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INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Investments And Related Party Transactions Disclosure [Abstract]  
Schedule of significant equity investments
The following table represents significant investments in unconsolidated entities as of December 31, 2025:

millions% Economic InterestCarrying amount
WES43.1 %$2,032 
NET Power40.3 %— 
DEL(a)
24.5 %— 
Othervarious443 
Total Investments in unconsolidated entities $2,475 
(a)    Not presented in investments in unconsolidated entities is the Company’s 24.5% ownership in DEL, which had a carrying value of $220 million and is presented in deferred credits and other liabilities - other.
Schedule of cumulative undistributed earnings and investments in excess of equity
The following table represents cumulative undistributed earnings and investments in excess of equity as of December 31, 2025 and 2024:

millions20252024
Cumulative undistributed earnings$664 $764 
Investments in excess of equity
Investment in excess of equity allocated to PP&E and equity investments$279 $316 
Investment in excess of equity allocated to intangibles and other assets$93 $105 
Total investments in excess of equity$372 $421 
Schedule of financial information of equity-method investments
The following table presents the summarized financial information of its equity-method investments combined for the years ended and as of December 31, 2025, 2024 and 2023:

millions202520242023
Summarized Results of Operations
Revenues and other income$4,794 $4,580 $4,086 
Costs and expenses5,136 3,025 3,219 
Net income$(342)$1,555 $867 
Summarized Balance Sheet
Current assets$4,086 $4,643 $4,493 
Non-current assets$17,599 $17,132 $17,634 
Current liabilities$2,279 $2,183 $2,462 
Long-term debt$9,787 $9,296 $9,673 
Other non-current liabilities$2,624 $2,328 $2,292 
Equity
$6,995 $7,968 $7,700 
Schedule of related-party transactions entered into the following related-party transactions and had the following amounts due from or to its related parties for the years ended December 31:
millions202520242023
Sales (a)
$128 $146 $153 
Purchases (b)
$4 $28 $159 
Services (c)
$1,505 $1,415 $1,156 
Advances and amounts due from related parties$30 $36 $49 
Amounts due to related parties$333 $342 $331 
(a)In 2025, 2024 and 2023, sales of Company-produced oil and NGL to WES accounted for 53%, 58% and 63% of related party sales, respectively.
(b)In 2025, 2024 and 2023, purchases of gas and NGL marketed on behalf of WES accounted for all of the related party purchases.
(c)In 2025, 2024 and 2023, services primarily related to fees charged by WES to gather, process and treat the Company produced oil, NGL and natural gas.