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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating Revenues:        
Total operating revenues $ 527 $ 636 $ 1,529 $ 2,293
Operating Costs and Expenses:        
Operating expenses 202 189 577 523
General and administrative expenses 31 42 89 119
Montage acquisition-related expenses 3 0 3 0
Restructuring charges 0 4 12 9
Loss on sale of operating assets 0 0 0 3
Depreciation, depletion and amortization 70 125 267 352
Impairments 361 2 2,495 8
Taxes, other than income taxes 15 15 38 51
Total operating costs and expense 908 665 4,156 2,087
Operating Income (Loss) (381) (29) (2,627) 206
Interest Expense:        
Interest on debt 43 42 123 125
Other interest charges 2 2 7 5
Interest capitalized (23) (27) (67) (84)
Total Interest Expense 22 17 63 46
Gain (Loss) on Derivatives (192) 100 38 220
Gain on Early Extinguishment of Debt 0 7 35 7
Other Income (Loss), Net 2 (2) 3 (7)
Income (Loss) Before Income Taxes (593) 59 (2,614) 380
Provision (Benefit) for Income Taxes:        
Current 0 (1) (2) (1)
Deferred 0 11 408 (400)
Total Provision (Benefit) from Income Taxes 0 10 406 (401)
Net Income (Loss) $ (593) $ 49 $ (3,020) $ 781
Earnings (Loss) Per Common Share:        
Basic (in dollars per share) $ (1.04) $ 0.09 $ (5.48) $ 1.45
Diluted (in dollars per share) $ (1.04) $ 0.09 $ (5.48) $ 1.44
Weighted Average Common Shares Outstanding:        
Basic (in shares) 571,872,413 539,221,101 551,162,559 539,315,170
Diluted (in shares) 571,872,413 540,038,187 551,162,559 540,442,649
Gas sales        
Operating Revenues:        
Total operating revenues $ 199 $ 238 $ 611 $ 943
Oil sales        
Operating Revenues:        
Total operating revenues 40 67 111 153
NGL sales        
Operating Revenues:        
Total operating revenues 68 52 158 191
Marketing        
Operating Revenues:        
Total operating revenues 219 279 645 1,004
Other        
Operating Revenues:        
Total operating revenues 1 0 4 2
Marketing purchases        
Operating Costs and Expenses:        
Marketing purchases $ 226 $ 288 $ 675 $ 1,022