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Consolidated Statements of Operations (unaudited) (USD $)
In Millions, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Oil, Gas and NGL Sales $ 895 $ 710 $ 1,725 $ 1,398
Income from Equity Method Investees 48 24 96 50
Other Revenues 11 17 33 36
Total 954 751 1,854 1,484
Costs and Expenses        
Production Expense 155 150 296 289
Exploration Expense 68 52 138 132
Depreciation, Depletion and Amortization 235 215 456 431
General and Administrative 82 63 165 129
Asset Impairments 131 0 139 0
Other Operating (Income) Expense, Net (11) 41 18 55
Total 660 521 1,212 1,036
Operating Income 294 230 642 448
Other (Income) Expense        
(Gain) Loss on Commodity Derivative Instruments (143) (96) 143 (242)
Interest, Net of Amount Capitalized 21 19 37 39
Other Non-Operating (Income) Expense, Net (9) (13) 0 (13)
Total (131) (90) 180 (216)
Income Before Income Taxes 425 320 462 664
Income Tax Provision 131 116 154 223
Net Income $ 294 $ 204 $ 308 $ 441
Earnings Per Share, Basic $ 1.66 $ 1.17 $ 1.75 $ 2.53
Earnings Per Share, Diluted $ 1.61 $ 1.10 $ 1.73 $ 2.44
Weighted Average Number of Shares Outstanding, Basic 176 175 176 175
Weighted Average Number of Shares Outstanding, Diluted 179 178 178 178