v3.26.1
REVENUE
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE
NOTE 2 - REVENUE

Revenue from customers is recognized when obligations under the terms of a contract with customers are satisfied; this generally occurs with the delivery of oil, NGL, gas or services, such as transportation.
The following table shows a reconciliation of revenue from customers to total net sales for the three months ended March 31, 2026 and 2025:

millions20262025
Revenue from customers$5,569 $5,813 
All other revenues (a)
(339)(109)
Net sales$5,230 $5,704 
(a)    Includes other net revenues from the midstream and marketing segment.
DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERS
The table below presents the Company's revenue from customers by segment, product and geographical area. The oil and gas segment typically sells its oil, NGL and gas at the lease or concession area. Midstream and marketing segment revenues are shown by the location of sale:

millionsUnited StatesInternationalEliminationsTotal
Three Months Ended March 31, 2026
Oil and gas
Oil$3,873 $650 $— $4,523 
NGL444 74 — 518 
Gas164 83 — 247 
Other24 2 — 26 
Segment total$4,505 $809 $— $5,314 
Midstream and marketing$121 $276 $— $397 
Eliminations$— $— $(142)$(142)
Consolidated$4,626 $1,085 $(142)$5,569 
millionsUnited StatesInternationalEliminationsTotal
Three Months Ended March 31, 2025
Oil and gas
Oil$3,830 $675 $— $4,505 
NGL578 96 — 674 
Gas381 84 — 465 
Other38 1 — 39 
Segment total$4,827 $856 $— $5,683 
Midstream and marketing$144 $138 $282 
Eliminations$— $— $(152)$(152)
Consolidated$4,971 $994 $(152)$5,813