Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Summary of Revenue from Contracts with Customers on a Disaggregated Basis

Revenue from contracts with customers on a disaggregated basis was as follows (in millions):

	Exploration and Production								Midstream		Eliminations		Total
	United States		Guyana		Malaysia and JDA		E&P Total
Three Months Ended June 30, 2024
Sales of net production volumes:
Crude oil revenue	$	820	$	1,370	$	29	$	2,219	$	—	$	—	$	2,219
Natural gas liquids revenue	140		—		—		140		—		—		140
Natural gas revenue	28		—		229		257		—		—		257
Sales of purchased oil and gas	548		27		—		575		—		—		575
Third-party services	—		—		—		—		6		—		6
Intercompany revenue	—		—		—		—		358		(358)		—
Total sales (a)	1,536		1,397		258		3,191		364		(358)		3,197
Other operating revenues (b)	4		—		—		4		1		—		5
Total sales and other operating revenues	$	1,540	$	1,397	$	258	$	3,195	$	365	$	(358)	$	3,202
Three Months Ended June 30, 2023
Sales of net production volumes:
Crude oil revenue	$	710	$	787	$	24	$	1,521	$	—	$	—	$	1,521
Natural gas liquids revenue	112		—		—		112		—		—		112
Natural gas revenue	38		—		182		220		—		—		220
Sales of purchased oil and gas	469		15		—		484		—		—		484
Intercompany revenue	—		—		—		—		322		(322)		—
Total sales (a)	1,329		802		206		2,337		322		(322)		2,337
Other operating revenues (b)	(30)		(20)		—		(50)		2		—		(48)
Total sales and other operating revenues	$	1,299	$	782	$	206	$	2,287	$	324	$	(322)	$	2,289
Six Months Ended June 30, 2024
Sales of net production volumes:
Crude oil revenue	$	1,609	$	2,880	$	58	$	4,547	$	—	$	—	$	4,547
Natural gas liquids revenue	293		—		—		293		—		—		293
Natural gas revenue	76		—		440		516		—		—		516
Sales of purchased oil and gas	1,081		57		—		1,138		—		—		1,138
Third-party services	—		—		—		—		11		—		11
Intercompany revenue	—		—		—		—		708		(708)		—
Total sales (a)	3,059		2,937		498		6,494		719		(708)		6,505
Other operating revenues (b)	4		—		—		4		2		—		6
Total sales and other operating revenues	$	3,063	$	2,937	$	498	$	6,498	$	721	$	(708)	$	6,511
Six Months Ended June 30, 2023
Sales of net production volumes:
Crude oil revenue	$	1,379	$	1,612	$	53	$	3,044	$	—	$	—	$	3,044
Natural gas liquids revenue	253		—		—		253		—		—		253
Natural gas revenue	92		—		362		454		—		—		454
Sales of purchased oil and gas	996		32		—		1,028		—		—		1,028
Intercompany revenue	—		—		—		—		625		(625)		—
Total sales (a)	2,720		1,644		415		4,779		625		(625)		4,779
Other operating revenues (b)	(56)		(27)		—		(83)		4		—		(79)
Total sales and other operating revenues	$	2,664	$	1,617	$	415	$	4,696	$	629	$	(625)	$	4,700

(a)Guyana crude oil revenue includes $214 million and $466 million of revenue from non-customers for the three and six months ended June 30, 2024, compared to $88 million and $196 million for the three and six months ended June 30, 2023.

(b)Other operating revenues are not a component of revenues from contracts with customers. Included within other operating revenues are gains (losses) on commodity derivatives of nil for the three and six months ended June 30, 2024, compared to losses of $(52) million and $(86) million for the three and six months ended June 30, 2023.