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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
1 Months Ended 8 Months Ended 9 Months Ended
Feb. 09, 2021
Sep. 30, 2021
Sep. 30, 2022
Cash flows from operating activities:      
Net income (loss) $ 5,383 $ (489) $ 1,356
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 72 579 1,300
Deferred income tax expense (benefit) (57) 0 19
Derivative losses, net 382 1,604 3,668
Cash payments on derivative settlements, net (17) (437) (2,845)
Share-based compensation 3 5 16
Gains on sales of assets (5) (9) (298)
Impairments 0 1 0
Non-cash reorganization items, net (6,680) 0 0
Exploration 2 1 10
Other 45 10 19
Changes in assets and liabilities 851 (19) (170)
Net cash provided by (used in) operating activities (21) 1,246 3,075
Cash flows from investing activities:      
Capital expenditures (66) (404) (1,299)
Business combination, net 0 0 (1,967)
Proceeds from divestitures of property and equipment 0 9 409
Net cash used in investing activities (66) (395) (2,857)
Cash flows from financing activities:      
Proceeds from Exit Credit Facility - Tranche A Loans 0 30 7,255
Payments on Exit Credit Facility - Tranche A Loans (479) (80) (6,805)
Payments on DIP Facility borrowings (1,179) 0 0
Proceeds from issuance of senior notes, net 1,000 0 0
Proceeds from issuance of common stock 600 0 0
Proceeds from warrant exercise 0 2 3
Debt issuance and other financing costs (8) (3) 0
Cash paid to repurchase and retire common stock 0 0 (667)
Cash paid for common stock dividends 0 (67) (788)
Other 0 (1) 0
Net cash used in financing activities (66) (119) (1,002)
Net increase (decrease) in cash, cash equivalents and restricted cash (153) 732 (784)
Cash, cash equivalents and restricted cash, beginning of period 279 126 914
Cash, cash equivalents and restricted cash, end of period 126 858 130
Cash and cash equivalents 40 849 74
Restricted cash 86 9 56
Total cash, cash equivalents and restricted cash 126 858 130
Supplemental cash flow information:      
Cash paid for reorganization items, net 66 65 0
Interest paid, net of capitalized interest 13 33 107
Income taxes paid, net of refunds received 0 (3) 181
Supplemental disclosure of significant non-cash investing and financing activities:      
Put option premium on equity backstop agreement 60 0 0
Common stock issued for business combination 0 0 764
Operating lease obligations recognized 0 0 25
Change in accrued drilling and completion costs      
Supplemental disclosure of significant non-cash investing and financing activities:      
Change in accrued drilling and completion costs $ (5) $ 25 $ 193