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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Operating revenues        
Oil $ 245 $ 474 $ 781 $ 1,341
Natural gas 58 67 152 220
NGLs 16 31 44 88
Financial derivatives 434 381 458 (44)
Total operating revenues 753 953 1,435 1,605
Operating expenses        
Natural gas purchases 9 8 24 16
Transportation costs 30 22 82 71
Lease operating expense 45 48 139 142
General and administrative 32 33 114 208
Depreciation, depletion and amortization 260 228 737 634
Impairment charges 0 1 0 1
Exploration and other expense 2 5 14 18
Taxes, other than income taxes 20 35 65 102
Total operating expenses 398 380 1,175 1,192
Operating income 355 573 260 413
Loss on extinguishment of debt 0 0 (41) (17)
Interest expense (84) (76) (249) (235)
Income (loss) from continuing operations before income taxes 271 497 (30) 161
Income tax expense (benefit) 95 191 (13) 67
Income (loss) from continuing operations 176 306 (17) 94
(Loss) income from discontinued operations, net of tax 0 (1) 0 3
Net income (loss) $ 176 $ 305 $ (17) $ 97
Basic and diluted net income (loss) per common share        
Income (loss) from continuing operations (in dollars per share) $ 0.72 $ 1.25 $ (0.07) $ 0.39
Income from discontinued operations, net of tax (in dollars per share) 0.00 0.00 0.00 0.01
Net income (loss) (in dollars per share) $ 0.72 $ 1.25 $ (0.07) $ 0.40
Basic and diluted weighted average common shares outstanding (in shares) 244 244 244 241