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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues and other:        
Natural gas and oil derivatives $ (11) $ 159 $ 161 $ 1,089
Gains on sales of assets 2 472 10 807
Total revenues and other 505 1,891 1,586 5,261
Operating expenses:        
Production 49 89 108 220
Gathering, processing and transportation 154 207 327 471
Severance and ad valorem taxes 18 40 47 109
Exploration 3 8 5 15
General and administrative 47 31 94 66
Separation and other termination costs 23 3 23 3
Depreciation, depletion and amortization 348 376 747 766
Other operating expense, net 16 9 33 12
Total operating expenses 799 1,374 1,848 2,924
Income (loss) from operations (294) 517 (262) 2,337
Other income (expense):        
Interest expense (20) (22) (39) (59)
Losses on purchases, exchanges or extinguishments of debt (2) 0 (2) 0
Other income 21 23 41 33
Total other income (expense) (1) 1 0 (26)
Income (loss) before income taxes (295) 518 (262) 2,311
Income tax expense (benefit) (68) 127 (61) 531
Net income (loss), basic (227) 391 (201) 1,780
Net income (loss), diluted $ (227) $ 391 $ (201) $ 1,780
Earnings (loss) per common share:        
Basic (in dollars per share) $ (1.73) $ 2.93 $ (1.53) $ 13.27
Diluted (in dollars per share) $ (1.73) $ 2.73 $ (1.53) $ 12.36
Weighted average common shares outstanding (in thousands):        
Basic (in shares) 131,168 133,514 131,030 134,125
Diluted (in shares) 131,168 143,267 131,030 144,007
Natural gas, oil and NGL        
Revenues and other:        
Revenue $ 378 $ 649 $ 967 $ 2,102
Marketing        
Revenues and other:        
Revenue 136 611 448 1,263
Operating expenses:        
Marketing $ 141 $ 611 $ 464 $ 1,262