XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES        
Oil, natural gas and NGL sales $ 412 $ 447 $ 841 $ 1,162
Net gain (loss) from commodity derivatives 5 31 (66) 73
Total operating revenues 514 591 968 1,615
OPERATING EXPENSES        
Operating costs 156 186 332 440
General and administrative expenses 63 71 120 136
Depreciation, depletion and amortization 53 56 106 114
Asset impairments 13 0 13 3
Taxes other than on income 39 42 77 84
Exploration expense 0 1 1 2
Accretion expense 13 11 25 23
Carbon management business expenses 15 8 23 13
Other operating expenses, net 51 13 88 21
Total operating expenses 477 444 941 1,082
Gain on asset divestitures 1 0 7 7
OPERATING INCOME 38 147 34 540
NON-OPERATING (EXPENSES) INCOME        
Interest and debt expense (17) (14) (30) (28)
Loss from investment in unconsolidated subsidiary (4) (1) (7) (3)
Other non-operating (loss) income (6) 3 (5) 2
INCOME (LOSS) BEFORE INCOME TAXES 11 135 (8) 511
Income tax (provision) benefit (3) (38) 6 (113)
NET INCOME (LOSS) $ 8 $ 97 $ (2) $ 398
Net income (loss) per share        
Basic (in dollars per share) $ 0.12 $ 1.39 $ (0.03) $ 5.65
Diluted (in dollars per share) $ 0.11 $ 1.35 $ (0.03) $ 5.47
Weighted-average common shares outstanding        
Basic (in shares) 68.1 69.7 68.6 70.5
Diluted (in shares) 70.0 71.9 68.6 72.7
Revenue from marketing of purchased commodities        
REVENUES        
Revenue not from contract with customer $ 51 $ 72 $ 125 $ 259
OPERATING EXPENSES        
Costs of sales 43 27 97 151
Electricity sales        
REVENUES        
Revenue not from contract with customer 36 34 51 102
Interest and other revenue        
REVENUES        
Revenue not from contract with customer 10 7 17 19
Electricity generation expenses        
OPERATING EXPENSES        
Costs of sales 14 13 22 62
Transportation costs        
OPERATING EXPENSES        
Costs of sales $ 17 $ 16 $ 37 $ 33