Long-Term Debt and Credit Agreements (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt and Credit Agreement Components

The following table includes a summary of the Company’s long-term debt.

	December 31,
(In millions)	2022		2021
Total debt
6.51% weighted-average private placement senior notes	$	—	$	37
5.58% weighted-average private placement senior notes	—		87
3.65% weighted-average private placement senior notes(1)	825		825
4.375% senior notes due June 1, 2024 (2)	—		750
3.90% senior notes due May 15, 2027 (2)	750		750
4.375% senior notes due March 15, 2029 (2)	500		500
Revolving credit facility	—		—
Total	2,075		2,949
Net premium	111		185
Unamortized debt issuance costs	(5)		(9)
Long-term debt	$	2,181	$	3,125

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(1)The 3.65% weighted-average senior notes have bullet maturities of $575 million and $250 million due in September 2024 and 2026, respectively.

(2)These notes were assumed by the Company in October 2021 in connection with the Merger. Subsequent to an exchange transaction completed in October 2021, approximately $130 million of these notes remain the unsecured and unsubordinated obligation of Cimarex, a subsidiary of the Company, at December 31, 2022.

Schedule of Climarex Senior Note Debt

The following table includes a summary of Cimarex debt that was outstanding as of the consummation of the Merger on October 1, 2021:

(In millions)	Face Value		Fair Value
4.375% senior notes due June 1, 2024	$	750	$	809
3.90% senior notes due May 15, 2027	750		823
4.375% senior notes due March 15, 2029	500		564
	$	2,000	$	2,196