v3.26.3
Condensed Consolidated Statements of Operations (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
REVENUES        
Oil, natural gas and natural gas liquids sales $ 1,002 $ 715 $ 2,963 $ 2,231
Net (loss) gain from commodity sales derivatives (675) (23) (1,318) 140
Total operating revenues 421 855 1,837 2,745
OPERATING EXPENSES        
Operating costs 386 316 1,098 927
General and administrative expenses 89 87 292 238
Depreciation, depletion and amortization 137 123 401 382
Asset impairment 0 2 0 2
Taxes other than on income 81 70 214 187
Accretion expense 26 28 80 85
Net (gain) loss from natural gas purchase derivatives (1) 27 28 24
Measurement period adjustments, net 0 0 (2) 1
Other operating expenses, net 43 29 157 127
Total operating expenses 828 756 2,444 2,193
Loss on asset divestitures 0 (1) 0 (1)
OPERATING (LOSS) INCOME (407) 98 (607) 551
NON-OPERATING (EXPENSES) INCOME        
Interest and debt expense, net (26) (25) (83) (77)
Loss on early extinguishment of debt 0 0 (49) (1)
Equity loss from unconsolidated subsidiaries (1) (2) (5) (3)
Other non-operating income, net 6 4 14 9
(LOSS) INCOME BEFORE INCOME TAXES (428) 75 (730) 479
Income tax benefit (provision) 113 (11) 218 (128)
NET (LOSS) INCOME $ (315) $ 64 $ (512) $ 351
Net (loss) income per share        
Basic (in dollars per share) $ (3.55) $ 0.76 $ (5.77) $ 4.00
Diluted (in dollars per share) $ (3.55) $ 0.76 $ (5.77) $ 3.97
Weighted-average common shares outstanding        
Basic (in shares) 88.7 83.7 88.7 87.8
Diluted (in shares) 88.7 84.4 88.7 88.4
Revenue from marketing of purchased commodities        
REVENUES        
Other revenue $ 40 $ 58 $ 107 $ 178
OPERATING EXPENSES        
Costs of sales 25 44 63 135
Electricity revenue        
REVENUES        
Other revenue 46 101 63 181
Other revenue        
REVENUES        
Other revenue 8 4 22 15
Electricity generation expenses        
OPERATING EXPENSES        
Costs of sales 11 11 26 26
Transportation costs        
OPERATING EXPENSES        
Costs of sales $ 31 $ 19 $ 87 $ 59