v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 72 $ 372
Trade receivables 297 330
Inventories 93 90
Assets held for sale 8 10
Receivable from affiliate 31 46
Other current assets, net 227 176
Total current assets 728 1,024
PROPERTY, PLANT AND EQUIPMENT 6,874 6,738
Accumulated depreciation, depletion and amortization (1,314) (1,058)
Total property, plant and equipment, net 5,560 5,680
INVESTMENT IN UNCONSOLIDATED SUBSIDIARY 93 86
DEFERRED INCOME TAXES 33 73
OTHER NONCURRENT ASSETS 298 272
TOTAL ASSETS 6,712 7,135
CURRENT LIABILITIES    
Current portion of long-term debt 122 0
Accounts payable 329 369
Accrued liabilities 477 611
Total current liabilities 928 980
NONCURRENT LIABILITIES    
Long-term debt, net 888 1,132
Asset retirement obligations 969 995
Deferred tax liabilities 185 113
Other long-term liabilities 335 377
STOCKHOLDERS' EQUITY    
Preferred stock (20,000,000 shares authorized at $0.01 par value) no shares outstanding at June 30, 2025 and December 31, 2024 0 0
Common stock (200,000,000 shares authorized at $0.01 par value) (105,031,217 and 109,613,585 shares issued; 83,679,985 and 91,100,322 shares outstanding at June 30, 2025 and December 31, 2024) 1 1
Treasury stock (21,351,232 shares held at cost at June 30, 2025 and 18,513,263 shares held at cost at December 31, 2024) (922) (796)
Additional paid-in capital 2,359 2,578
Retained earnings 1,897 1,680
Accumulated other comprehensive income 72 75
Total stockholders' equity 3,407 3,538
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,712 $ 7,135