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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUES        
Oil, natural gas and natural gas liquids sales $ 715 $ 870 $ 2,231 $ 1,711
Net (loss) gain from commodity derivatives (23) 356 140 290
Total operating revenues 855 1,353 2,745 2,321
OPERATING EXPENSES        
Operating costs 316 311 927 643
General and administrative expenses 87 106 238 226
Depreciation, depletion and amortization 123 140 382 246
Asset impairment 2 0 2 13
Taxes other than on income 70 85 187 162
Accretion expense 28 31 85 56
Net loss on natural gas purchase derivatives 27 9 24 11
Measurement period adjustments, net 0 0 1 0
Other operating expenses, net 29 78 127 188
Total operating expenses 756 835 2,193 1,776
(Loss) gain on asset divestitures (1) 0 (1) 7
OPERATING INCOME 98 518 551 552
NON-OPERATING (EXPENSES) INCOME        
Interest and debt expense, net (25) (29) (77) (59)
Loss on early extinguishment of debt 0 (5) (1) (5)
Loss from investment in unconsolidated subsidiaries (2) (2) (3) (9)
Other non-operating income (expense), net 4 1 9 (4)
INCOME BEFORE INCOME TAXES 75 483 479 475
Income tax provision (11) (138) (128) (132)
NET INCOME $ 64 $ 345 $ 351 $ 343
Net income per share        
Basic (in dollars per share) $ 0.76 $ 3.86 $ 4.00 $ 4.54
Diluted (in dollars per share) $ 0.76 $ 3.78 $ 3.97 $ 4.42
Weighted-average common shares outstanding        
Basic (in shares) 83.7 89.4 87.8 75.5
Diluted (in shares) 84.4 91.2 88.4 77.6
Revenue from marketing of purchased commodities        
REVENUES        
Other revenue $ 58 $ 51 $ 178 $ 176
OPERATING EXPENSES        
Costs of sales 44 43 135 140
Electricity revenue        
REVENUES        
Other revenue 101 69 181 120
Other revenue        
REVENUES        
Other revenue 4 7 15 24
Electricity generation expenses        
OPERATING EXPENSES        
Costs of sales 11 9 26 31
Transportation costs        
OPERATING EXPENSES        
Costs of sales $ 19 $ 23 $ 59 $ 60