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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 372 $ 496
Trade receivables 330 216
Inventories 90 72
Assets held for sale 10 13
Receivables from affiliate 46 19
Other current assets, net 176 113
Total current assets 1,024 929
PROPERTY, PLANT AND EQUIPMENT 6,738 3,437
Accumulated depreciation, depletion and amortization (1,058) (667)
Total property, plant and equipment, net 5,680 2,770
INVESTMENT IN UNCONSOLIDATED SUBSIDIARIES 86 19
DEFERRED TAX ASSETS 73 132
OTHER NONCURRENT ASSETS 272 148
TOTAL ASSETS 7,135 3,998
CURRENT LIABILITIES    
Accounts payable 369 245
Liabilities associated with assets held for sale 0 5
Accrued liabilities 611 366
Total current liabilities 980 616
NONCURRENT LIABILITIES    
Long-term debt, net 1,132 540
Asset retirement obligations 995 422
Deferred tax liabilities 113 0
Other long-term liabilities 377 201
STOCKHOLDERS' EQUITY    
Preferred stock (20,000,000 shares authorized at $0.01 par value); no shares outstanding at December 31, 2024 or 2023 0 0
Common stock (200,000,000 shares authorized at $0.01 par value); (109,613,585 and 83,557,800 shares issued; 91,100,322 and 68,693,885 shares outstanding at December 31, 2024 and 2023, respectively) 1 1
Treasury stock (18,513,263 shares held at cost at December 31, 2024 and 14,863,915 shares held at December 31, 2023) (796) (604)
Additional paid-in capital 2,578 1,329
Retained earnings 1,680 1,419
Accumulated other comprehensive income 75 74
Total stockholders' equity 3,538 2,219
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,135 $ 3,998