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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows From Operating Activities    
Net income $ 522 $ 1,067
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, depletion and amortization 619 557
Exploratory dry hole costs 21 0
Exploration lease impairment 7 3
Stock compensation expense 43 39
Provision for deferred income taxes and other tax accruals 103 63
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 321 (359)
(Increase) decrease in inventories (53) (78)
Increase (decrease) in accounts payable and accrued liabilities (59) (294)
Increase (decrease) in taxes payable 7 10
Changes in other operating assets and liabilities (130) (123)
Net cash provided by (used in) operating activities 1,401 885
Cash Flows From Investing Activities    
Additions to property, plant and equipment - E&P (966) (902)
Additions to property, plant and equipment - Midstream (46) (55)
Proceeds from asset sales, net of cash sold 2 0
Other, net 0 1
Net cash provided by (used in) investing activities (1,010) (958)
Cash Flows From Financing Activities    
Net borrowings (repayments) of debt with maturities of 90 days or less 113 115
Debt with maturities of greater than 90 days – Borrowings 800 0
Debt with maturities of greater than 90 days - Repayments (805) (3)
Cash dividends paid (157) (137)
Noncontrolling interests, net (156) (151)
Employee stock options exercised 6 11
Withholding tax on stock-based incentive awards (24) (8)
Payments on finance lease obligations (3) (3)
Other, net (12) (1)
Net cash provided by (used in) financing activities (238) (177)
Net Increase (Decrease) in Cash and Cash Equivalents 153 (250)
Cash and Cash Equivalents at Beginning of Year 1,171 1,688
Cash and Cash Equivalents at End of Period $ 1,324 $ 1,438