v3.25.1
Condensed Consolidated Statements of Operations (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUES    
Oil, natural gas and natural gas liquids sales $ 814 $ 429
Net gain (loss) from commodity derivatives 6 (71)
Total operating revenues 912 454
OPERATING EXPENSES    
Operating costs 316 176
General and administrative expenses 72 57
Depreciation, depletion and amortization 131 53
Taxes other than on income 70 38
Accretion expense 29 12
Net (gain) loss on natural gas purchase derivatives (6) 1
Measurement period adjustments 1 0
Other operating expenses, net 33 45
Total operating expenses 726 464
Gain on asset divestitures 0 6
OPERATING INCOME (LOSS) 186 (4)
NON-OPERATING (EXPENSES) INCOME    
Interest and debt expense (27) (13)
Loss on early extinguishment of debt (1) 0
Loss from investment in unconsolidated subsidiaries (1) (3)
Other non-operating income 5 1
(LOSS) INCOME BEFORE INCOME TAXES 162 (19)
Income tax (provision) benefit (47) 9
NET INCOME (LOSS) $ 115 $ (10)
Net income (loss) per share    
Basic (in dollars per share) $ 1.27 $ (0.14)
Diluted (in dollars per share) $ 1.26 $ (0.14)
Weighted-average common shares outstanding    
Basic (in shares) 90.6 69.0
Diluted (in shares) 91.2 69.0
Revenue from marketing of purchased commodities    
REVENUES    
Other revenue $ 64 $ 74
OPERATING EXPENSES    
Costs of sales 50 54
Electricity revenue    
REVENUES    
Other revenue 22 15
Interest and other revenue    
REVENUES    
Other revenue 6 7
Electricity generation expenses    
OPERATING EXPENSES    
Costs of sales 10 8
Transportation costs    
OPERATING EXPENSES    
Costs of sales $ 20 $ 20