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BUSINESS SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Schedule of Financial Segment Information Financial information for each segment is presented below:
Egypt(1)
North SeaU.S.Altus Midstream
Intersegment
Eliminations
& Other
Total(4)
Upstream
For the Quarter Ended June 30, 2022
(In millions)
Revenues:
Oil revenues$902 $307 $654 $— $— $1,863 
Natural gas revenues88 64 281 — — 433 
Natural gas liquids revenues3 12 214 — — 229 
Oil, natural gas, and natural gas liquids production revenues993 383 1,149 — — 2,525 
Purchased oil and gas sales— — 522 — — 522 
993 383 1,671 — — 3,047 
Operating Expenses:
Lease operating expenses131 118 110 — — 359 
Gathering, processing, and transmission5 12 77 — — 94 
Purchased oil and gas costs— — 528 — — 528 
Taxes other than income— — 78 — — 78 
Exploration12 2 1 — — 15 
Depreciation, depletion, and amortization91 54 133 — — 278 
Asset retirement obligation accretion— 20 9 — — 29 
239 206 936 — — 1,381 
Operating Income (Loss)(2)
$754 $177 $735 $— $— 1,666 
Other Income (Expense):
Derivative instrument losses, net(32)
Loss on divestitures, net(27)
Other, net64 
General and administrative(83)
Transaction, reorganization, and separation(3)
Financing costs, net(62)
Income Before Income Taxes$1,523 

Egypt(1)
North SeaU.S.Altus Midstream
Intersegment
Eliminations
& Other
Total(4)
Upstream
For the Six Months Ended June 30, 2022
(In millions)
Revenues:
Oil revenues$1,692 $635 $1,253 $— $— $3,580 
Natural gas revenues186 163 464 — — 813 
Natural gas liquids revenues6 28 421 — (3)452 
Oil, natural gas, and natural gas liquids production revenues1,884 826 2,138 — (3)4,845 
Purchased oil and gas sales— — 866 5 — 871 
Midstream service affiliate revenues— — — 16 (16)— 
1,884 826 3,004 21 (19)5,716 
Operating Expenses:
Lease operating expenses262 214 228 — (1)703 
Gathering, processing, and transmission10 24 154 5 (18)175 
Purchased oil and gas costs— — 879 — — 879 
Taxes other than income— — 145 3 — 148 
Exploration27 7 5 — 1 40 
Depreciation, depletion, and amortization188 116 263 2 — 569 
Asset retirement obligation accretion— 40 17 1 — 58 
487 401 1,691 11 (18)2,572 
Operating Income (Loss)(2)
$1,397 $425 $1,313 $10 $(1)3,144 
Other Income (Expense):
Derivative instrument losses, net(94)
Gain on divestitures, net1,149 
Other, net109 
General and administrative(234)
Transaction, reorganization, and separation(17)
Financing costs, net(202)
Income Before Income Taxes$3,855 
Total Assets(3)
$3,107 $2,103 $8,629 $— $— $13,839 
Egypt(1)
North SeaU.S.Altus Midstream
Intersegment
Eliminations
& Other
Total(4)
Upstream
For the Quarter Ended June 30, 2021
(In millions)
Revenues:
Oil revenues$432 $216 $493 $— $— $1,141 
Natural gas revenues65 27 134 — — 226 
Natural gas liquids revenues2 4 141 — — 147 
Oil, natural gas, and natural gas liquids production revenues499 247 768 — — 1,514 
Purchased oil and gas sales— — 239 3 — 242 
Midstream service revenues— — — 32 (32)— 
499 247 1,007 35 (32)1,756 
Operating Expenses:
Lease operating expenses114 98 99 — — 311 
Gathering, processing, and transmission3 8 74 8 (32)61 
Purchased oil and gas costs— — 259 3 — 262 
Taxes other than income— — 47 4 — 51 
Exploration14 3 2 — — 19 
Depreciation, depletion, and amortization137 63 148 3 — 351 
Asset retirement obligation accretion— 20 7 1 — 28 
268 192 636 19 (32)1,083 
Operating Income (Loss)(2)
$231 $55 $371 $16 $— 673 
Other Income (Expense):
Derivative instrument losses, net(113)
Gain on divestitures, net65 
Other, net74 
General and administrative(79)
Transaction, reorganization, and separation(4)
Financing costs, net(94)
Income Before Income Taxes$522 

Egypt(1)
North SeaU.S.Altus Midstream
Intersegment
Eliminations
& Other
Total(4)
Upstream
For the Six Months Ended June 30, 2021
(In millions)
Revenues:
Oil revenues$834 $457 $841 $— $— $2,132 
Natural gas revenues135 58 345 — — 538 
Natural gas liquids revenues4 10 261 — — 275 
Oil, natural gas, and natural gas liquids production revenues973 525 1,447 — — 2,945 
Purchased oil and gas sales— — 676 6 — 682 
Midstream service affiliate revenues— — — 64 (64)— 
973 525 2,123 70 (64)3,627 
Operating Expenses:
Lease operating expenses218 173 185 — (1)575 
Gathering, processing, and transmission4 20 143 15 (63)119 
Purchased oil and gas costs— — 751 5 — 756 
Taxes other than income— — 87 8 — 95 
Exploration22 23 18 — 2 65 
Depreciation, depletion, and amortization267 147 273 6 — 693 
Asset retirement obligation accretion— 39 15 2 — 56 
511 402 1,472 36 (62)2,359 
Operating Income (Loss)(2)
$462 $123 $651 $34 $(2)1,268 
Other Income (Expense):
Derivative instrument gains, net45 
Gain on divestitures, net67 
Other, net135 
General and administrative(162)
Transaction, reorganization, and separation(4)
Financing costs, net(201)
Income Before Income Taxes$1,148 
Total Assets(3)
$3,116 $2,127 $7,305 $1,839 $1 $14,388 
(1)    Includes revenue from non-customers for the quarters and six months ended June 30, 2022 and 2021 of:
For the Quarter Ended June 30,
For the Six Months Ended June 30,
 2022202120222021
(In millions)
Oil$302 $97 $552 $190 
Natural gas30 10 61 22 
Natural gas liquids1 — 2 1 
(2)Operating income of U.S. and Egypt includes leasehold impairments of $1 million and $1 million, respectively, for the second quarter of 2022. Operating income of U.S. and Egypt includes leasehold impairments of $4 million and $2 million, respectively, for the first six months of 2022. Operating income of U.S. and Egypt includes leasehold and other asset impairments of $1 million and $2 million, respectively, for the second quarter of 2021. Operating income of U.S. and Egypt includes leasehold impairments of $17 million and $4 million, respectively, for the first six months of 2021.
(3)Intercompany balances are excluded from total assets.
(4)Includes noncontrolling interests of Sinopec, Altus prior to deconsolidation, and APA.