v3.26.1
EQUITY-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Effects of Stock-Based Compensation Plans and Related Costs
The following table presents the financial statement impacts of equity compensation plans and related costs on the Company’s financial statements:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In millions)
General and administrative expenses$24 $21 $46 $39 
Equity-based compensation capitalized pursuant to full cost method of accounting for oil and natural gas properties$$10 $18 $15 
Schedule of Restricted Stock Units
The following table presents the Company’s RSU activity during the six months ended June 30, 2026, under the Equity Plan:

Restricted Stock
 Units
Weighted Average Grant-Date
Fair Value
Unvested at December 31, 2025
890,062 $153.87 
Granted554,510 $178.74 
Vested(136,547)$162.63 
Forfeited(40,909)$162.54 
Unvested at June 30, 2026
1,267,116 $163.53 
Schedule of Performance Restricted Stock Units Activity
The following table presents the Company’s PSU activity under the Equity Plan for the six months ended June 30, 2026:

Performance-Based Restricted Stock UnitsWeighted Average Grant-Date Fair Value
Unvested at December 31, 2025
327,931 $254.50 
Granted170,279 $235.63 
Vested(16,072)$206.97 
Forfeited(7,191)$258.56 
Unvested at June 30, 2026(1)
474,947 $249.28 
(1)A maximum of 1,160,668 units could be awarded based upon the Company’s final TSR ranking.
Schedule of Grant-Date Fair Values of Performance Restricted Stock Units Granted and Related Assumptions
The following table presents a summary of the grant-date fair values of PSUs granted and the related assumptions for the awards granted during the period presented:

March 2026
Grant-date fair value$235.63 
Risk-free rate3.4 %
Company volatility32.0 %