XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Oil and natural gas sales $ 245,000,000 $ 578,000,000 $ 675,000,000 $ 1,179,000,000
Net derivative (loss) gain from commodity contracts (4,000,000) 21,000,000 75,000,000 (68,000,000)
Other revenue 35,000,000 54,000,000 99,000,000 232,000,000
Total revenues 276,000,000 653,000,000 849,000,000 1,343,000,000
COSTS        
Production costs 127,000,000 230,000,000 319,000,000 463,000,000
General and administrative expenses 69,000,000 79,000,000 129,000,000 162,000,000
Depreciation, depletion and amortization 88,000,000 121,000,000 207,000,000 239,000,000
Asset impairments 0 0 1,736,000,000 0
Taxes other than on income 38,000,000 36,000,000 79,000,000 77,000,000
Exploration expense 2,000,000 10,000,000 7,000,000 20,000,000
Other expenses, net 67,000,000 55,000,000 136,000,000 203,000,000
Total costs 391,000,000 531,000,000 2,613,000,000 1,164,000,000
OPERATING (LOSS) INCOME (115,000,000) 122,000,000 (1,764,000,000) 179,000,000
NON-OPERATING (LOSS) INCOME        
Interest and debt expense, net (85,000,000) (98,000,000) (172,000,000) (198,000,000)
Net gain on early extinguishment of debt 0 20,000,000 5,000,000 26,000,000
Other non-operating expenses (47,000,000) (3,000,000) (61,000,000) (10,000,000)
(LOSS) INCOME BEFORE INCOME TAXES (247,000,000) 41,000,000 (1,992,000,000) (3,000,000)
Income tax 0 0 0 0
NET (LOSS) INCOME (247,000,000) 41,000,000 (1,992,000,000) (3,000,000)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Mezzanine equity (30,000,000) (29,000,000) (60,000,000) (57,000,000)
Equity 6,000,000 0 (15,000,000) 5,000,000
Net income attributable to noncontrolling interests (24,000,000) (29,000,000) (75,000,000) (52,000,000)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCK $ (271,000,000) $ 12,000,000 $ (2,067,000,000) $ (55,000,000)
Net (loss) income attributable to common stock per share        
Basic (in dollars per share) $ (5.47) $ 0.25 $ (41.84) $ (1.13)
Diluted (in dollars per share) $ (5.47) $ 0.24 $ (41.84) $ (1.13)