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Statement of Consolidated Operations (Unaudited) (USD $)
In Millions, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES AND OTHER:        
Oil and gas production revenues $ 4,355 $ 2,969 $ 8,233 $ 5,662
Other (17) 3 30 (17)
Total revenues and other 4,338 2,972 8,263 5,645
OPERATING EXPENSES:        
Depreciation, depletion and amortization 1,029 729 1,965 1,368
Asset retirement obligation accretion 38 25 75 49
Lease operating expenses 662 446 1,285 886
Gathering and transportation 73 43 149 83
Taxes other than income 255 187 419 364
General and administrative 103 84 215 171
Merger, acquisitions & transition 6 8 11 8
Financing costs, net 41 56 86 115
Total operating expenses 2,207 1,578 4,205 3,044
INCOME BEFORE INCOME TAXES 2,131 1,394 4,058 2,601
Current income tax provision 576 339 1,219 682
Deferred income tax provision 296 195 446 354
NET INCOME 1,259 860 2,393 1,565
Preferred stock dividends 19   38  
INCOME ATTRIBUTABLE TO COMMON STOCK $ 1,240 $ 860 $ 2,355 $ 1,565
NET INCOME PER COMMON SHARE:        
Basic $ 3.23 $ 2.55 $ 6.14 $ 4.64
Diluted $ 3.17 $ 2.53 $ 6.03 $ 4.61
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic 384 338 383 337
Diluted 397 339 397 339
DIVIDENDS DECLARED PER COMMON SHARE $ 0.15 $ 0.15 $ 0.30 $ 0.30