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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
1 Months Ended 2 Months Ended 3 Months Ended
Feb. 09, 2021
Mar. 31, 2021
Mar. 31, 2022
Revenues and other:      
Oil and natural gas derivatives $ (382) $ 46 $ (2,125)
Gains on sales of assets 5 4 279
Total revenues and other 260 880 935
Operating expenses:      
Severance and ad valorem taxes 18 24 63
General and administrative 21 15 26
Separation and other termination costs 22 0 0
Depreciation, depletion and amortization 72 122 409
Other operating expense (income), net (12) 2 23
Total operating expenses 494 595 1,729
Income (loss) from operations (234) 285 (794)
Other income (expense):      
Interest expense (11) (12) (32)
Other income 2 22 16
Reorganization items, net 5,569 0 0
Total other income (expense) 5,560 10 (16)
Income (loss) before income taxes 5,326 295 (810)
Income tax benefit (57) 0 (46)
Net income (loss) available to common stockholders 5,383 295 (764)
Net income (loss), basic and diluted $ 5,383 $ 295 $ (764)
Earnings (loss) per common share:      
Basic (in dollars per share) $ 550.35 $ 3.01 $ (6.32)
Diluted (in dollars per share) $ 534.51 $ 2.75 $ (6.32)
Weighted average common shares outstanding (in thousands):      
Basic (in shares) 9,781 97,907 120,805
Diluted (in shares) 10,071 107,159 120,805
Oil, natural gas and NGL      
Revenues and other:      
Revenue $ 398 $ 553 $ 1,914
Marketing      
Revenues and other:      
Revenue 239 277 867
Operating expenses:      
Expense 237 280 851
Production      
Operating expenses:      
Expense 32 40 110
Gathering, processing and transportation      
Operating expenses:      
Expense 102 111 242
Exploration      
Operating expenses:      
Expense $ 2 $ 1 $ 5