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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
OPERATING REVENUES        
Operating revenues $ 1,733 $ 1,287 $ 3,749 $ 2,720
Gain (loss) on derivative instruments 232 (16) 120 (16)
Total operating revenues 1,965 1,271 3,869 2,704
OPERATING EXPENSES        
Direct operations 236 160 452 316
Gathering, processing and transportation 271 242 553 492
Taxes other than income 87 54 183 128
Exploration 4 5 14 10
Depreciation, depletion and amortization 579 447 1,085 879
General and administrative 84 68 176 143
Total operating expenses 1,261 976 2,463 1,968
Gain on sale of assets 4 1 4 0
INCOME FROM OPERATIONS 708 296 1,410 736
Interest expense 53 34 106 53
Interest income (2) (19) (10) (35)
Other income (1) 0 (1) 0
Income before income taxes 658 281 1,315 718
Income tax expense 147 61 288 146
NET INCOME $ 511 $ 220 $ 1,027 $ 572
Earnings per share        
Basic (in dollars per share) $ 0.67 $ 0.30 $ 1.35 $ 0.77
Diluted (in dollars per share) $ 0.67 $ 0.29 $ 1.35 $ 0.76
Weighted-average common shares outstanding        
Basic (in shares) 763 742 759 746
Diluted (in shares) 767 748 762 752
Oil        
OPERATING REVENUES        
Operating revenues $ 888 $ 774 $ 1,774 $ 1,475
Natural gas        
OPERATING REVENUES        
Operating revenues 601 319 1,499 857
NGL        
OPERATING REVENUES        
Operating revenues 219 176 425 349
Other        
OPERATING REVENUES        
Operating revenues $ 25 $ 18 $ 51 $ 39