v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating net revenues:    
Total operating net revenues $ 1,194 $ 1,329
Operating expenses:    
Lease operating expense 174 131
Severance and ad valorem taxes 89 102
Exploration 3 11
Depreciation, depletion, and amortization 445 467
Transaction costs 6 23
General and administrative expense 57 58
Other operating expense 4 7
Total operating expenses 879 902
Other income (expense):    
Derivative gain (loss), net 52 (110)
Interest expense (107) (110)
Other, net (13) 4
Total other income (expense) (68) (216)
Income from operations before income taxes 247 211
Income tax expense (61) (35)
Net income, basic 186 176
Net income, diluted $ 186 $ 176
Earnings per common share:    
Basic (in dollars per share) $ 1.99 $ 1.75
Diluted (in dollars per share) $ 1.99 $ 1.74
Weighted-average common shares outstanding:    
Basic (in shares) 93,474,523 100,545,589
Diluted (in shares) 93,620,495 101,293,188
Crude oil, natural gas, and NGL sales    
Operating net revenues:    
Total operating net revenues $ 1,192 $ 1,328
Midstream operating expense    
Operating net revenues:    
Total operating net revenues 2 1
Operating expenses:    
Operating expense 14 14
Gathering, transportation, and processing    
Operating expenses:    
Operating expense $ 87 $ 89