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STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Oil and gas production revenues        
Oil and Gas Production Revenues $ 1,346 $ 1,386 $ 2,858 $ 2,473
Other 59 (21) 84 (24)
Gain (loss) on divestitures (21) 17 320 16
Total revenues and other 1,384 1,382 3,262 2,465
OPERATING EXPENSES:        
Lease operating expenses 372 359 708 737
Gathering and transportation 48 52 105 104
Taxes other than income 29 65 71 76
Exploration 108 91 200 186
General and administrative 106 103 209 196
Transaction, reorganization, and separation 4 9 (6) 24
Depreciation, depletion, and amortization:        
Depreciation, depletion and amortization 572 669 1,148 1,347
Asset retirement obligation accretion 37 38 73 76
Impairments 0 173 8 173
Financing costs, net 99 104 199 209
Total operating expenses 1,375 1,663 2,715 3,128
NET INCOME (LOSS) BEFORE INCOME TAXES 9 (281) 547 (663)
Current income tax provision 126 144 314 134
Deferred income tax benefit (730) (225) (647) (226)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTEREST 613 (200) 880 (571)
Net income attributable to noncontrolling interest 41 44 95 45
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK $ 572 $ (244) $ 785 $ (616)
NET INCOME (LOSS) PER COMMON SHARE:        
Basic (in USD per share) $ 1.50 $ (0.65) $ 2.06 $ (1.63)
Diluted (in USD per share) $ 1.50 $ (0.65) $ 2.05 $ (1.63)
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 381 379 380 379
Diluted (in shares) 383 379 383 379
DIVIDENDS DECLARED PER COMMON SHARE (in USD per share) $ 0.25 $ 0.25 $ 0.50 $ 0.5
Oil and gas property and equipment [Member]        
Depreciation, depletion, and amortization:        
Depreciation, depletion and amortization $ 536 $ 629 $ 1,074 $ 1,265
Other assets [Member]        
Depreciation, depletion, and amortization:        
Depreciation, depletion and amortization 36 40 74 82
Oil revenues [Member]        
Oil and gas production revenues        
Oil and Gas Production Revenues 1,050 1,118 2,222 1,940
Gas revenues [Member]        
Oil and gas production revenues        
Oil and Gas Production Revenues 233 209 488 432
Natural gas liquids revenues [Member]        
Oil and gas production revenues        
Oil and Gas Production Revenues $ 63 $ 59 $ 148 $ 101