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STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES AND OTHER:        
Derivative instrument losses, net $ (175) $ (8) $ (278) $ (38)
Gain on divestitures, net 0 17 25 20
Other, net 19 (7) 32 (1)
Total revenues and other 596 1,618 1,875 3,275
OPERATING EXPENSES:        
Lease operating expenses 264 389 599 754
Taxes other than income 23 46 56 97
Exploration 72 95 129 164
General and administrative 94 102 162 225
Transaction, reorganization, and separation 10 6 37 10
Depreciation, depletion, and amortization 418 602 984 1,248
Asset retirement obligation accretion 27 26 54 53
Impairments 20 240 4,492 240
Financing costs, net (34) 173 69 270
Total operating expenses 1,012 1,770 6,857 3,262
NET INCOME (LOSS) BEFORE INCOME TAXES (416) (152) (4,982) 13
Current income tax provision (benefit) (27) 187 62 373
Deferred income tax benefit (11) (23) (44) (42)
NET LOSS INCLUDING NONCONTROLLING INTERESTS (378) (316) (5,000) (318)
NET LOSS ATTRIBUTABLE TO COMMON STOCK $ (386) $ (360) $ (4,866) $ (407)
NET LOSS PER COMMON SHARE:        
Basic (in USD per share) $ (1.02) $ (0.96) $ (12.88) $ (1.08)
Diluted (in USD per share) $ (1.02) $ (0.96) $ (12.88) $ (1.08)
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 378 377 378 376
Diluted (in shares) 378 377 378 376
Altus Preferred Unit limited partners        
OPERATING EXPENSES:        
Net income (loss) attributable to noncontrolling interest $ 19 $ 4 $ 37 $ 4
Noncontrolling interests, Egypt        
OPERATING EXPENSES:        
Net income (loss) attributable to noncontrolling interest (11) 43 (162) 87
Noncontrolling interests, Altus        
OPERATING EXPENSES:        
Net income (loss) attributable to noncontrolling interest 0 (3) (9) (2)
Oil and gas        
REVENUES AND OTHER:        
Oil and gas production revenues 752 1,616 2,096 3,294
Oil and gas, excluding purchased        
REVENUES AND OTHER:        
Oil and gas production revenues 697 1,598 1,933 3,252
OPERATING EXPENSES:        
Cost of oil and gas purchased 72 76 143 164
Oil and gas, purchased        
REVENUES AND OTHER:        
Oil and gas production revenues 55 18 163 42
OPERATING EXPENSES:        
Cost of oil and gas purchased $ 46 $ 15 $ 132 $ 37