v3.26.1
Condensed Consolidated Statements of 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        
Oil, natural gas and natural gas liquids sales $ 1,056 $ 702 $ 1,961 $ 1,516
Net gain (loss) from commodity sales derivatives 205 157 (643) 163
Total operating revenues 1,297 978 1,416 1,890
OPERATING EXPENSES        
Operating costs 347 295 712 611
General and administrative expenses 97 79 203 151
Depreciation, depletion and amortization 131 128 264 259
Taxes other than on income 66 47 133 117
Accretion expense 27 28 54 57
Net loss (gain) from natural gas purchase derivatives 5 3 29 (3)
Measurement period adjustments, net (2) 0 (2) 1
Other operating expenses, net 60 65 114 98
Total operating expenses 786 711 1,616 1,437
OPERATING INCOME (LOSS) 511 267 (200) 453
NON-OPERATING (EXPENSES) INCOME        
Interest and debt expense, net (28) (25) (57) (52)
Loss on early extinguishment of debt (28) 0 (49) (1)
Equity loss from unconsolidated subsidiaries (2) 0 (4) (1)
Other non-operating income, net 5 0 8 5
INCOME (LOSS) BEFORE INCOME TAXES 458 242 (302) 404
Income tax benefit (provision) 56 (70) 105 (117)
NET INCOME (LOSS) $ 514 $ 172 $ (197) $ 287
Net income (loss) per share        
Basic (in dollars per share) $ 5.79 $ 1.93 $ (2.22) $ 3.20
Diluted (in dollars per share) $ 5.76 $ 1.92 $ (2.22) $ 3.18
Weighted-average common shares outstanding        
Basic (in shares) 88.8 89.0 88.7 89.8
Diluted (in shares) 89.3 89.4 88.7 90.3
Revenue from marketing of purchased commodities        
REVENUES        
Other revenue $ 26 $ 56 $ 67 $ 120
OPERATING EXPENSES        
Costs of sales 15 41 38 91
Electricity revenue        
REVENUES        
Other revenue 6 58 17 80
Other revenue        
REVENUES        
Other revenue 4 5 14 11
Electricity generation expenses        
OPERATING EXPENSES        
Costs of sales 10 5 15 15
Transportation costs        
OPERATING EXPENSES        
Costs of sales $ 30 $ 20 $ 56 $ 40