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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
OPERATING REVENUES        
Operating revenues $ 1,295 $ 1,353 $ 4,015 $ 4,189
Gain on derivative instruments 64 3 48 129
Total operating revenues 1,359 1,356 4,063 4,318
OPERATING EXPENSES        
Direct operations 165 137 481 401
Gathering, processing and transportation 245 235 737 729
Taxes other than income 66 62 194 211
Exploration 9 5 19 14
Depreciation, depletion and amortization 475 421 1,354 1,185
General and administrative 75 79 218 213
Total operating expenses 1,035 939 3,003 2,753
Gain on sale of assets 3 7 3 12
INCOME FROM OPERATIONS 327 424 1,063 1,577
Interest expense 24 17 77 50
Interest income (16) (10) (51) (32)
Income before income taxes 319 417 1,037 1,559
Income tax expense 67 94 213 350
NET INCOME $ 252 $ 323 $ 824 $ 1,209
Earnings per share        
Basic (in dollars per share) $ 0.34 $ 0.43 $ 1.11 $ 1.59
Diluted (in dollars per share) $ 0.34 $ 0.42 $ 1.10 $ 1.58
Weighted-average common shares outstanding        
Basic (in shares) 738 753 743 757
Diluted (in shares) 744 758 749 762
Oil        
OPERATING REVENUES        
Operating revenues $ 765 $ 684 $ 2,240 $ 1,925
Natural gas        
OPERATING REVENUES        
Operating revenues 320 481 1,177 1,739
NGL        
OPERATING REVENUES        
Operating revenues 186 170 535 476
Other        
OPERATING REVENUES        
Operating revenues $ 24 $ 18 $ 63 $ 49