BUSINESS SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Financial Segment Information

	Egypt(1)		North Sea		U.S.		Altus Midstream		Intersegment Eliminations & Other		Total(2)
	Upstream
	(In millions)
2023
Oil revenues	$	2,683	$	1,073	$	2,003	$	—	$	—	$	5,759
Natural gas revenues	346		237		277		—		—		860
Natural gas liquids revenues	—		28		432		—		—		460
Oil, natural gas, and natural gas liquids production revenues	3,029		1,338		2,712		—		—		7,079
Purchased oil and gas sales	—		—		894		—		—		894
	3,029		1,338		3,606		—		—		7,973
Operating Expenses:
Lease operating expenses	474		369		554		—		—		1,397
Gathering, processing, and transmission	33		52		229		—		—		314
Purchased oil and gas costs	—		—		742		—		—		742
Taxes other than income	—		—		192		—		—		192
Exploration	119		19		14		—		1		153
Depreciation, depletion, and amortization	524		271		604		—		—		1,399
Asset retirement obligation accretion	—		76		40		—		—		116
Impairments	—		50		11		—		—		61
	1,150		837		2,386		—		1		4,374
Operating Income (Loss)	$	1,879	$	501	$	1,220	$	—	$	(1)	3,599
Other Income (Expense):
Gain on divestitures, net											8
Losses on previously sold Gulf of Mexico properties											(212)
Other											26
General and administrative											(325)
Transaction, reorganization, and separation											(15)
Financing costs, net											(165)
Income Before Income Taxes											$	2,916
Total Assets(3)	$	3,503	$	1,970	$	11,471	$	—	$	—	$	16,944
Net Property and Equipment	$	2,209	$	1,628	$	4,887	$	—	$	—	$	8,724
Additions to Net Property and Equipment	$	834	$	131	$	946	$	—	$	—	$	1,911

	Egypt(1)		North Sea		U.S.		Altus Midstream		Intersegment Eliminations & Other		Total(2)
	Upstream
	(In millions)
2022
Oil revenues	$	3,145	$	1,232	$	2,323	$	—	$	—	$	6,700
Natural gas revenues	370		281		894		—		—		1,545
Natural gas liquids revenues	6		45		735		—		(3)		783
Oil, natural gas, and natural gas liquids production revenues	3,521		1,558		3,952		—		(3)		9,028
Purchased oil and gas sales	—		—		1,850		5		—		1,855
Midstream service affiliate revenues	—		—		—		16		(16)		—
	3,521		1,558		5,802		21		(19)		10,883
Operating Expenses:
Lease operating expenses	526		404		506		—		(1)		1,435
Gathering, processing, and transmission	22		43		304		5		(18)		356
Purchased oil and gas costs	—		—		1,776		—		—		1,776
Taxes other than income	—		—		253		3		—		256
Exploration	84		35		24		—		3		146
Depreciation, depletion, and amortization	400		238		537		2		—		1,177
Asset retirement obligation accretion	—		82		34		1		—		117
	1,032		802		3,434		11		(16)		5,263
Operating Income (Loss)	$	2,489	$	756	$	2,368	$	10	$	(3)	5,620
Other Income (Expense):
Gain on divestitures, net											1,180
Losses on previously sold Gulf of Mexico properties											(157)
Derivative instrument losses, net											(107)
Other											139
General and administrative											(462)
Transaction, reorganization, and separation											(26)
Financing costs, net											(313)
Income Before Income Taxes											$	5,874
Total Assets(3)	$	3,148	$	1,911	$	9,196	$	—	$	—	$	14,255
Net Property and Equipment	$	1,976	$	1,386	$	4,595	$	—	$	—	$	7,957
Additions to Net Property and Equipment	$	695	$	210	$	752	$	—	$	—	$	1,657

	Egypt(1)		North Sea		U.S.		Altus Midstream		Intersegment Eliminations & Other		Total(2)
	Upstream
	(In millions)
2021
Oil revenues	$	1,806	$	929	$	1,850	$	—	$	—	$	4,585
Natural gas revenues	270		183		754		—		—		1,207
Natural gas liquids revenues	9		24		676		—		(3)		706
Oil, natural gas, and natural gas liquids production revenues	2,085		1,136		3,280		—		(3)		6,498
Purchased oil and gas sales	—		—		1,476		11		—		1,487
Midstream service affiliate revenues	—		—		—		127		(127)		—
	2,085		1,136		4,756		138		(130)		7,985
Operating Expenses:
Lease operating expenses	469		383		391		—		(2)		1,241
Gathering, processing, and transmission	12		39		309		32		(128)		264
Purchased oil and gas costs	—		—		1,575		5		—		1,580
Taxes other than income	—		—		190		14		—		204
Exploration	63		34		28		—		2		127
Depreciation, depletion, and amortization	524		270		554		12		—		1,360
Asset retirement obligation accretion	—		79		30		4		—		113
Impairments	26		22		—		160		—		208
	1,094		827		3,077		227		(128)		5,097
Operating Income (Loss)	$	991	$	309	$	1,679	$	(89)	$	(2)	2,888
Other Income (Expense):
Gain on divestitures, net											67
Losses on previously sold Gulf of Mexico properties											(446)
Derivative instrument gains, net											94
Other											228
General and administrative											(357)
Transaction, reorganization, and separation											(22)
Financing costs, net											(472)
Income Before Income Taxes											$	1,980
Total Assets(3)	$	2,796	$	2,199	$	7,700	$	1,698	$	—	$	14,393
Net Property and Equipment	$	1,720	$	1,646	$	4,507	$	187	$	—	$	8,060
Additions to Net Property and Equipment	$	319	$	159	$	523	$	3	$	—	$	1,004

(1)Includes oil and gas production revenue that will be paid as taxes by EGPC on behalf of the Company for the years ended December 31, 2023, 2022, and 2021 of:

	For the Year Ended December 31,
	2023		2022		2021
	(In millions)
Oil	$	729	$	989	$	420
Natural gas	95		117		47
Natural gas liquids	—		2		2

(2)Includes noncontrolling interests in Egypt for all periods presented and a noncontrolling interest in Altus Midstream for the years 2022 and 2021.

(3)Intercompany balances are excluded from total assets.