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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Schedule of Balance Sheet Information Related to Operating Leases | We have recorded the following amounts on our balance sheet as of December 31, 2024 and 2023:
| Classification |  | 2024 |  | 2023
Assets |  |  | (in millions)
Operating lease, net | Other noncurrent assets |  | $ | 105 |  |  | $ | 73 |
Finance lease, net | PP&E |  | 3 |  |  | — |
Total lease assets |  |  | $ | 108 |  |  | $ | 73 |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating lease | Accrued liabilities |  | $ | 15 |  |  | $ | 15 |
Finance lease | Accrued liabilities |  | 1 |  |  | — |
Long-term |  |  |  |  |
Operating lease | Other long-term liabilities |  | $ | 76 |  |  | $ | 55 |
Finance lease | Other long-term liabilities |  | 2 |  |  | — |
Total lease liabilities |  |  | $ | 94 |  |  | $ | 70 |
Schedule of Operating Lease Costs | Our lease costs, including amounts capitalized to PP&E, shown in the table below are before joint-interest recoveries. Lease payments are reduced by joint interest recoveries on our consolidated statement of operations through our joint-interest billing process.
| Year ended December 31,
| 2024 |  | 2023
| (in millions)
Operating lease costs | $ | 26 |  |  | $ | 23 |
Short-term lease costs(a) | 50 |  |  | 52 |
Variable lease costs | 2 |  |  | 2 |
Total operating lease costs | 78 |  |  | 77 |
Finance lease costs | 1 |  |  | — |
Sublease income | (2) |  |  | (2) |
Total lease costs | $ | 77 |  |  | $ | 75 |
(a)Contracts with terms of less than one month or less are excluded from our disclosure of short-term lease costs.
Schedule of Other Operating and Finance Lease Information | Other supplemental information related to our operating leases as of December 31, 2024 and 2023 is provided below:
| Year ended December 31,
| 2024 |  | 2023
| (in millions)
Cash paid for lease liabilities |  |  |
Lease liabilities associated with operating activities | $ | 29 |  |  | $ | 28 |
Lease liabilities associated with investing activities | $ | 8 |  |  | $ | 2 |
Lease liabilities associated with financing activities | $ | 1 |  |  | $ | — |
ROU assets obtained in exchange for new operating lease liabilities | $ | 52 |  |  | $ | 32 |
ROU assets obtained in exchange for new finance lease liabilities | $ | 3 |  |  | $ | — |
| 2024 |  | 2023
Operating Leases |  |  |
Weighted-average remaining lease term (in years) | 5.95 |  | 7.34
Weighted-average discount rate | 8.1 | % |  | 6.7 | %
Finance Leases |  |  |
Weighted-average remaining lease term (in years) | 3.37 |  | — |
Weighted-average discount rate | 9.0 | % |  | — | %
Schedule of Maturities of our Operating Lease Liabilities | Our operating and finance lease payments as of December 31, 2024 are as follows:
| Operating Leases |  | Finance Leases
| (in millions)
2025 | $ | 27 |  |  | $ | 1 |
2026 | 25 |  |  | 1 |
2027 | 19 |  |  | 1 |
2028 | 17 |  |  | — |
2029 | 12 |  |  | — |
Thereafter | 23 |  |  | — |
Less: Interest | (24) |  |  | — |
Present value of lease liabilities | $ | 99 |  |  | $ | 3 |
Schedule of Maturities of our Financing Lease Liabilities | Our operating and finance lease payments as of December 31, 2024 are as follows:
| Operating Leases |  | Finance Leases
| (in millions)
2025 | $ | 27 |  |  | $ | 1 |
2026 | 25 |  |  | 1 |
2027 | 19 |  |  | 1 |
2028 | 17 |  |  | — |
2029 | 12 |  |  | — |
Thereafter | 23 |  |  | — |
Less: Interest | (24) |  |  | — |
Present value of lease liabilities | $ | 99 |  |  | $ | 3 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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