|
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Operating revenues |
|
|
| Oil |
$ 229 |
$ 406 |
| Natural gas |
48 |
78 |
| NGLs |
13 |
27 |
| Financial derivatives |
203 |
(135) |
| Total operating revenues |
493 |
376 |
| Operating expenses |
|
|
| Natural gas purchases |
7 |
3 |
| Transportation costs |
27 |
23 |
| Lease operating expense |
47 |
44 |
| General and administrative |
47 |
133 |
| Depreciation, depletion and amortization |
224 |
192 |
| Exploration and other expense |
6 |
8 |
| Taxes, other than income taxes |
22 |
33 |
| Total operating expenses |
380 |
436 |
| Operating income (loss) |
113 |
(60) |
| Loss on extinguishment of debt |
0 |
(17) |
| Interest expense |
(84) |
(79) |
| Income (loss) from continuing operations before income taxes |
29 |
(156) |
| Income tax expense (benefit) |
10 |
(56) |
| Income (loss) from continuing operations |
19 |
(100) |
| Income from discontinued operations, net of tax |
0 |
10 |
| Net income (loss) |
$ 19 |
$ (90) |
| Basic and diluted net income (loss) per common share |
|
|
| Income (loss) from continuing operations (in dollars per share) |
$ 0.08 |
$ (0.42) |
| Income from discontinued operations, net of tax (in dollars per share) |
$ 0.00 |
$ 0.04 |
| Net income (loss) (in dollars per share) |
$ 0.08 |
$ (0.38) |
| Basic and diluted weighted average common shares outstanding (in shares) |
244 |
238 |