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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues and other:        
Natural gas and oil derivatives $ 106 $ (1,029) $ 1,195 $ (3,668)
Gains (losses) on sales of assets 0 (2) 807 298
Total revenues and other 1,512 3,162 6,773 7,617
Operating expenses:        
Production 73 121 293 349
Gathering, processing and transportation 192 286 663 802
Severance and ad valorem taxes 27 67 136 187
Exploration 4 2 19 14
General and administrative 29 40 95 102
Separation and other termination costs 0 0 3 0
Depreciation, depletion and amortization 382 440 1,148 1,300
Other operating expense, net 3 1 15 32
Total operating expenses 1,433 2,157 4,357 6,065
Income from operations 79 1,005 2,416 1,552
Other income (expense):        
Interest expense (23) (52) (82) (120)
Other income 15 4 48 29
Total other expense (8) (48) (34) (91)
Income before income taxes 71 957 2,382 1,461
Income tax expense 1 74 532 105
Net income, basic 70 883 1,850 1,356
Net income, diluted $ 70 $ 883 $ 1,850 $ 1,356
Earnings per common share:        
Basic (in dollars per share) $ 0.53 $ 7.29 $ 13.86 $ 11.03
Diluted (in dollars per share) $ 0.49 $ 6.12 $ 12.90 $ 9.35
Weighted average common shares outstanding (in thousands):        
Basic (in shares) 132,153 121,150 133,460 122,924
Diluted (in shares) 142,348 144,390 143,463 145,031
Natural gas, oil and NGL        
Revenues and other:        
Revenue $ 682 $ 2,987 $ 2,784 $ 7,691
Marketing        
Revenues and other:        
Revenue 724 1,206 1,987 3,296
Operating expenses:        
Marketing $ 723 $ 1,200 $ 1,985 $ 3,279