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Statement of Consolidated Operations (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
REVENUES AND OTHER:        
Oil and gas production revenues $ 3,956 $ 4,355 $ 8,413 $ 8,233
Other 16 (17) 95 30
Total revenues and other 3,972 4,338 8,508 8,263
Depreciation, depletion and amortization [Abstract]        
Recurring 1,284 1,033 2,503 1,939
Additional 648 26 1,169 26
Asset retirement obligation accretion 57 38 112 75
Lease operating expenses 704 662 1,377 1,285
Gathering and transportation 72 73 149 149
Taxes other than income 203 255 460 419
General and administrative 132 103 260 215
Merger, acquisitions & transition 16 6 22 11
Financing costs, net 45 41 85 86
Total operating expenses 3,161 2,207 6,137 4,205
INCOME (LOSS) BEFORE INCOME TAXES 811 2,131 2,371 4,058
Current income tax provision 460 576 1,185 1,219
Deferred income tax provision (benefit) (5) 296 33 446
NET INCOME 356 1,259 1,153 2,393
Preferred stock dividends 19 19 38 38
INCOME ATTRIBUTABLE TO COMMON STOCK $ 337 $ 1,240 $ 1,115 $ 2,355
NET INCOME PER COMMON SHARE:        
Basic $ 0.87 $ 3.23 $ 2.88 $ 6.14
Diluted $ 0.86 $ 3.17 $ 2.86 $ 6.03
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic 389 384 387 383
Diluted 390 397 403 397
DIVIDENDS DECLARED PER COMMON SHARE $ 0.17 $ 0.15 $ 0.34 $ 0.30