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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash $ 328 $ 305
Trade receivables 301 245
Inventories 56 60
Assets held for sale 3 22
Other current assets 146 121
Total current assets 834 753
PROPERTY, PLANT AND EQUIPMENT 2,936 2,845
Accumulated depreciation, depletion and amortization (293) (246)
Total property, plant and equipment, net 2,643 2,599
DEFERRED TAX ASSET 429 396
OTHER NONCURRENT ASSETS 126 98
TOTAL ASSETS 4,032 3,846
CURRENT LIABILITIES    
Accounts payable 287 266
Liabilities associated with assets held for sale 2 21
Fair value of derivative contracts 554 270
Accrued liabilities 362 297
Total current liabilities 1,205 854
NONCURRENT LIABILITIES    
Long-term debt, net 590 589
Fair value of derivative contracts 200 132
Asset retirement obligations 426 438
Other long-term liabilities 178 145
STOCKHOLDERS' EQUITY    
Preferred stock (20,000,000 shares authorized at $0.01 par value) no shares outstanding at March 31, 2022 and December 31, 2021 0 0
Common stock (200,000,000 shares authorized at $0.01 par value) (83,389,254 and 83,389,210 shares issued; 77,630,810 and 79,299,222 shares outstanding at March 31, 2022 and December 31, 2021) 1 1
Treasury stock (5,758,444 shares held at cost at March 31, 2022 and 4,089,988 shares held at cost at December 31, 2021) (219) (148)
Additional paid-in capital 1,293 1,288
Retained earnings 286 475
Accumulated other comprehensive income 72 72
Total stockholders' equity 1,433 1,688
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,032 $ 3,846