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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
OPERATING REVENUES        
Operating revenues $ 1,287 $ 1,197 $ 2,720 $ 2,836
(Loss) gain on derivative instruments (16) (12) (16) 126
Total operating revenues 1,271 1,185 2,704 2,962
OPERATING EXPENSES        
Direct operations 160 130 316 264
Gathering, processing and transportation 242 258 492 494
Taxes other than income 54 63 128 149
Exploration 5 5 10 9
Depreciation, depletion and amortization 447 395 879 764
General and administrative 68 58 143 134
Total operating expenses 976 909 1,968 1,814
Gain on sale of assets 1 0 0 5
INCOME FROM OPERATIONS 296 276 736 1,153
Interest expense 34 16 53 33
Interest income (19) (10) (35) (22)
Income before income taxes 281 270 718 1,142
Income tax expense 61 61 146 256
NET INCOME $ 220 $ 209 $ 572 $ 886
Earnings per share        
Basic (in dollars per share) $ 0.30 $ 0.28 $ 0.77 $ 1.16
Diluted (in dollars per share) $ 0.29 $ 0.27 $ 0.76 $ 1.16
Weighted-average common shares outstanding        
Basic (in shares) 742 755 746 760
Diluted (in shares) 748 760 752 764
Oil        
OPERATING REVENUES        
Operating revenues $ 774 $ 626 $ 1,475 $ 1,241
Natural gas        
OPERATING REVENUES        
Operating revenues 319 436 857 1,258
NGL        
OPERATING REVENUES        
Operating revenues 176 129 349 306
Other        
OPERATING REVENUES        
Operating revenues $ 18 $ 6 $ 39 $ 31