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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
OPERATING REVENUES        
Operating revenues $ 2,676 $ 641 $ 7,384 $ 1,526
Loss on derivative instruments (156) (201) (613) (302)
Total operating revenues 2,520 440 6,771 1,224
OPERATING EXPENSES        
Direct operations 118 21 334 54
Transportation, processing and gathering 255 149 726 419
Taxes other than income 102 8 276 17
Exploration 10 4 23 9
Depreciation, depletion and amortization 422 97 1,196 283
General and administrative 107 64 301 116
Total operating expenses 1,014 343 2,856 898
Loss on sale of assets 0 0 (1) 0
INCOME FROM OPERATIONS 1,506 97 3,914 326
Interest expense, net 17 13 59 38
Gain on debt extinguishment (26) 0 (26) 0
Income before income taxes 1,515 84 3,881 288
Income tax expense 319 20 848 68
NET INCOME $ 1,196 $ 64 $ 3,033 $ 220
Earnings per share        
Basic (in dollars per share) $ 1.51 $ 0.16 $ 3.78 $ 0.55
Diluted (in dollars per share) $ 1.50 $ 0.16 $ 3.77 $ 0.55
Weighted-average common shares outstanding        
Basic (in shares) 792 400 801 399
Diluted (in shares) 797 403 805 402
Natural gas        
OPERATING REVENUES        
Operating revenues $ 1,644 $ 641 $ 4,223 $ 1,526
Oil        
OPERATING REVENUES        
Operating revenues 755 0 2,330 0
NGL        
OPERATING REVENUES        
Operating revenues 259 0 784 0
Other        
OPERATING REVENUES        
Operating revenues $ 18 $ 0 $ 47 $ 0