Consolidated Statement of Income (USD $)
In Millions, except Per Share data | 3 Months Ended | 9 Months Ended |
|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 |
|---|
| Consolidated Statement of Income [Abstract] | | | | |
| Oil and gas revenues | $ 628 | $ 449 | $ 1,794 | $ 1,355 |
| Operating expenses: | | | | |
| Lease operating | 115 | 86 | 333 | 237 |
| Production and other taxes | 95 | 21 | 245 | 77 |
| Depreciation, depletion and amortization | 189 | 156 | 528 | 463 |
| General and administrative | 51 | 40 | 132 | 117 |
| Other | 0 | 0 | 0 | 10 |
| Total operating expenses | 450 | 303 | 1,238 | 904 |
| Income from operations | 178 | 146 | 556 | 451 |
| Other income (expenses): | | | | |
| Interest expense | (43) | (39) | (124) | (116) |
| Capitalized interest | 24 | 15 | 61 | 43 |
| Commodity derivative income | 262 | 131 | 249 | 414 |
| Other | 3 | 1 | 2 | 2 |
| Total other income | 246 | 108 | 188 | 343 |
| Income before income taxes | 424 | 254 | 744 | 794 |
| Income tax provision: | | | | |
| Current | 9 | 7 | 39 | 34 |
| Deferred | 146 | 86 | 234 | 259 |
| Total income tax provision | 155 | 93 | 273 | 293 |
| Net income | $ 269 | $ 161 | $ 471 | $ 501 |
| Earnings per share | | | | |
| Basic | $ 2.00 | $ 1.22 | $ 3.52 | $ 3.80 |
| Diluted | $ 1.99 | $ 1.20 | $ 3.49 | $ 3.75 |
| Weighted-average number of shares outstanding for basic earnings per share | 134 | 132 | 134 | 132 |
| Weighted-average number of shares outstanding for diluted earnings per share | 135 | 134 | 135 | 134 |