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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Operating Revenues:        
Total operating revenues $ 1,269 $ 4,138 $ 3,387 $ 7,081
Operating Costs and Expenses:        
Operating expenses 418 402 836 783
General and administrative expenses 41 35 87 79
Merger-related expenses 0 2 0 27
Depreciation, depletion and amortization 328 288 641 563
Taxes, other than income taxes 58 65 126 122
Total operating costs and expense 1,326 2,007 2,838 3,651
Operating Income (Loss) (57) 2,131 549 3,430
Interest Expense:        
Interest on debt 60 73 123 141
Other interest charges 3 4 6 7
Interest capitalized (29) (29) (59) (59)
Total interest expense 34 48 70 89
Gain (Loss) on Derivatives 317 (879) 1,718 (4,806)
Loss on Early Extinguishment of Debt 0 (4) (19) (6)
Other Loss, Net 0 (1) (1) (1)
Income (Loss) Before Income Taxes 226 1,199 2,177 (1,472)
Provision (Benefit) for Income Taxes:        
Current 0 26 0 30
Deferred (5) 0 7 0
Total provision (benefit) from income taxes (5) 26 7 30
Net Income (Loss) $ 231 $ 1,173 $ 2,170 $ (1,502)
Earnings (Loss) Per Common Share:        
Basic (in dollars per share) $ 0.21 $ 1.05 $ 1.97 $ (1.35)
Diluted (in dollars per share) $ 0.21 $ 1.05 $ 1.97 $ (1.35)
Weighted Average Common Shares Outstanding:        
Basic (in shares) 1,101,167,082 1,116,175,758 1,100,725,127 1,115,456,855
Diluted (in shares) 1,102,724,782 1,118,244,778 1,102,487,313 1,115,456,855
Gas sales        
Operating Revenues:        
Total operating revenues $ 551 $ 2,485 $ 1,696 $ 4,177
Oil sales        
Operating Revenues:        
Total operating revenues 92 138 187 249
NGL sales        
Operating Revenues:        
Total operating revenues 153 310 354 582
Marketing        
Operating Revenues:        
Total operating revenues 475 1,207 1,154 2,073
Other        
Operating Revenues:        
Total operating revenues (2) (2) (4) 0
Marketing purchases        
Operating Costs and Expenses:        
Marketing purchases $ 481 $ 1,215 $ 1,148 $ 2,077