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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating Revenues:        
Total operating revenues $ 1,083 $ 1,269 $ 2,500 $ 3,387
Operating Costs and Expenses:        
Marketing purchases 433 481 1,021 1,148
Operating expenses 403 418 820 836
General and administrative expenses 45 41 101 87
Merger-related expenses 10 0 19 0
Depreciation, depletion and amortization 226 328 488 641
Impairments 631 0 2,724 0
Taxes, other than income taxes 44 58 93 126
Total operating costs and expense 1,792 1,326 5,266 2,838
Operating Income (Loss) (709) (57) (2,766) 549
Interest Expense:        
Interest on debt 61 60 120 123
Other interest charges 2 3 5 6
Interest capitalized (26) (29) (53) (59)
Total interest expense 37 34 72 70
Gain (Loss) on Derivatives (35) 317 91 1,718
Loss on Early Extinguishment of Debt 0 0 0 (19)
Other Loss, Net (3) 0 (2) (1)
Income (Loss) Before Income Taxes (784) 226 (2,749) 2,177
Provision (Benefit) for Income Taxes:        
Current 0 0 0 0
Deferred (176) (5) (606) 7
Total provision (benefit) from income taxes (176) (5) (606) 7
Net Income (Loss) $ (608) $ 231 $ (2,143) $ 2,170
Earnings (Loss) Per Common Share:        
Basic (in dollars per share) $ (0.55) $ 0.21 $ (1.94) $ 1.97
Diluted (in dollars per share) $ (0.55) $ 0.21 $ (1.94) $ 1.97
Weighted Average Common Shares Outstanding:        
Basic (in shares) 1,102,737,261 1,101,167,082 1,102,281,059 1,100,725,127
Diluted (in shares) 1,102,737,261 1,102,724,782 1,102,281,059 1,102,487,313
Gas sales        
Operating Revenues:        
Total operating revenues $ 411 $ 551 $ 995 $ 1,696
Oil sales        
Operating Revenues:        
Total operating revenues 90 92 172 187
NGL sales        
Operating Revenues:        
Total operating revenues 158 153 332 354
Marketing        
Operating Revenues:        
Total operating revenues 424 475 1,003 1,154
Other        
Operating Revenues:        
Total operating revenues $ 0 $ (2) $ (2) $ (4)