Acquisitions and Dispositions	9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition And Dispositions [Abstract]
Acquisitions and Dispositions	Note 3—Acquisitions and Dispositions Planned Acquisitions In July 2026, we entered into an agreement with a wholly owned subsidiary of BP p.l.c. (bp) to acquire a 42 percent direct equity holding in a non-operated joint venture, supporting the ongoing redevelopment of four large-scale, currently producing oil fields in the Kirkuk area of northern Iraq. This transaction is expected to close by the end of 2026, subject to regulatory approvals and other customary closing conditions, with an effective date of July 1, 2026. The purchase price is $0.4 billion, before closing adjustments, and includes deferred payments of $0.2 billion payable no later than three years from the date of close. The closing adjustments will include reimbursement of our proportionate share of bp's project costs incurred from the effective date of the agreement through close. Assets Sold In the third quarter of 2026, we sold our interests in certain noncore assets in the Lower 48 segment for net proceeds of approximately $1.7 billion. These transactions did not result in a material gain or loss. Net carrying value of our interest in these assets was comprised primarily of PP&E.

Acquisitions and Dispositions

9 Months Ended

Sep. 30, 2026

Business Combination, Asset Acquisition And Dispositions [Abstract]

Note 3—Acquisitions and Dispositions

Planned Acquisitions

In July 2026, we entered into an agreement with a wholly owned subsidiary of BP p.l.c. (bp) to acquire a 42 percent direct equity holding in a non-operated joint venture, supporting the ongoing redevelopment of four large-scale, currently producing oil fields in the Kirkuk area of northern Iraq. This transaction is expected to close by the end of 2026, subject to regulatory approvals and other customary closing conditions, with an effective date of July 1, 2026. The purchase price is $0.4 billion, before closing adjustments, and includes deferred payments of $0.2 billion payable no later than three years from the date of close. The closing adjustments will include reimbursement of our proportionate share of bp's project costs incurred from the effective date of the agreement through close.

Assets Sold

In the third quarter of 2026, we sold our interests in certain noncore assets in the Lower 48 segment for net proceeds of approximately $1.7 billion. These transactions did not result in a material gain or loss. Net carrying value of our interest in these assets was comprised primarily of PP&E.