115 $130 
Carbon management business
3 3 5 6 
Total general and administrative expenses$63 $71 $120 $136