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STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES AND OTHER:        
Oil and gas production revenues $ 1,438 $ 1,976 $ 4,690 $ 5,645
Derivative instrument losses, net (2) (23) (40) (46)
Gain on divestitures 0 1 20 10
Other 41 29 45 50
Total revenues and other 1,477 1,983 4,715 5,659
OPERATING EXPENSES:        
Lease operating expenses 350 382 1,104 1,087
Gathering, processing, and transmission 66 92 230 260
Taxes other than income 44 58 141 162
Exploration 56 99 220 251
General and administrative 98 99 323 330
Transaction, reorganization, and separation 7 8 17 20
Depreciation, depletion, and amortization 711 610 1,959 1,771
Asset retirement obligation accretion 27 27 80 81
Impairments 9 10 249 10
Financing costs, net 95 192 365 385
Total operating expenses 1,463 1,577 4,688 4,357
NET INCOME BEFORE INCOME TAXES 14 406 27 1,302
Current income tax provision 141 262 514 709
Deferred income tax benefit (10) (17) (52) (43)
NET INCOME (LOSS) INCLUDING NONCONTROLLING INTERESTS (117) 161 (435) 636
Net income (loss) attributable to noncontrolling interest       215
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK $ (170) $ 81 $ (577) $ 421
NET INCOME (LOSS) PER COMMON SHARE:        
Basic (in USD per share) $ (0.45) $ 0.21 $ (1.53) $ 1.10
Diluted (in USD per share) $ (0.45) $ 0.21 $ (1.53) $ 1.09
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 377 383 377 383
Diluted (in shares) 377 385 377 385
Oil        
REVENUES AND OTHER:        
Oil and gas production revenues $ 1,207 $ 1,555 $ 3,914 $ 4,524
Natural Gas        
REVENUES AND OTHER:        
Oil and gas production revenues 136 241 490 675
Natural Gas liquids        
REVENUES AND OTHER:        
Oil and gas production revenues 95 180 286 446
Noncontrolling interests, Egypt        
OPERATING EXPENSES:        
Net income (loss) attributable to noncontrolling interest 38 80 125 215
Noncontrolling interests, Altus        
OPERATING EXPENSES:        
Net income (loss) attributable to noncontrolling interest (3) 0 (5) 0
Altus Preferred Unit limited partners        
OPERATING EXPENSES:        
Net income (loss) attributable to noncontrolling interest $ 18 $ 0 $ 22 $ 0