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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Revenues:      
Operating revenues $ 2,308 $ 3,038 $ 3,862
Operating Costs and Expenses:      
Operating expenses 813 720 785
General and administrative expenses 121 166 209
Montage merger-related expenses 41 0 0
Restructuring charges 16 11 39
(Gain) loss on sale of operating assets 0 2 (17)
Depreciation, depletion and amortization 357 471 560
Impairments 2,830 16 171
Taxes, other than income taxes 55 62 89
Total Operating Costs and Expenses 5,179 2,768 3,065
Operating Income (Loss) (2,871) 270 797
Interest Expense:      
Interest on debt 171 166 231
Other interest charges 11 8 8
Interest capitalized (88) (109) (115)
Total Interest Expense 94 65 124
Gain (Loss) on Derivatives 224 274 (118)
Gain (Loss) on Early Extinguishment of Debt 35 8 (17)
Other Income (Loss), Net 1 (7) 0
Income (Loss) Before Income Taxes (2,705) 480 538
Provision (Benefit) for Income Taxes:      
Current (2) (2) 1
Deferred 409 (409) 0
Provision (Benefit) for Income Taxes 407 (411) 1
Net Income (Loss) (3,112) 891 537 [1]
Participating securities – mandatory convertible preferred stock 0 0 2
Net Income (Loss) Attributable to Common Stock $ (3,112) $ 891 $ 535
Earnings (Loss) Per Common Share      
Basic (in dollars per share) $ (5.42) $ 1.65 $ 0.93
Diluted (in dollars per share) $ (5.42) $ 1.65 $ 0.93
Weighted Average Common Shares Outstanding:      
Basic (in shares) 573,889,502 539,345,343 574,631,756
Diluted (in shares) 573,889,502 540,382,914 576,642,808
Gas sales      
Operating Revenues:      
Operating revenues $ 967 $ 1,241 $ 1,998
Oil sales      
Operating Revenues:      
Operating revenues 154 223 196
NGL sales      
Operating Revenues:      
Operating revenues 265 274 352
Marketing      
Operating Revenues:      
Operating revenues 917 1,297 1,222
Gas gathering      
Operating Revenues:      
Operating revenues 0 0 89
Other      
Operating Revenues:      
Operating revenues 5 3 5
Marketing purchases      
Operating Costs and Expenses:      
Marketing purchases $ 946 $ 1,320 $ 1,229
[1] In 2018, deferred tax activity incurred in other comprehensive income was offset by a valuation allowance.