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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES AND OTHER        
Oil and gas net sales $ 439 $ 404 $ 926 $ 733
Net derivative gains (losses) 43 (118) 116 (143)
Other revenue 34 31 64 49
Total revenues and other 516 317 1,106 639
COSTS AND OTHER        
Production costs 216 188 427 372
General and administrative expenses 61 61 128 128
Depreciation, depletion and amortization 138 138 278 285
Taxes other than on income 31 42 64 81
Exploration expense 6 5 12 10
Other expenses, net 25 24 47 47
Total costs and other 477 458 956 923
OPERATING INCOME (LOSS) 39 (141) 150 (284)
NON-OPERATING INCOME (LOSS)        
Interest and debt expense, net (83) (74) (167) (148)
Net gains on early extinguishment of debt   (44) (4) (133)
Gains on asset divestitures   31 21 31
Other non-operating expense (3) 0 (3) 0
(LOSS) INCOME BEFORE INCOME TAXES (47) (140) 5 (268)
Income tax benefit       78
NET (LOSS) INCOME (47) (140) 5 (190)
Net income attributable to noncontrolling interest (1)      
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCK $ (48) $ (140) $ 5 $ (190)
(Loss) Earnings per share of common stock        
Basic (in dollars per share) $ (1.13) $ (3.51) $ 0.12 $ (4.85)
Diluted (in dollars per share) $ (1.13) $ (3.51) $ 0.12 $ (4.85)