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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 2,276,000,000 $ (4,672,000,000) $ 315,000,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Provision for (benefit from) deferred income taxes 606,000,000 (1,042,000,000) 47,000,000
Impairment of oil and natural gas properties 0 6,021,000,000 790,000,000
Depreciation, depletion, amortization and accretion 1,275,000,000 1,311,000,000 1,454,000,000
(Gain) loss on extinguishment of debt 75,000,000 5,000,000 56,000,000
(Gain) loss on derivative instruments, net 848,000,000 81,000,000 108,000,000
Cash received (paid) on settlement of derivative instruments (1,247,000,000) 250,000,000 80,000,000
Equity-based compensation expense 51,000,000 37,000,000 48,000,000
(Gain) loss on sale of equity method investments (23,000,000) 0 0
Other 47,000,000 30,000,000 8,000,000
Changes in operating assets and liabilities:      
Accounts receivable (196,000,000) 217,000,000 (187,000,000)
Income tax receivable 152,000,000 (62,000,000) 0
Prepaid expenses and other 20,000,000 2,000,000 29,000,000
Accounts payable and accrued liabilities (41,000,000) (20,000,000) (129,000,000)
Revenues and royalties payable 148,000,000 (41,000,000) 135,000,000
Other (47,000,000) 1,000,000 (15,000,000)
Net cash provided by (used in) operating activities 3,944,000,000 2,118,000,000 2,739,000,000
Cash flows from investing activities:      
Drilling, completions and infrastructure additions to oil and natural gas properties (1,457,000,000) (1,719,000,000) (2,677,000,000)
Additions to midstream assets (30,000,000) (140,000,000) (244,000,000)
Property acquisitions (812,000,000) (185,000,000) (776,000,000)
Proceeds from sale of assets 820,000,000 63,000,000 300,000,000
Contributions to equity method investments (114,000,000) (102,000,000) (485,000,000)
Distributions from equity method investments 9,000,000 40,000,000 0
Other 45,000,000 (58,000,000) (6,000,000)
Net cash provided by (used in) investing activities (1,539,000,000) (2,101,000,000) (3,888,000,000)
Cash flows from financing activities:      
Proceeds from borrowings under credit facilities 1,313,000,000 1,130,000,000 2,350,000,000
Repayments under credit facilities (1,000,000,000) (1,478,000,000) (3,718,000,000)
Proceeds from senior notes 2,200,000,000 997,000,000 3,469,000,000
Repayment of senior notes (3,193,000,000) (239,000,000) (1,250,000,000)
Proceeds from (repayments to) joint venture (20,000,000) 40,000,000 39,000,000
Premium on extinguishment of debt (178,000,000) (2,000,000) (44,000,000)
Public offering costs 0 0 (41,000,000)
Proceeds from public offerings 0 0 1,106,000,000
Repurchased shares under buyback program (431,000,000) (98,000,000) (593,000,000)
Repurchased units under buyback program (94,000,000) (39,000,000) 0
Dividends to stockholders (312,000,000) (236,000,000) (112,000,000)
Distributions to non-controlling interest (112,000,000) (93,000,000) (122,000,000)
Financing portion of net cash received (paid) for derivative instruments 22,000,000 0 0
Other (36,000,000) (19,000,000) (22,000,000)
Net cash provided by (used in) financing activities (1,841,000,000) (37,000,000) 1,062,000,000
Net increase (decrease) in cash and cash equivalents 564,000,000 (20,000,000) (87,000,000)
Cash, cash equivalents and restricted cash at beginning of period 108,000,000 [1] 128,000,000 [1] 215,000,000
Cash, cash equivalents and restricted cash at end of period [1] $ 672,000,000 $ 108,000,000 $ 128,000,000
[1] See Note 2—Summary of Significant Accounting Policies