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Statement of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows From Operating Activities      
Net income (loss) $ 2,447 $ 890 $ (2,839)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
(Gains) on asset sales, net (101) (29) (87)
Depreciation, depletion and amortization 1,703 1,528 2,074
Impairment and other 54 147 2,126
Exploratory dry hole costs 56 11 192
Exploration lease impairment 20 20 51
Pension settlement loss 2 9 0
Stock compensation expense 83 77 79
Noncash (gains) losses on commodity derivatives, net 548 216 260
Provision (benefit) for deferred income taxes and other tax accruals 309 122 (53)
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (301) (748) 267
(Increase) decrease in inventories 2 135 (117)
Increase (decrease) in accounts payable and accrued liabilities 50 241 (533)
Increase (decrease) in taxes payable (465) 447 (16)
Changes in other operating assets and liabilities (463) (176) (71)
Net cash provided by (used in) operating activities 3,944 2,890 1,333
Cash Flows From Investing Activities      
Additions to property, plant and equipment – E&P (2,487) (1,584) (1,896)
Additions to property, plant and equipment – Midstream (238) (163) (301)
Proceeds from asset sales, net of cash sold 178 427 493
Other, net (8) (5) (3)
Net cash provided by (used in) investing activities (2,555) (1,325) (1,707)
Cash Flows From Financing Activities      
Net borrowings (repayments) of debt with maturities of 90 days or less (86) (80) 152
Debt with maturities of greater than 90 days – Borrowings 420 750 1,000
Debt with maturities of greater than 90 days – Repayments (510) (510) 0
Cash dividends paid (465) (311) (309)
Common stock acquired and retired (630) 0 0
Proceeds from sale of Class A shares of Hess Midstream LP 146 178 0
Noncontrolling interests, net (510) (664) (261)
Employee stock options exercised 52 77 15
Payments on finance lease obligations (9) (10) (7)
Other, net (24) (21) (22)
Net cash provided by (used in) financing activities (1,616) (591) 568
Net Increase (Decrease) in Cash and Cash Equivalents (227) 974 194
Cash and Cash Equivalents at Beginning of Year 2,713 1,739 1,545
Cash and Cash Equivalents at End of Year $ 2,486 $ 2,713 $ 1,739