Revenue (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Summary of Revenue from Contracts with Customers on a Disaggregated Basis

Revenue from contracts with customers on a disaggregated basis was as follows (in millions):

	Exploration and Production								Midstream		Eliminations		Total
	United States		Guyana		Malaysia and JDA		E&P Total
Three Months Ended September 30, 2024
Sales of net production volumes:
Crude oil revenue	$	839	$	1,279	$	32	$	2,150	$	—	$	—	$	2,150
Natural gas liquids revenue	149		—		—		149		—		—		149
Natural gas revenue	34		—		173		207		—		—		207
Sales of purchased oil and gas	651		25		—		676		—		—		676
Third-party services	—		—		—		—		7		—		7
Intercompany revenue	—		—		—		—		371		(371)		—
Total sales (a)	1,673		1,304		205		3,182		378		(371)		3,189
Other operating revenues (b)	1		—		—		1		1		—		2
Total sales and other operating revenues	$	1,674	$	1,304	$	205	$	3,183	$	379	$	(371)	$	3,191
Three Months Ended September 30, 2023
Sales of net production volumes:
Crude oil revenue	$	861	$	896	$	36	$	1,793	$	—	$	—	$	1,793
Natural gas liquids revenue	133		—		—		133		—		—		133
Natural gas revenue	44		—		223		267		—		—		267
Sales of purchased oil and gas	640		20		—		660		—		—		660
Intercompany revenue	—		—		—		—		361		(361)		—
Total sales (a)	1,678		916		259		2,853		361		(361)		2,853
Other operating revenues (b)	(27)		(17)		(11)		(55)		2		—		(53)
Total sales and other operating revenues	$	1,651	$	899	$	248	$	2,798	$	363	$	(361)	$	2,800
Nine Months Ended September 30, 2024
Sales of net production volumes:
Crude oil revenue	$	2,448	$	4,159	$	90	$	6,697	$	—	$	—	$	6,697
Natural gas liquids revenue	442		—		—		442		—		—		442
Natural gas revenue	110		—		613		723		—		—		723
Sales of purchased oil and gas	1,732		82		—		1,814		—		—		1,814
Third-party services	—		—		—		—		18		—		18
Intercompany revenue	—		—		—		—		1,079		(1,079)		—
Total sales (a)	4,732		4,241		703		9,676		1,097		(1,079)		9,694
Other operating revenues (b)	5		—		—		5		3		—		8
Total sales and other operating revenues	$	4,737	$	4,241	$	703	$	9,681	$	1,100	$	(1,079)	$	9,702
Nine Months Ended September 30, 2023
Sales of net production volumes:
Crude oil revenue	$	2,240	$	2,508	$	89	$	4,837	$	—	$	—	$	4,837
Natural gas liquids revenue	386		—		—		386		—		—		386
Natural gas revenue	136		—		585		721		—		—		721
Sales of purchased oil and gas	1,636		52		—		1,688		—		—		1,688
Intercompany revenue	—		—		—		—		986		(986)		—
Total sales (a)	4,398		2,560		674		7,632		986		(986)		7,632
Other operating revenues (b)	(83)		(44)		(11)		(138)		6		—		(132)
Total sales and other operating revenues	$	4,315	$	2,516	$	663	$	7,494	$	992	$	(986)	$	7,500

(a)Guyana crude oil revenue includes $180 million and $646 million of revenue from non-customers for the three and nine months ended September 30, 2024, respectively, compared to $112 million and $308 million for the three and nine months ended September 30, 2023, respectively.

(b)Other operating revenues are not a component of revenues from contracts with customers. Included within other operating revenues are gains (losses) on commodity derivatives of nil for the three and nine months ended September 30, 2024, compared to losses of $(52) million and $(138) million for the three and nine months ended September 30, 2023, respectively.