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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss $ (175) $ (89)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion and amortization 49 52
Deferred income tax benefit (33) 0
Asset impairments 0 3
Net loss from commodity derivatives 562 213
Net payments on settled commodity derivatives (181) (39)
Net loss on early extinguishment of debt 0 2
Net gain on asset divestitures (54) (2)
Other non-cash charges to income, net 8 7
Changes in operating assets and liabilities, net (16) 0
Net cash provided by operating activities 160 147
CASH FLOW FROM INVESTING ACTIVITIES    
Capital investments (99) (27)
Changes in accrued capital investments 3 5
Proceeds from asset divestitures 60 2
Acquisitions (17) 0
Net cash used in investing activities (53) (20)
CASH FLOW FROM FINANCING ACTIVITIES    
Proceeds from Senior Notes 0 600
Debt issuance costs 0 (12)
Repurchases of common stock (71) 0
Common stock dividends (13) 0
Distributions paid to a noncontrolling interest holder 0 (14)
Net cash used in financing activities (84) (25)
Increase in cash 23 102
Cash—beginning of period 305 28
Cash—end of period 328 130
Revolving Credit Facility    
CASH FLOW FROM FINANCING ACTIVITIES    
Proceeds from Revolving Credit Facility 0 16
Repayments of Revolving Credit Facility 0 (115)
Second Lien Notes    
CASH FLOW FROM FINANCING ACTIVITIES    
Repayments of senior debt 0 (200)
EHP Notes    
CASH FLOW FROM FINANCING ACTIVITIES    
Repayments of senior debt $ 0 $ (300)