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Derivative Instruments
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Derivative Instruments
As of June 30, 2024, the Company had the following outstanding financial commodity derivatives:
 202420252026
Natural GasThird QuarterFourth QuarterFirst QuarterSecond QuarterThird QuarterFourth QuarterFirst Quarter
NYMEX collars
     Volume (MMBtu)45,080,00028,890,00027,000,00027,300,000 27,600,000 27,600,000 18,000,000 
     Weighted average floor ($/MMBtu)$2.75 $2.75 $2.92 $2.92 $2.92 $2.92 $2.75 
     Weighted average ceiling ($/MMBtu)$3.94 $4.68 $5.12 $4.37 $4.37 $6.20 $8.30 
20242025
OilThird QuarterFourth QuarterFirst QuarterSecond Quarter
WTI oil collars
     Volume (MBbl)3,220 3,220 1,800 1,820 
     Weighted average floor ($/Bbl)$65.00 $65.00 $62.50 $62.50 
     Weighted average ceiling ($/Bbl)$87.01 $87.01 $81.67 $81.67 
WTI Midland oil basis swaps
     Volume (MBbl)4,6004,600 1,800 1,820 
     Weighted average differential ($/Bbl)$1.13 $1.13 $1.24 $1.24 

In July 2024, the Company entered into the following financial commodity derivatives:
2025
OilFirst QuarterSecond QuarterThird QuarterFourth Quarter
WTI oil collars
     Volume (MBbl)900 910 1,380 1,380 
     Weighted average floor ($/Bbl)$65.00 $65.00 $65.00 $65.00 
     Weighted average ceiling ($/Bbl)$84.07 $84.07 $83.18 $83.18 
WTI Midland oil basis swaps
     Volume (MBbl)900 910 1,380 1,380 
     Weighted average differential ($/Bbl)$1.13 $1.13 $1.14 $1.14 
Effect of Derivative Instruments on the Condensed Consolidated Balance Sheet
Fair Values of Derivative Instruments
  Derivative AssetsDerivative Liabilities
(In millions)Balance Sheet LocationJune 30,
2024		December 31,
2023		June 30,
2024		December 31,
2023
Commodity contractsOther current assets (current)$17 $85 $— $— 
Commodity contractsAccrued liabilities (current)— — 5 — 
Commodity contractsOther assets (non-current)2 7 — — 
$19 $92 $5 $— 
Offsetting of Derivative Assets and Liabilities in the Condensed Consolidated Balance Sheet
(In millions)June 30,
2024		December 31,
2023
Derivative assets  
Gross amounts of recognized assets$25 $93 
Gross amounts offset in the condensed consolidated balance sheet(6)(1)
Net amounts of assets presented in the condensed consolidated balance sheet19 92 
Gross amounts of financial instruments not offset in the condensed consolidated balance sheet— 1 
Net amount$19 $93 
Derivative liabilities   
Gross amounts of recognized liabilities$11 $1 
Gross amounts offset in the condensed consolidated balance sheet(6)(1)
Net amounts of liabilities presented in the condensed consolidated balance sheet5 — 
Gross amounts of financial instruments not offset in the condensed consolidated balance sheet— — 
Net amount$5 $— 
Effect of Derivative Instruments on the Condensed Consolidated Statement of Operations
 Three Months Ended 
June 30,		Six Months Ended 
June 30,
(In millions)2024202320242023
Cash received (paid) on settlement of derivative instruments    
Gas contracts$36 $82 $63 $181 
Oil contracts— 2 (1)3 
Non-cash loss on derivative instruments    
Gas contracts(50)(96)(43)(54)
Oil contracts(2)— (35)(4)
 $(16)$(12)$(16)$126