v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 40 $ 132
Trade receivables 454 333
Inventory 107 106
Receivable from affiliate 7 14
Other current assets, net 180 353
Total current assets 788 938
PROPERTY, PLANT AND EQUIPMENT 7,657 7,523
Accumulated depreciation, depletion and amortization (1,753) (1,618)
Total property, plant and equipment, net 5,904 5,905
INVESTMENT IN UNCONSOLIDATED SUBSIDIARIES 102 111
DEFERRED TAX ASSETS 81 76
OTHER NONCURRENT ASSETS 274 373
TOTAL ASSETS 7,149 7,403
CURRENT LIABILITIES    
Accounts payable 472 452
Fair value of commodity derivative contracts 421 42
Accrued liabilities 548 556
Total current liabilities 1,441 1,050
NONCURRENT LIABILITIES    
Long-term debt, net 1,310 1,283
Fair value of derivative contracts 169 17
Asset retirement obligations 906 913
Deferred tax liabilities 108 154
Other long-term liabilities 297 312
STOCKHOLDERS' EQUITY    
Preferred stock (20,000,000 shares authorized at $0.01 par value) no shares outstanding at March 31, 2026 and December 31, 2025 0 0
Common stock (200,000,000 shares authorized at $0.01 par value) (110,905,146 and 110,645,691 shares issued; 88,794,901 and 88,754,165 shares outstanding at March 31, 2026 and December 31, 2025) 1 1
Treasury stock (22,110,245 shares held at cost at March 31, 2026 and 21,891,526 shares held at cost at December 31, 2025) (954) (944)
Additional paid-in capital 2,626 2,625
Retained earnings 1,159 1,905
Accumulated other comprehensive income 86 87
Total stockholders' equity 2,918 3,674
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,149 $ 7,403