v3.26.1
Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock- Based Compensation Expense Stock-based compensation expense is included on the Condensed Consolidated Statements of Income and Comprehensive Income based upon the job function of the employees receiving the grants as follows (in millions):
Three Months Ended
March 31,
20262025
Lease and Well$20 $17 
Gathering, Processing and Transportation Costs1 1 
Exploration Costs7 7 
General and Administrative30 25 
Total$58 $50 
Schedule of Restricted Stock and Restricted Stock Unit Transactions
The following table sets forth restricted stock and restricted stock unit transactions for the three-month periods ended March 31, 2026 and 2025 (shares and units in thousands):

Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Number of Shares and UnitsWeighted Average Grant Date Fair ValueNumber of Shares and UnitsWeighted Average Grant Date Fair Value
Outstanding at January 15,281 $122.73 4,699 $122.64 
Granted136 118.24 41 121.85 
Released (1)
(59)124.72 (39)116.64 
Forfeited(37)121.49 (36)123.02 
Outstanding at March 31 (2)
5,321 $122.60 4,665 $122.67 
(1)The total intrinsic value of restricted stock and restricted stock units released during the three months ended March 31, 2026 and 2025, was $7 million and $5 million, respectively. The intrinsic value is based upon the closing price of the Common Stock on the date the restricted stock and restricted stock units are released.
(2)The total intrinsic value of restricted stock and restricted stock units outstanding at March 31, 2026 and 2025, was $769 million and $598 million, respectively.
Schedule of Performance Unit and Performance Stock Transactions
The following table sets forth the Performance Unit transactions for the three-month periods ended March 31, 2026 and 2025 (units in thousands):

Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Number of UnitsWeighted Average Grant Date Fair ValueNumber of UnitsWeighted Average Grant Date Fair Value
Outstanding at January 1493 $129.87 559 $119.05 
Granted2 106.57 8 134.49 
Granted for Performance Multiple (1)
— — 54 96.61 
Released (2)
(122)126.55 (267)96.61 
Outstanding at March 31 (3)
373 (4)$131.66 354 $132.97 
(1)Upon completion of the Performance Period for the Performance Units granted in 2022, a performance multiple of 0% was applied to each of the grants resulting in no additional grants of Performance Units in February 2026. Upon completion of the Performance Period for the Performance Units granted in 2021, a performance multiple of 125% was applied to each of the grants resulting in additional grants of Performance Units in February 2025.
(2)The total intrinsic value of Performance Units released was $15 million and $34 million for the three months ended March 31, 2026 and 2025, respectively. The intrinsic value is based upon the closing price of the Common Stock on the date the Performance Units are released.
(3)The total intrinsic value of Performance Units outstanding at March 31, 2026 and 2025, was $54 million and $45 million, respectively.
(4)Upon the application of the relevant performance multiple at the completion of each of the remaining Performance Periods, a minimum of zero and a maximum of 747 Performance Units could be outstanding.