v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 56 $ 132
Trade receivables 342 333
Inventory 111 106
Receivable from affiliate 9 14
Other current assets, net 179 353
Total current assets 697 938
PROPERTY, PLANT AND EQUIPMENT 7,807 7,523
Accumulated depreciation, depletion and amortization (1,884) (1,618)
Total property, plant and equipment, net 5,923 5,905
INVESTMENT IN UNCONSOLIDATED SUBSIDIARIES 98 111
DEFERRED TAX ASSETS 100 76
OTHER NONCURRENT ASSETS 285 373
TOTAL ASSETS 7,103 7,403
CURRENT LIABILITIES    
Accounts payable 389 452
Fair value of commodity derivative contracts 147 42
Accrued liabilities 519 556
Total current liabilities 1,055 1,050
NONCURRENT LIABILITIES    
Long-term debt, net 1,281 1,283
Fair value of derivative contracts 70 17
Asset retirement obligations 923 913
Deferred tax liabilities 73 154
Other long-term liabilities 299 312
STOCKHOLDERS' EQUITY    
Preferred stock (20,000,000 shares authorized at $0.01 par value) no shares outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock (200,000,000 shares authorized at $0.01 par value) (110,930,138 and 110,645,691 shares issued; 88,819,893 and 88,754,165 shares outstanding at June 30, 2026 and December 31, 2025) 1 1
Treasury stock (22,110,245 shares held at cost at June 30, 2026 and 21,891,526 shares held at cost at December 31, 2025) (954) (944)
Additional paid-in capital 2,636 2,625
Retained earnings 1,634 1,905
Accumulated other comprehensive income 85 87
Total stockholders' equity 3,402 3,674
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,103 $ 7,403