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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
OPERATING REVENUES        
Operating revenues $ 1,197 $ 2,638 $ 2,836 $ 4,708
Gain (loss) on derivative instruments (12) (66) 126 (457)
Total operating revenues 1,185 2,572 2,962 4,251
OPERATING EXPENSES        
Direct operations 130 116 264 216
Transportation, processing and gathering 258 238 494 471
Taxes other than income 63 98 149 174
Exploration 5 7 9 13
Depreciation, depletion and amortization 395 414 764 774
General and administrative 58 87 134 194
Total operating expenses 909 960 1,814 1,842
Gain (loss) on sale of assets 0 (3) 5 (1)
INCOME FROM OPERATIONS 276 1,609 1,153 2,408
Interest expense 16 22 33 43
Interest income (10) (1) (22) (1)
Income before income taxes 270 1,588 1,142 2,366
Income tax expense 61 359 256 529
NET INCOME $ 209 $ 1,229 $ 886 $ 1,837
Earnings per share        
Basic (in dollars per share) $ 0.28 $ 1.53 $ 1.16 $ 2.28
Diluted (in dollars per share) $ 0.27 $ 1.52 $ 1.16 $ 2.27
Weighted-average common shares outstanding        
Basic (in shares) 755 803 760 806
Diluted (in shares) 760 808 764 809
Natural gas        
OPERATING REVENUES        
Operating revenues $ 436 $ 1,468 $ 1,258 $ 2,579
Oil        
OPERATING REVENUES        
Operating revenues 626 876 1,241 1,575
NGL        
OPERATING REVENUES        
Operating revenues 129 280 306 525
Other        
OPERATING REVENUES        
Operating revenues $ 6 $ 14 $ 31 $ 29