FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurement Information For Financial Instruments Measured on a Recurring Basis

The following table provides the fair value of financial instruments that are recorded at fair value in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023:

	As of March 31, 2024
	Level 1		Level 2		Level 3		Total Gross Fair Value		Gross Amounts Offset in Balance Sheet		Net Fair Value Presented in Balance Sheet
	(In millions)
Assets:
Current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	59	$	—	$	59	$	(52)	$	7
Non-current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	16	$	—	$	16	$	(9)	$	7
Non-current assets- Other assets:
Investment	$	8	$	—	$	—	$	8	$	—	$	8
Liabilities:
Current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	103	$	—	$	103	$	(52)	$	51
Interest rate swaps	$	—	$	51	$	—	$	51	$	—	$	51
Non-current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	9	$	—	$	9	$	(9)	$	—
Interest rate swaps	$	—	$	144	$	—	$	144	$	—	$	144

	As of December 31, 2023
	Level 1		Level 2		Level 3		Total Gross Fair Value		Gross Amounts Offset in Balance Sheet		Net Fair Value Presented in Balance Sheet
	(In millions)
Assets:
Current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	88	$	—	$	88	$	(71)	$	17
Non-current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	8	$	—	$	8	$	(7)	$	1
Non-current assets- Other assets:
Investment	$	5	$	—	$	—	$	5	$	—	$	5
Liabilities:
Current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	111	$	—	$	111	$	(71)	$	40
Interest rate swaps	$	—	$	46	$	—	$	46	$	—	$	46
Non-current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	12	$	—	$	12	$	(7)	$	5
Interest rate swaps	$	—	$	117	$	—	$	117	$	—	$	117

Schedule of Offsetting Assets

The following table provides the fair value of financial instruments that are recorded at fair value in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023:

	As of March 31, 2024
	Level 1		Level 2		Level 3		Total Gross Fair Value		Gross Amounts Offset in Balance Sheet		Net Fair Value Presented in Balance Sheet
	(In millions)
Assets:
Current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	59	$	—	$	59	$	(52)	$	7
Non-current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	16	$	—	$	16	$	(9)	$	7
Non-current assets- Other assets:
Investment	$	8	$	—	$	—	$	8	$	—	$	8
Liabilities:
Current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	103	$	—	$	103	$	(52)	$	51
Interest rate swaps	$	—	$	51	$	—	$	51	$	—	$	51
Non-current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	9	$	—	$	9	$	(9)	$	—
Interest rate swaps	$	—	$	144	$	—	$	144	$	—	$	144

	As of December 31, 2023
	Level 1		Level 2		Level 3		Total Gross Fair Value		Gross Amounts Offset in Balance Sheet		Net Fair Value Presented in Balance Sheet
	(In millions)
Assets:
Current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	88	$	—	$	88	$	(71)	$	17
Non-current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	8	$	—	$	8	$	(7)	$	1
Non-current assets- Other assets:
Investment	$	5	$	—	$	—	$	5	$	—	$	5
Liabilities:
Current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	111	$	—	$	111	$	(71)	$	40
Interest rate swaps	$	—	$	46	$	—	$	46	$	—	$	46
Non-current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	12	$	—	$	12	$	(7)	$	5
Interest rate swaps	$	—	$	117	$	—	$	117	$	—	$	117

Schedule of Offsetting Liabilities

The following table provides the fair value of financial instruments that are recorded at fair value in the condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023:

	As of March 31, 2024
	Level 1		Level 2		Level 3		Total Gross Fair Value		Gross Amounts Offset in Balance Sheet		Net Fair Value Presented in Balance Sheet
	(In millions)
Assets:
Current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	59	$	—	$	59	$	(52)	$	7
Non-current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	16	$	—	$	16	$	(9)	$	7
Non-current assets- Other assets:
Investment	$	8	$	—	$	—	$	8	$	—	$	8
Liabilities:
Current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	103	$	—	$	103	$	(52)	$	51
Interest rate swaps	$	—	$	51	$	—	$	51	$	—	$	51
Non-current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	9	$	—	$	9	$	(9)	$	—
Interest rate swaps	$	—	$	144	$	—	$	144	$	—	$	144

	As of December 31, 2023
	Level 1		Level 2		Level 3		Total Gross Fair Value		Gross Amounts Offset in Balance Sheet		Net Fair Value Presented in Balance Sheet
	(In millions)
Assets:
Current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	88	$	—	$	88	$	(71)	$	17
Non-current assets- Derivative instruments:
Commodity derivative instruments	$	—	$	8	$	—	$	8	$	(7)	$	1
Non-current assets- Other assets:
Investment	$	5	$	—	$	—	$	5	$	—	$	5
Liabilities:
Current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	111	$	—	$	111	$	(71)	$	40
Interest rate swaps	$	—	$	46	$	—	$	46	$	—	$	46
Non-current liabilities- Derivative instruments:
Commodity derivative instruments	$	—	$	12	$	—	$	12	$	(7)	$	5
Interest rate swaps	$	—	$	117	$	—	$	117	$	—	$	117

Schedule of Fair Value Measurement Information For Financial Instruments Measured On A Nonrecurring Basis

The following table provides the fair value of financial instruments that are not recorded at fair value in the condensed consolidated balance sheets:

	March 31, 2024				December 31, 2023
	Carrying				Carrying
	Value		Fair Value		Value		Fair Value
	(In millions)
Debt	$	6,629	$	6,474	$	6,641	$	6,507