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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
OPERATING REVENUES        
Operating revenues $ 2,638 $ 412 $ 4,708 $ 885
Loss on derivative instruments (66) (88) (457) (101)
Total operating revenues 2,572 324 4,251 784
OPERATING EXPENSES        
Direct operations 116 16 216 33
Transportation, processing and gathering 238 133 471 270
Taxes other than income 98 4 174 9
Exploration 7 2 13 5
Depreciation, depletion and amortization 414 92 774 186
General and administrative 87 23 194 52
Total operating expenses 960 270 1,842 555
Loss on sale of assets (3) 0 (1) 0
INCOME FROM OPERATIONS 1,609 54 2,408 229
Interest expense, net 21 13 42 25
Income before income taxes 1,588 41 2,366 204
Income tax expense 359 11 529 48
NET INCOME $ 1,229 $ 30 $ 1,837 $ 156
Earnings per share        
Basic (in dollars per share) $ 1.53 $ 0.08 $ 2.28 $ 0.39
Diluted (in dollars per share) $ 1.52 $ 0.08 $ 2.27 $ 0.39
Weighted-average common shares outstanding        
Basic (in shares) 803 400 806 399
Weighted-average shares - diluted (in shares) 808 403 809 402
Natural gas        
OPERATING REVENUES        
Operating revenues $ 1,468 $ 412 $ 2,579 $ 885
Oil        
OPERATING REVENUES        
Operating revenues 876 0 1,575 0
NGL        
OPERATING REVENUES        
Operating revenues 280 0 525 0
Other        
OPERATING REVENUES        
Operating revenues $ 14 $ 0 $ 29 $ 0