v3.25.4

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues and other:
Gain (loss) on derivatives	$ 550	$ (38)	$ 1,728
Gains (losses) on sales of assets	(65)	14	946
Total revenues and other	12,124	4,235	8,721
Operating expenses:
Production	635	316	356
Gathering, processing and transportation	2,376	1,035	853
Severance and ad valorem taxes	193	97	167
Exploration	46	10	27
General and administrative	181	186	127
Separation and other termination costs	5	23	5
Depreciation, depletion and amortization	2,980	1,729	1,527
Impairments	37	0	0
Other operating expense, net	40	332	18
Total operating expenses	9,653	5,038	5,579
Income (loss) from operations	2,471	(803)	3,142
Other income (expense):
Interest expense	(235)	(123)	(104)
Gains (losses) on purchases, exchanges or extinguishments of debt	4	(1)	0
Other income, net	42	86	79
Total other income (expense)	(189)	(38)	(25)
Income (loss) before income taxes	2,282	(841)	3,117
Income tax expense (benefit)	463	(127)	698
Net income (loss)	$ 1,819	$ (714)	$ 2,419
Earnings (loss) per common share:
Basic (in dollars per share)	$ 7.67	$ (4.55)	$ 18.21
Diluted (in dollars per share)	$ 7.57	$ (4.55)	$ 16.92
Weighted average common shares outstanding (in thousands):
Basic (in shares)	237,290	156,989	132,840
Diluted (in shares)	240,370	156,989	142,976
Natural gas, oil and NGL
Revenues and other:
Revenues	$ 8,476	$ 2,969	$ 3,547
Marketing
Revenues and other:
Revenues	3,163	1,290	2,500
Operating expenses:
Marketing	$ 3,160	$ 1,310	$ 2,499

Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.

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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

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