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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,349 $ 824
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 1,704 1,354
Deferred income tax expense (benefit) 285 (60)
Gain on sale of assets (5) (3)
Exploratory dry hole cost 0 5
(Gain) loss on derivative instruments, net (182) (48)
Net cash received on settlement of derivative instruments 49 90
Amortization of debt premium, discount and debt issuance costs, net (12) (13)
Stock-based compensation and other 43 43
Changes in assets and liabilities:    
Accounts receivable, net 130 79
Income taxes (189) 44
Inventories (12) 13
Other current assets 11 (17)
Accounts payable and accrued liabilities (163) (29)
Interest payable (2) (5)
Other assets and liabilities 45 (108)
Net cash provided by operating activities 3,051 2,169
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures for drilling, completion and other fixed asset additions (1,707) (1,329)
Capital expenditures for leasehold and property acquisitions (86) (6)
Cash consideration paid for business combinations, net of cash received (3,238) 0
Purchases of short-term investments 0 (250)
Proceeds from sale of short-term investments 0 250
Other (2) 8
Net cash used in investing activities (5,033) (1,327)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of debt 1,446 499
Repayments of debt (1,046) (575)
Common stock repurchases (51) (401)
Dividends paid (514) (470)
Tax withholding on vesting of stock awards (29) 0
Other 2 (12)
Net cash used in financing activities (192) (959)
Net decrease in cash, cash equivalents and restricted cash (2,174) (117)
Cash, cash equivalents and restricted cash, beginning of period 2,277 965
Cash, cash equivalents and restricted cash, end of period $ 103 $ 848