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LEASES (Tables)
 12 Months Ended
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:
Classification20242023
Assets
(in millions)
Operating lease, net
Other noncurrent assets$105 $73 
Finance lease, net
PP&E3 — 
Total lease assets
$108 $73 
Liabilities
Current
Operating lease
Accrued liabilities$15 $15 
Finance lease
Accrued liabilities1 — 
Long-term
Operating leaseOther long-term liabilities$76 $55 
Finance leaseOther long-term liabilities2 — 
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,
20242023
(in millions)
Operating lease costs$26 $23 
Short-term lease costs(a)
50 52 
Variable lease costs2 2 
Total operating lease costs78 77 
Finance lease costs1 — 
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,
20242023
(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 $— 
20242023
Operating Leases
Weighted-average remaining lease term (in years)5.957.34
Weighted-average discount rate8.1 %6.7 %
Finance Leases
Weighted-average remaining lease term (in years)3.37— 
Weighted-average discount rate9.0 %— %
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 
202625 1 
202719 1 
202817 — 
202912 — 
Thereafter23 — 
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 
202625 1 
202719 1 
202817 — 
202912 — 
Thereafter23 — 
Less: Interest(24)— 
Present value of lease liabilities$99 $3