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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Net Operating Revenues        
Crude Oil and Condensate $ 1,452,756 $ 2,618,975 $ 2,713,000 $ 5,016,077
Natural Gas Liquids 103,930 247,973 215,920 494,208
Natural Gas 274,038 509,091 561,820 1,065,784
Gains (Losses) on Mark-to-Market Commodity Derivative Contracts (48,493) (229,270) 27,715 (385,006)
Gathering, Processing and Marketing 678,356 1,027,795 1,248,626 2,043,206
Gains (Losses) on Asset Dispositions, Net (5,564) 3,856 (3,957) 15,354
Other, Net 14,678 9,136 25,115 21,604
Total 2,469,701 4,187,556 4,788,239 8,271,227
Operating Expenses        
Lease and Well 289,664 346,458 651,145 667,292
Transportation Costs 209,833 240,579 438,145 483,816
Gathering and Processing Costs 34,997 32,470 71,006 66,394
Exploration Costs 43,755 42,208 83,204 90,266
Dry Hole Costs (551) 5,558 14,119 13,906
Impairments 68,519 39,035 137,955 152,396
Marketing Costs 670,169 1,043,515 1,308,831 2,049,819
Depreciation, Depletion and Amortization 909,227 996,602 1,822,015 1,943,093
General and Administrative 82,324 90,932 166,621 173,794
Taxes Other Than Income 122,138 205,469 228,567 401,442
Total 2,430,075 3,042,826 4,921,608 6,042,218
Operating Income (Loss) 39,626 1,144,730 (133,369) 2,229,009
Other Income (Expense), Net 9,380 7,950 (611) 4,612
Income (Loss) Before Interest Expense and Income Taxes 49,006 1,152,680 (133,980) 2,233,621
Interest Expense        
Interest Expense, Net 60,484 51,867 113,829 102,019
Income (Loss) Before Income Taxes (11,478) 1,100,813 (247,809) 2,131,602
Income Tax Provision (Benefit) (16,746) 394,460 (83,329) 764,321
Net Income (Loss) $ 5,268 $ 706,353 $ (164,480) $ 1,367,281
Net Income (Loss) Per Share        
Basic $ 0.01 $ 1.30 $ (0.30) $ 2.52
Diluted 0.01 1.29 (0.30) 2.49
Dividends Declared per Common Share $ 0.1675 $ 0.1250 $ 0.3350 $ 0.2500
Average Number of Common Shares        
Basic 545,504 543,099 545,245 542,675
Diluted 549,683 548,676 545,245 548,046
Comprehensive Income (Loss)        
Net Income (Loss) $ 5,268 $ 706,353 $ (164,480) $ 1,367,281
Other Comprehensive Income (Loss)        
Foreign Currency Translation Adjustments 8,404 24,378 (4,763) 11,448
Foreign Currency Swap Transaction 0 0 0 50
Income Tax Related to Foreign Currency Swap Transaction 0 0 0 (670)
Interest Rate Swap Transaction 0 0 0 777
Income Tax Related to Interest Rate Swap Transaction 0 0 0 (281)
Other 27 (593) (184) (570)
Other Comprehensive Income (Loss) 8,431 23,785 (4,947) 10,754
Comprehensive Income (Loss) $ 13,699 $ 730,138 $ (169,427) $ 1,378,035