v3.26.1
STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
REVENUES AND OTHER:    
Derivative instrument losses, net $ (113) $ (28)
Loss on divestitures, net 0 (2)
Other, net 1 6
Total revenues and other 2,215 2,612
OPERATING EXPENSES:    
Lease operating expenses 362 407
Taxes other than income 57 74
Exploration 26 30
General and administrative 115 98
Transaction, reorganization, and separation 7 37
Depreciation, depletion, and amortization 553 643
Asset retirement obligation accretion 42 39
Financing costs, net 57 (57)
Total operating expenses 1,385 1,849
Income Before Income Taxes 830 763
Current income tax provision 302 306
Deferred income tax provision (benefit) (15) 39
NET INCOME INCLUDING NONCONTROLLING INTERESTS 543 418
Net income attributable to noncontrolling interest 97 71
Net income attributable to common stock $ 446 $ 347
NET INCOME PER COMMON SHARE:    
Basic (in USD per share) $ 1.26 $ 0.96
Diluted (in USD per share) $ 1.26 $ 0.96
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:    
Basic (in shares) 354 364
Diluted (in shares) 354 364
Oil and gas    
REVENUES AND OTHER:    
Total revenues $ 2,327 $ 2,636
Oil and gas, excluding purchased    
REVENUES AND OTHER:    
Total revenues 1,942 2,039
OPERATING EXPENSES:    
Gathering, processing, and transmission & purchased oil and gas costs 91 104
Purchased oil and gas    
REVENUES AND OTHER:    
Total revenues 385 597
OPERATING EXPENSES:    
Gathering, processing, and transmission & purchased oil and gas costs $ 75 $ 474