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Organization and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure The following table shows the capitalized costs of natural gas and oil properties and the related accumulated depreciation, depletion and amortization as of December 31, 2023 and 2022:
(in millions)20232022
Proved properties$35,697 $33,546 
Unproved properties2,075 2,217 
Total capitalized costs37,772 35,763 
Less:  Accumulated depreciation, depletion and amortization(28,031)(25,033)
Net capitalized costs$9,741 $10,730 
Oil and Gas, Average Sale Price and Production Cost Prices used to calculate the ceiling value of reserves were as follows:
For the years ended December 31,
202320222021
Natural gas (per MMBtu)
$2.64 $6.36 $3.60 
Oil (per Bbl)
$78.22 $93.67 $66.56 
NGLs (per Bbl)
$21.38 $34.35 $28.65 
Composition of Net Unevaluated Costs Excluded from Amortization The table below sets forth the composition of net unevaluated costs excluded from amortization as of December 31, 2023:
(in millions)202320222021PriorTotal
Property acquisition costs$63 $86 $559 $1,005 $1,713 
Exploration and development costs24 9 8 18 59 
Capitalized interest115 91 75 22 303 
$202 $186 $642 $1,045 $2,075 
Schedule of Property, Plant and Equipment
The estimated useful lives of those assets depreciated under the straight-line method are as follows:
Water facilities
3 – 10 years
Gathering systems
15 – 25 years
Technology infrastructure
3 – 10 years
Drilling rigs and equipment
3 years
Buildings and leasehold improvements
5 – 30 years
Other property, plant and equipment is comprised of the following:
(in millions)December 31, 2023December 31, 2022
Water facilities$252 $238 
Gathering systems60 56 
Technology infrastructure146 135 
Drilling rigs and equipment35 31 
Land, buildings and leasehold improvements16 16 
Other57 51 
Less: Accumulated depreciation and impairment(394)(354)
Total$172 $173 
Schedule of Earnings Per Share
The following table presents the computation of earnings per share for the years ended December 31, 2023, 2022 and 2021:
For the years ended December 31,
(in millions, except share/per share amounts)202320222021
Net income (loss)$1,557 $1,849 $(25)
Number of common shares:
Weighted average outstanding1,100,980,199 1,110,564,839 789,657,776 
Issued upon assumed exercise of outstanding stock options— — — 
Effect of issuance of non-vested restricted common stock862,434 763,067 — 
Effect of issuance of non-vested restricted units1,431,754 1,500,815 — 
Effect of issuance of non-vested performance units131,868 355,533 — 
Weighted average and potential dilutive outstanding1,103,406,255 1,113,184,254 789,657,776 
   
Earnings (loss) per common share:   
Basic$1.41 $1.67 $(0.03)
Diluted$1.41 $1.66 $(0.03)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table presents the common stock shares equivalent excluded from the calculation of diluted earnings per share for the years ended December 31, 2023, 2022 and 2021, as they would have had an antidilutive effect:
For the years ended December 31,
202320222021
Unexercised stock options831,525 2,265,589 3,683,363 
Unvested share-based payment46,101 53,924 832,989 
Restricted units211,506 192,515 2,226,981 
Performance units— — 2,194,477 
Total1,089,132 2,512,028 8,937,810 
Schedule of Supplemental Disclosures of Cash Flow Information
The following table provides additional information concerning interest and income taxes paid as well as changes in noncash investing activities for the years ended December 31, 2023, 2022 and 2021:
For the years ended December 31,
(in millions)202320222021
Cash paid during the year for interest, net of amounts capitalized$140 $161 $106 
Cash paid during the year for income taxes13 41 — 
(1)
Non-cash investing activities(39)94 3,690 
(2)
Non-cash financing activities— — 2,051 
(3)
(1)Cash received in 2021 for income taxes was immaterial.
(2)Includes $3,045 million and $581 million in non-cash property additions related to the Indigo Merger and the GEPH Merger, respectively.
(3)Includes $1,588 million and $463 million in common stock consideration related to the Indigo Merger and the GEPH Merger, respectively.