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CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 1,289 $ 956
Restricted cash 9 9
Short-term investments 250 0
Accounts receivable, net 878 843
Income taxes receivable 0 51
Inventories 52 59
Derivative instruments 62 85
Other current assets 10 12
Total current assets 2,550 2,015
Properties and equipment, net (Successful efforts method) 17,959 17,933
Other assets 444 467
Total assets 20,953 20,415
Current liabilities    
Accounts payable 788 803
Current portion of long-term debt 575 575
Accrued liabilities 280 261
Income taxes payable 49 0
Interest payable 17 21
Total current liabilities 1,709 1,660
Long-term debt 2,076 1,586
Deferred income taxes 3,391 3,413
Asset retirement obligations 283 280
Other liabilities 397 429
Total liabilities 7,856 7,368
Commitments and contingencies (Note 7)
Cimarex redeemable preferred stock 8 8
Stockholders’ equity    
Authorized — 1,800 shares of $0.10 par value in 2024 and 2023 Issued — 753 shares and 751 shares in 2024 and 2023, respectively 75 75
Additional paid-in capital 7,445 7,587
Retained earnings 5,558 5,366
Accumulated other comprehensive income 11 11
Total stockholders' equity 13,089 13,039
Total liabilities and stockholders' equity $ 20,953 $ 20,415