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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
OPERATING REVENUES        
Operating revenues $ 1,755 $ 1,295 $ 5,504 $ 4,015
Gain (loss) on derivative instruments, net 62 64 182 48
Total operating revenues 1,817 1,359 5,686 4,063
OPERATING EXPENSES        
Direct operations 275 165 727 481
Gathering, processing and transportation 270 245 823 737
Taxes other than income 93 66 276 194
Exploration 7 9 21 19
Depreciation, depletion and amortization 619 475 1,704 1,354
General and administrative 83 75 259 218
Total operating expenses 1,347 1,035 3,810 3,003
Gain on sale of assets 1 3 5 3
INCOME FROM OPERATIONS 471 327 1,881 1,063
Interest expense 50 24 156 77
Interest income (2) (16) (12) (51)
Other income 0 0 (1) 0
Income before income taxes 423 319 1,738 1,037
Income tax expense 101 67 389 213
NET INCOME $ 322 $ 252 $ 1,349 $ 824
Earnings per share        
Basic (in dollars per share) $ 0.42 $ 0.34 $ 1.77 $ 1.11
Diluted (in dollars per share) $ 0.42 $ 0.34 $ 1.76 $ 1.10
Weighted-average common shares outstanding        
Basic (in shares) 763 738 761 743
Diluted (in shares) 767 744 764 749
Oil        
OPERATING REVENUES        
Operating revenues $ 984 $ 765 $ 2,758 $ 2,240
Natural gas        
OPERATING REVENUES        
Operating revenues 519 320 2,018 1,177
NGL        
OPERATING REVENUES        
Operating revenues 213 186 638 535
Other        
OPERATING REVENUES        
Operating revenues $ 39 $ 24 $ 90 $ 63