v3.26.1
Business Segments (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Information
Exploration and Production
(Millions of dollars)
United
States 1
CanadaOtherTotal
E&P
Corporate and Discontinued Operations
Consolidated
Total
Three Months Ended March 31, 2026
Revenue from production
$574.7 $154.8 $2.9 $732.4 $— $732.4 
Gain on sale of assets and other operating income
0.8 0.4 — 1.2 — 1.2 
Total revenues and other income
575.5 155.2 2.9 733.6 — 733.6 
Lease operating expenses
Lease operating expenses and taxes other than income
80.8 41.8 0.8 123.4 — 123.4 
Repair and maintenance
12.3 0.7 — 13.0 — 13.0 
Workovers4.7 2.4 — 7.1 — 7.1 
Total lease operating expenses
97.8 44.9 0.8 143.5 — 143.5 
Severance and ad valorem taxes12.9 0.8 — 13.7 — 13.7 
Transportation, gathering and processing25.2 21.9 — 47.1 — 47.1 
Selling and general expenses5.5 7.5 2.1 15.1 19.8 34.9 
Exploration Expenses
Geological and geophysical0.8 — 0.8 1.6 — 1.6 
Dry holes and previously suspended exploration costs
— — 67.1 67.1 — 67.1 
Other exploratory costs, including undeveloped lease amortization and delay lease rentals
4.9 — 9.2 14.1 — 14.1 
Total exploration expenses5.7 — 77.1 82.8 — 82.8 
Depreciation, depletion and amortization216.9 34.0 1.1 252.0 2.4 254.4 
Accretion of asset retirement obligations11.6 2.6 0.2 14.4 0.1 14.5 
Other operating expenses
4.0 0.1 0.3 4.4 — 4.4 
Interest Income(0.2)— — (0.2)(2.3)(2.5)
Interest expense, net of capitalization
0.1 0.1 — 0.2 28.8 29.0 
Income tax expense
Current income tax expense
1.0 9.6 0.3 10.9 2.2 13.1 
Deferred income tax expense (benefit)
37.3 1.6 3.4 42.3 (5.5)36.8 
Total income tax expense (benefit)
38.3 11.2 3.7 53.2 (3.3)49.9 
Other segment costs (income)
1.1 0.4 0.3 1.8 (8.6)(6.8)
Segment income (loss) - including NCI 1
$156.6 $31.7 $(82.7)$105.6 $(36.9)$68.7 
Additions to property, plant, equipment$254.8 $62.1 $71.3 $388.2 $9.3 $397.5 
Total assets at quarter-end
6,916.5 1,980.3 660.7 9,557.5 478.110,035.6 
1 Includes results attributable to the noncontrolling interest in MP GOM.
Exploration and Production
(Millions of dollars)
United
States 1
CanadaOtherTotal
E&P
Corporate and Discontinued Operations
Consolidated
Total
Three Months Ended March 31, 2025
Revenue from production
$507.4 $165.3 $— $672.7 $— $672.7 
Gain on sale of assets and other operating income (loss)
2.1 0.4 — 2.5 (9.5)(7.0)
Total revenues and other income
509.5 165.7 — 675.2 (9.5)665.7 
Lease operating expenses
Lease operating expenses and taxes other than income
100.3 45.2 0.4 145.9 — 145.9 
Repair and maintenance
10.2 1.6 — 11.8 — 11.8 
Workovers47.1 0.3 — 47.4 — 47.4 
Total lease operating expenses
157.6 47.1 0.4 205.1 — 205.1 
Severance and ad valorem taxes8.4 0.3 — 8.7 — 8.7 
Transportation, gathering and processing28.7 20.2 — 48.9 — 48.9 
Selling and general expenses2.0 6.0 1.9 9.9 21.0 30.9 
Exploration Expenses
Geological and geophysical3.2 — 0.3 3.5 — 3.5 
Dry holes and previously suspended exploration costs
0.2 — — 0.2 — 0.2 
Other exploratory costs, including undeveloped lease amortization and delay lease rentals
2.7 0.1 8.0 10.8 — 10.8 
Total exploration expenses6.1 0.1 8.3 14.5 — 14.5 
Depreciation, depletion and amortization159.4 32.4 0.1 191.9 2.3 194.2 
Accretion of asset retirement obligations11.3 2.5 0.2 14.0 — 14.0 
Other operating expenses2.6 0.9 0.1 3.6 2.0 5.6 
Interest Income(0.4)— — (0.4)(3.3)(3.7)
Interest expense, net of capitalization
— — — — 23.5 23.5 
Income tax expense
Current income tax expense
0.5 13.7 — 14.2 2.1 16.3 
Deferred income tax expense (benefit)
24.5 0.6 — 25.1 (8.7)16.4 
Total income tax expense (benefit)
25.0 14.3 — 39.3 (6.6)32.7 
Other segment costs
0.9 0.4 0.2 1.5 0.4 1.9 
Segment income (loss) - including NCI 1
$107.9 $41.5 $(11.2)$138.2 $(48.8)$89.4 
Additions to property, plant, equipment$317.1 $55.4 $35.3 $407.8 $4.2 $412.0 
Total assets at quarter-end
7,046.3 1,963.4 345.7 9,355.4 464.9 9,820.3 
1 Includes results attributable to the noncontrolling interest in MP GOM.