XML 92 R52.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Supplemental Oil and Gas Information (Unaudited) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Oil and Gas Exploration and Production Industries Disclosures [Abstract] |
Summary of Proved Reserves Based on Average Prices |
| Equivalents
(Millions of barrels of oil equivalent) | Total |  | United States |  | Canada |  | Other
Proved developed and undeveloped reserves: |  |  |  |  |  |  |
December 31, 2020 | 714.9 |  |  | 328.5 |  |  | 386.4 |  |  | – |
Revisions of previous estimates | (52.9) |  |  | 35.6 |  |  | (89.3) |  |  | 0.8 |
Extensions and discoveries | 109.4 |  |  | 18.2 |  |  | 91.3 |  |  | – |
Purchases of properties | 7.4 |  |  | 1.6 |  |  | 5.8 |  |  | – |
Sales of properties | (0.7) |  |  | – |  |  | (0.7) |  |  | – |
Production | (61.1) |  |  | (40.4) |  |  | (20.6) |  |  | (0.1) |
December 31, 2021 | 716.9 |  |  | 343.4 |  |  | 372.8 |  |  | 0.7 |
Revisions of previous estimates | (23.6) |  |  | 29.0 |  |  | (52.8) |  |  | 0.2 |
Improved recovery | 5.3 |  |  | 5.3 |  |  | – |  |  | – |
Extensions and discoveries | 80.1 |  |  | 20.6 |  |  | 59.5 |  |  | – |
Purchases of properties | 5.0 |  |  | 5.0 |  |  | – |  |  | – |
Sales of properties | (4.4) |  |  | (4.4) |  |  | – |  |  | – |
Production | (63.9) |  |  | (41.9) |  |  | (21.7) |  |  | (0.3) |
December 31, 2022 | 715.4 |  |  | 357.0 |  |  | 357.8 |  |  | 0.6 |
Revisions of previous estimates | (13.3) |  |  | (13.3) |  |  | 0.2 |  |  | (0.2) |
Improved recovery | 0.4 |  |  | – |  |  | 0.4 |  |  | – |
Extensions and discoveries | 112.6 |  |  | 12.7 |  |  | 87.3 |  |  | 12.6 |
Sales of properties | (5.2) |  |  | – |  |  | (5.2) |  |  | – |
Production | (70.4) |  |  | (45.3) |  |  | (25.0) |  |  | (0.1) |
December 31, 2023 ¹ | 739.5 |  |  | 311.1 |  |  | 415.5 |  |  | 12.9 |
Proved developed reserves: |  |  |  |  |  |  |
December 31, 2020 | 410.8 |  |  | 230.3 |  |  | 180.5 |  |  | – |
December 31, 2021 | 419.2 |  |  | 241.9 |  |  | 176.8 |  |  | 0.6 |
December 31, 2022 | 436.0 |  |  | 264.2 |  |  | 171.3 |  |  | 0.5 |
December 31, 2023 ² | 425.5 |  |  | 223.2 |  |  | 202.0 |  |  | 0.3 |
Proved undeveloped reserves: |  |  |  |  |  |  |
December 31, 2020 | 304.1 |  |  | 98.2 |  |  | 205.9 |  |  | – |
December 31, 2021 | 297.7 |  |  | 101.6 |  |  | 196.0 |  |  | 0.1 |
December 31, 2022 | 279.4 |  |  | 92.8 |  |  | 186.5 |  |  | 0.1 |
December 31, 2023 ³ | 314.0 |  |  | 87.9 |  |  | 213.5 |  |  | 12.6 |
1 Includes proved reserves of 15.5 MMBOE, consisting of 14.0 MMBBL oil, 0.6 MMBBL NGLs and 5.3 BCF natural gas attributable to the noncontrolling interest in MP GOM. 2 Includes proved developed reserves of 12.8 MMBOE, consisting of 11.7 MMBBL oil, 0.5 MMBBL NGLs and 3.8 BCF natural gas attributable to the noncontrolling interest in MP GOM. 3 Includes proved undeveloped reserves of 2.7 MMBOE, consisting of 2.3 MMBBL oil, 0.1 MMBBL NGLs and 1.5 BCF natural gas attributable to the noncontrolling interest in MP GOM. 4 Totals within the tables may not add as a result of rounding.
(Millions of barrels) | Total |  | United States |  | Canada |  | Other
Proved developed and undeveloped crude oil reserves: |  |  |  |  |  |  |
December 31, 2020 | 266.5 |  |  | 240.6 |  |  | 25.9 |  |  | – |
Revisions of previous estimates | 39.3 |  |  | 31.1 |  |  | 7.5 |  |  | 0.7 |
Extensions and discoveries | 14.1 |  |  | 13.5 |  |  | 0.6 |  |  | – |
Purchases of properties | 6.4 |  |  | 1.3 |  |  | 5.2 |  |  | – |
Production | (34.9) |  |  | (31.5) |  |  | (3.3) |  |  | (0.1) |
December 31, 2021 | 291.5 |  |  | 255.0 |  |  | 35.9 |  |  | 0.6 |
Revisions of previous estimates | 23.4 |  |  | 19.9 |  |  | 3.3 |  |  | 0.2 |
Improved recovery | 4.7 |  |  | 4.7 |  |  | – |  |  | – |
Extensions and discoveries | 18.9 |  |  | 16.1 |  |  | 2.8 |  |  | – |
Purchases of properties | 4.2 |  |  | 4.2 |  |  | – |  |  | – |
Sales of properties | (3.6) |  |  | (3.6) |  |  | – |  |  | – |
Production | (35.5) |  |  | (32.7) |  |  | (2.5) |  |  | (0.3) |
December 31, 2022 | 303.6 |  |  | 263.6 |  |  | 39.5 |  |  | 0.5 |
Revisions of previous estimates | (10.8) |  |  | (8.9) |  |  | (1.8) |  |  | (0.1) |
Improved recovery | 0.4 |  |  | – |  |  | 0.4 |  |  | – |
Extensions and discoveries | 22.5 |  |  | 8.9 |  |  | 1.5 |  |  | 12.1 |
Sales of properties | (2.0) |  |  | – |  |  | (2.0) |  |  | – |
Production | (37.9) |  |  | (35.6) |  |  | (2.2) |  |  | (0.1) |
December 31, 2023 ¹ | 275.8 |  |  | 228.0 |  |  | 35.4 |  |  | 12.4 |
Proved developed crude oil reserves: |  |  |  |  |  |  |
December 31, 2020 | 179.8 |  |  | 161.4 |  |  | 18.4 |  |  | – |
December 31, 2021 | 191.5 |  |  | 174.9 |  |  | 16.0 |  |  | 0.5 |
December 31, 2022 | 209.0 |  |  | 194.4 |  |  | 14.2 |  |  | 0.4 |
December 31, 2023 ² | 186.3 |  |  | 163.7 |  |  | 22.3 |  |  | 0.3 |
Proved undeveloped crude oil reserves: |  |  |  |  |  |  |
December 31, 2020 | 86.7 |  |  | 79.2 |  |  | 7.5 |  |  | – |
December 31, 2021 | 99.9 |  |  | 80.0 |  |  | 19.8 |  |  | 0.1 |
December 31, 2022 | 94.6 |  |  | 69.2 |  |  | 25.3 |  |  | 0.1 |
December 31, 2023 ³ | 89.5 |  |  | 64.3 |  |  | 13.1 |  |  | 12.1 |
1 Includes total proved reserves of 14.0 MMBBL for Total and United States attributable to the noncontrolling interest in MP GOM. 2 Includes proved developed reserves of 11.7 MMBBL for Total and United States attributable to the noncontrolling interest in MP GOM. 3 Includes proved undeveloped reserves of 2.3 MMBBL for Total and United States attributable to the noncontrolling interest in MP GOM. 4 Totals within the tables may not add as a result of rounding.
(Millions of barrels) | Total |  | United States |  | Canada |  | Other
Proved developed and undeveloped NGL reserves: |  |  |  |  |  |  |
December 31, 2020 | 38.2 |  |  | 34.6 |  |  | 3.6 |  |  | – |
Revisions of previous estimates | 1.4 |  |  | 1.4 |  |  | – |  |  | – |
Extensions and discoveries | 2.5 |  |  | 2.4 |  |  | 0.1 |  |  | – |
Purchase of properties | 0.1 |  |  | 0.1 |  |  | – |  |  | – |
Production | (3.8) |  |  | (3.4) |  |  | (0.4) |  |  | – |
December 31, 2021 | 38.4 |  |  | 35.1 |  |  | 3.3 |  |  | – |
Revisions of previous estimates | 4.4 |  |  | 3.9 |  |  | 0.5 |  |  | – |
Improved recovery | 0.2 |  |  | 0.2 |  |  | – |  |  | – |
Extensions and discoveries | 2.5 |  |  | 1.9 |  |  | 0.6 |  |  | – |
Purchases of properties | 0.3 |  |  | 0.3 |  |  | – |  |  | – |
Sales of properties | (0.2) |  |  | (0.2) |  |  | – |  |  | – |
Production | (3.9) |  |  | (3.6) |  |  | (0.3) |  |  | – |
December 31, 2022 | 41.7 |  |  | 37.6 |  |  | 4.1 |  |  | – |
Revisions of previous estimates | (1.4) |  |  | (1.2) |  |  | (0.2) |  |  | – |
Extensions and discoveries | 2.0 |  |  | 1.7 |  |  | 0.3 |  |  | – |
Sales of properties | (0.6) |  |  | – |  |  | (0.6) |  |  | – |
Production | (4.1) |  |  | (3.8) |  |  | (0.3) |  |  | – |
December 31, 2023 ¹ | 37.6 |  |  | 34.3 |  |  | 3.3 |  |  | – |
Proved developed NGL reserves: |  |  |  |  |  |  |
December 31, 2020 | 28.7 |  |  | 25.5 |  |  | 3.2 |  |  | – |
December 31, 2021 | 28.4 |  |  | 25.6 |  |  | 2.8 |  |  | – |
December 31, 2022 | 29.7 |  |  | 27.4 |  |  | 2.3 |  |  | – |
December 31, 2023 ² | 25.9 |  |  | 24.1 |  |  | 1.8 |  |  | – |
Proved undeveloped NGL reserves: |  |  |  |  |  |  |
December 31, 2020 | 9.5 |  |  | 9.1 |  |  | 0.4 |  |  | – |
December 31, 2021 | 10.0 |  |  | 9.5 |  |  | 0.5 |  |  | – |
December 31, 2022 | 12.0 |  |  | 10.2 |  |  | 1.8 |  |  | – |
December 31, 2023 ³ | 11.7 |  |  | 10.2 |  |  | 1.5 |  |  | – |
1 Includes total proved reserves of 0.6 MMBBL for Total and United States attributable to the noncontrolling interest in MP GOM. 2 Includes proved developed reserves of 0.5 MMBBL for Total and United States attributable to the noncontrolling interest in MP GOM. 3 Includes proved undeveloped reserves of 0.1 MMBBL for Total and United States attributable to the noncontrolling interest in MP GOM.
(Billions of cubic feet) | Total |  | United States |  | Canada |  | Other
Proved developed and undeveloped natural gas reserves: |  |  |  |  |  |  |
December 31, 2020 | 2,461.0 |  |  | 319.5 |  |  | 2,141.5 |  |  | – |
Revisions of previous estimates | (562.1) |  |  | 18.7 |  |  | (581.0) |  |  | 0.2 |
Extensions and discoveries | 556.7 |  |  | 13.5 |  |  | 543.2 |  |  | – |
Purchases of properties | 5.4 |  |  | 1.5 |  |  | 3.9 |  |  | – |
Sales of properties | (4.4) |  |  | – |  |  | (4.4) |  |  | – |
Production | (134.2) |  |  | (32.8) |  |  | (101.4) |  |  | – |
December 31, 2021 | 2,322.3 |  |  | 320.3 |  |  | 2,001.8 |  |  | 0.2 |
Revisions of previous estimates | (309.8) |  |  | 30.7 |  |  | (340.5) |  |  | – |
Improved recovery | 2.6 |  |  | 2.6 |  |  | – |  |  | – |
Extensions and discoveries | 352.4 |  |  | 15.7 |  |  | 336.7 |  |  | – |
Purchases of properties | 2.9 |  |  | 2.9 |  |  | – |  |  | – |
Sale of properties | (3.6) |  |  | (3.6) |  |  | – |  |  | – |
Production | (146.9) |  |  | (33.7) |  |  | (113.2) |  |  | – |
December 31, 2022 | 2,219.9 |  |  | 334.9 |  |  | 1,884.8 |  |  | 0.2 |
Revisions of previous estimates | (6.9) |  |  | (19.0) |  |  | 12.1 |  |  | – |
Extensions and discoveries | 528.9 |  |  | 12.3 |  |  | 513.8 |  |  | 2.8 |
Sales of properties | (15.6) |  |  | – |  |  | (15.6) |  |  | – |
Production | (170.1) |  |  | (35.1) |  |  | (135.0) |  |  | – |
December 31, 2023 1,4 | 2,556.2 |  |  | 293.1 |  |  | 2,260.1 |  |  | 3.0 |
Proved developed natural gas reserves: |  |  |  |  |  |  |
December 31, 2020 | 1,213.8 |  |  | 260.2 |  |  | 953.6 |  |  | – |
December 31, 2021 | 1,196.0 |  |  | 248.1 |  |  | 947.7 |  |  | 0.2 |
December 31, 2022 | 1,183.1 |  |  | 254.1 |  |  | 928.8 |  |  | 0.2 |
December 31, 2023 2,4 | 1,279.3 |  |  | 212.4 |  |  | 1,066.7 |  |  | 0.2 |
Proved undeveloped natural gas reserves: |  |  |  |  |  |  |
December 31, 2020 | 1,247.2 |  |  | 59.3 |  |  | 1,187.9 |  |  | – |
December 31, 2021 | 1,126.4 |  |  | 72.2 |  |  | 1,054.1 |  |  | – |
December 31, 2022 | 1,036.8 |  |  | 80.8 |  |  | 956.0 |  |  | – |
December 31, 2023 ³ | 1,276.9 |  |  | 80.7 |  |  | 1,193.4 |  |  | 2.8 |
1 Includes total proved reserves of 5.3 BCF for Total and United States attributable to the noncontrolling interest in MP GOM. 2 Includes proved developed reserves of 3.8 BCF for Total and United States attributable to the noncontrolling interest in MP GOM. 3 Includes proved undeveloped reserves of 1.5 BCF for Total and United States attributable to the noncontrolling interest in MP GOM. 4 Includes proved natural gas reserves to be consumed in operations as fuel of 71.3 BCF, 41.9 BCF and 2.8 BCF for the U.S. Canada and Other, respectively, with 1.2 BCF attributable to the noncontrolling interest in MP GOM. 5 Totals within the tables may not add as a result of rounding.
Schedule of Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities |
(Millions of dollars) | United States |  | Canada 1 |  |  |  | Other |  | Total
Year ended December 31, 2023 |  |  |  |  |  |  |  |  |
Property acquisition costs |  |  |  |  |  |  |  |  |
Unproved | $ | – |  |  | $ | – |  |  |  |  | $ | 8.5 |  |  | $ | 8.5 |
Proved | 12.8 |  |  | – |  |  |  |  | 14.3 |  |  | 27.1 |
Total acquisition costs | 12.8 |  |  | – |  |  |  |  | 22.8 |  |  | 35.6 |
Exploration costs | 157.8 |  |  | 0.4 |  |  |  |  | 39.9 |  |  | 198.1 |
Development costs | 667.2 |  |  | 206.2 |  |  |  |  | 7.4 |  |  | 880.8 |
Total costs incurred | 837.8 |  |  | 206.6 |  |  |  |  | 70.1 |  |  | 1,114.5 |
Charged to expense |  |  |  |  |  |  |  |  |
Dry hole expense | 153.1 |  |  | – |  |  |  |  | 16.7 |  |  | 169.8 |
Geophysical and other costs | 13.4 |  |  | 0.4 |  |  |  |  | 40.3 |  |  | 54.1 |
Total charged to expense | 166.5 |  |  | 0.4 |  |  |  |  | 57.0 |  |  | 223.9 |
Property additions | $ | 671.3 |  |  | $ | 206.2 |  |  |  |  | $ | 13.1 |  |  | $ | 890.6 |
Year ended December 31, 2022 |  |  |  |  |  |  |  |  |
Property acquisition costs |  |  |  |  |  |  |  |  |
Unproved | $ | 1.8 |  |  | $ | – |  |  |  |  | $ | – |  |  | $ | 1.8 |
Proved | 128.5 |  |  | – |  |  |  |  | – |  |  | 128.5 |
Total acquisition costs | 130.3 |  |  | – |  |  |  |  | – |  |  | 130.3 |
Exploration costs | 42.2 |  |  | 0.8 |  |  |  |  | 70.3 |  |  | 113.3 |
Development costs | 704.9 |  |  | 208.5 |  |  |  |  | 4.3 |  |  | 917.7 |
Total costs incurred | 877.4 |  |  | 209.3 |  |  |  |  | 74.6 |  |  | 1,161.3 |
Charged to expense |  |  |  |  |  |  |  |  |
Dry hole expense | 23.0 |  |  | – |  |  |  |  | 59.1 |  |  | 82.1 |
Geophysical and other costs | 15.8 |  |  | 0.8 |  |  |  |  | 21.1 |  |  | 37.7 |
Total charged to expense | 38.8 |  |  | 0.8 |  |  |  |  | 80.2 |  |  | 119.8 |
Property additions | $ | 838.6 |  |  | $ | 208.5 |  |  |  |  | $ | (5.6) |  |  | $ | 1,041.5 |
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |
Property acquisition costs |  |  |  |  |  |  |  |  |
Unproved | $ | 8.8 |  |  | $ | – |  |  |  |  | $ | – |  |  | $ | 8.8 |
Proved | 19.9 |  |  | (20.4) |  |  |  |  | – |  |  | (0.5) |
Total acquisition costs | 28.7 |  |  | (20.4) |  |  |  |  | – |  |  | 8.3 |
Exploration costs | 31.7 |  |  | 0.4 |  |  |  |  | 30.1 |  |  | 62.2 |
Development costs | 513.2 |  |  | 102.4 |  |  |  |  | 3.7 |  |  | 619.3 |
Total costs incurred | 573.6 |  |  | 82.4 |  |  |  |  | 33.8 |  |  | 689.8 |
Charged to expense |  |  |  |  |  |  |  |  |
Dry hole expense | 17.3 |  |  | – |  |  |  |  | – |  |  | 17.3 |
Geophysical and other costs | 13.1 |  |  | 0.4 |  |  |  |  | 19.3 |  |  | 32.8 |
Total charged to expense | 30.4 |  |  | 0.4 |  |  |  |  | 19.3 |  |  | 50.1 |
Property additions | $ | 543.2 |  |  | $ | 82.0 |  |  |  |  | $ | 14.5 |  |  | $ | 639.7 |
1 2021 Canada proved property acquisitions represents cash received from divesting partners on acquisition of an additional 7.525% working interest at Terra Nova as part of the sanction of an asset life extension project.
Schedule of Results of Operations for Oil and Gas Producing Activities |
(Millions of dollars) | United States |  | Canada |  | Other |  | Total
Year ended December 31, 2023 |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |
Crude oil and natural gas liquids sales | $ | 2,829.1 |  |  | $ | 165.7 |  |  | $ | 11.0 |  |  | $ | 3,005.8 |
Natural gas sales | 92.7 |  |  | 278.2 |  |  | – |  |  | 370.9 |
Sales of purchased natural gas | – |  |  | 72.2 |  |  | – |  |  | 72.2 |
Total oil and natural gas revenues | 2,921.8 |  |  | 516.1 |  |  | 11.0 |  |  | 3,448.9 |
Other operating revenues | 6.5 |  |  | 1.4 |  |  | – |  |  | 7.9 |
Total revenues | 2,928.3 |  |  | 517.5 |  |  | 11.0 |  |  | 3,456.8 |
Costs and expenses |  |  |  |  |  |  |
Lease operating expenses | 630.7 |  |  | 151.8 |  |  | 1.9 |  |  | 784.4 |
Severance and ad valorem taxes | 41.4 |  |  | 1.4 |  |  | – |  |  | 42.8 |
Transportation, gathering and processing | 157.0 |  |  | 76.0 |  |  | – |  |  | 233.0 |
Costs of purchased natural gas | – |  |  | 51.7 |  |  | – |  |  | 51.7 |
Exploration costs charged to expense | 166.5 |  |  | 0.4 |  |  | 57.0 |  |  | 223.9 |
Undeveloped lease amortization | 8.1 |  |  | 0.1 |  |  | 2.7 |  |  | 10.9 |
Depreciation, depletion and amortization | 706.0 |  |  | 142.2 |  |  | 2.3 |  |  | 850.5 |
Accretion of asset retirement obligations | 37.8 |  |  | 7.8 |  |  | 0.4 |  |  | 46.0 |
Selling and general expenses | 11.8 |  |  | 16.5 |  |  | 9.4 |  |  | 37.7 |
Other expenses (benefits) | 31.2 |  |  | 16.8 |  |  | 8.9 |  |  | 56.9 |
Total costs and expenses | 1,790.5 |  |  | 464.7 |  |  | 82.6 |  |  | 2,337.8 |
Results of operations before taxes | 1,137.8 |  |  | 52.8 |  |  | (71.6) |  |  | 1,119.0 |
Income tax expense (benefit) | 232.7 |  |  | 11.2 |  |  | (6.1) |  |  | 237.8 |
Results of operations | $ | 905.1 |  |  | $ | 41.6 |  |  | $ | (65.5) |  |  | $ | 881.2 |
Year ended December 31, 2022 |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |
Crude oil and natural gas liquids sales | $ | 3,210.3 |  |  | $ | 267.5 |  |  | $ | 22.8 |  |  | $ | 3,500.6 |
Natural gas sales | 225.3 |  |  | 312.6 |  |  | – |  |  | 537.9 |
Sales of purchased natural gas | 0.2 |  |  | 181.5 |  |  | – |  |  | 181.7 |
Total oil and natural gas revenues | 3,435.8 |  |  | 761.6 |  |  | 22.8 |  |  | 4,220.2 |
Other operating revenues | 25.4 |  |  | 1.3 |  |  | – |  |  | 26.7 |
Total revenues | 3,461.2 |  |  | 762.9 |  |  | 22.8 |  |  | 4,246.9 |
Costs and expenses |  |  |  |  |  |  |
Lease operating expenses | 522.7 |  |  | 155.1 |  |  | 1.5 |  |  | 679.3 |
Severance and ad valorem taxes | 55.7 |  |  | 1.3 |  |  | – |  |  | 57.0 |
Transportation, gathering and processing | 142.2 |  |  | 70.5 |  |  | – |  |  | 212.7 |
Costs of purchased natural gas | 0.2 |  |  | 171.8 |  |  | – |  |  | 172.0 |
Exploration costs charged to expense | 38.8 |  |  | 0.8 |  |  | 80.2 |  |  | 119.8 |
Undeveloped lease amortization | 8.7 |  |  | 0.2 |  |  | 4.4 |  |  | 13.3 |
Depreciation, depletion and amortization | 617.0 |  |  | 141.5 |  |  | 5.4 |  |  | 763.9 |
Accretion of asset retirement obligations | 36.5 |  |  | 9.6 |  |  | 0.1 |  |  | 46.2 |
Selling and general expenses | 20.4 |  |  | 21.9 |  |  | 2.2 |  |  | 44.5 |
Other expenses | 126.3 |  |  | 12.4 |  |  | 3.1 |  |  | 141.8 |
Total costs and expenses | 1,568.5 |  |  | 585.1 |  |  | 96.9 |  |  | 2,250.5 |
Results of operations before taxes | 1,892.7 |  |  | 177.8 |  |  | (74.1) |  |  | 1,996.4 |
Income tax expense (benefit) | 370.8 |  |  | 43.6 |  |  | 2.9 |  |  | 417.3 |
Results of operations | $ | 1,521.9 |  |  | $ | 134.2 |  |  | $ | (77.0) |  |  | $ | 1,579.1 |
1 Results exclude corporate overhead, interest and discontinued operations. Results include noncontrolling interest in MP GOM.
(Millions of dollars) | United States |  | Canada |  | Other |  | Total
Year ended December 31, 2021 |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |
Crude oil and natural gas liquids sales | $ | 2,199.7 |  |  | $ | 228.9 |  |  | $ | 4.9 |  |  | $ | 2,433.5 |
Natural gas sales | 121.8 |  |  | 245.9 |  |  | – |  |  | 367.7 |
Total oil and natural gas revenues | 2,321.5 |  |  | 474.8 |  |  | 4.9 |  |  | 2,801.2 |
Other operating revenues | 16.0 |  |  | 1.5 |  |  | – |  |  | 17.5 |
Total revenues | 2,337.5 |  |  | 476.3 |  |  | 4.9 |  |  | 2,818.7 |
Costs and expenses |  |  |  |  |  |  |
Lease operating expenses | 406.4 |  |  | 136.3 |  |  | (3.2) |  |  | 539.5 |
Severance and ad valorem taxes | 39.6 |  |  | 1.6 |  |  | – |  |  | 41.2 |
Transportation, gathering and processing | 126.5 |  |  | 60.5 |  |  | – |  |  | 187.0 |
Exploration costs charged to expense | 30.4 |  |  | 0.4 |  |  | 19.3 |  |  | 50.1 |
Undeveloped lease amortization | 11.1 |  |  | 0.2 |  |  | 7.6 |  |  | 18.9 |
Depreciation, depletion and amortization | 616.5 |  |  | 163.8 |  |  | 1.8 |  |  | 782.1 |
Accretion of asset retirement obligations | 36.9 |  |  | 9.7 |  |  | – |  |  | 46.6 |
Impairment of assets | – |  |  | 171.3 |  |  | 18.0 |  |  | 189.3 |
Selling and general expenses | 20.5 |  |  | 16.5 |  |  | 6.6 |  |  | 43.6 |
Other expenses | 99.4 |  |  | (66.2) |  |  | (2.2) |  |  | 31.0 |
Total costs and expenses | 1,387.3 |  |  | 494.1 |  |  | 47.9 |  |  | 1,929.3 |
Results of operations before taxes | 950.2 |  |  | (17.8) |  |  | (43.0) |  |  | 889.4 |
Income tax expense (benefit) | 183.9 |  |  | (1.7) |  |  | (9.5) |  |  | 172.7 |
Results of operations | $ | 766.3 |  |  | $ | (16.1) |  |  | $ | (33.5) |  |  | $ | 716.7 |
1 Results exclude corporate overhead, interest and discontinued operations. Results include noncontrolling interest in MP GOM.
schedule of Standardized Measure of Discounted Future Net Cash Flow Relating to Proved Oil and Gas Reserves |
(Millions of dollars) | United States |  | Canada |  | Other |  | Total
December 31, 2023 |  |  |  |  |  |  |
Future cash inflows | $ | 18,927.6 |  |  | $ | 8,012.7 |  |  | $ | 1,004.2 |  |  | $ | 27,944.5 |
Future development costs | (1,685.3) |  |  | (769.6) |  |  | (304.3) |  |  | (2,759.2) |
Future production costs | (7,856.2) |  |  | (4,223.6) |  |  | (288.7) |  |  | (12,368.5) |
Future income taxes | (1,057.5) |  |  | (634.6) |  |  | (121.3) |  |  | (1,813.4) |
Future net cash flows | 8,328.6 |  |  | 2,384.9 |  |  | 289.9 |  |  | 11,003.4 |
10% annual discount for estimated timing of cash flows | (2,840.6) |  |  | (1,056.9) |  |  | (252.5) |  |  | (4,150.0) |
Standardized measure of discounted future net cash flows | $ | 5,488.0 |  |  | $ | 1,328.0 |  |  | $ | 37.4 |  |  | $ | 6,853.4 |
December 31, 2022 |  |  |  |  |  |  |
Future cash inflows | $ | 27,277.9 |  |  | $ | 12,360.2 |  |  | $ | 59.2 |  |  | $ | 39,697.3 |
Future development costs | (1,594.5) |  |  | (642.4) |  |  | (1.4) |  |  | (2,238.3) |
Future production costs | (8,297.4) |  |  | (4,199.0) |  |  | (12.1) |  |  | (12,508.5) |
Future income taxes | (2,606.8) |  |  | (1,788.7) |  |  | (5.4) |  |  | (4,400.9) |
Future net cash flows | 14,779.2 |  |  | 5,730.1 |  |  | 40.3 |  |  | 20,549.6 |
10% annual discount for estimated timing of cash flows | (5,709.8) |  |  | (3,015.6) |  |  | (11.0) |  |  | (8,736.4) |
Standardized measure of discounted future net cash flows | $ | 9,069.4 |  |  | $ | 2,714.5 |  |  | $ | 29.3 |  |  | $ | 11,813.2 |
December 31, 2021 |  |  |  |  |  |  |
Future cash inflows | $ | 18,449.1 |  |  | $ | 7,203.5 |  |  | $ | 44.0 |  |  | $ | 25,696.7 |
Future development costs | (1,164.3) |  |  | (521.1) |  |  | (1.5) |  |  | (1,686.8) |
Future production costs | (7,140.6) |  |  | (3,525.8) |  |  | (9.1) |  |  | (10,675.4) |
Future income taxes | (1,024.4) |  |  | (565.4) |  |  | (3.0) |  |  | (1,592.8) |
Future net cash flows | 9,119.9 |  |  | 2,591.3 |  |  | 30.4 |  |  | 11,741.6 |
10% annual discount for estimated timing of cash flows | (3,264.9) |  |  | (1,169.3) |  |  | (8.5) |  |  | (4,442.7) |
Standardized measure of discounted future net cash flows | $ | 5,855.1 |  |  | $ | 1,422.0 |  |  | $ | 21.9 |  |  | $ | 7,299.0 |
1 Includes noncontrolling interest in MP GOM. 2 Totals within the table may not add as a result of rounding.
Schedule of Principal Sources of Change in the Standardized Measure of Discounted Future Net Cash Flows | The following are the principal sources of change in the standardized measure of discounted future net cash flows for the years shown.
(Millions of dollars) | 2023 |  | 2022 |  | 2021
Net changes in prices and production costs 2 | $ | (5,845.6) |  |  | $ | 4,812.2 |  |  | $ | 5,962.1 |
Net changes in development costs | (78.8) |  |  | (531.1) |  |  | (503.6) |
Sales and transfers of oil and natural gas produced, net of production costs | (2,264.8) |  |  | (2,917.4) |  |  | (2,220.5) |
Net change due to extensions and discoveries | 770.4 |  |  | 1,223.5 |  |  | 908.5 |
Net change due to purchases and sales of proved reserves | (96.1) |  |  | 102.1 |  |  | 63.1 |
Development costs incurred | 703.7 |  |  | 769.3 |  |  | 619.3 |
Accretion of discount | 1,393.3 |  |  | 802.6 |  |  | 267.2 |
Revisions of previous quantity estimates | (771.5) |  |  | 1,652.9 |  |  | 277.1 |
Net change in income taxes | 1,229.6 |  |  | (1,399.9) |  |  | (692.8) |
Net increase (decrease) | (4,959.8) |  |  | 4,514.2 |  |  | 4,680.4 |
Standardized measure at January 1 | 11,813.2 |  |  | 7,299.0 |  |  | 2,618.6 |
Standardized measure at December 31 | $ | 6,853.4 |  |  | $ | 11,813.2 |  |  | $ | 7,299.0 |
1 Includes noncontrolling interest in MP GOM. 2 The average prices used for 2023 were $78.22 per barrel for NYMEX crude oil (WTI) and $2.64 per MCF for natural gas (Henry Hub). The average prices used for 2022 were $93.67 per barrel for NYMEX crude oil (WTI) and $6.36 per MCF for natural gas (Henry Hub). The average prices used for 2021 were $66.56 per barrel for NYMEX crude oil (WTI) and $3.60 per MCF for natural gas (Henry Hub).
Schedule of Capitalized Costs Relating to Oil and Gas Producing Activities |
(Millions of dollars) | United States |  | Canada |  | Other |  | Total
December 31, 2023 |  |  |  |  |  |  |
Unproved oil and natural gas properties | $ | 337.3 |  |  | $ | 13.1 |  |  | $ | 49.7 |  |  | $ | 400.1 |
Proved oil and natural gas properties | 15,868.4 |  |  | 4,716.0 |  |  | 153.7 |  |  | 20,738.1 |
Gross capitalized costs | 16,205.7 |  |  | 4,729.1 |  |  | 203.4 |  |  | 21,138.2 |
Accumulated depreciation, depletion and amortization |  |  |  |  |  |  |
Unproved oil and natural gas properties | (105.3) |  |  | – |  |  | (17.4) |  |  | (122.7) |
Proved oil and natural gas properties | (9,552.9) |  |  | (3,233.7) |  |  | (42.8) |  |  | (12,829.4) |
Net capitalized costs | $ | 6,547.5 |  |  | $ | 1,495.4 |  |  | $ | 143.2 |  |  | $ | 8,186.1 |
December 31, 2022 |  |  |  |  |  |  |
Unproved oil and natural gas properties | $ | 494.6 |  |  | $ | 19.2 |  |  | $ | 135.1 |  |  | $ | 648.9 |
Proved oil and natural gas properties | 15,051.9 |  |  | 4,684.8 |  |  | 55.9 |  |  | 19,792.6 |
Gross capitalized costs | 15,546.5 |  |  | 4,704.0 |  |  | 191.0 |  |  | 20,441.5 |
Accumulated depreciation, depletion and amortization |  |  |  |  |  |  |
Unproved oil and natural gas properties | (117.8) |  |  | – |  |  | (14.7) |  |  | (132.5) |
Proved oil and natural gas properties | (8,873.6) |  |  | (3,208.0) |  |  | (41.3) |  |  | (12,122.9) |
Net capitalized costs | $ | 6,555.1 |  |  | $ | 1,496.0 |  |  | $ | 135.0 |  |  | $ | 8,186.1 |

X
- Definition Tabular disclosure of the aggregate change in the standardized measure of discounted future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchases under long-term agreements in which the enterprise participates in the operation of the properties on which oil and gas is located or otherwise serves as the producer. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Form 20-F -Section Item 18 -Subsection Instruction 2 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 36 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-36 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 35 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-35 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 34 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-34 + Details
Name: | srt_ScheduleOfChangesInStandardizedMeasureOfDiscountedFutureNetCashFlowsTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Form 20-F -Section Item 18 -Subsection Instruction 2 -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-5 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 4 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-6 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-7 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 8 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-8 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 9 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-9 + Details
Name: | srt_ScheduleOfProvedDevelopedAndUndevelopedOilAndGasReserveQuantitiesTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Form 20-F -Section Item 18 -Subsection Instruction 2 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 55 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482245/932-235-55-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 31 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-31 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 33 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-33 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 30 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-30 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 32 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-32 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 36 -SubTopic 235 -Topic 932 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-36 + Details
Name: | srt_StandardizedMeasureOfDiscountedFutureCashFlowsRelatingToProvedReservesDisclosureTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-13 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482245/932-235-55-3 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-14 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-15 + Details
Name: | us-gaap_CapitalizedCostsRelatingToOilAndGasProducingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 55 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482245/932-235-55-4 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-18 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-20 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 19 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-19 + Details
Name: | us-gaap_CostIncurredInOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OilAndGasExplorationAndProductionIndustriesDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the results of operations for oil and gas producing activities for the year. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 55 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482245/932-235-55-5 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 23 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482274/932-235-50-23 + Details
Name: | us-gaap_ResultsOfOperationsForOilAndGasProducingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration