v3.25.2
Condensed Consolidated Statements of Operations (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES        
Oil, natural gas and natural gas liquids sales $ 702 $ 412 $ 1,516 $ 841
Net gain (loss) from commodity derivatives 157 5 163 (66)
Total operating revenues 978 514 1,890 968
OPERATING EXPENSES        
Operating costs 295 156 611 332
General and administrative expenses 79 63 151 120
Depreciation, depletion and amortization 128 53 259 106
Asset impairment 0 13 0 13
Taxes other than on income 47 39 117 77
Accretion expense 28 13 57 25
Net loss (gain) on natural gas purchase derivatives 3 1 (3) 2
Measurement period adjustments, net 0 0 1 0
Other operating expenses, net 65 65 98 110
Total operating expenses 711 477 1,437 941
Gain on asset divestitures 0 1 0 7
OPERATING INCOME 267 38 453 34
NON-OPERATING (EXPENSES) INCOME        
Interest and debt expense, net (25) (17) (52) (30)
Loss on early extinguishment of debt 0 0 (1) 0
Loss from investment in unconsolidated subsidiaries 0 (4) (1) (7)
Other non-operating (expense) income, net 0 (6) 5 (5)
INCOME (LOSS) BEFORE INCOME TAXES 242 11 404 (8)
Income tax (provision) benefit (70) (3) (117) 6
NET INCOME (LOSS) $ 172 $ 8 $ 287 $ (2)
Net income (loss) per share        
Basic (in dollars per share) $ 1.93 $ 0.12 $ 3.20 $ (0.03)
Diluted (in dollars per share) $ 1.92 $ 0.11 $ 3.18 $ (0.03)
Weighted-average common shares outstanding        
Basic (in shares) 89.0 68.1 89.8 68.6
Diluted (in shares) 89.4 70.0 90.3 68.6
Revenue from marketing of purchased commodities        
REVENUES        
Other revenue $ 56 $ 51 $ 120 $ 125
OPERATING EXPENSES        
Costs of sales 41 43 91 97
Electricity revenue        
REVENUES        
Other revenue 58 36 80 51
Other revenue        
REVENUES        
Other revenue 5 10 11 17
Electricity generation expenses        
OPERATING EXPENSES        
Costs of sales 5 14 15 22
Transportation costs        
OPERATING EXPENSES        
Costs of sales $ 20 $ 17 $ 40 $ 37