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STATEMENT OF CONSOLIDATED CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income including noncontrolling interests $ 836,000,000 $ 1,336,000,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on divestitures, net (284,000,000) (7,000,000)
Exploratory dry hole expense and unproved leasehold impairments 63,000,000 86,000,000
Depreciation, depletion, and amortization 1,185,000,000 1,024,000,000
Asset retirement obligation accretion 107,000,000 86,000,000
Impairments 1,111,000,000 46,000,000
Benefit from deferred income taxes (511,000,000) (29,000,000)
Gain on extinguishment of debt 0 (9,000,000)
Loss on previously sold Gulf of Mexico properties 83,000,000 0
Other, net (164,000,000) (119,000,000)
Changes in operating assets and liabilities:    
Receivables 122,000,000 (278,000,000)
Inventories (35,000,000) 19,000,000
Drilling advances and other current assets 11,000,000 78,000,000
Deferred charges and other long-term assets (225,000,000) 226,000,000
Accounts payable 20,000,000 (5,000,000)
Accounts receivable from/payable to APA Corporation (24,000,000) (46,000,000)
Accrued expenses (197,000,000) 0
Deferred credits and noncurrent liabilities 84,000,000 (436,000,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES 2,182,000,000 1,972,000,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to upstream oil and gas property (1,447,000,000) (1,480,000,000)
Leasehold and property acquisitions (1,000,000) (10,000,000)
Notes receivable from APA Corporation (1,169,000,000) (207,000,000)
Proceeds from asset divestitures 719,000,000 29,000,000
Proceeds from sale of Kinetik Shares 428,000,000 0
Other, net 58,000,000 (29,000,000)
NET CASH USED IN INVESTING ACTIVITIES (1,412,000,000) (1,697,000,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on fixed-rate debt 0 (65,000,000)
Distributions to noncontrolling interest – Sinopec (233,000,000) (154,000,000)
Distributions to APA Corporation (558,000,000) (154,000,000)
Other, net (2,000,000) 5,000,000
NET CASH USED IN FINANCING ACTIVITIES (793,000,000) (368,000,000)
NET DECREASE IN CASH AND CASH EQUIVALENTS (23,000,000) (93,000,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 84,000,000 185,000,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD 61,000,000 92,000,000
SUPPLEMENTARY CASH FLOW DATA:    
Interest paid, net of capitalized interest 240,000,000 250,000,000
Income taxes paid, net of refunds $ 874,000,000 $ 867,000,000