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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating Revenues and Other        
Total $ 4,139,000,000 $ 1,103,000,000 $ 7,833,000,000 $ 5,821,000,000
Operating Expenses        
Lease and Well 270,000,000 245,000,000 540,000,000 575,000,000
Transportation Costs 214,000,000 152,000,000 416,000,000 360,000,000
Gathering and Processing Costs 128,000,000 97,000,000 267,000,000 225,000,000
Exploration Costs 35,000,000 27,000,000 68,000,000 67,000,000
Dry Hole Costs 13,000,000 0 24,000,000 0
Impairments 44,000,000 305,000,000 88,000,000 1,878,000,000
Marketing Costs 991,000,000 444,000,000 1,829,000,000 1,554,000,000
Depreciation, Depletion and Amortization 914,000,000 707,000,000 1,814,000,000 1,707,000,000
General and Administrative 120,000,000 132,000,000 230,000,000 246,000,000
Taxes Other Than Income 239,000,000 81,000,000 454,000,000 238,000,000
Total 2,968,000,000 2,190,000,000 5,730,000,000 6,850,000,000
Operating Income (Loss) 1,171,000,000 (1,087,000,000) 2,103,000,000 (1,029,000,000)
Other Income (Expense), Net (2,000,000) (4,000,000) (6,000,000) 14,000,000
Income (Loss) Before Interest Expense and Income Taxes 1,169,000,000 (1,091,000,000) 2,097,000,000 (1,015,000,000)
Interest Expense        
Interest Expense, Net 45,000,000 54,000,000 92,000,000 99,000,000
Income (Loss) Before Income Taxes 1,124,000,000 (1,145,000,000) 2,005,000,000 (1,114,000,000)
Income Tax Provision (Benefit) 217,000,000 (235,000,000) 421,000,000 (214,000,000)
Net Income (Loss) $ 907,000,000 $ (910,000,000) $ 1,584,000,000 $ (900,000,000)
Net Income (Loss) Per Share        
Basic $ 1.56 $ (1.57) $ 2.73 $ (1.55)
Diluted $ 1.55 $ (1.57) $ 2.72 $ (1.55)
Average Number of Common Shares        
Basic 580,000 579,000 580,000 579,000
Diluted 584,000 579,000 583,000 579,000
Other Comprehensive Loss        
Foreign Currency Translation Adjustments $ (1,000,000) $ (2,000,000) $ (3,000,000) $ 0
Other, Net of Tax 0 0 0 0
Other Comprehensive Loss (1,000,000) (2,000,000) (3,000,000) 0
Comprehensive Income (Loss) 906,000,000 (912,000,000) 1,581,000,000 (900,000,000)
Crude Oil and Condensate        
Operating Revenues and Other        
Revenues 2,699,000,000 615,000,000 4,950,000,000 2,680,000,000
Natural Gas Liquids        
Operating Revenues and Other        
Revenues 367,000,000 93,000,000 681,000,000 254,000,000
Natural Gas        
Operating Revenues and Other        
Revenues 404,000,000 141,000,000 1,029,000,000 351,000,000
Gains (Losses) on Mark-to-Market Commodity Derivative Contracts        
Operating Revenues and Other        
Revenues (427,000,000) (127,000,000) (794,000,000) 1,079,000,000
Gathering, Processing and Marketing        
Operating Revenues and Other        
Revenues 1,022,000,000 362,000,000 1,870,000,000 1,401,000,000
Gains (Losses) on Asset Dispositions, Net        
Operating Revenues and Other        
Revenues 51,000,000 14,000,000 45,000,000 30,000,000
Other, Net        
Operating Revenues and Other        
Revenues $ 23,000,000 $ 5,000,000 $ 52,000,000 $ 26,000,000