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STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES AND OTHER:        
Oil and gas production revenues $ 1,936 $ 1,346 $ 3,669 $ 2,858
Gain (loss) on divestitures 2 (21) 9 320
Other (9) 59 (2) 84
Revenues 1,929 1,384 3,676 3,262
OPERATING EXPENSES:        
Lease operating expenses 356 372 705 708
Gathering, transmission, and processing 82 48 168 105
Taxes other than income 49 29 104 71
Exploration 76 108 152 200
General and administrative 117 106 231 209
Transaction, reorganization, and separation 12 4 12 (6)
Depreciation, depletion and amortization     1,161 1,148
Asset retirement obligation accretion 27 37 54 73
Impairments 0 0 0 8
Financing costs, net 94 99 193 199
Total operating expenses 1,421 1,375 2,780 2,715
NET INCOME BEFORE INCOME TAXES 508 9 896 547
Current income tax provision 249 126 447 314
Deferred income tax benefit (10) (730) (26) (647)
NET INCOME INCLUDING NONCONTROLLING INTEREST 269 613 475 880
Net income attributable to noncontrolling interest 74 41 135 95
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK $ 195 $ 572 $ 340 $ 785
NET INCOME PER COMMON SHARE:        
Basic (in USD per share) $ 0.51 $ 1.50 $ 0.89 $ 2.06
Diluted (in USD per share) $ 0.51 $ 1.50 $ 0.88 $ 2.05
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 382 381 382 380
Diluted (in shares) 385 383 384 383
DIVIDENDS DECLARED PER COMMON SHARE (in USD per share) $ 0.25 $ 0.25 $ 0.50 $ 0.5
Oil and gas property and equipment        
OPERATING EXPENSES:        
Depreciation, depletion and amortization $ 573 $ 536 $ 1,091 $ 1,074
Other assets        
OPERATING EXPENSES:        
Depreciation, depletion and amortization 35 36 70 74
Oil        
REVENUES AND OTHER:        
Oil and gas production revenues 1,576 1,050 2,969 2,222
Natural Gas        
REVENUES AND OTHER:        
Oil and gas production revenues 212 233 434 488
Natural gas liquids        
REVENUES AND OTHER:        
Oil and gas production revenues $ 148 $ 63 $ 266 $ 148