v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating revenues and other income:      
Oil, gas, and NGL production revenue $ 3,138 $ 2,671 $ 2,364
Other operating income 16 19 10
Total operating revenues and other income 3,154 2,690 2,374
Operating expenses:      
Oil, gas, and NGL production expense 885 637 564
Depletion, depreciation, and amortization 1,207 809 690
Exploration 57 64 59
General and administrative 161 138 121
Net derivative gain (178) (50) (68)
Other operating expense 22 16 21
Total operating expenses 2,154 1,615 1,387
Income from operations 1,000 1,076 987
Interest expense (173) (141) (92)
Interest income 3 32 20
Other non-operating expense 0 (1) (1)
Income before income taxes 830 966 914
Income tax expense (182) (196) (96)
Net income $ 648 $ 770 $ 818
Basic weighted-average common shares outstanding 115 115 119
Diluted weighted-average common shares outstanding 115 116 119
Basic net income per common share $ 5.65 $ 6.71 $ 6.89
Diluted net income per common share $ 5.64 $ 6.67 $ 6.86

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