v3.26.3
SUPPLEMENTAL ACCOUNT BALANCES (Tables)
 9 Months Ended
Sep. 30, 2026
SUPPLEMENTAL INFORMATION [Abstract]  
Schedule of Disaggregated Revenue he following table provides disaggregated revenue for sales of produced oil, natural gas and natural gas liquids to customers:
Three months ended
September 30,		Nine months ended
September 30,
2026202520262025
(in millions)(in millions)
Oil$929 $653 $2,758 $2,033 
Natural gas26 26 69 73 
Natural gas liquids
47 36 136 125 
Oil, natural gas and natural gas liquids sales
$1,002 $715 $2,963 $2,231 
The following table provides disaggregated revenue for sales to customers related to our marketing activities:
Three months ended
September 30,		Nine months ended
September 30,
2026202520262025
(in millions)(in millions)
Oil$5 $20 $29 $66 
Natural gas34 38 71 106 
Natural gas liquids1 — 7 6 
Revenue from marketing of purchased commodities
$40 $58 $107 $178 
Schedule of Inventories Inventory, by category, is as follows:
September 30,December 31,
20262025
(in millions)
Materials and supplies$103 $98 
Finished goods6 8 
Inventory
$109 $106 
Schedule of Other Current Assets, Net Other current assets, net include the following:
September 30,December 31,
20262025
(in millions)
Net amounts due from joint interest partners(a)
$56 $56 
Fair value of commodity derivative contracts1 187 
Prepaid expenses43 38 
Income tax receivable64 52 
Other17 20 
Other current assets, net$181 $353 
(a)The amounts due from joint interest partners include $1 million and $2 million of allowances for credit losses as of September 30, 2026 and December 31, 2025, respectively.
Schedule of Other Noncurrent Assets Other noncurrent assets include the following:
September 30,December 31,
20262025
(in millions)
Operating lease right-of-use assets$71 $83 
Deferred financing costs - Revolving Credit Facility16 20 
Emission reduction credits 11 11 
Fair value of commodity derivative contracts20 101 
Funded pension
105 97 
Postretirement plan
20 19 
Other
45 42 
Other noncurrent assets$288 $373 
Schedule of Accrued Liabilities Accrued liabilities include the following:
September 30,December 31,
20262025
(in millions)
Compensation-related liabilities$117 $159 
Taxes other than on income111 105 
Asset retirement obligations - current portion
128 120 
Interest24 12 
Operating lease liability14 15 
Settlements and premiums due on commodity derivative contracts71 22 
Advanced payments
19 19 
Greenhouse gas liability
15 27 
Signal Hill offshore platform expense accrual
26 13 
Other60 64 
 Accrued liabilities$585 $556 
Schedule of Other Long-term Liabilities Other long-term liabilities include the following:
September 30,December 31,
20262025
(in millions)
Compensation-related liabilities$45 $48 
Postretirement and pension benefit plans56 57 
Operating lease liability59 61 
Contingent liability(a)
127 117 
Deferred premiums due on commodity derivative contracts42 — 
Other24 29 
Other long-term liabilities$353 $312 
(a)    See Note 3 Investment in Unconsolidated Subsidiaries and Related Party Transactions for information on the contingent liability related to the Carbon TerraVault JV.
Schedule of Other Operating Expenses, Net Other operating expenses, net include the following:
Three months ended
September 30,		Nine months ended
September 30,
2026202520262025
(in millions)(in millions)
Carbon management expenses
$10 $10 $22 $42 
Transaction and integration costs
3 6 7 10 
Severance and termination costs
— — 23 8 
Offshore platforms maintenance and abandonment costs
6 5 26 7 
Information technology infrastructure
5 6 11 11 
Litigation and settlement related expenses(a)
— 1 — 26 
Environmental remediation and restoration costs5 — 9 3 
Exploration expense
— — 27 1 
All other14 1 32 19 
Other operating expenses, net$43 $29 $157 $127 
(a)See Part I, Item 1 – Financial Statements, Note 5 Lawsuits, Claims, Commitments and Contingencies for more information on a $25 million payment we made to CalGEM during the nine months ended September 30, 2025.