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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues and other:        
Natural gas and oil derivatives $ 159 $ (514) $ 1,089 $ (2,639)
Gains on sales of assets 472 21 807 300
Total revenues and other 1,891 3,520 5,261 4,455
Operating expenses:        
Production 89 118 220 228
Gathering, processing and transportation 207 274 471 516
Severance and ad valorem taxes 40 57 109 120
Exploration 8 7 15 12
General and administrative 31 36 66 62
Separation and other termination costs 3 0 3 0
Depreciation, depletion and amortization 376 451 766 860
Other operating expense, net 9 8 12 31
Total operating expenses 1,374 2,179 2,924 3,908
Income from operations 517 1,341 2,337 547
Other income (expense):        
Interest expense (22) (36) (59) (68)
Other income 23 9 33 25
Total other income (expense) 1 (27) (26) (43)
Income before income taxes 518 1,314 2,311 504
Income tax expense 127 77 531 31
Net income available to common stockholders, basic 391 1,237 1,780 473
Net income available to common stockholders, diluted $ 391 $ 1,237 $ 1,780 $ 473
Earnings per common share:        
Basic (in dollars per share) $ 2.93 $ 9.75 $ 13.27 $ 3.82
Diluted (in dollars per share) $ 2.73 $ 8.27 $ 12.36 $ 3.25
Weighted average common shares outstanding (in thousands):        
Basic (in shares) 133,514 126,814 134,125 123,826
Diluted (in shares) 143,267 149,532 144,007 145,534
Natural gas, oil and NGL        
Revenues and other:        
Revenue $ 649 $ 2,790 $ 2,102 $ 4,704
Marketing        
Revenues and other:        
Revenue 611 1,223 1,263 2,090
Operating expenses:        
Marketing $ 611 $ 1,228 $ 1,262 $ 2,079