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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
REVENUES        
Sales and other operating revenues $ 2,904,791 $ 2,655,356 [1] $ 8,276,488 $ 7,979,649 [1]
Loss on sale of assets (34) (120) [1] (320) (69) [1]
Interest and other income (expense) 53,100 (8,508) [1] 61,722 5,407 [1]
Total revenues 2,957,857 2,646,728 [1] 8,337,890 [1] 7,984,987 [1]
COSTS AND EXPENSES        
Crude oil and product purchases 1,459,649 1,445,983 [1] 4,039,634 4,358,893 [1]
Operating expenses 355,004 340,813 [1] 1,134,710 1,009,663 [1]
Exploration expenses, including undeveloped lease amortization 147,845 94,063 [1] 345,110 243,714 [1]
Selling and general expenses 106,102 66,143 [1] 285,108 197,008 [1]
Depreciation, depletion and amortization 406,565 311,255 [1] 1,174,500 916,937 [1]
Impairment of properties 0 0 [1] 21,587 0 [1]
Accretion of asset retirement obligations 12,539 9,760 [1] 36,396 28,316 [1]
Interest expense 33,535 12,941 [1] 90,156 36,278 [1]
Interest capitalized (13,011) (11,461) [1] (40,877) (27,360) [1]
Total costs and expenses 2,508,228 2,269,497 [1] 7,086,324 6,763,449 [1]
Income from continuing operations before income taxes 449,629 377,231 [1] 1,251,566 1,221,538 [1]
Income tax expense 197,514 165,551 [1] 566,646 503,252 [1]
Income from continuing operations 252,115 211,680 [1] 684,920 718,286 [1]
Income from discontinued operations, net of taxes 32,694 15,001 [1] 363,132 93,903 [1]
NET INCOME $ 284,809 $ 226,681 [1] $ 1,048,052 [1] $ 812,189 [1]
INCOME PER COMMON SHARE - BASIC        
Income from continuing operations $ 1.35 $ 1.09 [1] $ 3.63 $ 3.70 [1]
Income from discontinued operations $ 0.17 $ 0.08 [1] $ 1.92 $ 0.48 [1]
Net income $ 1.52 $ 1.17 [1] $ 5.55 $ 4.18 [1]
INCOME PER COMMON SHARE - DILUTED        
Income from continuing operations $ 1.34 $ 1.08 [1] $ 3.60 $ 3.69 [1]
Income from discontinued operations $ 0.17 $ 0.08 [1] $ 1.91 $ 0.48 [1]
Net income $ 1.51 $ 1.16 [1] $ 5.51 $ 4.17 [1]
Average common shares outstanding        
Basic 186,938,328 194,290,277 [1] 188,914,000 194,126,104 [1]
Diluted 188,337,511 195,057,952 [1] 190,245,166 194,874,572 [1]
[1] Reclassified to conform to current presentation.