v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues and other:    
Losses on derivatives $ (129) $ (1,014)
Losses on sales of assets (1) 0
Total revenues and other 4,397 2,196
Operating expenses:    
Production 185 147
Gathering, processing and transportation 690 563
Severance and ad valorem taxes 60 48
Exploration 14 7
General and administrative 63 47
Separation and other termination costs 9 0
Depreciation, depletion and amortization 711 711
Other operating expense, net 13 22
Total operating expenses 2,866 2,464
Income (loss) from operations 1,531 (268)
Other income (expense):    
Interest expense (59) (59)
Other income, net 17 8
Total other income (expense) (42) (51)
Income (loss) before income taxes 1,489 (319)
Income tax expense (benefit) 330 (70)
Net income (loss) $ 1,159 $ (249)
Earnings (loss) per common share:    
Basic (in dollars per share) $ 4.83 $ (1.06)
Diluted (in dollars per share) $ 4.81 $ (1.06)
Weighted average common shares outstanding (in thousands):    
Basic (in shares) 239,900 234,434
Diluted (in shares) 240,759 234,434
Natural gas, oil and NGL    
Revenues and other:    
Revenue $ 3,315 $ 2,300
Marketing    
Revenues and other:    
Revenue 1,212 910
Operating expenses:    
Marketing $ 1,121 $ 919