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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands, except per share data) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating revenues and other income:        
Oil, gas, and NGL production revenue $ 2,156 $ 785 $ 3,633 $ 1,625
Gain on divestiture activity 262 0 262 0
Other operating income 82 8 84 13
Total operating revenues and other income 2,500 793 3,979 1,637
Operating expenses:        
Oil, gas, and NGL production expense 556 224 984 449
Depletion, depreciation, and amortization 592 293 1,024 563
Exploration 21 15 47 27
General and administrative 79 42 253 81
Net derivative (gain) loss (272) (78) 425 (61)
Other operating expense 28 2 48 7
Total operating expenses 1,004 498 2,781 1,066
Income from operations 1,496 295 1,198 571
Interest expense (111) (43) (224) (87)
Other non-operating income, net 4 0 5 0
Income before income taxes 1,389 253 979 485
Income tax expense (318) (51) (243) (101)
E&P Segment net income (2) $ 1,071 $ 202 $ 736 $ 384
Basic weighted-average common shares outstanding 239 115 219 115
Diluted weighted-average common shares outstanding 240 115 220 115
Basic net income per common share $ 4.48 $ 1.76 $ 3.35 $ 3.35
Diluted net income per common share $ 4.46 $ 1.76 $ 3.34 $ 3.34