XML 12 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES AND OTHER:        
Oil and gas production revenues $ 1,976 $ 1,389 $ 5,645 $ 4,247
Derivative instrument gains (losses), net (23) (110) (46) (69)
Gain on divestitures 1 296 10 616
Other 29 0 50 43
Revenues 1,983 1,575 5,659 4,837
OPERATING EXPENSES:        
Lease operating expenses 382 353 1,087 1,059
Gathering, transmission, and processing 92 44 260 151
Taxes other than income 58 46 162 117
Exploration 99 231 251 431
General and administrative 99 98 330 307
Transaction, reorganization, and separation 8 20 20 14
Depreciation, depletion and amortization     1,771 1,707
Asset retirement obligation accretion 27 30 81 103
Impairments 10 0 10 8
Financing costs, net 192 101 385 300
Total operating expenses 1,577 1,482 4,357 4,197
NET INCOME BEFORE INCOME TAXES 406 93 1,302 640
Current income tax provision 262 99 709 413
Deferred income tax benefit (17) (111) (43) (758)
NET INCOME INCLUDING NONCONTROLLING INTEREST 161 105 636 985
Net income attributable to noncontrolling interest 80 42 215 137
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK $ 81 $ 63 $ 421 $ 848
NET INCOME PER COMMON SHARE:        
Basic (in USD per share) $ 0.21 $ 0.16 $ 1.10 $ 2.23
Diluted (in USD per share) $ 0.21 $ 0.16 $ 1.09 $ 2.22
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 383 381 383 381
Diluted (in shares) 385 383 385 383
DIVIDENDS DECLARED PER COMMON SHARE (in USD per share) $ 0.25 $ 0.25 $ 0.75 $ 0.75
Oil and gas property and equipment        
OPERATING EXPENSES:        
Depreciation, depletion and amortization $ 575 $ 524 $ 1,666 $ 1,598
Other assets        
OPERATING EXPENSES:        
Depreciation, depletion and amortization 35 35 105 109
Oil        
REVENUES AND OTHER:        
Oil and gas production revenues 1,555 1,070 4,524 3,292
Natural Gas        
REVENUES AND OTHER:        
Oil and gas production revenues 241 238 675 726
Natural gas liquids        
REVENUES AND OTHER:        
Oil and gas production revenues $ 180 $ 81 $ 446 $ 229