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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of oil derivative contracts volume and weighted average price
Volumes per day associated with outstanding oil derivative contracts as of December 31, 2020 and the weighted average oil prices for those contracts are as follows:
2021Year Ending December 31, 2022
First
Quarter		Second QuarterThird QuarterFourth Quarter
Brent swap contracts:
Volume per day (Bbl) 85,000 85,000 — — — 
Price per Bbl$46.88 $46.88 $— $— $— 
Brent collar contracts with short puts:
Volume per day (Bbl)90,000 90,000 90,000 90,000 20,000 
Price per Bbl:
Ceiling$50.74 $50.74 $50.74 $50.74 $57.88 
Floor$45.11 $45.11 $45.11 $45.11 $45.50 
Short put$35.07 $35.07 $35.07 $35.07 $35.00 
Brent call contracts sold:
Volume per day (Bbl) (a)20,000 20,000 20,000 20,000 — 
Price per Bbl:$69.74 $69.74 $69.74 $69.74 $— 
______________________
(a)The referenced call contracts were sold in exchange for higher ceiling prices on certain 2020 collar contracts with short puts.
Gas Volume And Weighted Average Price
Volumes per day associated with outstanding gas derivative contracts as of December 31, 2020 and the weighted average gas prices for those contracts are as follows:
2021
First
Quarter		Second QuarterThird QuarterFourth Quarter
NYMEX swap contracts:
Volume per day (MMBtu)127,222 100,000 100,000 100,000 
Price per MMBtu$2.66 $2.68 $2.68 $2.68 
Dutch TTF swap contracts:
Volume per day (MMBtu)30,000 30,000 30,000 30,000 
Price per MMBtu$5.07 $5.07 $5.07 $5.07 
NYMEX collar contracts:
Volume per day (MMBtu)150,000 150,000 150,000 150,000 
Price per MMBtu:
Ceiling$3.15 $3.15 $3.15 $3.15 
Floor$2.50 $2.50 $2.50 $2.50 
Basis swap contracts:
Permian Basin index swap volume per day (MMBtu) (a)10,000 — — — 
Price differential ($/MMBtu)
$(1.46)$— $— $— 
______________________
(a)The referenced basis swap contracts fix the basis differential between the index price at which the Company sells its Permian Basin gas and the NYMEX index prices used in swap contracts.
Marketing derivatives. The Company's marketing derivatives reflect two long-term marketing contracts that were entered in October 2019. Under the contract terms, beginning on January 1, 2021, the Company agreed to purchase and simultaneously sell 50 thousand barrels of oil per day at an oil terminal in Midland, Texas for a six-year term that ends on December 31, 2026. The price the Company pays to purchase the oil volumes under the purchase contract is based on a Midland WTI price and the price the Company receives for the oil volumes sold is a WASP that a non-affiliated counterparty receives for selling oil through their Gulf Coast storage and export facility at prices that are highly correlated with Brent oil prices during the same month of the purchase. Based on the form of the marketing contracts, the Company determined that the marketing contracts should be accounted for as derivative instruments.
Contingent consideration. The Company's right to receive contingent consideration in conjunction with the South Texas Divestiture was determined to be a derivative financial instrument that is not designated as a hedging instrument. Prior to its settlement in July 2020, the contingent consideration was based on forecasted oil and NGL prices during each of the five years from 2020 to 2024. See Note 3 and Note 4 and Note 15 for additional information.
Offsetting asset and liability The fair value of derivative financial instruments not designated as hedging instruments is as follows:
As of December 31, 2020
TypeConsolidated
Balance Sheet
Location		Fair
Value		Gross Amounts
Offset in the
Consolidated
Balance Sheet		Net Fair Value
Presented in the
Consolidated
Balance Sheet
  (in millions)
Assets:
Commodity price derivativesDerivatives - current$5 $— $5 
Commodity price derivativesDerivatives - noncurrent$3 $— $3 
Liabilities:
Commodity price derivativesDerivatives - current$198 $— $198 
Marketing derivativesDerivatives - current$36 $— $36 
Commodity price derivativesDerivatives - noncurrent$11 $— $11 
Marketing derivativesDerivatives - noncurrent$55 $— $55 

As of December 31, 2019
TypeConsolidated
Balance Sheet
Location		Fair
Value		Gross Amounts
Offset in the
Consolidated
Balance Sheet		Net Fair Value
Presented in the
Consolidated
Balance Sheet
  (in millions)
Assets:
Commodity price derivativesDerivatives - current$32 $— $32 
Marketing derivativesDerivatives - non current$21 $— $21 
Contingent considerationOther assets - noncurrent$91 $— $91 
Liabilities:
Commodity price derivativesDerivatives - current$12 $— $12 
Commodity price derivativesDerivatives - noncurrent$8 $— $8 
Schedule of derivative gains and losses recognized on statement of operations
Derivatives Not Designated
as Hedging Instruments		Location of Gain/(Loss) Recognized in Earnings on DerivativesYear Ended December 31,
202020192018
  (in millions)
Commodity price derivativesDerivative gain (loss), net$(147)$34 $(292)
Marketing derivativesDerivative gain (loss), net$(112)$21 $— 
Interest rate derivativesDerivative gain (loss), net$(22)$— $— 
Contingent considerationInterest and other income (loss), net$(42)$(45)$— 
Schedule of derivative assets or liabilities by counterparty
Net derivative liabilities associated with the Company's open commodity derivatives by counterparty are as follows:
As of December 31, 2020
 (in millions)
Citibank$49 
Scotia Bank25 
JP Morgan Chase20 
Merrill Lynch18 
Wells Fargo Bank17 
J Aron & Company16 
Morgan Stanley Capital Group16 
Bank of Montreal15 
Macquarie Bank15 
Royal Bank of Canada9 
Toronto-Dominion1 
$201