v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 48 $ 132
Trade receivables 420 333
Inventory 109 106
Assets held for sale 56 0
Receivable from affiliate 6 14
Other current assets, net 181 353
Total current assets 820 938
PROPERTY, PLANT AND EQUIPMENT 8,003 7,523
Accumulated depreciation, depletion and amortization (2,028) (1,618)
Total property, plant and equipment, net 5,975 5,905
INVESTMENT IN UNCONSOLIDATED SUBSIDIARIES 98 111
DEFERRED TAX ASSETS 134 76
OTHER NONCURRENT ASSETS 288 373
TOTAL ASSETS 7,315 7,403
CURRENT LIABILITIES    
Accounts payable 397 452
Liabilities associated with assets held for sale 60 0
Fair value of derivative contracts 580 42
Accrued liabilities 585 556
Total current liabilities 1,622 1,050
NONCURRENT LIABILITIES    
Long-term debt, net 1,281 1,283
Fair value of derivative contracts 140 17
Asset retirement obligations 888 913
Deferred tax liabilities 6 154
Other long-term liabilities 353 312
STOCKHOLDERS' EQUITY    
Preferred stock (20,000,000 shares authorized at $0.01 par value) no shares outstanding at September 30, 2026 and December 31, 2025 0 0
Common stock (200,000,000 shares authorized at $0.01 par value) (110,945,852 and 110,645,691 shares issued; 88,275,781 and 88,754,165 shares outstanding at September 30, 2026 and December 31, 2025) 1 1
Treasury stock (22,670,071 shares held at cost at September 30, 2026 and 21,891,526 shares held at cost at December 31, 2025) (984) (944)
Additional paid-in capital 2,645 2,625
Retained earnings 1,282 1,905
Accumulated other comprehensive income 81 87
Total stockholders' equity 3,025 3,674
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,315 $ 7,403