v3.26.1
STATEMENT OF CONSOLIDATED OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES AND OTHER:        
Derivative instrument gains (losses), net $ 8 $ 138 $ (105) $ 110
Gain (loss) on divestitures, net (2) 282 (2) 280
Other, net 20 14 21 20
Total revenues and other 2,399 2,612 4,614 5,224
OPERATING EXPENSES:        
Lease operating expenses 353 367 715 774
Taxes other than income 61 54 118 128
Exploration 58 43 84 73
General and administrative 68 66 183 164
Transaction, reorganization, and separation 12 11 19 48
Depreciation, depletion, and amortization 504 530 1,057 1,173
Asset retirement obligation accretion 43 39 85 78
Financing costs, net 58 66 115 9
Total operating expenses 1,122 1,584 2,507 3,433
Income Before Income Taxes 1,277 1,028 2,107 1,791
Current income tax provision 234 232 536 538
Deferred income tax provision 216 131 201 170
NET INCOME INCLUDING NONCONTROLLING INTERESTS 827 665 1,370 1,083
Net income attributable to noncontrolling interest 80 62 177 133
Net income attributable to common stock $ 747 $ 603 $ 1,193 $ 950
NET INCOME PER COMMON SHARE:        
Basic (in USD per share) $ 2.11 $ 1.67 $ 3.37 $ 2.62
Diluted (in USD per share) $ 2.11 $ 1.67 $ 3.37 $ 2.62
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 353 361 353 362
Diluted (in shares) 354 361 354 362
Oil and gas        
REVENUES AND OTHER:        
Total revenues $ 2,373 $ 2,178 $ 4,700 $ 4,814
Oil and gas, excluding purchased        
REVENUES AND OTHER:        
Total revenues 2,037 1,718 3,979 3,757
OPERATING EXPENSES:        
Gathering, processing, and transmission & purchased oil and gas costs (proceeds) 87 104 178 208
Purchased oil and gas        
REVENUES AND OTHER:        
Total revenues 336 460 721 1,057
OPERATING EXPENSES:        
Gathering, processing, and transmission & purchased oil and gas costs (proceeds) $ (122) $ 304 $ (47) $ 778