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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ (143) $ (283) $ (745) $ (413)
Revenues        
Oil, Gas and NGL Sales 882 783 2,411 2,264
Income from Equity Method Investees 28 36 70 60
Total 910 819 2,481 2,324
Costs and Expenses        
Production Expense 274 247 820 715
Exploration Expense 125 203 376 308
Depreciation, Depletion and Amortization 621 539 1,859 1,444
General and Administrative 95 109 293 308
Other Operating Expense, Net 45 188 66 310
Total 1,160 1,286 3,414 3,085
Operating Loss (250) (467) (933) (761)
Other Expense (Income)        
(Gain) Loss on Commodity Derivative Instruments (55) (267) 53 (331)
Interest, Net of Amount Capitalized 86 71 242 183
Other Non-Operating (Income) Expense, Net (1) (12) 3 (20)
Total 30 (208) 298 (168)
Loss Before Income Taxes (280) (259) (1,231) (593)
Income Tax (Benefit) Provision (137) 24 (486) (180)
Net Income (Loss) Attributable to Noncontrolling Interest 1 0 1 0
Net Loss Including Noncontrolling Interests $ (144) $ (283) $ (746) $ (413)
Loss per share, basic (in dollars per share) $ (0.33) $ (0.67) $ (1.73) [1] $ (1.05)
Loss per share, diluted (in dollars per share) $ (0.33) $ (0.67) $ (1.73) [1] $ (1.05)
Weighted Average Number of Shares Outstanding        
Basic (in shares) [2] 430 420 430 392
Diluted (in shares) [3] 430 420 430 392
[1] No pro forma adjustments were made for the period as the acquisition is included in the Company's historical results.
[2] The weighted average number of shares outstanding includes the weighted average shares of common stock issued in connection with the underwritten public offering of 24.15 million shares of Noble Energy common stock in first quarter 2015 and issued in connection with the exchange of approximately 41 million shares for all outstanding shares of Rosetta common stock on July 20, 2015.
[3] For all periods, all outstanding options and non-vested restricted shares have been excluded from the calculation of diluted loss per share as Noble Energy incurred a net loss. Therefore, inclusion of outstanding options and non-vested restricted shares in the calculation of diluted loss per share would be anti-dilutive.