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Consolidated Statements of Operations (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues    
Oil, Gas and NGL Sales $ 705 $ 749
Income from Equity Method Investees 19 18
Total 724 [1] 767
Costs and Expenses    
Production Expense 272 254
Exploration Expense 163 65
Depreciation, Depletion and Amortization 617 454
General and Administrative 91 94
Other Operating (Income) Expense, Net 3 34
Total 1,146 901
Operating Loss (422) (134)
Other (Income) Expense    
Gain on Commodity Derivative Instruments (44) (150)
Interest, Net of Amount Capitalized 79 57
Other Non-Operating (Income) Expense, Net (4) 1
Total 31 (92)
Loss Before Income Taxes (453) (42)
Income Tax Benefit (166) (20)
Net Loss $ (287) [1] $ (22)
Loss per share, basic (in dollars per share) $ (0.67) [1] $ (0.06)
Loss per share, diluted (in dollars per share) $ (0.67) [1] $ (0.06)
Weighted Average Number of Shares Outstanding    
Basic (in shares) [2] 429 370
Diluted (in shares) 429 370
[1] No pro forma adjustments were made for the period as the acquisition is included in the Company's historical results.
[2] The weighted average number of shares outstanding includes the weighted average shares of common stock issued in connection with the underwritten public offering of 24.15 million shares of Noble Energy common stock in first quarter 2015 and issued in connection with the exchange of approximately 41 million shares for all outstanding shares of Rosetta common stock on July 20, 2015.