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Derivative Instruments and Hedging Activity (Tables) | 3 Months Ended
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Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of the fair values included in balance sheets | The tables below present XPLR's gross derivative positions, based on the total fair value of each derivative instrument, at March 31, 2026 and December 31, 2025 as well as the location of the net derivative positions, based on the expected timing of future payments, on XPLR's condensed consolidated balance sheets.
|  | March 31, 2026
|  | Level 1 |  | Level 2 |  | Level 3 |  | Netting(a) |  | Total
|  | (millions)
Assets: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | 54 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 55 |
Commodity contracts |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | (4) |  |  | — |
Total derivative assets |  |  |  |  |  |  |  |  |  | $ | 55 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 7 |
Commodity contracts |  | $ | — |  |  | $ | — |  |  | $ | 10 |  |  | $ | (4) |  |  | 6 |
Total derivative liabilities |  |  |  |  |  |  |  |  |  | $ | 13 |
Net fair value by balance sheet line item: |  |  |  |  |  |  |  |  |  |
Current other assets |  |  |  |  |  |  |  |  |  | $ | 11 |
Noncurrent other assets |  |  |  |  |  |  |  |  |  | 44 |
Total derivative assets |  |  |  |  |  |  |  |  |  | $ | 55 |
Current other liabilities |  |  |  |  |  |  |  |  |  | $ | 8 |
Noncurrent other liabilities |  |  |  |  |  |  |  |  |  | 5 |
Total derivative liabilities |  |  |  |  |  |  |  |  |  | $ | 13 |
____________________ (a) Includes the effect of the contractual ability to settle contracts under master netting arrangements.
|  | December 31, 2025
|  | Level 1 |  | Level 2 |  | Level 3 |  | Netting(a) |  | Total
|  | (millions)
Assets: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | 62 |  |  | $ | — |  |  | $ | — |  |  | $ | 62 |
Commodity contracts |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | 3 |
Total derivative assets |  |  |  |  |  |  |  |  |  | $ | 65 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |  |  | $ | 10 |
Commodity contracts |  | $ | — |  |  | $ | — |  |  | $ | 10 |  |  | $ | — |  |  | 10 |
Total derivative liabilities |  |  |  |  |  |  |  |  |  | $ | 20 |
Net fair value by balance sheet line item: |  |  |  |  |  |  |  |  |  |
Current other assets |  |  |  |  |  |  |  |  |  | $ | 22 |
Noncurrent other assets |  |  |  |  |  |  |  |  |  | 43 |
Total derivative assets |  |  |  |  |  |  |  |  |  | $ | 65 |
Current other liabilities |  |  |  |  |  |  |  |  |  | $ | 17 |
Noncurrent other liabilities |  |  |  |  |  |  |  |  |  | 3 |
Total derivative liabilities |  |  |  |  |  |  |  |  |  | $ | 20 |
____________________ (a) Includes the effect of the contractual ability to settle contracts under master netting arrangements.
Schedule of gains (losses) related to interest rate and commodity contracts | Gains (losses) related to XPLR's derivatives are recorded in XPLR's condensed consolidated financial statements as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2026 |  | 2025
|  |  |  |  | (millions)
Interest rate contracts – interest expense |  |  |  |  | $ | 9 |  |  | $ | (80) |
Interest rate contracts – income from discontinued operations |  |  |  |  | $ | — |  |  | $ | (10) |
Commodity contracts – operating revenues |  |  |  |  | $ | 1 |  |  | $ | (1) |

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