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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating Revenues:        
Total operating revenues $ 1,443 $ 4,541 $ 4,830 $ 11,622
Operating Costs and Expenses:        
Operating expenses 444 423 1,280 1,206
General and administrative expenses 46 41 133 120
Merger-related expenses 0 0 0 27
Depreciation, depletion and amortization 338 298 979 861
Taxes, other than income taxes 63 76 189 198
Total operating costs and expense 1,436 2,127 4,274 5,778
Operating Income 7 2,414 556 5,844
Interest Expense:        
Interest on debt 61 77 184 218
Other interest charges 3 3 9 10
Interest capitalized (28) (30) (87) (89)
Total interest expense 36 50 106 139
Gain (Loss) on Derivatives 93 (1,903) 1,811 (6,709)
Loss on Early Extinguishment of Debt 0 0 (19) (6)
Other Income (Loss), Net 2 0 1 (1)
Income (Loss) Before Income Taxes 66 461 2,243 (1,011)
Provision for Income Taxes:        
Current 0 11 0 41
Deferred 21 0 28 0
Total provision (benefit) from income taxes 21 11 28 41
Net Income (Loss) $ 45 $ 450 $ 2,215 $ (1,052)
Earnings (Loss) Per Common Share:        
Basic (in dollars per share) $ 0.04 $ 0.41 $ 2.01 $ (0.94)
Diluted (in dollars per share) $ 0.04 $ 0.40 $ 2.01 $ (0.94)
Weighted Average Common Shares Outstanding:        
Basic (in shares) 1,101,231,113 1,110,259,907 1,100,895,642 1,113,705,502
Diluted (in shares) 1,104,027,634 1,112,522,861 1,102,867,675 1,113,705,502
Gas sales        
Operating Revenues:        
Total operating revenues $ 627 $ 2,884 $ 2,323 $ 7,061
Oil sales        
Operating Revenues:        
Total operating revenues 94 100 281 349
NGL sales        
Operating Revenues:        
Total operating revenues 169 260 523 842
Marketing        
Operating Revenues:        
Total operating revenues 553 1,298 1,707 3,371
Other        
Operating Revenues:        
Total operating revenues 0 (1) (4) (1)
Marketing purchases        
Operating Costs and Expenses:        
Marketing purchases $ 545 $ 1,289 $ 1,693 $ 3,366