v3.25.2
SUPPLEMENTAL ACCOUNT BALANCES (Tables)
 6 Months Ended
Jun. 30, 2025
SUPPLEMENTAL INFORMATION [Abstract]  
Schedule of Disaggregated Revenue The following table provides disaggregated revenue for sales of produced oil, natural gas and natural gas liquids to customers:
Three months ended June 30,Six months ended June 30,
2025202420252024
(in millions)(in millions)
Oil$644 $353 $1,380 $701 
Natural gas19 14 47 46 
Natural gas liquids
39 45 89 94 
Oil, natural gas and natural gas liquids sales
$702 $412 $1,516 $841 
The following table provides disaggregated revenue for sales to customers related to our marketing activities:
Three months ended June 30,Six months ended June 30,
2025202420252024
(in millions)(in millions)
Oil$24 $28 $46 $48 
Natural gas32 23 68 71 
Natural gas liquids— — 6 6 
Revenue from marketing of purchased commodities
$56 $51 $120 $125 
Schedule of Inventories Inventories, by category, are as follows:
June 30,December 31,
20252024
(in millions)
Materials and supplies$90 $86 
Finished goods3 4 
Inventories$93 $90 
Schedule of Other Current Assets, Net Other current assets, net include the following:
June 30,December 31,
20252024
(in millions)
Net amounts due from joint interest partners(a)
$42 $41 
Fair value of commodity derivative contracts102 14 
Prepaid expenses25 28 
Greenhouse gas allowances9 27 
Income tax receivable22 50 
Other27 16 
Other current assets, net$227 $176 
(a)The amounts due from joint interest partners include insignificant amounts of allowances for credit losses for each period presented.
Schedule of Other Noncurrent Assets Other noncurrent assets include the following:
June 30,December 31,
20252024
(in millions)
Operating lease right-of-use assets$93 $105 
Deferred financing costs - Revolving Credit Facility22 23 
Emission reduction credits 11 11 
Fair value of commodity derivative contracts50 16 
Funded pension
67 67 
Postretirement plan
13 13 
Other
42 37 
Other noncurrent assets$298 $272 
Schedule of Accrued Liabilities Accrued liabilities include the following:
June 30,December 31,
20252024
(in millions)
Compensation-related liabilities$88 $177 
Taxes other than on income86 100 
Asset retirement obligations - current portion
134 134 
Operating lease liability22 15 
Fair value of derivative contracts7 50 
Premiums due on commodity derivative contracts17 14 
Withholding tax on IKAV stock repurchase (Note 10 Stockholders' Equity)
34 — 
Advanced payments
17 25 
Payable to the former owners of Aera
9 29 
Other63 67 
 Accrued liabilities$477 $611 
Schedule of Other Long-term Liabilities Other long-term liabilities include the following:
June 30,December 31,
20252024
(in millions)
Compensation-related liabilities$39 $50 
Postretirement and pension benefit plans55 59 
Operating lease liability60 76 
Fair value of commodity derivative contracts
14 45 
Contingent liability (Note 3 Investments and Related Party Transactions)
112 107 
Other55 40 
Other long-term liabilities$335 $377