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Supplemental Oil and Gas Information (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2024
Oil and Gas Disclosure [Abstract] |
Schedule 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, 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 |  |  | — |  |  | — |
Sale 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 |
Sale of properties | (5.2) |  |  | — |  |  | (5.2) |  |  | — |
Production | (70.4) |  |  | (45.3) |  |  | (25.0) |  |  | (0.1) |
December 31, 2023 | 739.5 |  |  | 311.1 |  |  | 415.5 |  |  | 12.9 |
Revisions of previous estimates | 14.3 |  |  | 8.1 |  |  | 6.3 |  |  | (0.1) |
Improved recovery | 11.3 |  |  | 11.3 |  |  | — |  |  | — |
Extensions and discoveries | 31.4 |  |  | 16.0 |  |  | 15.4 |  |  | — |
Production | (67.5) |  |  | (39.1) |  |  | (28.3) |  |  | (0.1) |
December 31, 2024 ¹ | 729.0 |  |  | 307.4 |  |  | 408.9 |  |  | 12.7 |
Proved developed reserves: |  |  |  |  |  |  |
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 | 425.5 |  |  | 223.2 |  |  | 202.0 |  |  | 0.3 |
December 31, 2024 ² | 436.2 |  |  | 218.9 |  |  | 217.1 |  |  | 0.2 |
Proved undeveloped reserves: |  |  |  |  |  |  |
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 | 314.0 |  |  | 87.9 |  |  | 213.5 |  |  | 12.6 |
December 31, 2024 ³ | 292.8 |  |  | 88.5 |  |  | 191.8 |  |  | 12.5 |
1 Total and United States includes proved reserves of 15.9 MMBOE, consisting of 14.5 MMBBL of oil, 0.6 MMBBL of NGLs and 5 BCF of natural gas attributable to the noncontrolling interest in MP GOM. 2 Total and United States includes proved developed reserves of 14.4 MMBOE, consisting of 13.2 MMBBL of oil, 0.5 MMBBL of NGLs and 4.2 BCF of natural gas attributable to the noncontrolling interest in MP GOM. 3 Total and United States includes proved undeveloped reserves of 1.5 MMBOE, consisting of 1.3 MMBBL of oil, 0.1 MMBBL of NGLs and 0.8 BCF of 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, 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 |  |  | — |  |  | — |
Sale 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 |
Sale of properties | (2.0) |  |  | — |  |  | (2.0) |  |  | — |
Production | (37.9) |  |  | (35.6) |  |  | (2.2) |  |  | (0.1) |
December 31, 2023 | 275.8 |  |  | 228.0 |  |  | 35.4 |  |  | 12.4 |
Revisions of previous estimates | 6.6 |  |  | 6.6 |  |  | 0.1 |  |  | (0.1) |
Improved recovery | 10.7 |  |  | 10.7 |  |  | — |  |  | — |
Extensions and discoveries | 16.6 |  |  | 10.7 |  |  | 5.9 |  |  | — |
Production | (34.6) |  |  | (30.8) |  |  | (3.7) |  |  | (0.1) |
December 31, 2024 ¹ | 275.1 |  |  | 225.2 |  |  | 37.7 |  |  | 12.2 |
Proved developed crude oil reserves: |  |  |  |  |  |  |
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 | 186.3 |  |  | 163.7 |  |  | 22.3 |  |  | 0.3 |
December 31, 2024 ² | 184.7 |  |  | 164.1 |  |  | 20.4 |  |  | 0.2 |
Proved undeveloped crude oil reserves: |  |  |  |  |  |  |
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 | 89.5 |  |  | 64.3 |  |  | 13.1 |  |  | 12.1 |
December 31, 2024 ³ | 90.4 |  |  | 61.1 |  |  | 17.3 |  |  | 12.0 |
1 Total and United States includes proved reserves of 14.5 MMBBL attributable to the noncontrolling interest in MP GOM. 2 Total and United States includes proved developed reserves of 13.2 MMBBL attributable to the noncontrolling interest in MP GOM. 3 Total and United States includes proved undeveloped reserves of 1.3 MMBBL 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, 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 |  |  | — |
Purchase of properties | 0.3 |  |  | 0.3 |  |  | — |  |  | — |
Sale 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 |  |  | — |
Sale of properties | (0.6) |  |  | — |  |  | (0.6) |  |  | — |
Production | (4.1) |  |  | (3.8) |  |  | (0.3) |  |  | — |
December 31, 2023 | 37.6 |  |  | 34.3 |  |  | 3.3 |  |  | — |
Revisions of previous estimates | 1.2 |  |  | 0.3 |  |  | 0.9 |  |  | — |
Improved recovery | 0.4 |  |  | 0.4 |  |  | — |  |  | — |
Extensions and discoveries | 2.9 |  |  | 2.4 |  |  | 0.5 |  |  | — |
Production | (3.5) |  |  | (3.3) |  |  | (0.2) |  |  | — |
December 31, 2024 ¹ | 38.6 |  |  | 34.1 |  |  | 4.5 |  |  | — |
Proved developed NGL reserves: |  |  |  |  |  |  |
December 31, 2021 | 28.4 |  |  | 25.6 |  |  | 2.8 |  |  | — |
December 31, 2022 | 29.7 |  |  | 27.4 |  |  | 2.3 |  |  | — |
December 31, 2023 | 25.9 |  |  | 24.1 |  |  | 1.8 |  |  | — |
December 31, 2024 ² | 24.1 |  |  | 21.9 |  |  | 2.2 |  |  | — |
Proved undeveloped NGL reserves: |  |  |  |  |  |  |
December 31, 2021 | 10.0 |  |  | 9.5 |  |  | 0.5 |  |  | — |
December 31, 2022 | 12.0 |  |  | 10.2 |  |  | 1.8 |  |  | — |
December 31, 2023 | 11.7 |  |  | 10.2 |  |  | 1.5 |  |  | — |
December 31, 2024 ³ | 14.5 |  |  | 12.2 |  |  | 2.3 |  |  | — |
1 Total and United States includes total proved reserves of 0.6 MMBBL attributable to the noncontrolling interest in MP GOM. 2 Total and United States includes proved developed reserves of 0.5 MMBBL attributable to the noncontrolling interest in MP GOM. 3 Total and United States includes proved undeveloped reserves of 0.1 MMBBL 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, 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 |
Sale of properties | (15.6) |  |  | — |  |  | (15.6) |  |  | — |
Production | (170.1) |  |  | (35.1) |  |  | (135.0) |  |  | — |
December 31, 2023 | 2,556.2 |  |  | 293.1 |  |  | 2,260.1 |  |  | 3.0 |
Revisions of previous estimates | 39.1 |  |  | 7.7 |  |  | 31.4 |  |  | — |
Improved recovery | 1.2 |  |  | 1.2 |  |  | — |  |  | — |
Extensions and discoveries | 71.4 |  |  | 17.0 |  |  | 54.4 |  |  | — |
Production | (176.1) |  |  | (30.1) |  |  | (146.0) |  |  | — |
December 31, 2024 1,4 | 2,491.8 |  |  | 288.9 |  |  | 2,199.9 |  |  | 3.0 |
Proved developed natural gas reserves: |  |  |  |  |  |  |
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 | 1,279.3 |  |  | 212.4 |  |  | 1,066.7 |  |  | 0.2 |
December 31, 2024 2,4 | 1,364.2 |  |  | 196.8 |  |  | 1,167.2 |  |  | 0.2 |
Proved undeveloped natural gas reserves: |  |  |  |  |  |  |
December 31, 2021 | 1,126.4 |  |  | 72.2 |  |  | 1,054.1 |  |  | — |
December 31, 2022 | 1,036.8 |  |  | 80.8 |  |  | 956.0 |  |  | — |
December 31, 2023 | 1,276.9 |  |  | 80.7 |  |  | 1,193.4 |  |  | 2.8 |
December 31, 2024 ³ | 1,127.6 |  |  | 92.1 |  |  | 1,032.7 |  |  | 2.8 |
1 Total and United States includes total proved reserves of 5.0 BCF attributable to the noncontrolling interest in MP GOM. 2 Total and United States includes proved developed reserves of 4.2 BCF attributable to the noncontrolling interest in MP GOM. 3 Total and United States includes proved undeveloped reserves of 0.8 BCF attributable to the noncontrolling interest in MP GOM. 4 Includes proved natural gas reserves to be consumed in operations as fuel of 67.9 BCF, 36.0 BCF and 2.8 BCF for the U.S., Canada and Other, respectively, with 1.1 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 |  |  |  | Other |  | Total
Year ended December 31, 2024 |  |  |  |  |  |  |  |  |
Property acquisition costs |  |  |  |  |  |  |  |  |
Unproved | $ | 7.8 |  |  | $ | 0.2 |  |  |  |  | $ | — |  |  | $ | 8.0 |
Proved | — |  |  | — |  |  |  |  | — |  |  | — |
Total acquisition costs | 7.8 |  |  | 0.2 |  |  |  |  | — |  |  | 8.0 |
Exploration costs | 85.3 |  |  | 0.4 |  |  |  |  | 60.2 |  |  | 145.9 |
Development costs | 598.7 |  |  | 137.7 |  |  |  |  | 45.1 |  |  | 781.5 |
Total costs incurred | 691.8 |  |  | 138.3 |  |  |  |  | 105.3 |  |  | 935.4 |
Charged to expense |  |  |  |  |  |  |  |  |
Dry hole expense | 70.9 |  |  | — |  |  |  |  | 2.3 |  |  | 73.2 |
Geophysical and other costs | 19.2 |  |  | 0.4 |  |  |  |  | 31.2 |  |  | 50.8 |
Total charged to expense | 90.1 |  |  | 0.4 |  |  |  |  | 33.5 |  |  | 124.0 |
Property additions | $ | 601.7 |  |  | $ | 137.9 |  |  |  |  | $ | 71.8 |  |  | $ | 811.4 |
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 |
Schedule of Results of Operations for Oil and Gas Producing Activities |
(Millions of dollars) | United States |  | Canada |  | Other |  | Total
Year ended December 31, 2024 |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |
Crude oil and natural gas liquids sales | $ | 2,436.0 |  |  | $ | 272.3 |  |  | $ | 6.6 |  |  | $ | 2,714.9 |
Natural gas sales | 67.8 |  |  | 232.2 |  |  | — |  |  | 300.0 |
Sales of purchased natural gas | — |  |  | 3.7 |  |  | — |  |  | 3.7 |
Total oil and natural gas revenues | 2,503.8 |  |  | 508.2 |  |  | 6.6 |  |  | 3,018.6 |
Other operating revenues | 4.5 |  |  | 1.5 |  |  |  |  | 6.0 |
Total revenues | 2,508.3 |  |  | 509.7 |  |  | 6.6 |  |  | 3,024.5 |
Costs and expenses |  |  |  |  |  |  |
Lease operating expenses | 749.9 |  |  | 185.5 |  |  | 1.6 |  |  | 937.0 |
Severance and ad valorem taxes | 37.8 |  |  | 1.4 |  |  | — |  |  | 39.2 |
Transportation, gathering and processing | 130.9 |  |  | 79.9 |  |  | — |  |  | 210.8 |
Costs of purchased natural gas | — |  |  | 3.1 |  |  | — |  |  | 3.1 |
Exploration costs charged to expense | 90.0 |  |  | 0.4 |  |  | 33.5 |  |  | 123.9 |
Undeveloped lease amortization | 6.2 |  |  | 0.1 |  |  | 3.3 |  |  | 9.6 |
Depreciation, depletion and amortization | 709.2 |  |  | 146.0 |  |  | 1.7 |  |  | 856.9 |
Accretion of asset retirement obligations | 43.1 |  |  | 8.6 |  |  | 0.7 |  |  | 52.4 |
Impairment of assets | 62.9 |  |  | — |  |  | — |  |  | 62.9 |
Selling and general expenses | (3.3) |  |  | 20.4 |  |  | 6.7 |  |  | 23.8 |
Other expenses (benefits) | (5.6) |  |  | 3.3 |  |  | 2.6 |  |  | 0.3 |
Total costs and expenses | 1,821.1 |  |  | 448.7 |  |  | 50.1 |  |  | 2,319.9 |
Results of operations before taxes | 687.2 |  |  | 61.0 |  |  | (43.5) |  |  | 704.6 |
Income tax expense (benefit) | 125.3 |  |  | 12.0 |  |  | (31.0) |  |  | 106.3 |
Results of operations | $ | 561.9 |  |  | $ | 49.0 |  |  | $ | (12.5) |  |  | $ | 598.4 |
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 | 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 |
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, 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.
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, 2024 |  |  |  |  |  |  |
Future cash inflows | $ | 18,118.1 |  |  | $ | 6,304.4 |  |  | $ | 1,012.9 |  |  | $ | 25,435.4 |
Future development costs | (2,024.9) |  |  | (825.9) |  |  | (252.5) |  |  | (3,103.3) |
Future production costs | (7,645.7) |  |  | (4,026.5) |  |  | (341.7) |  |  | (12,013.9) |
Future income taxes | (893.5) |  |  | (251.2) |  |  | (203.4) |  |  | (1,348.1) |
Future net cash flows | 7,554.0 |  |  | 1,200.8 |  |  | 215.3 |  |  | 8,970.1 |
10% annual discount for estimated timing of cash flows | (2,887.3) |  |  | (486.0) |  |  | (200.9) |  |  | (3,574.2) |
Standardized measure of discounted future net cash flows | $ | 4,666.7 |  |  | $ | 714.8 |  |  | $ | 14.4 |  |  | $ | 5,395.9 |
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 |
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) | 2024 |  | 2023 |  | 2022
Net changes in prices and production costs 2 | $ | (1,116.5) |  |  | $ | (5,845.6) |  |  | $ | 4,812.2 |
Net changes in development costs | (152.7) |  |  | (78.8) |  |  | (531.1) |
Sales and transfers of oil and natural gas produced, net of production costs | (1,824.8) |  |  | (2,264.8) |  |  | (2,917.4) |
Net change due to extensions and discoveries | 583.7 |  |  | 770.4 |  |  | 1,223.5 |
Net change due to purchases and sales of proved reserves | — |  |  | (96.1) |  |  | 102.1 |
Development costs incurred | 668.6 |  |  | 703.7 |  |  | 769.3 |
Accretion of discount | 773.5 |  |  | 1,393.3 |  |  | 802.6 |
Revisions of previous quantity estimates | (688.1) |  |  | (771.5) |  |  | 1,652.9 |
Net change in income taxes | 298.8 |  |  | 1,229.6 |  |  | (1,399.9) |
Net (decrease) increase | (1,457.5) |  |  | (4,959.8) |  |  | 4,514.2 |
Standardized measure at January 1 | 6,853.4 |  |  | 11,813.2 |  |  | 7,299.0 |
Standardized measure at December 31 | $ | 5,395.9 |  |  | $ | 6,853.4 |  |  | $ | 11,813.2 |
1 Includes noncontrolling interest in MP GOM. 2 The average prices used for 2024 were $75.48 per BBL for NYMEX crude oil (WTI) and $2.13 per MCF for natural gas (Henry Hub). The average prices used for 2023 were $78.22 per BBL 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 BBL for NYMEX crude oil (WTI) and $6.36 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, 2024 |  |  |  |  |  |  |
Unproved oil and natural gas properties 1 | $ | 247.3 |  |  | $ | 6.6 |  |  | $ | 29.1 |  |  | $ | 283.0 |
Proved oil and natural gas properties | 16,598.8 |  |  | 4,498.1 |  |  | 246.7 |  |  | 21,343.6 |
Gross capitalized costs | 16,846.1 |  |  | 4,504.7 |  |  | 275.8 |  |  | 21,626.6 |
Accumulated depreciation, depletion and amortization |  |  |  |  |  |  |
Unproved oil and natural gas properties | (111.0) |  |  | — |  |  | (20.7) |  |  | (131.7) |
Proved oil and natural gas properties | (10,326.2) |  |  | (3,116.2) |  |  | (44.2) |  |  | (13,486.6) |
Net capitalized costs | $ | 6,408.9 |  |  | $ | 1,388.5 |  |  | $ | 210.9 |  |  | $ | 8,008.3 |
December 31, 2023 |  |  |  |  |  |  |
Unproved oil and natural gas properties 1 | $ | 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 |
1 Unproved oil and natural gas properties above include costs and associated accumulated amortization of properties that do not have proved reserves; these costs include mineral interests, uncompleted exploratory wells and exploratory wells capitalized pending further evaluation.

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