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Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating revenues:    
Oil sales $ 502 $ 242
Natural gas sales 110 42
Total operating revenues 612 284
Operating costs and expenses:    
Oil and natural gas production 87 92
Production and ad valorem taxes 48 23
Exploration and abandonments 15 23
Depreciation, depletion and amortization 283 310
Accretion of discount on asset retirement obligations 2 2
Impairments of long-lived assets 0 1,525
General and administrative (including non-cash stock-based compensation of $12 and $16 for the three months ended March 31, 2017 and 2016, respectively) 56 54
(Gain) loss on derivatives (286) (81)
(Gain) loss on disposition of assets, net (654) (111)
Total operating costs and expenses (449) 1,837
Income (loss) from operations 1,061 (1,553)
Other income (expense):    
Interest expense (40) (54)
Other, net 0 (7)
Total other expense (40) (61)
Income (loss) before income taxes 1,021 (1,614)
Income tax (expense) benefit (371) 594
Net income (loss) $ 650 $ (1,020)
Earnings per share:    
Basic net income (loss) $ 4.39 $ (7.95)
Diluted net income (loss) $ 4.37 $ (7.95)