Marathon Oil (MRO) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-1513
Entity Registrant Name	Marathon Oil Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	25-0996816
Entity Address, Address Line One	990 Town and Country Boulevard,
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77024-2217
City Area Code	(713)
Local Phone Number	629-6600
Title of 12(b) Security	Common Stock, par value $1.00
Trading Symbol	MRO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		677,583,502
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Amendment Flag	false
Entity Central Index Key	0000101778
Current Fiscal Year End Date	--12-31

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues and other income:
Revenues from contracts with customers	$ 2,168	$ 1,254	$ 3,929	$ 2,431
Net gain (loss) on commodity derivatives	(27)	(166)	(170)	(319)
Income from equity method investments	152	49	279	93
Net gain (loss) on disposal of assets	(1)	1	(1)	1
Other income	11	5	19	8
Total revenues and other income	2,303	1,143	4,056	2,214
Costs and expenses:
Production	164	126	316	247
Shipping, handling and other operating	191	167	376	319
Exploration	8	25	19	46
Depreciation, depletion and amortization	436	532	859	1,028
Impairments	2	46	2	47
Taxes other than income	140	74	244	148
General and administrative	68	68	141	157
Total costs and expenses	1,009	1,038	1,957	1,992
Income from operations	1,294	105	2,099	222
Net interest and other	(54)	(59)	(76)	(72)
Other net periodic benefit (costs) credits	5	(1)	9	2
Loss on early extinguishment of debt	0	(19)	0	(19)
Income before income taxes	1,245	26	2,032	133
Provision (benefit) for income taxes	279	10	(238)	20
Net income	$ 966	$ 16	$ 2,270	$ 113
Net income per share:
Basic (in dollars per share)	$ 1.37	$ 0.02	$ 3.17	$ 0.14
Diluted (in dollars per share)	$ 1.37	$ 0.02	$ 3.16	$ 0.14
Weighted average common shares outstanding:
Basic (in shares)	703	789	717	790
Diluted (in shares)	705	789	719	791

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 966	$ 16	$ 2,270	$ 113
Other comprehensive income (loss), net of tax
Change in actuarial gain (loss) and other for postretirement and postemployment plans	1	16	(3)	13
Change in derivative hedges unrecognized gain (loss)	4	(21)	16	19
Reclassification of de-designated forward interest rate swaps	0	(30)	0	(28)
Other	(1)	0	(1)	0
Other comprehensive income (loss)	4	(35)	12	4
Comprehensive income (loss)	$ 970	$ (19)	$ 2,282	$ 117

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,162	$ 580
Receivables, net	1,512	1,142
Inventories	93	77
Other current assets	41	22
Total current assets	2,808	1,821
Equity method investments	528	450
Property, plant and equipment, net of accumulated depreciation, depletion and amortization of $23,116 and $22,412	14,357	14,499
Deferred tax assets	325	0
Other noncurrent assets	268	224
Total assets	18,286	16,994
Current liabilities:
Accounts payable	1,523	1,110
Payroll and benefits payable	50	74
Accrued taxes	143	157
Other current liabilities	388	260
Long-term debt due within one year	273	36
Total current liabilities	2,377	1,637
Long-term debt	3,709	3,978
Deferred tax liabilities	146	136
Defined benefit postretirement plan obligations	124	137
Asset retirement obligations	278	288
Deferred credits and other liabilities	120	132
Total liabilities	6,754	6,308
Commitments and contingencies
Stockholders’ Equity
Preferred stock – no shares issued or outstanding (no par value, 26 million shares authorized)	0	0
Common stock:
Issued – 937 million shares (par value $1 per share, 1.925 billion shares authorized at June 30, 2022 and December 31, 2021)	937	937
Held in treasury, at cost – 248 million shares and 194 million shares	(6,118)	(4,825)
Additional paid-in capital	7,186	7,221
Retained earnings	9,433	7,271
Accumulated other comprehensive income	94	82
Total stockholders’ equity	11,532	10,686
Total liabilities and stockholders’ equity	$ 18,286	$ 16,994

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Property, plant and equipment, accumulated depreciation	$ 23,116	$ 22,412
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	26,000,000	26,000,000
Common stock, shares issued (in shares)	937,000,000	937,000,000
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	1,925,000,000	1,925,000,000
Held in treasury, shares (in shares)	248,000,000	194,000,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net income	$ 2,270	$ 113
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	859	1,028
Impairments	2	47
Exploratory dry well costs and unproved property impairments	14	39
Net (gain) loss on disposal of assets	1	(1)
Loss on early extinguishment of debt	0	19
Deferred income taxes	(319)	(7)
Unrealized loss on derivative instruments, net	71	157
Pension and other post retirement benefits, net	(16)	(14)
Stock-based compensation	18	17
Equity method investments, net	(85)	(17)
Changes in:
Current receivables	(376)	(253)
Inventories	(16)	(2)
Current accounts payable and accrued liabilities	278	121
Other current assets and liabilities	(7)	73
All other operating, net	51	(43)
Net cash provided by operating activities	2,745	1,277
Investing activities:
Additions to property, plant and equipment	(687)	(483)
Acquisitions, net of cash acquired	2	0
Disposal of assets, net of cash transferred to the buyer	4	15
Equity method investments - return of capital	7	6
All other investing, net	0	(1)
Net cash used in investing activities	(674)	(463)
Financing activities:
Debt repayment	(32)	(500)
Debt extinguishment costs	0	(19)
Shares repurchased under buyback programs	(1,352)	0
Dividends paid	(108)	(55)
Purchases of shares for tax withholding obligations	(21)	(9)
All other financing, net	24	(3)
Net cash used in financing activities	(1,489)	(586)
Net increase in cash and cash equivalents	582	228
Cash and cash equivalents at beginning of period	580	742
Cash and cash equivalents at end of period	$ 1,162	$ 970

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2020	$ 10,561	$ 0	$ 937	$ (4,089)	$ 7,174	$ 6,466	$ 73
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	(3)			(24)	21
Net income (loss)	97					97
Other comprehensive income (loss)	39						39
Dividends paid	(23)					(23)
Ending balance at Mar. 31, 2021	10,671	0	937	(4,113)	7,195	6,540	112
Beginning balance at Dec. 31, 2020	10,561	0	937	(4,089)	7,174	6,466	73
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	113
Other comprehensive income (loss)	4
Ending balance at Jun. 30, 2021	10,634	0	937	(4,105)	7,201	6,524	77
Beginning balance at Mar. 31, 2021	10,671	0	937	(4,113)	7,195	6,540	112
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	14			8	6
Net income (loss)	16					16
Other comprehensive income (loss)	(35)						(35)
Dividends paid	(32)					(32)
Ending balance at Jun. 30, 2021	10,634	0	937	(4,105)	7,201	6,524	77
Beginning balance at Dec. 31, 2021	10,686	0	937	(4,825)	7,221	7,271	82
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares repurchased under buyback programs	(592)			(592)
Stock-based compensation	12			55	(43)
Net income (loss)	1,304					1,304
Other comprehensive income (loss)	8						8
Dividends paid	(52)					(52)
Ending balance at Mar. 31, 2022	11,366	0	937	(5,362)	7,178	8,523	90
Beginning balance at Dec. 31, 2021	10,686	0	937	(4,825)	7,221	7,271	82
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,270
Other comprehensive income (loss)	12
Ending balance at Jun. 30, 2022	11,532	0	937	(6,118)	7,186	9,433	94
Beginning balance at Mar. 31, 2022	11,366	0	937	(5,362)	7,178	8,523	90
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares repurchased under buyback programs	(760)			(760)
Stock-based compensation	12			4	8
Net income (loss)	966					966
Other comprehensive income (loss)	4						4
Dividends paid	(56)					(56)
Ending balance at Jun. 30, 2022	$ 11,532	$ 0	$ 937	$ (6,118)	$ 7,186	$ 9,433	$ 94

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 0.08	$ 0.07	$ 0.04	$ 0.03	$ 0.15	$ 0.07

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation These consolidated financial statements are unaudited; however, in the opinion of management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal recurring nature unless disclosed otherwise. These consolidated financial statements, including notes, have been prepared in accordance with the applicable rules of the SEC and do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2021 Annual Report on Form 10-K. The results of operations for the second quarter and first six months of 2022 are not necessarily indicative of the results to be expected for the full year.

Accounting Standards

Accounting Standards	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Accounting Standards	Accounting StandardsNo accounting standards were adopted in the second quarter or first six months of 2022 that had a material impact on our consolidated financial statements.

Income and Dividends per Common

Income and Dividends per Common Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Income and Dividends per Common Share	Income and Dividends per Common Share Basic income per share is based on the weighted average number of common shares outstanding. Diluted income per share assumes exercise of stock options in all periods, provided the effect is not antidilutive. The per share calculations below exclude 2 million of stock options for the three and six months ended June 30, 2022 and 4 million and 5 million of stock options for the three and six months ended June 30, 2021, respectively, that were antidilutive. Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data) 2022 2021 2022 2021 Net income $ 966 $ 16 $ 2,270 $ 113 Weighted average common shares outstanding 703 789 717 790 Effect of dilutive securities 2 — 2 1 Weighted average common shares, diluted 705 789 719 791 Net income per share: Basic $ 1.37 $ 0.02 $ 3.17 $ 0.14 Diluted $ 1.37 $ 0.02 $ 3.16 $ 0.14 Dividends per share $ 0.08 $ 0.04 $ 0.15 $ 0.07

Revenues

Revenues	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The majority of our revenues are derived from the sale of crude oil and condensate, NGLs and natural gas under spot and term agreements with our customers in the United States and Equatorial Guinea. As of June 30, 2022 and December 31, 2021, receivables from contracts with customers, included in receivables, net were $1.3 billion and $961 million, respectively. The following tables present our revenues from contracts with customers disaggregated by product type and geographic areas for the three and six months ended June 30: United States Three Months Ended June 30, 2022 (In millions) Eagle Ford Bakken Oklahoma Northern Delaware Other U.S. Total Crude oil and condensate $ 544 $ 749 $ 138 $ 100 $ 42 $ 1,573 Natural gas liquids 55 92 69 15 8 239 Natural gas 56 46 95 21 10 228 Other 1 — — — 48 49 Revenues from contracts with customers $ 656 $ 887 $ 302 $ 136 $ 108 $ 2,089 Three Months Ended June 30, 2021 (In millions) Eagle Ford Bakken Oklahoma Northern Delaware Other U.S. Total Crude oil and condensate $ 353 $ 411 $ 71 $ 77 $ 24 $ 936 Natural gas liquids 33 48 37 11 2 131 Natural gas 29 17 41 5 (1) 91 Other 2 — — — 29 31 Revenues from contracts with customers $ 417 $ 476 $ 149 $ 93 $ 54 $ 1,189 Six Months Ended June 30, 2022 (In millions) Eagle Ford Bakken Oklahoma Northern Delaware Other U.S. Total Crude oil and condensate $ 1,003 $ 1,401 $ 237 $ 188 $ 85 $ 2,914 Natural gas liquids 99 181 128 30 17 455 Natural gas 89 89 151 33 17 379 Other 3 — — — 52 55 Revenues from contracts with customers $ 1,194 $ 1,671 $ 516 $ 251 $ 171 $ 3,803 Six Months Ended June 30, 2021 (In millions) Eagle Ford Bakken Oklahoma Northern Delaware Other U.S. Total Crude oil and condensate $ 612 $ 783 $ 132 $ 154 $ 46 $ 1,727 Natural gas liquids 59 89 74 20 5 247 Natural gas 76 42 150 30 8 306 Other 4 — — — 37 41 Revenues from contracts with customers $ 751 $ 914 $ 356 $ 204 $ 96 $ 2,321 International (E.G.) Three Months Ended June 30, Six Months Ended June 30, (In millions) 2022 2021 2022 2021 Crude oil and condensate $ 71 $ 58 $ 111 $ 95 Natural gas liquids — 1 1 2 Natural gas 7 5 12 12 Other 1 1 2 1 Revenues from contracts with customers $ 79 $ 65 $ 126 $ 110

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information We have two reportable operating segments. Both of these segments are organized and managed based upon geographic location and the nature of the products and services offered. • United States (“U.S.”) – explores for, produces and markets crude oil and condensate, NGLs and natural gas in the United States • International (“Int’l”) – produces and markets crude oil and condensate, NGLs and natural gas outside of the United States as well as produces and markets products manufactured from natural gas, such as LNG and methanol, in Equatorial Guinea (“E.G.”) Segment income represents income that excludes certain items not allocated to our operating segments, net of income taxes. A portion of our corporate and operations general and administrative support costs are not allocated to the operating segments. These unallocated costs primarily consist of employment costs (including pension effects), professional services, facilities and other costs associated with corporate and operations support activities. Additionally, items which affect comparability such as: gains or losses on dispositions, impairments of proved and certain unproved properties, goodwill and equity method investments, changes in our valuation allowance, unrealized gains or losses on commodity and interest rate derivative instruments, effects of pension settlements and curtailments or other items (as determined by the chief operating decision maker (“CODM”)) are not allocated to operating segments. Three Months Ended June 30, 2022 (In millions) U.S. Int’l Not Allocated to Segments Total Revenues from contracts with customers $ 2,089 $ 79 $ — $ 2,168 Net gain (loss) on commodity derivatives (70) — 43 (b) (27) Income from equity method investments — 152 — 152 Net loss on disposal of assets — — (1) (1) Other income 2 2 7 11 Less costs and expenses: Production 150 14 — 164 Shipping, handling and other operating 187 1 3 191 Exploration 8 — — 8 Depreciation, depletion and amortization 415 16 5 436 Impairments — — 2 2 Taxes other than income 139 — 1 140 General and administrative 27 3 38 68 Net interest and other — — 54 54 Other net periodic benefit costs — — (5) (5) Income tax provision (benefit) 249 39 (9) 279 Segment income (loss) $ 846 $ 160 $ (40) $ 966 Total assets $ 15,757 $ 1,059 $ 1,470 $ 18,286 Capital expenditures (a) $ 372 $ 1 $ 2 $ 375 (a) Includes accruals. (b) Unrealized gain on commodity derivative instruments (See Note 13 ). Three Months Ended June 30, 2021 (In millions) U.S. Int’l Not Allocated to Segments Total Revenues from contracts with customers $ 1,189 $ 65 $ — $ 1,254 Net gain (loss) on commodity derivatives (91) — (75) (b) (166) Income (loss) from equity method investments — 49 — 49 Net gain on disposal of assets — — 1 1 Other income 3 2 — 5 Less costs and expenses: Production 113 13 — 126 Shipping, handling and other operating 153 2 12 167 Exploration 18 — 7 25 Depreciation, depletion and amortization 506 18 8 532 Impairments — — 46 (c) 46 Taxes other than income 76 — (2) 74 General and administrative 27 4 37 68 Net interest and other — — 59 (d) 59 Other net periodic benefit costs — — 1 1 Loss on early extinguishment of debt — — 19 (e) 19 Income tax provision (benefit) 1 11 (2) 10 Segment income (loss) $ 207 $ 68 $ (259) $ 16 Total assets $ 15,747 $ 1,047 $ 1,006 $ 17,800 Capital expenditures (a) $ 284 $ 2 $ 3 $ 289 (a) Includes accruals. (b) Unrealized loss on commodity derivative instruments (See Note 13 ). (c) Includes impairments of $24 million associated with central facilities in Eagle Ford (See Note 10 ) and $22 million associated with decommissioning costs for non-producing long-lived assets in the Gulf of Mexico (‘GOM’) (See Note 10 , Note 11 and Note 22 ). (d) Includes a $22 million loss on 2022 interest rate swaps and a $31 million gain on 2025 interest rate swaps, neither of which were designated as cash flow hedges as of June 30, 2021 (See Note 13 ). (e) Represents costs related to a make-whole provision premium and the write off of unamortized discount and issuance costs related to the redemption of the 2022 Notes in April 2021. Six Months Ended June 30, 2022 (In millions) U.S. Int’l Not Allocated to Segments Total Revenues from contracts with customers $ 3,803 $ 126 $ — $ 3,929 Net loss on commodity derivatives (99) — (71) (b) (170) Income from equity method investments — 279 — 279 Net loss on disposal of assets — — (1) (1) Other income 6 4 9 19 Less costs and expenses: Production 291 25 — 316 Shipping, handling and other operating 337 10 29 376 Exploration 19 — — 19 Depreciation, depletion and amortization 819 31 9 859 Impairments — — 2 2 Taxes other than income 238 — 6 244 General and administrative 57 6 78 141 Net interest and other — — 76 (c) 76 Other net periodic benefit credit — — (9) (9) Income tax provision (benefit) 442 62 (742) (d) (238) Segment income $ 1,507 $ 275 $ 488 $ 2,270 Total assets $ 15,757 $ 1,059 $ 1,470 $ 18,286 Capital expenditures (a) $ 718 $ — $ 5 $ 723 (a) Includes accruals. (b) Unrealized loss on commodity derivative instruments (See Note 14 ). (c) Includes a $17 million gain on 2025 interest rate swaps (See Note 13 ). (d) Includes a $685 million benefit related to the partial release of our valuation allowance (See Note 6 ). Six Months Ended June 30, 2021 (In millions) U.S. Int’l Not Allocated to Segments Total Revenue from contracts with customers $ 2,321 $ 110 $ — $ 2,431 Net gain on commodity derivatives (162) — (157) (b) (319) Loss from equity method investments — 93 — 93 Net gain on disposal of assets — — 1 1 Other income 4 3 1 8 Less costs and expenses: Production 224 23 — 247 Shipping, handling and other operating 297 6 16 319 Exploration 39 — 7 46 Depreciation, depletion and amortization 978 37 13 1,028 Impairments — — 47 (c) 47 Taxes other than income 150 — (2) 148 General and administrative 50 6 101 (d) 157 Net interest and other — — 72 (e) 72 Other net periodic benefit credit — — (2) (2) Loss on early extinguishment of debt — — 19 (f) 19 Income tax provision (benefit) 6 16 (2) 20 Segment income (loss) $ 419 $ 118 $ (424) $ 113 Total assets $ 15,747 $ 1,047 $ 1,006 $ 17,800 Capital expenditures (a) $ 467 $ 2 $ 4 $ 473 (a) Includes accruals. (b) Unrealized loss on commodity derivative instruments (See Note 14 ). (c) Includes second quarter 2021 impairments of $24 million associated with central facilities in Eagle Ford (See Note 10 ) and $22 million associated with decommissioning costs for non-producing long-lived assets in GOM (See Note 10 , Note 11 and Note 22 ). (d) Includes $13 million associated with the termination of an aircraft lease agreement and $12 million arising from severance expenses associated with a workforce reduction. (e) Includes a $19 million gain on 2022 interest rate swaps and a $31 million gain on 2025 interest rate swaps, neither of which were designated as cash flow hedges as of June 30, 2021 (See Note 13 ). (f) Represents costs related to a make-whole provision premium and the write off of unamortized discount and issuance costs related to the redemption of the 2022 Notes in April 2021.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Effective Tax Rate The effective income tax rate is influenced by a variety of factors including the geographic and functional sources of income and the relative magnitude of these sources of income. The difference between the total provision and the sum of the amounts allocated to segments is reported in the “Not Allocated to Segments” column of the tables in Note 5 . For the three and six months ended June 30, 2022 and 2021, our effective income tax rates were as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Effective income tax rate 22 % 38 % (12) % 15 % • 2022 — Our effective income tax rate was different from our U.S. statutory tax rate of 21% for the six months ended June 30, 2022, due to the first quarter 2022 release of the valuation allowance on certain U.S. and state deferred tax assets resulting in a non-cash deferred tax benefit of $685 million. As we previously disclosed in our 2021 Form 10-K, we maintained a full valuation allowance on our net federal deferred tax assets and would continue to do so until there exists sufficient positive evidence to support a reversal of the allowance. In the first quarter, as a result of significant increases in commodity prices, corresponding increases in projections of our future taxable income, and the absence of objective negative evidence such as a cumulative loss in recent years, we determined we have sufficient positive evidence to release a majority of the federal valuation allowance. We retained a partial valuation allowance on certain U.S. deferred tax assets primarily as a result of volatility in commodity prices impacting assessed likelihood of future realizability. • 2021 — Our effective income tax rate was different from our U.S. statutory tax rate of 21% for the three and six months ended June 30, 2021, as a result of the valuation allowance on net federal deferred tax assets in the U.S. which was in place at the time. In addition, the income mix of our U.S. and E.G. operations, including the income mix within E.G. between equity method investees and subsidiaries, contributed to the difference.

Credit Losses

Credit Losses	6 Months Ended
	Jun. 30, 2022
Credit Loss [Abstract]
Credit Losses	Credit Losses The majority of our receivables are from purchasers of commodities or joint interest owners in properties we operate, both of which are recorded at estimated or invoiced amounts and do not bear interest. The majority of these receivables have payment terms of 30 days or less. At the end of each reporting period, we assess the collectability of our receivables and estimate the expected credit losses using historical data, current market conditions, reasonable and supportable forecasts of future economic conditions and other data as deemed appropriate. Changes in the allowance for doubtful accounts balance were as follows: (In millions) June 30, 2022 December 31, 2021 Beginning balance as of January 1 $ 15 $ 22 Current period provision (2) 3 Current period write offs — (5) Recoveries of amounts previously reserved — (5) Ending balance $ 13 $ 15

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Crude oil and natural gas are recorded at weighted average cost and carried at the lower of cost or net realizable value. Supplies and other items consist principally of tubular goods and equipment which are valued at weighted average cost and reviewed periodically for obsolescence or impairment when market conditions indicate. (In millions) June 30, 2022 December 31, 2021 Crude oil and natural gas $ 15 $ 8 Supplies and other items 78 69 Inventories $ 93 $ 77

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment (In millions) June 30, 2022 December 31, 2021 United States $ 13,989 $ 14,097 International 315 347 Corporate 53 55 Net property, plant and equipment $ 14,357 $ 14,499 As of June 30, 2022 and December 31, 2021, we had $34 million and $80 million , respectively, of e

Impairments

Impairments	6 Months Ended
	Jun. 30, 2022
Impairment Expense [Abstract]
Impairments	Impairments The following table summarizes impairment charges of proved properties and their corresponding fair values. Three Months Ended June 30, 2022 2021 (In millions) Fair Value Impairment Fair Value Impairment Long-lived assets held for use $ — $ — $ — $ 24 Asset retirement costs of long-lived assets $ — $ 2 $ — $ 22 Six Months Ended June 30, 2022 2021 (In millions) Fair Value Impairment Fair Value Impairment Long-lived assets held for use $ — $ — $ — $ 25 Asset retirement costs of long-lived assets $ — $ 2 $ — $ 22 • 2021 — During the second quarter of 2021, we recorded an impairment expense of $24 million associated with two central facilities located in Eagle Ford. Decommissioning activities commenced during the quarter, which included the re-routing of existing wells. We also recognized an incremental $22 million of impairment expense associated with an increase in the estimated future decommissioning costs of certain non-producing wells, pipelines and production facilities for previously divested offshore assets located in the Gulf of Mexico. In a prior reporting period, we recorded a $7 million liability in our consolidated balance sheet associated with these assets, thereby increasing the total recognized asset retirement obligation to $29 million as of June 30, 2021. See Note 11 and Note 22 for further information. The combined effects of these items were recorded within the Impairments line item within our consolidated statements of income.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations Asset retirement obligations primarily consist of estimated costs to remove, dismantle and restore land or seabed at the end of oil and gas production operations. Changes in asset retirement obligations were as follows: June 30, (In millions) 2022 2021 Beginning balance as of January 1 $ 316 $ 254 Incurred liabilities, including acquisitions 8 6 Settled liabilities, including dispositions (3) (2) Accretion expense (included in depreciation, depletion and amortization) 7 6 Revisions of estimates (5) 32 Ending balance as of June 30, total $ 323 $ 296 Ending balance as of June 30, short-term $ 46 $ 24 • 2021 — In the second quarter of 2021, we had a revision of estimate of $29 million related to anticipated costs for decommissioning certain wells, pipelines and production facilities for previously divested offshore non-producing long-lived assets located in the Gulf of Mexico. As of June 30, 2021, $14 million of this revision of estimate was classified as short-term. See Note 22 for further information. During the quarter, we recognized $22 million of impairment expense associated with these non-producing long-lived assets within our consolidated statements of income. See Note 10 for further information.

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Leases Lessee Balance sheet information related to right-of-use (“ROU”) assets and lease liabilities was as follows: (In millions) Balance Sheet Location: June 30, 2022 December 31, 2021 ROU assets: Operating leases Other noncurrent assets $ 119 $ 59 Finance leases Other noncurrent assets 26 28 Total ROU assets $ 145 $ 87 Lease liabilities: Current liabilities Operating leases Other current liabilities $ 78 $ 40 Finance leases Other current liabilities 6 6 Noncurrent liabilities Operating leases Deferred credits and other liabilities 45 23 Finance leases Deferred credits and other liabilities 20 24 Total lease liabilities $ 149 $ 93 Operating Leases We enter into various lease agreements to support our operations including drilling rigs, well fracturing equipment, compressors, buildings, vessels, vehicles and miscellaneous field equipment. We primarily act as a lessee in these transactions and the majority of our existing leases are classified as either short-term or long-term operating leases. Finance Leases In 2018, we signed an agreement with an owner/lessor to construct and lease a new build-to-suit office building in Houston, Texas. The initial lease term is five years and commenced in late September 2021 after the new Houston office was ready for occupancy. In March 2022, we made our first cash lease payment. For the six months ended June 30, 2022, our cash lease payments were approximately $2 million. At the end of the initial lease term, we can negotiate to extend the lease term for an additional five years, subject to the approval of the participants; purchase the property subject to certain terms and conditions; or remarket the property to an unrelated third party. The lease contains a residual value guarantee of 100% of the total acquisition and construction costs. Lessor Our wholly owned subsidiary, Marathon E.G. Production Limited, is a lessor for residential housing in E.G., which is occupied by EGHoldings, a related party equity method investee – see Note 21 . The lease was classified as an operating lease and expires in 2024, with a lessee option to extend through 2034. Lease payments are fixed for the entire duration of the agreement at approximately $6 million per year. Our lease income is reported in other income in our consolidated statements of income for all periods presented. The undiscounted cash flows to be received under this lease agreement are summarized below. (In millions) Operating Lease Future Cash Receipts 2022 $ 3 2023 6 2024 6 2025 6 2026 6 Thereafter 48 Total undiscounted cash flows $ 75
Leases	Leases Lessee Balance sheet information related to right-of-use (“ROU”) assets and lease liabilities was as follows: (In millions) Balance Sheet Location: June 30, 2022 December 31, 2021 ROU assets: Operating leases Other noncurrent assets $ 119 $ 59 Finance leases Other noncurrent assets 26 28 Total ROU assets $ 145 $ 87 Lease liabilities: Current liabilities Operating leases Other current liabilities $ 78 $ 40 Finance leases Other current liabilities 6 6 Noncurrent liabilities Operating leases Deferred credits and other liabilities 45 23 Finance leases Deferred credits and other liabilities 20 24 Total lease liabilities $ 149 $ 93 Operating Leases We enter into various lease agreements to support our operations including drilling rigs, well fracturing equipment, compressors, buildings, vessels, vehicles and miscellaneous field equipment. We primarily act as a lessee in these transactions and the majority of our existing leases are classified as either short-term or long-term operating leases. Finance Leases In 2018, we signed an agreement with an owner/lessor to construct and lease a new build-to-suit office building in Houston, Texas. The initial lease term is five years and commenced in late September 2021 after the new Houston office was ready for occupancy. In March 2022, we made our first cash lease payment. For the six months ended June 30, 2022, our cash lease payments were approximately $2 million. At the end of the initial lease term, we can negotiate to extend the lease term for an additional five years, subject to the approval of the participants; purchase the property subject to certain terms and conditions; or remarket the property to an unrelated third party. The lease contains a residual value guarantee of 100% of the total acquisition and construction costs. Lessor Our wholly owned subsidiary, Marathon E.G. Production Limited, is a lessor for residential housing in E.G., which is occupied by EGHoldings, a related party equity method investee – see Note 21 . The lease was classified as an operating lease and expires in 2024, with a lessee option to extend through 2034. Lease payments are fixed for the entire duration of the agreement at approximately $6 million per year. Our lease income is reported in other income in our consolidated statements of income for all periods presented. The undiscounted cash flows to be received under this lease agreement are summarized below. (In millions) Operating Lease Future Cash Receipts 2022 $ 3 2023 6 2024 6 2025 6 2026 6 Thereafter 48 Total undiscounted cash flows $ 75
Leases	Leases Lessee Balance sheet information related to right-of-use (“ROU”) assets and lease liabilities was as follows: (In millions) Balance Sheet Location: June 30, 2022 December 31, 2021 ROU assets: Operating leases Other noncurrent assets $ 119 $ 59 Finance leases Other noncurrent assets 26 28 Total ROU assets $ 145 $ 87 Lease liabilities: Current liabilities Operating leases Other current liabilities $ 78 $ 40 Finance leases Other current liabilities 6 6 Noncurrent liabilities Operating leases Deferred credits and other liabilities 45 23 Finance leases Deferred credits and other liabilities 20 24 Total lease liabilities $ 149 $ 93 Operating Leases We enter into various lease agreements to support our operations including drilling rigs, well fracturing equipment, compressors, buildings, vessels, vehicles and miscellaneous field equipment. We primarily act as a lessee in these transactions and the majority of our existing leases are classified as either short-term or long-term operating leases. Finance Leases In 2018, we signed an agreement with an owner/lessor to construct and lease a new build-to-suit office building in Houston, Texas. The initial lease term is five years and commenced in late September 2021 after the new Houston office was ready for occupancy. In March 2022, we made our first cash lease payment. For the six months ended June 30, 2022, our cash lease payments were approximately $2 million. At the end of the initial lease term, we can negotiate to extend the lease term for an additional five years, subject to the approval of the participants; purchase the property subject to certain terms and conditions; or remarket the property to an unrelated third party. The lease contains a residual value guarantee of 100% of the total acquisition and construction costs. Lessor Our wholly owned subsidiary, Marathon E.G. Production Limited, is a lessor for residential housing in E.G., which is occupied by EGHoldings, a related party equity method investee – see Note 21 . The lease was classified as an operating lease and expires in 2024, with a lessee option to extend through 2034. Lease payments are fixed for the entire duration of the agreement at approximately $6 million per year. Our lease income is reported in other income in our consolidated statements of income for all periods presented. The undiscounted cash flows to be received under this lease agreement are summarized below. (In millions) Operating Lease Future Cash Receipts 2022 $ 3 2023 6 2024 6 2025 6 2026 6 Thereafter 48 Total undiscounted cash flows $ 75

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives For further information regarding the fair value measurement of derivative instruments, see Note 14 . All of our commodity derivatives are subject to enforceable master netting arrangements or similar agreements under which we report net amounts. The following tables present the gross fair values of derivative instruments and the reported net amounts along with where they appear on the consolidated balance sheets. June 30, 2022 (In millions) Asset Liability Net Asset (Liability) Balance Sheet Location Not Designated as Hedges Commodity $ 2 $ 2 $ — Other current assets Commodity 4 83 (79) Other current liabilities Total Not Designated as Hedges $ 6 $ 85 $ (79) Cash Flow Hedges Interest Rate $ 4 $ — $ 4 Other current assets Interest Rate 12 — 12 Other noncurrent assets Total Designated Hedges $ 16 $ — $ 16 Total $ 22 $ 85 $ (63) December 31, 2021 (In millions) Asset Liability Net Asset (Liability) Balance Sheet Location Not Designated as Hedges Commodity 1 8 (7) Other current liabilities Interest Rate 27 — 27 Other noncurrent assets Total Not Designated as Hedges $ 28 $ 8 $ 20 Cash Flow Hedges Interest Rate $ — $ 3 $ (3) Other current liabilities Interest Rate — 2 (2) Deferred credits and other liabilities Total Designated Hedges $ — $ 5 $ (5) Total $ 28 $ 13 $ 15 Derivatives Not Designated as Hedges Commodity Derivatives We have entered into multiple crude oil and natural gas derivatives indexed to the respective indices as noted in the table below, related to a portion of our forecasted U.S. sales through 2023. These derivatives consist of three-way collars, two-way collars and NYMEX roll basis swaps. Three-way collars consist of a sold call (ceiling), a purchased put (floor) and a sold put. The ceiling price is the maximum we will receive for the contract volumes; the floor is the minimum price we will receive, unless the market price falls below the sold put strike price. In this case, we receive the NYMEX WTI price plus the difference between the floor and the sold put price. The following table sets forth outstanding derivative contracts as of June 30, 2022, and the weighted average prices for those contracts: 2022 2023 Third Quarter Fourth Quarter First Quarter Crude Oil NYMEX WTI Three-Way Collars Volume (Bbls/day) 30,000 30,000 Weighted average price per Bbl: Ceiling $ 97.52 $ 97.52 Floor $ 56.67 $ 56.67 Sold put $ 46.67 $ 46.67 NYMEX Roll Basis Swaps Volume (Bbls/day) 60,000 60,000 Weighted average price per Bbl $ 0.67 $ 0.67 Natural Gas Henry Hub (“HH”) Two-Way Collars Volume (MMBtu/day) 50,000 50,000 Weighted average price per MMBtu: Ceiling $ 19.28 $ 19.28 Floor $ 5.00 $ 5.00 Henry Hub Three-Way Collars Volume (MMBtu/day) 100,000 100,000 Weighted average price per MMBtu: Ceiling $ 7.13 $ 7.13 Floor $ 3.88 $ 3.88 Sold Put $ 2.88 $ 2.88 The unrealized and realized gain (loss) impact of our commodity derivative instruments appears in the table below and is reflected in net gain (loss) on commodity derivatives in the consolidated statements of income. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2022 2021 2022 2021 Unrealized gain (loss) on derivative instruments, net $ 43 $ (75) $ (71) $ (157) Realized gain (loss) on derivative instruments, net (a) $ (70) $ (91) $ (99) $ (162) (a) During the second quarter and first six months of 2022, net cash paid for settled derivative positions was $61 million and $89 million, respectively. During the second quarter and first six months of 2021, net cash paid for settled derivative positions was $84 million and $95 million, respectively. Interest Rate Swaps During 2020, we entered into forward starting interest rate swaps with a notional amount of $350 million to hedge variations in cash flows arising from fluctuations in the LIBOR benchmark interest rate related to forecasted interest payments of a future debt issuance in 2025. The expected proceeds of the future debt issuance were intended to refinance the $900 million 3.85% Senior Notes due 2025 (“2025 Notes”). In September 2021, we fully redeemed these 2025 Notes. In March 2022, we closed these positions and settled the interest rate swaps for proceeds of $44 million. During the six months ended June 30, 2022, we recorded a cumulative $17 million gain within net interest for these swaps. During the second quarter of 2021, we de-designated $25 million of the $320 million Houston office cash flow hedges (discussed further in the Derivatives Designated as Cash Flow Hedges section below), as the construction cost budget estimate was reduced. These interest rate swap contracts began to settle in January 2022. On June 10, 2022, we closed the $25 million de-designated hedges, which resulted in cash proceeds of approximately $2 million. As of June 30, 2022, the remaining open interest rate swaps for the Houston office (with a notional amount of $295 million) are still classified as cash flow hedges. The following table presents, by maturity date, information about our de-designated forward starting interest rate swap agreements. These positions were fully liquidated as of June 30, 2022. June 30, 2022 December 31, 2021 Maturity Date Aggregate Notional Amount (in millions) Weighted Average, LIBOR Aggregate Notional Amount (in millions) Weighted Average, LIBOR June 1, 2025 $ — — % $ 350 0.95 % September 9, 2026 $ — — % $ 25 1.45 % Derivatives Designated as Cash Flow Hedges During 2019, we entered into forward starting interest rate swaps with a total notional amount of $320 million to hedge variations in cash flows related to the 1-month LIBOR component of future lease payments of our future Houston office. During the second quarter of 2021, we de-designated $25 million of these hedges as the construction cost budget estimate associated with the project was reduced (see discussion in preceding section). The notional amount of open interest rate swaps for the Houston office is $295 million. The Houston office lease commenced in September 2021, however our first cash lease payment for February 2022 rent was paid in March. The first settlement date for the interest rate swaps was in January 2022. The last swap will mature in September 2026. During the second quarter and first six months of 2022, net cash paid for the settled interest rate swap positions was $1 million and $2 million, respectively. As of June 30, 2022, we expect to reclassify $5 million from accumulated other comprehensive income into the income statement over the next twelve months. See Note 12 for further details regarding the lease of the Houston office. The following table presents, by maturity date, information about our interest rate swap agreements, including the fixed weighted average LIBOR. June 30, 2022 December 31, 2021 Maturity Date Aggregate Notional Amount (in millions) Weighted Average, LIBOR Aggregate Notional Amount (in millions) Weighted Average, LIBOR September 9, 2026 $ 295 1.52 % $ 295 1.52 %

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Values – Recurring The following tables present assets and liabilities accounted for at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 by hierarchy level. June 30, 2022 (In millions) Level 1 Level 2 Level 3 Total Derivative instruments, assets Interest rate - designated as cash flow hedges — 16 — 16 Derivative instruments, assets $ — $ 16 $ — $ 16 Derivative instruments, liabilities Commodity (a) $ (23) $ (56) $ — $ (79) Derivative instruments, liabilities $ (23) $ (56) $ — $ (79) Total $ (23) $ (40) $ — $ (63) December 31, 2021 (In millions) Level 1 Level 2 Level 3 Total Derivative instruments, assets Interest rate - not designated as cash flow hedges $ — $ 27 $ — $ 27 Derivative instruments, assets $ — $ 27 $ — $ 27 Derivative instruments, liabilities Commodity (a) $ (2) $ (5) $ — $ (7) Interest rate - designated as cash flow hedges — (5) — (5) Derivative instruments, liabilities $ (2) $ (10) $ — $ (12) Total $ (2) $ 17 $ — $ 15 (a) Commodity derivative instruments are recorded on a net basis in our consolidated balance sheet. See Note 13 . Commodity derivatives include three-way collars, two-way collars and NYMEX roll basis swaps. These instruments are measured at fair value using either a Black-Scholes or a modified Black-Scholes Model. For commodity swaps, inputs to the models include only commodity prices and interest rates and are categorized as Level 1 because all assumptions and inputs are observable in active markets throughout the term of the instruments. For three-way collars, inputs to the models include commodity prices and implied volatility and are categorized as Level 2 because predominantly all assumptions and inputs are observable in active markets throughout the term of the instruments. The forward starting interest rate swaps are measured at fair value with a market approach using actionable broker quotes, which are Level 2 inputs. See Note 13 for detail on the forward starting interest rate swaps. Fair Values – Nonrecurring See Note 10 for detail on our fair values related to impairments. Fair Values – Financial Instruments Our current assets and liabilities include financial instruments, the most significant of which are receivables, the current portion of our long-term debt and payables. We believe the carrying values of our receivables and payables approximate fair value. Our fair value assessment incorporates a variety of considerations, including (1) the short-term duration of the instruments, (2) our credit rating and (3) our historical incurrence of and expected future insignificant bad debt expense, which includes an evaluation of counterparty credit risk. The following table summarizes financial instruments, excluding receivables, payables and derivative financial instruments, and their reported fair values by individual balance sheet line item at June 30, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 (In millions) Fair Value Carrying Amount Fair Value Carrying Amount Financial assets Current assets $ — $ — $ 11 $ 10 Other noncurrent assets 10 28 12 27 Total financial assets $ 10 $ 28 $ 23 $ 37 Financial liabilities Current liabilities $ 110 $ 166 $ 99 $ 136 Long-term debt, including current portion (a) 3,996 4,000 4,705 4,033 Deferred credits and other liabilities 16 15 46 46 Total financial liabilities $ 4,122 $ 4,181 $ 4,850 $ 4,215 (a) Excludes debt issuance costs. Fair values of our financial assets included in other noncurrent assets, and of our financial liabilities included in other current liabilities and deferred credits and other liabilities, are measured using an income approach and most inputs are internally generated, which results in a Level 3 classification. Estimated future cash flows are discounted using a rate deemed appropriate to obtain the fair value.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Revolving Credit Facility As of June 30, 2022, we had no borrowings against our $3.1 billion unsecured revolving credit facility (“Credit Facility”). On July 28, 2022, we executed the seventh amendment to our Credit Facility. The primary changes to the Credit Facility effected by this amendment were to (i) extend the maturity date of the Credit Facility by three years to July 28, 2027, (ii) decrease the size of the Credit Facility from $3.1 billion to $2.5 billion, (iii) replace the LIBOR interest rate benchmark with the secured overnight financing rate (“SOFR”) and (iv) implement certain revisions to the Pricing Schedule. The Credit Facility includes a covenant requiring our total debt to total capitalization ratio not to exceed 65% as of the last day of each fiscal quarter. In the event of a default, the lenders holding more than half of the commitments may terminate the commitments under the Credit Facility and require the immediate repayment of all outstanding borrowings and the cash collateralization of all outstanding letters of credit under the Credit Facility. As of June 30, 2022, we were in compliance with this covenant with a ratio of 19%. Debt Redemption In May 2022, we redeemed the $32 million 9.375% Senior Notes on the maturity date. Long-term debt At June 30, 2022, we had $4.0 billion of total long-term debt outstanding, which includes $273 million of long-term debt due within one year. Included in long-term debt due within one year is $200 million in 2.0% Bonds which feature a mandatory purchase on April 1, 2023. We currently intend to retire our outstanding long-term debt as it matures. Refer to our 2021 Annual Report on Form 10-K for a listing of our long-term debt maturities.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity During the first six months of 2022, we repurchased approximately $1.4 billion of shares of our common stock pursuant to the share repurchase program. On May 4, 2022, our Board of Directors increased our remaining share repurchase program to $2.5 billion. The total remaining share repurchase authorization was approximately $2.0 billion at June 30, 2022. Purchases under the program are made at our discretion and may be in either open market transactions, including block purchases, or in privately negotiated transactions using cash on hand, cash generated from operations or proceeds from potential asset sales. This program may be changed based upon our financial condition or changes in market conditions and is subject to termination prior to completion. Additionally, during the first six months of 2022 we repurchased $21 million of shares related to our tax withholding obligation associated with the vesting of employee restricted stock awards and restricted stock units; these repurchases do not impact our share repurchase program authorization. Subsequent to the quarter, we repurchased approximately $282 million of shares of our common stock through August 3, 2022.

Incentive Based Compensation

Incentive Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Incentive Based Compensation	Incentive Based Compensation Stock options, restricted stock and restricted stock units The following table presents a summary of activity for the first six months of 2022: Stock Options Restricted Stock & Units Number of Shares Weighted Average Exercise Price Number of Shares & Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 4,274,304 $ 22.13 5,888,242 $ 10.98 Granted — $ — 1,428,041 $ 22.89 Exercised/Vested (1,842,093) $ 14.41 (2,738,788) $ 12.01 Canceled (167,906) $ 34.55 (104,351) $ 13.49 Outstanding at June 30, 2022 2,264,305 $ 27.48 4,473,144 $ 14.09 Stock-based performance unit awards During the first six months of 2022, we granted 167,043 stock-based performance units to eligible officers, which are settled in shares. The grant date fair value per unit was $34.07. During the first six months of 2022, we also granted 167,043 stock-based performance units to eligible officers, which are settled in cash. At the grant date for these performance units, each unit represents the value of one share of our common stock. The fair value of each cash-settled performance unit was $22.63 as of June 30, 2022.

Defined Benefit Postretirement

Defined Benefit Postretirement Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Defined Benefit Postretirement Plans	Defined Benefit Postretirement Plans The following summarizes the components of net periodic benefit costs (credits): Three Months Ended June 30, Pension Benefits Other Benefits (In millions) 2022 2021 2022 2021 Service cost $ 3 $ 4 $ — $ — Interest cost 2 2 1 1 Expected return on plan assets (3) (2) — — Amortization: – prior service credit (1) (1) (4) (4) – actuarial loss 1 1 — — Net settlement loss (a) — 5 — — Net periodic benefit costs (credits) (b) $ 2 $ 9 $ (3) $ (3) Six Months Ended June 30, Pension Benefits Other Benefits (In millions) 2022 2021 2022 2021 Service cost $ 7 $ 8 $ — $ — Interest cost 4 4 1 1 Expected return on plan assets (5) (4) — — Amortization: – prior service credit (3) (3) (8) (8) – actuarial loss 1 3 1 1 Net settlement loss (a) — 5 — — Net periodic benefit costs (credits) (b) $ 4 $ 13 $ (6) $ (6) (a) Settlements are recognized as they occur, once it is probable that lump sum payments from a plan for a given year will exceed the plan’s total service and interest cost for that year. (b) Net periodic benefit costs (credits) reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years. During the first six months of 2022, we made contributions of $9 million to our funded pension plan. We also made a payment of $5 million related to our other postretirement benefit plans. We expect to contribute an additional $8 million in contributions to our funded pension plan this year.

Reclassifications Out of Accumu

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	Reclassifications Out of Accumulated Other Comprehensive Income (Loss) The following table presents a summary of amounts reclassified from accumulated other comprehensive income (loss): Three Months Ended June 30, Six Months Ended June 30, (In millions) 2022 2021 2022 2021 Income Statement Line Postretirement and postemployment plans Amortization of prior service credit $ 5 $ 5 $ 11 $ 11 Other net periodic benefit costs Amortization of actuarial loss (1) (1) (2) (4) Other net periodic benefit costs Net settlement loss — (5) — (5) Other net periodic benefit costs Interest rate swaps Reclassification of de-designated forward interest rate swaps — (30) — (28) Net interest and other (1) — (2) — Provision (benefit) for income taxes Total reclassifications of (income) expense, net of tax (a) $ 3 $ (31) $ 7 $ (26) Net income (loss)

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Six Months Ended June 30, (In millions) 2022 2021 Included in operating activities: Interest paid $ 99 $ 123 Income taxes paid to (received from) taxing authorities, net of refunds $ 93 $ 9 Noncash investing activities: Increase in asset retirement costs $ 3 $ 38 Other noncash investing activities include accrued capital expenditures for the six months ended June 30, 2022 and 2021 of $116 million and $85 million, respectively.

Equity Method Investments

Equity Method Investments	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments During the periods ended June 30, 2022 and December 31, 2021 our equity method investees were considered related parties. Our investment in our equity method investees are summarized in the following table: (In millions) Ownership as of June 30, 2022 June 30, 2022 December 31, 2021 EGHoldings (a) 56% $ 226 $ 148 Alba Plant LLC (b) 52% 166 154 AMPCO (c) 45% 136 148 Total $ 528 $ 450 (a) EGHoldings is engaged in LNG production activity. (b) Alba Plant LLC processes LPG. (c) AMPCO is engaged in methanol production activity. Summarized, 100% combined financial information for equity method investees is as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2022 2021 2022 2021 Income data: Revenues and other income $ 459 $ 246 $ 833 $ 481 Income (loss) from operations 306 111 535 207 Net income (loss) $ 272 $ 85 $ 476 $ 157 Revenues from related parties were $7 million and $15 million for the three and six months ended June 30, 2022, respectively, $8 million and $16 million for the three and six months ended June 30, 2021, respectively, with the majority related to EGHoldings in all periods. Cash received from equity investees is classified as dividends or return of capital on the Consolidated Statements of Cash Flows. Dividends from equity method investees are reflected in the Operating activities section in Equity Method Investments, net while return of capital is reflected in the Investing activities section. Dividends and return of capital received by us totaled $146 million and $200 million for the three and six months ended June 30, 2022, respectively, and $50 million and $81 million for the three and six months ended June 30, 2021, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the second quarter of 2019, Marathon E.G. Production Limited (“MEGPL”), a consolidated and wholly owned subsidiary, signed a series of agreements to process third-party Alen Unit gas through existing infrastructure located in Punta Europa, E.G. Our equity method investee, Alba Plant LLC, is also a party to some of the agreements. These agreements require (subject to certain limitations) MEGPL to indemnify the owners of the Alen Unit against injury to Alba Plant LLC’s personnel and damage to or loss of Alba Plant LLC’s automobiles, as well as third party claims caused by Alba Plant LLC and certain environmental liabilities arising from certain hydrocarbons in the custody of Alba Plant LLC. At this time, we cannot reasonably estimate this obligation as we do not have any history of prior indemnification claims or environmental discharge or contamination. Therefore, we have not recorded a liability with respect to these indemnities since the amount of potential future payments under these indemnification clauses is not determinable. The agreements to process the third-party Alen Unit gas required the execution of third-party guarantees by Marathon Oil Corporation in favor of the Alen Unit’s owners. Two separate guarantees were executed during the second quarter of 2020; one for a maximum of approximately $91 million pertaining to the payment obligations of Equatorial Guinea LNG Operations, S.A. and another for a maximum of $25 million pertaining to the payment obligations of Alba Plant LLC. Payment by us would be required if any of those entities fails to honor its payment obligations pursuant to the relevant agreements with the owners of the Alen Unit. Certain owners of the Alen Unit, or their affiliates, are also direct or indirect shareholders in Equatorial Guinea LNG Operations, S.A. and Alba Plant LLC. Each guarantee expires no later than December 31, 2027. We measured these guarantees at fair value using the net present value of premium payments we expect to receive from our investees. Our liability for these guarantees was approximately $4 million as of June 30, 2022. Each of Equatorial Guinea LNG Operations, S.A. and Equatorial Guinea LNG Train 1, S.A. provided us with a pledge of its receivables as recourse against any payments we may make under the guaranty of Equatorial Guinea LNG Operations, S.A.’s performance. Various groups, including the State of North Dakota and three Indian tribes (the “Three Affiliated Tribes”) represented by the Bureau of Indian Affairs, have been involved in a dispute regarding the ownership of certain lands underlying the Missouri River and Little Missouri River (the “Disputed Land”) from which we currently produce. As a result, as of June 30, 2022, we have a $145 million current liability in suspended royalty and working interest revenue, including interest, of which $133 million was included within accounts payable and $12 million related to accrued interest and was included within other current liabilities on our consolidated balance sheet. Additionally, we have a long-term receivable of $25 million for capital and expenses. The United States Department of the Interior (“DOI”) has addressed the United States’ position with respect to this dispute several times over the past five years with conflicting opinions. In January 2017, the DOI issued an opinion that the Disputed Land is held in trust for the Three Affiliated Tribes, then in June 2018 and May 2020 the DOI issued opinions concluding that the State of North Dakota held title to the Disputed Land. Most recently, on February 4, 2022, the DOI issued an opinion (“M-Opinion”) concluding the DOI’s position that the Disputed Land is held in trust for the Three Affiliated Tribes. While the M-Opinion is binding on all agencies within the DOI, it is not legally binding on third parties, including Marathon Oil, or a court. Depending on the ultimate outcome of this title dispute, the Three Affiliated Tribes could challenge the validity of certain of our leases relating to a portion of the disputed land, and if such challenge were successful it could result in operational delays and additional costs to us. Given the uncertainty in matters such as these, we are unable to predict the ultimate outcome of this matter at this time; however, we believe the resolution of this matter will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. We are a defendant in a number of legal and administrative proceedings arising in the ordinary course of business including, but not limited to, royalty claims, contract claims, tax disputes and environmental claims. While the ultimate outcome and impact to us cannot be predicted with certainty, we believe the resolution of these proceedings will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. In addition, we may also be subject to retained liabilities with respect to certain divested assets by operation of law. For example, we are exposed to the risk that owners and/or operators of assets purchased from us become unable to satisfy plugging or abandonment obligations that attach to those assets. In that event, due to operation of law, we may be required to assume plugging or abandonment obligations for those assets. Although we have established reserves for such liabilities, we could be required to accrue additional amounts in the future and these amounts could be material. Marathon Oil has been named in various lawsuits alleging royalty underpayments in our domestic operations. We intend to vigorously defend ourselves against such claims. For instance, Marathon Oil has been named in a lawsuit alleging improper royalty deductions in certain of our Oklahoma operations, and plaintiffs have sought class certification, which the court has so far denied. We have accrued for potential liabilities associated with these lawsuits based on currently available information; however, actual losses may exceed our accruals or we could be required to accrue additional amounts in the future. In January 2020, we received a Notice of Violation from the EPA related to the Clean Air Act. We are actively negotiating a draft consent decree with the EPA containing certain proposed injunctive terms relating to this enforcement action. The enforcement action will likely include monetary sanctions and implementation of both environmental mitigation projects and injunctive terms, which would increase both our development costs and operating costs. Given the uncertainty in matters such as these, we are unable to predict the ultimate outcome of this matter at this time. However, we believe that any penalties, mitigation costs or corrective actions that may result from this matter will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. We have incurred and will continue to incur capital, operating and maintenance and remediation expenditures as a result of environmental laws and regulations. If these expenditures, as with all costs, are not ultimately offset by the prices we receive for our products and services, our operating results will be adversely affected. We believe that substantially all of our competitors must comply with similar environmental laws and regulations. However, the specific impact on each competitor may vary depending on a number of factors, including the age and location of its operating facilities, marketing areas and production processes. These laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites. Penalties may be imposed for noncompliance. At June 30, 2022, accrued liabilities for remediation relating to environmental laws and regulations were not material. It is not presently possible to estimate the ultimate amount of all remediation cost that might be incurred or the penalties that may be imposed.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	These consolidated financial statements are unaudited; however, in the opinion of management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal recurring nature unless disclosed otherwise. These consolidated financial statements, including notes, have been prepared in accordance with the applicable rules of the SEC and do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2021 Annual Report on Form 10-K. The results of operations for the second quarter and first six months of 2022 are not necessarily indicative of the results to be expected for the full year.

Income and Dividends per Comm_2

Income and Dividends per Common Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Income (Loss) Per Share, Basic and Diluted	The per share calculations below exclude 2 million of stock options for the three and six months ended June 30, 2022 and 4 million and 5 million of stock options for the three and six months ended June 30, 2021, respectively, that were antidilutive. Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data) 2022 2021 2022 2021 Net income $ 966 $ 16 $ 2,270 $ 113 Weighted average common shares outstanding 703 789 717 790 Effect of dilutive securities 2 — 2 1 Weighted average common shares, diluted 705 789 719 791 Net income per share: Basic $ 1.37 $ 0.02 $ 3.17 $ 0.14 Diluted $ 1.37 $ 0.02 $ 3.16 $ 0.14 Dividends per share $ 0.08 $ 0.04 $ 0.15 $ 0.07

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present our revenues from contracts with customers disaggregated by product type and geographic areas for the three and six months ended June 30: United States Three Months Ended June 30, 2022 (In millions) Eagle Ford Bakken Oklahoma Northern Delaware Other U.S. Total Crude oil and condensate $ 544 $ 749 $ 138 $ 100 $ 42 $ 1,573 Natural gas liquids 55 92 69 15 8 239 Natural gas 56 46 95 21 10 228 Other 1 — — — 48 49 Revenues from contracts with customers $ 656 $ 887 $ 302 $ 136 $ 108 $ 2,089 Three Months Ended June 30, 2021 (In millions) Eagle Ford Bakken Oklahoma Northern Delaware Other U.S. Total Crude oil and condensate $ 353 $ 411 $ 71 $ 77 $ 24 $ 936 Natural gas liquids 33 48 37 11 2 131 Natural gas 29 17 41 5 (1) 91 Other 2 — — — 29 31 Revenues from contracts with customers $ 417 $ 476 $ 149 $ 93 $ 54 $ 1,189 Six Months Ended June 30, 2022 (In millions) Eagle Ford Bakken Oklahoma Northern Delaware Other U.S. Total Crude oil and condensate $ 1,003 $ 1,401 $ 237 $ 188 $ 85 $ 2,914 Natural gas liquids 99 181 128 30 17 455 Natural gas 89 89 151 33 17 379 Other 3 — — — 52 55 Revenues from contracts with customers $ 1,194 $ 1,671 $ 516 $ 251 $ 171 $ 3,803 Six Months Ended June 30, 2021 (In millions) Eagle Ford Bakken Oklahoma Northern Delaware Other U.S. Total Crude oil and condensate $ 612 $ 783 $ 132 $ 154 $ 46 $ 1,727 Natural gas liquids 59 89 74 20 5 247 Natural gas 76 42 150 30 8 306 Other 4 — — — 37 41 Revenues from contracts with customers $ 751 $ 914 $ 356 $ 204 $ 96 $ 2,321 International (E.G.) Three Months Ended June 30, Six Months Ended June 30, (In millions) 2022 2021 2022 2021 Crude oil and condensate $ 71 $ 58 $ 111 $ 95 Natural gas liquids — 1 1 2 Natural gas 7 5 12 12 Other 1 1 2 1 Revenues from contracts with customers $ 79 $ 65 $ 126 $ 110

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended June 30, 2022 (In millions) U.S. Int’l Not Allocated to Segments Total Revenues from contracts with customers $ 2,089 $ 79 $ — $ 2,168 Net gain (loss) on commodity derivatives (70) — 43 (b) (27) Income from equity method investments — 152 — 152 Net loss on disposal of assets — — (1) (1) Other income 2 2 7 11 Less costs and expenses: Production 150 14 — 164 Shipping, handling and other operating 187 1 3 191 Exploration 8 — — 8 Depreciation, depletion and amortization 415 16 5 436 Impairments — — 2 2 Taxes other than income 139 — 1 140 General and administrative 27 3 38 68 Net interest and other — — 54 54 Other net periodic benefit costs — — (5) (5) Income tax provision (benefit) 249 39 (9) 279 Segment income (loss) $ 846 $ 160 $ (40) $ 966 Total assets $ 15,757 $ 1,059 $ 1,470 $ 18,286 Capital expenditures (a) $ 372 $ 1 $ 2 $ 375 (a) Includes accruals. (b) Unrealized gain on commodity derivative instruments (See Note 13 ). Three Months Ended June 30, 2021 (In millions) U.S. Int’l Not Allocated to Segments Total Revenues from contracts with customers $ 1,189 $ 65 $ — $ 1,254 Net gain (loss) on commodity derivatives (91) — (75) (b) (166) Income (loss) from equity method investments — 49 — 49 Net gain on disposal of assets — — 1 1 Other income 3 2 — 5 Less costs and expenses: Production 113 13 — 126 Shipping, handling and other operating 153 2 12 167 Exploration 18 — 7 25 Depreciation, depletion and amortization 506 18 8 532 Impairments — — 46 (c) 46 Taxes other than income 76 — (2) 74 General and administrative 27 4 37 68 Net interest and other — — 59 (d) 59 Other net periodic benefit costs — — 1 1 Loss on early extinguishment of debt — — 19 (e) 19 Income tax provision (benefit) 1 11 (2) 10 Segment income (loss) $ 207 $ 68 $ (259) $ 16 Total assets $ 15,747 $ 1,047 $ 1,006 $ 17,800 Capital expenditures (a) $ 284 $ 2 $ 3 $ 289 (a) Includes accruals. (b) Unrealized loss on commodity derivative instruments (See Note 13 ). (c) Includes impairments of $24 million associated with central facilities in Eagle Ford (See Note 10 ) and $22 million associated with decommissioning costs for non-producing long-lived assets in the Gulf of Mexico (‘GOM’) (See Note 10 , Note 11 and Note 22 ). (d) Includes a $22 million loss on 2022 interest rate swaps and a $31 million gain on 2025 interest rate swaps, neither of which were designated as cash flow hedges as of June 30, 2021 (See Note 13 ). Six Months Ended June 30, 2022 (In millions) U.S. Int’l Not Allocated to Segments Total Revenues from contracts with customers $ 3,803 $ 126 $ — $ 3,929 Net loss on commodity derivatives (99) — (71) (b) (170) Income from equity method investments — 279 — 279 Net loss on disposal of assets — — (1) (1) Other income 6 4 9 19 Less costs and expenses: Production 291 25 — 316 Shipping, handling and other operating 337 10 29 376 Exploration 19 — — 19 Depreciation, depletion and amortization 819 31 9 859 Impairments — — 2 2 Taxes other than income 238 — 6 244 General and administrative 57 6 78 141 Net interest and other — — 76 (c) 76 Other net periodic benefit credit — — (9) (9) Income tax provision (benefit) 442 62 (742) (d) (238) Segment income $ 1,507 $ 275 $ 488 $ 2,270 Total assets $ 15,757 $ 1,059 $ 1,470 $ 18,286 Capital expenditures (a) $ 718 $ — $ 5 $ 723 (a) Includes accruals. (b) Unrealized loss on commodity derivative instruments (See Note 14 ). (c) Includes a $17 million gain on 2025 interest rate swaps (See Note 13 ). (d) Includes a $685 million benefit related to the partial release of our valuation allowance (See Note 6 ). Six Months Ended June 30, 2021 (In millions) U.S. Int’l Not Allocated to Segments Total Revenue from contracts with customers $ 2,321 $ 110 $ — $ 2,431 Net gain on commodity derivatives (162) — (157) (b) (319) Loss from equity method investments — 93 — 93 Net gain on disposal of assets — — 1 1 Other income 4 3 1 8 Less costs and expenses: Production 224 23 — 247 Shipping, handling and other operating 297 6 16 319 Exploration 39 — 7 46 Depreciation, depletion and amortization 978 37 13 1,028 Impairments — — 47 (c) 47 Taxes other than income 150 — (2) 148 General and administrative 50 6 101 (d) 157 Net interest and other — — 72 (e) 72 Other net periodic benefit credit — — (2) (2) Loss on early extinguishment of debt — — 19 (f) 19 Income tax provision (benefit) 6 16 (2) 20 Segment income (loss) $ 419 $ 118 $ (424) $ 113 Total assets $ 15,747 $ 1,047 $ 1,006 $ 17,800 Capital expenditures (a) $ 467 $ 2 $ 4 $ 473 (a) Includes accruals. (b) Unrealized loss on commodity derivative instruments (See Note 14 ). (c) Includes second quarter 2021 impairments of $24 million associated with central facilities in Eagle Ford (See Note 10 ) and $22 million associated with decommissioning costs for non-producing long-lived assets in GOM (See Note 10 , Note 11 and Note 22 ). (d) Includes $13 million associated with the termination of an aircraft lease agreement and $12 million arising from severance expenses associated with a workforce reduction. (e) Includes a $19 million gain on 2022 interest rate swaps and a $31 million gain on 2025 interest rate swaps, neither of which were designated as cash flow hedges as of June 30, 2021 (See Note 13 ). (f) Represents costs related to a make-whole provision premium and the write off of unamortized discount and issuance costs related to the redemption of the 2022 Notes in April 2021.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	For the three and six months ended June 30, 2022 and 2021, our effective income tax rates were as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Effective income tax rate 22 % 38 % (12) % 15 %

Credit Losses (Tables)

Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2022
Credit Loss [Abstract]
Accounts Receivable, Allowance for Credit Loss	Changes in the allowance for doubtful accounts balance were as follows: (In millions) June 30, 2022 December 31, 2021 Beginning balance as of January 1 $ 15 $ 22 Current period provision (2) 3 Current period write offs — (5) Recoveries of amounts previously reserved — (5) Ending balance $ 13 $ 15

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	(In millions) June 30, 2022 December 31, 2021 Crude oil and natural gas $ 15 $ 8 Supplies and other items 78 69 Inventories $ 93 $ 77

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	(In millions) June 30, 2022 December 31, 2021 United States $ 13,989 $ 14,097 International 315 347 Corporate 53 55 Net property, plant and equipment $ 14,357 $ 14,499

Impairments (Tables)

Impairments (Tables)	6 Months Ended
	Jun. 30, 2022
Impairment Expense [Abstract]
Summary of Impaired Assets	The following table summarizes impairment charges of proved properties and their corresponding fair values. Three Months Ended June 30, 2022 2021 (In millions) Fair Value Impairment Fair Value Impairment Long-lived assets held for use $ — $ — $ — $ 24 Asset retirement costs of long-lived assets $ — $ 2 $ — $ 22 Six Months Ended June 30, 2022 2021 (In millions) Fair Value Impairment Fair Value Impairment Long-lived assets held for use $ — $ — $ — $ 25 Asset retirement costs of long-lived assets $ — $ 2 $ — $ 22

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Changes in Asset Retirement Obligations	Asset retirement obligations primarily consist of estimated costs to remove, dismantle and restore land or seabed at the end of oil and gas production operations. Changes in asset retirement obligations were as follows: June 30, (In millions) 2022 2021 Beginning balance as of January 1 $ 316 $ 254 Incurred liabilities, including acquisitions 8 6 Settled liabilities, including dispositions (3) (2) Accretion expense (included in depreciation, depletion and amortization) 7 6 Revisions of estimates (5) 32 Ending balance as of June 30, total $ 323 $ 296 Ending balance as of June 30, short-term $ 46 $ 24

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Supplemental Balance Sheet Information	Balance sheet information related to right-of-use (“ROU”) assets and lease liabilities was as follows: (In millions) Balance Sheet Location: June 30, 2022 December 31, 2021 ROU assets: Operating leases Other noncurrent assets $ 119 $ 59 Finance leases Other noncurrent assets 26 28 Total ROU assets $ 145 $ 87 Lease liabilities: Current liabilities Operating leases Other current liabilities $ 78 $ 40 Finance leases Other current liabilities 6 6 Noncurrent liabilities Operating leases Deferred credits and other liabilities 45 23 Finance leases Deferred credits and other liabilities 20 24 Total lease liabilities $ 149 $ 93
Operating Lease, Undiscounted Cash Flows to be Received	The undiscounted cash flows to be received under this lease agreement are summarized below. (In millions) Operating Lease Future Cash Receipts 2022 $ 3 2023 6 2024 6 2025 6 2026 6 Thereafter 48 Total undiscounted cash flows $ 75

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in the Consolidated Balance Sheets	The following tables present the gross fair values of derivative instruments and the reported net amounts along with where they appear on the consolidated balance sheets. June 30, 2022 (In millions) Asset Liability Net Asset (Liability) Balance Sheet Location Not Designated as Hedges Commodity $ 2 $ 2 $ — Other current assets Commodity 4 83 (79) Other current liabilities Total Not Designated as Hedges $ 6 $ 85 $ (79) Cash Flow Hedges Interest Rate $ 4 $ — $ 4 Other current assets Interest Rate 12 — 12 Other noncurrent assets Total Designated Hedges $ 16 $ — $ 16 Total $ 22 $ 85 $ (63) December 31, 2021 (In millions) Asset Liability Net Asset (Liability) Balance Sheet Location Not Designated as Hedges Commodity 1 8 (7) Other current liabilities Interest Rate 27 — 27 Other noncurrent assets Total Not Designated as Hedges $ 28 $ 8 $ 20 Cash Flow Hedges Interest Rate $ — $ 3 $ (3) Other current liabilities Interest Rate — 2 (2) Deferred credits and other liabilities Total Designated Hedges $ — $ 5 $ (5) Total $ 28 $ 13 $ 15 The unrealized and realized gain (loss) impact of our commodity derivative instruments appears in the table below and is reflected in net gain (loss) on commodity derivatives in the consolidated statements of income. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2022 2021 2022 2021 Unrealized gain (loss) on derivative instruments, net $ 43 $ (75) $ (71) $ (157) Realized gain (loss) on derivative instruments, net (a) $ (70) $ (91) $ (99) $ (162) (a) During the second quarter and first six months of 2022, net cash paid for settled derivative positions was $61 million and $89 million, respectively. During the second quarter and first six months of 2021, net cash paid for settled derivative positions was $84 million and $95 million, respectively.
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table sets forth outstanding derivative contracts as of June 30, 2022, and the weighted average prices for those contracts: 2022 2023 Third Quarter Fourth Quarter First Quarter Crude Oil NYMEX WTI Three-Way Collars Volume (Bbls/day) 30,000 30,000 Weighted average price per Bbl: Ceiling $ 97.52 $ 97.52 Floor $ 56.67 $ 56.67 Sold put $ 46.67 $ 46.67 NYMEX Roll Basis Swaps Volume (Bbls/day) 60,000 60,000 Weighted average price per Bbl $ 0.67 $ 0.67 Natural Gas Henry Hub (“HH”) Two-Way Collars Volume (MMBtu/day) 50,000 50,000 Weighted average price per MMBtu: Ceiling $ 19.28 $ 19.28 Floor $ 5.00 $ 5.00 Henry Hub Three-Way Collars Volume (MMBtu/day) 100,000 100,000 Weighted average price per MMBtu: Ceiling $ 7.13 $ 7.13 Floor $ 3.88 $ 3.88 Sold Put $ 2.88 $ 2.88
Schedule of Interest Rate Swap Agreement	The following table presents, by maturity date, information about our de-designated forward starting interest rate swap agreements. These positions were fully liquidated as of June 30, 2022. June 30, 2022 December 31, 2021 Maturity Date Aggregate Notional Amount (in millions) Weighted Average, LIBOR Aggregate Notional Amount (in millions) Weighted Average, LIBOR June 1, 2025 $ — — % $ 350 0.95 % September 9, 2026 $ — — % $ 25 1.45 % The following table presents, by maturity date, information about our interest rate swap agreements, including the fixed weighted average LIBOR. June 30, 2022 December 31, 2021 Maturity Date Aggregate Notional Amount (in millions) Weighted Average, LIBOR Aggregate Notional Amount (in millions) Weighted Average, LIBOR September 9, 2026 $ 295 1.52 % $ 295 1.52 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present assets and liabilities accounted for at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 by hierarchy level. June 30, 2022 (In millions) Level 1 Level 2 Level 3 Total Derivative instruments, assets Interest rate - designated as cash flow hedges — 16 — 16 Derivative instruments, assets $ — $ 16 $ — $ 16 Derivative instruments, liabilities Commodity (a) $ (23) $ (56) $ — $ (79) Derivative instruments, liabilities $ (23) $ (56) $ — $ (79) Total $ (23) $ (40) $ — $ (63) December 31, 2021 (In millions) Level 1 Level 2 Level 3 Total Derivative instruments, assets Interest rate - not designated as cash flow hedges $ — $ 27 $ — $ 27 Derivative instruments, assets $ — $ 27 $ — $ 27 Derivative instruments, liabilities Commodity (a) $ (2) $ (5) $ — $ (7) Interest rate - designated as cash flow hedges — (5) — (5) Derivative instruments, liabilities $ (2) $ (10) $ — $ (12) Total $ (2) $ 17 $ — $ 15 (a) Commodity derivative instruments are recorded on a net basis in our consolidated balance sheet. See Note 13
Fair Value, by Balance Sheet Grouping	The following table summarizes financial instruments, excluding receivables, payables and derivative financial instruments, and their reported fair values by individual balance sheet line item at June 30, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 (In millions) Fair Value Carrying Amount Fair Value Carrying Amount Financial assets Current assets $ — $ — $ 11 $ 10 Other noncurrent assets 10 28 12 27 Total financial assets $ 10 $ 28 $ 23 $ 37 Financial liabilities Current liabilities $ 110 $ 166 $ 99 $ 136 Long-term debt, including current portion (a) 3,996 4,000 4,705 4,033 Deferred credits and other liabilities 16 15 46 46 Total financial liabilities $ 4,122 $ 4,181 $ 4,850 $ 4,215

Incentive Based Compensation (T

Incentive Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Options, Restricted Stock Awards and Restricted Stock Units Activity	The following table presents a summary of activity for the first six months of 2022: Stock Options Restricted Stock & Units Number of Shares Weighted Average Exercise Price Number of Shares & Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 4,274,304 $ 22.13 5,888,242 $ 10.98 Granted — $ — 1,428,041 $ 22.89 Exercised/Vested (1,842,093) $ 14.41 (2,738,788) $ 12.01 Canceled (167,906) $ 34.55 (104,351) $ 13.49 Outstanding at June 30, 2022 2,264,305 $ 27.48 4,473,144 $ 14.09

Defined Benefit Postretiremen_2

Defined Benefit Postretirement Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	The following summarizes the components of net periodic benefit costs (credits): Three Months Ended June 30, Pension Benefits Other Benefits (In millions) 2022 2021 2022 2021 Service cost $ 3 $ 4 $ — $ — Interest cost 2 2 1 1 Expected return on plan assets (3) (2) — — Amortization: – prior service credit (1) (1) (4) (4) – actuarial loss 1 1 — — Net settlement loss (a) — 5 — — Net periodic benefit costs (credits) (b) $ 2 $ 9 $ (3) $ (3) Six Months Ended June 30, Pension Benefits Other Benefits (In millions) 2022 2021 2022 2021 Service cost $ 7 $ 8 $ — $ — Interest cost 4 4 1 1 Expected return on plan assets (5) (4) — — Amortization: – prior service credit (3) (3) (8) (8) – actuarial loss 1 3 1 1 Net settlement loss (a) — 5 — — Net periodic benefit costs (credits) (b) $ 4 $ 13 $ (6) $ (6) (a) Settlements are recognized as they occur, once it is probable that lump sum payments from a plan for a given year will exceed the plan’s total service and interest cost for that year. (b) Net periodic benefit costs (credits) reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.

Reclassifications Out of Accu_2

Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Amounts Reclassified out of Accumulated Other Comprehensive Income (Loss)	The following table presents a summary of amounts reclassified from accumulated other comprehensive income (loss): Three Months Ended June 30, Six Months Ended June 30, (In millions) 2022 2021 2022 2021 Income Statement Line Postretirement and postemployment plans Amortization of prior service credit $ 5 $ 5 $ 11 $ 11 Other net periodic benefit costs Amortization of actuarial loss (1) (1) (2) (4) Other net periodic benefit costs Net settlement loss — (5) — (5) Other net periodic benefit costs Interest rate swaps Reclassification of de-designated forward interest rate swaps — (30) — (28) Net interest and other (1) — (2) — Provision (benefit) for income taxes Total reclassifications of (income) expense, net of tax (a) $ 3 $ (31) $ 7 $ (26) Net income (loss)

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Six Months Ended June 30, (In millions) 2022 2021 Included in operating activities: Interest paid $ 99 $ 123 Income taxes paid to (received from) taxing authorities, net of refunds $ 93 $ 9 Noncash investing activities: Increase in asset retirement costs $ 3 $ 38

Equity Method Investments (Tabl

Equity Method Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	During the periods ended June 30, 2022 and December 31, 2021 our equity method investees were considered related parties. Our investment in our equity method investees are summarized in the following table: (In millions) Ownership as of June 30, 2022 June 30, 2022 December 31, 2021 EGHoldings (a) 56% $ 226 $ 148 Alba Plant LLC (b) 52% 166 154 AMPCO (c) 45% 136 148 Total $ 528 $ 450 (a) EGHoldings is engaged in LNG production activity. (b) Alba Plant LLC processes LPG. (c) AMPCO is engaged in methanol production activity. Summarized, 100% combined financial information for equity method investees is as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2022 2021 2022 2021 Income data: Revenues and other income $ 459 $ 246 $ 833 $ 481 Income (loss) from operations 306 111 535 207 Net income (loss) $ 272 $ 85 $ 476 $ 157

Income and Dividends per Comm_3

Income and Dividends per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	2		4		2	5
Net income	$ 966	$ 1,304	$ 16	$ 97	$ 2,270	$ 113
Weighted average common shares outstanding (in shares)	703		789		717	790
Effect of dilutive securities (in shares)	2		0		2	1
Weighted average common shares, diluted (in shares)	705		789		719	791
Net income per share:
Basic (in dollars per share)	$ 1.37		$ 0.02		$ 3.17	$ 0.14
Diluted (in dollars per share)	1.37		0.02		3.16	0.14
Dividends per share (in dollars per share)	$ 0.08	$ 0.07	$ 0.04	$ 0.03	$ 0.15	$ 0.07

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Receivables from contract with customer	$ 1,300	$ 961

Revenues - Revenues from Contra

Revenues - Revenues from Contracts with Customers by Product Type and Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 2,168	$ 1,254	$ 3,929	$ 2,431
United States E&P
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,089	1,189	3,803	2,321
United States E&P | Eagle Ford
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	656	417	1,194	751
United States E&P | Bakken
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	887	476	1,671	914
United States E&P | Oklahoma
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	302	149	516	356
United States E&P | Northern Delaware
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	136	93	251	204
United States E&P | Other U.S.
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	108	54	171	96
United States E&P | Crude oil and condensate
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,573	936	2,914	1,727
United States E&P | Crude oil and condensate | Eagle Ford
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	544	353	1,003	612
United States E&P | Crude oil and condensate | Bakken
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	749	411	1,401	783
United States E&P | Crude oil and condensate | Oklahoma
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	138	71	237	132
United States E&P | Crude oil and condensate | Northern Delaware
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	100	77	188	154
United States E&P | Crude oil and condensate | Other U.S.
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	42	24	85	46
United States E&P | Natural gas liquids
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	239	131	455	247
United States E&P | Natural gas liquids | Eagle Ford
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	55	33	99	59
United States E&P | Natural gas liquids | Bakken
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	92	48	181	89
United States E&P | Natural gas liquids | Oklahoma
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	69	37	128	74
United States E&P | Natural gas liquids | Northern Delaware
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	15	11	30	20
United States E&P | Natural gas liquids | Other U.S.
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	8	2	17	5
United States E&P | Natural gas
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	228	91	379	306
United States E&P | Natural gas | Eagle Ford
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	56	29	89	76
United States E&P | Natural gas | Bakken
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	46	17	89	42
United States E&P | Natural gas | Oklahoma
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	95	41	151	150
United States E&P | Natural gas | Northern Delaware
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	21	5	33	30
United States E&P | Natural gas | Other U.S.
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	10	(1)	17	8
United States E&P | Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	49	31	55	41
United States E&P | Other | Eagle Ford
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1	2	3	4
United States E&P | Other | Bakken
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
United States E&P | Other | Oklahoma
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
United States E&P | Other | Northern Delaware
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
United States E&P | Other | Other U.S.
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	48	29	52	37
International E&P | International, Equatorial Guinea (E.G.)
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	79	65	126	110
International E&P | Crude oil and condensate | International, Equatorial Guinea (E.G.)
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	71	58	111	95
International E&P | Natural gas liquids | International, Equatorial Guinea (E.G.)
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	1	1	2
International E&P | Natural gas | International, Equatorial Guinea (E.G.)
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	7	5	12	12
International E&P | Other | International, Equatorial Guinea (E.G.)
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 1	$ 1	$ 2	$ 1

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment					2
Number of operating segments | segment					2
Revenues from contracts with customers	$ 2,168		$ 1,254		$ 3,929	$ 2,431
Net gain (loss) on commodity derivatives	(27)		(166)		(170)	(319)
Income from equity method investments	152		49		279	93
Net loss on disposal of assets	(1)		1		(1)	1
Other income	11		5		19	8
Less costs and expenses:
Production	164		126		316	247
Shipping, handling and other operating	191		167		376	319
Exploration	8		25		19	46
Depreciation, depletion and amortization	436		532		859	1,028
Impairments	2		46		2	47
Taxes other than income	140		74		244	148
General and administrative	68		68		141	157
Net interest and other	54		59		76	72
Other net periodic benefit costs	(5)		1		(9)	(2)
Loss on early extinguishment of debt	0		19		0	19
Income tax provision (benefit)	279		10		(238)	20
Segment income (loss)	966	$ 1,304	16	$ 97	2,270	113
Total assets	18,286		17,800		18,286	17,800	$ 16,994
Capital expenditures	375		289		723	473
Long-lived assets held for use impairment	0		24		0	25
Impairments	2				2	22
Loss on lease termination						13
Severance costs						12
Valuation allowance released					685
Eagle Ford | Central Facilities
Less costs and expenses:
Long-lived assets held for use impairment			24			24
Gulf of Mexico
Less costs and expenses:
Impairments			22
Gulf of Mexico | Non Producing Property
Less costs and expenses:
Impairments			22			22
Interest Rate Contract, Maturing June 1, 2025 | Not Designated as Hedges
Less costs and expenses:
Gain on interest rate swap			31			31
Interest Rate Contract, Maturing June 1, 2025 | Cash Flow Hedges
Less costs and expenses:
Gain on interest rate swap	17				17
Interest Rate Contract, Maturing November 1, 2022 | Not Designated as Hedges
Less costs and expenses:
Loss on interest rate swap			22
Gain on interest rate swap						19
Not Allocated to Segments
Segment Reporting Information [Line Items]
Revenues from contracts with customers	0		0		0	0
Net gain (loss) on commodity derivatives	43		(75)		(71)	(157)
Income from equity method investments	0		0		0	0
Net loss on disposal of assets	(1)		1		(1)	1
Other income	7		0		9	1
Less costs and expenses:
Production	0		0		0	0
Shipping, handling and other operating	3		12		29	16
Exploration	0		7		0	7
Depreciation, depletion and amortization	5		8		9	13
Impairments	2		46		2	47
Taxes other than income	1		(2)		6	(2)
General and administrative	38		37		78	101
Net interest and other	54		59		76	72
Other net periodic benefit costs	(5)		1		(9)	(2)
Loss on early extinguishment of debt			19			19
Income tax provision (benefit)	(9)		(2)		(742)	(2)
Segment income (loss)	(40)		(259)		488	(424)
Total assets	1,470		1,006		1,470	1,006
Capital expenditures	2		3		5	4
United States E&P
Segment Reporting Information [Line Items]
Revenues from contracts with customers	2,089		1,189		3,803	2,321
United States E&P | Eagle Ford
Segment Reporting Information [Line Items]
Revenues from contracts with customers	656		417		1,194	751
United States E&P | Operating Segments
Segment Reporting Information [Line Items]
Revenues from contracts with customers	2,089		1,189		3,803	2,321
Net gain (loss) on commodity derivatives	(70)		(91)		(99)	(162)
Income from equity method investments	0		0		0	0
Net loss on disposal of assets	0		0		0	0
Other income	2		3		6	4
Less costs and expenses:
Production	150		113		291	224
Shipping, handling and other operating	187		153		337	297
Exploration	8		18		19	39
Depreciation, depletion and amortization	415		506		819	978
Impairments	0		0		0	0
Taxes other than income	139		76		238	150
General and administrative	27		27		57	50
Net interest and other	0		0		0	0
Other net periodic benefit costs	0		0		0	0
Loss on early extinguishment of debt			0			0
Income tax provision (benefit)	249		1		442	6
Segment income (loss)	846		207		1,507	419
Total assets	15,757		15,747		15,757	15,747
Capital expenditures	372		284		718	467
Int'l E&P | Operating Segments
Segment Reporting Information [Line Items]
Revenues from contracts with customers	79		65		126	110
Net gain (loss) on commodity derivatives	0		0		0	0
Income from equity method investments	152		49		279	93
Net loss on disposal of assets	0		0		0	0
Other income	2		2		4	3
Less costs and expenses:
Production	14		13		25	23
Shipping, handling and other operating	1		2		10	6
Exploration	0		0		0	0
Depreciation, depletion and amortization	16		18		31	37
Impairments	0		0		0	0
Taxes other than income	0		0		0	0
General and administrative	3		4		6	6
Net interest and other	0		0		0	0
Other net periodic benefit costs	0		0		0	0
Loss on early extinguishment of debt			0			0
Income tax provision (benefit)	39		11		62	16
Segment income (loss)	160		68		275	118
Total assets	1,059		1,047		1,059	1,047
Capital expenditures	$ 1		$ 2		$ 0	$ 2

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	22%	38%	(12.00%)	15%
Valuation allowance released			$ 685

Credit Losses (Details)

Credit Losses (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance as of January 1	$ 15	$ 22
Current period provision	(2)	3
Current period write offs	0	(5)
Recoveries of amounts previously reserved	0	(5)
Ending balance	$ 13	$ 15

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Crude oil and natural gas	$ 15	$ 8
Supplies and other items	78	69
Inventories	$ 93	$ 77

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 14,357	$ 14,499
Exploratory well costs capitalized greater than one year after completion of drilling	34	80
Operating Segments | United States
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	13,989	14,097
Operating Segments | International
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	315	347
Corporate
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 53	$ 55

Impairments - Summary of Impair

Impairments - Summary of Impaired Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets held for use impairment	$ 0	$ 24	$ 0	$ 25
Asset retirement costs of long-lived assets, impairment	2		2	22
Fair Value
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets held for use	0	0	0	0
Asset retirement costs of long-lived assets	$ 0	$ 0	$ 0	$ 0

Impairments - Narrative (Detail

Impairments - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($) facility	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets held for use impairment	$ 0	$ 24	$ 0	$ 25
Number of impaired assets | facility		2
Asset retirement costs of long-lived assets, impairment	2		2	22
Asset retirement obligation	$ 323	$ 296	$ 323	296	$ 316	$ 254
Gulf of Mexico
Impaired Long-Lived Assets Held and Used [Line Items]
Asset retirement costs of long-lived assets, impairment		22
Asset retirement obligation		$ 29		$ 29		$ 7

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance as of January 1			$ 316	$ 254
Incurred liabilities, including acquisitions			8	6
Settled liabilities, including dispositions			(3)	(2)
Accretion expense (included in depreciation, depletion and amortization)			7	6
Revisions of estimates			(5)	32
Ending balance as of June 30, total	$ 323	$ 296	323	296
Asset retirement obligation, current	46	24	46	24
Impairments	$ 2		$ 2	22
Gulf of Mexico
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance as of January 1				7
Ending balance as of June 30, total		29		29
Asset retirement obligation, current		14		$ 14
Impairments		$ 22

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other noncurrent assets	Other noncurrent assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other noncurrent assets	Other noncurrent assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Deferred credits and other liabilities	Deferred credits and other liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Deferred credits and other liabilities	Deferred credits and other liabilities
ROU assets:
Operating leases	$ 119	$ 59
Finance leases	26	28
Total ROU assets	145	87
Current liabilities:
Operating leases	78	40
Finance leases	6	6
Liabilities, Noncurrent [Abstract]
Operating leases	45	23
Finance leases	20	24
Total lease liabilities	$ 149	$ 93

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Leases [Abstract]
Term of contract	5 years
Cash lease payments	$ 2
Finance lease extension term	5 years
Residual value guarantee	100%
Annual payments to be received	$ 6

Leases - Lease Payments to be R

Leases - Lease Payments to be Received (Details) $ in Millions	Jun. 30, 2022 USD ($)
Leases [Abstract]
2022	$ 3
2023	6
2024	6
2025	6
2026	6
Thereafter	48
Total undiscounted cash flows	$ 75

Derivatives - Balance Sheet Com

Derivatives - Balance Sheet Components (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Asset	$ 22	$ 28
Liability	85	13
Net Asset (Liability)	(63)	15
Not Designated as Hedges
Derivatives, Fair Value [Line Items]
Asset	6	28
Liability	85	8
Net Asset (Liability)	(79)	20
Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Asset	16	0
Liability	0	5
Net Asset (Liability)	16	(5)
Commodity | Other current assets | Not Designated as Hedges
Derivatives, Fair Value [Line Items]
Asset	2
Liability	2
Net Asset (Liability)	0
Commodity | Other current liabilities | Not Designated as Hedges
Derivatives, Fair Value [Line Items]
Asset	4	1
Liability	83	8
Net Asset (Liability)	(79)	(7)
Interest Rate | Other current assets | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Asset	4
Liability	0
Net Asset (Liability)	4
Interest Rate | Other current liabilities | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Asset		0
Liability		3
Net Asset (Liability)		(3)
Interest Rate | Other noncurrent assets | Not Designated as Hedges
Derivatives, Fair Value [Line Items]
Asset		27
Liability		0
Net Asset (Liability)		27
Interest Rate | Other noncurrent assets | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Asset	12
Liability	0
Net Asset (Liability)	$ 12
Interest Rate | Deferred credits and other liabilities | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Asset		0
Liability		2
Net Asset (Liability)		$ (2)

Derivatives - Outstanding Deriv

Derivatives - Outstanding Derivative Contracts (Details) - Not Designated as Hedges	Jun. 30, 2022 Bbls_per_day MMBTU_per_day $ / MMBTU $ / bbl
Three-Way Collars - Crude Oil 2022, Third Quarter
Derivative [Line Items]
Derivative, volume | Bbls_per_day	30,000
Derivative, ceiling	97.52
Derivative, floor	56.67
Derivative, sold put	46.67
Three-Way Collars - Crude Oil 2022, Fourth Quarter
Derivative [Line Items]
Derivative, volume | Bbls_per_day	30,000
Derivative, ceiling	97.52
Derivative, floor	56.67
Derivative, sold put	46.67
Three-Way Collars - Crude Oil 2023, First Quarter
Derivative [Line Items]
Derivative, volume | Bbls_per_day
Derivative, ceiling
Derivative, floor
Derivative, sold put
NYMEX Roll Basis Swaps - Crude Oil 2022, Third Quarter
Derivative [Line Items]
Derivative, volume | Bbls_per_day	60,000
NYMEX Roll Basis Swaps - Crude Oil 2022, Third Quarter | Short
Derivative [Line Items]
Derivative, weighted average price	0.67
NYMEX Roll Basis Swaps - Crude Oil 2022, Fourth Quarter
Derivative [Line Items]
Derivative, volume | Bbls_per_day	60,000
NYMEX Roll Basis Swaps - Crude Oil 2022, Fourth Quarter | Short
Derivative [Line Items]
Derivative, weighted average price	0.67
NYMEX Roll Basis Swaps - Crude Oil 2023, First Quarter
Derivative [Line Items]
Derivative, volume | Bbls_per_day
NYMEX Roll Basis Swaps - Crude Oil 2023, First Quarter | Short
Derivative [Line Items]
Derivative, weighted average price
Two-Way Collars - Natural Gas 2022, Fourth Quarter
Derivative [Line Items]
Derivative, volume | MMBTU_per_day	50,000
Derivative, ceiling | $ / MMBTU	19.28
Derivative, floor | $ / MMBTU	5
Two-Way Collars - Natural Gas 2023, First Quarter
Derivative [Line Items]
Derivative, volume | MMBTU_per_day	50,000
Derivative, ceiling | $ / MMBTU	19.28
Derivative, floor | $ / MMBTU	5
Three-Way Collars - Natural Gas 2022, Third Quarter
Derivative [Line Items]
Derivative, volume | MMBTU_per_day	100,000
Derivative, ceiling | $ / MMBTU	7.13
Derivative, floor | $ / MMBTU	3.88
Derivative, sold put | $ / MMBTU	2.88
Three-Way Collars - Natural Gas 2022, Fourth Quarter
Derivative [Line Items]
Derivative, volume | MMBTU_per_day	100,000
Derivative, ceiling | $ / MMBTU	7.13
Derivative, floor | $ / MMBTU	3.88
Derivative, sold put | $ / MMBTU	2.88
Three-Way Collars - Natural Gas 2023, First Quarter
Derivative [Line Items]
Derivative, volume | MMBTU_per_day
Derivative, ceiling
Derivative, floor
Derivative, sold put

Derivatives - Schedule of mark-

Derivatives - Schedule of mark-to-market impact and commodity derivative settlements (Details) - Commodity - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on derivative instruments, net	$ 43	$ (75)	$ (71)	$ (157)
Realized gain (loss) on derivative instruments, net	(70)	(91)	(99)	(162)
Net settlements of derivative instruments	$ 61	$ 84	$ 89	$ 95

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 10, 2022	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Senior Unsecured Note Due 2025
Derivative Instruments, Gain (Loss) [Line Items]
Long-term debt			$ 900,000,000		$ 900,000,000
Interest rate			3.85%		3.85%
Interest Rate Contract, Maturing June 1, 2025 | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain on interest rate swap			$ 17,000,000		$ 17,000,000
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Proceeds for settlement of interest rate swaps		$ 44,000,000
Net settlements of derivative instruments			1,000,000		2,000,000
Amount expected to be reclassified within 12 months					5,000,000
Not Designated as Hedges | Interest Rate Contract, Maturing June 1, 2025
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount			0		0		$ 350,000,000
Gain on interest rate swap				$ 31,000,000		$ 31,000,000
Not Designated as Hedges | Interest Rate Contract, Maturing September 9, 2026
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount			0		0		25,000,000
Not Designated as Hedges | Interest Rate Contract, Maturing September 9, 2026 | De-designated as cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	$ 25,000,000			25,000,000		25,000,000
Designated as Hedging Instrument | Cash Flow Hedges | De-designated as cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Cash proceeds	$ 2,000,000
Designated as Hedging Instrument | Interest Rate Contract, Maturing June 1, 2025 | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount								$ 350,000,000
Designated as Hedging Instrument | Interest Rate Contract, Maturing September 9, 2026
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount			$ 295,000,000		$ 295,000,000		$ 295,000,000
Designated as Hedging Instrument | Interest Rate Contract, Maturing September 9, 2026 | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount				$ 320,000,000		$ 320,000,000			$ 320,000,000

Derivatives - Schedule of Termi

Derivatives - Schedule of Terminated Interest Rate Swap Agreements (Details) - Not Designated as Hedges - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Interest Rate Contract, Maturing June 1, 2025
Derivative [Line Items]
Derivative, notional amount	$ 0	$ 350,000,000
Weighted average interest rate, LIBOR	0%	0.95%
Interest Rate Contract, Maturing September 9, 2026
Derivative [Line Items]
Derivative, notional amount	$ 0	$ 25,000,000
Weighted average interest rate, LIBOR	0%	1.45%

Derivatives - Schedule of Inter

Derivatives - Schedule of Interest Rate Swap Agreements (Details) - Interest Rate Contract, Maturing September 9, 2026 - Designated as Hedging Instrument - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative, notional amount	$ 295,000,000	$ 295,000,000
Weighted average interest rate, LIBOR	1.52%	1.52%

Fair Value Measurements - Fair

Fair Value Measurements - Fair Values - Recurring (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	$ 16	$ 27
Derivative instruments, liabilities	(79)	(12)
Total	(63)	15
Interest Rate | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	16
Derivative instruments, liabilities		(5)
Interest Rate | Not Designated as Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets		27
Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, liabilities	(79)	(7)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	0	0
Derivative instruments, liabilities	(23)	(2)
Total	(23)	(2)
Level 1 | Interest Rate | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	0
Derivative instruments, liabilities		0
Level 1 | Interest Rate | Not Designated as Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets		0
Level 1 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, liabilities	(23)	(2)
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	16	27
Derivative instruments, liabilities	(56)	(10)
Total	(40)	17
Level 2 | Interest Rate | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	16
Derivative instruments, liabilities		(5)
Level 2 | Interest Rate | Not Designated as Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets		27
Level 2 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, liabilities	(56)	(5)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	0	0
Derivative instruments, liabilities	0	0
Total	0	0
Level 3 | Interest Rate | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	0
Derivative instruments, liabilities		0
Level 3 | Interest Rate | Not Designated as Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets		0
Level 3 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, liabilities	$ 0	$ 0

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Values - Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value
Financial assets
Current assets	$ 0	$ 11
Other noncurrent assets	10	12
Total financial assets	10	23
Financial liabilities
Current liabilities	110	99
Long-term debt, including current portion	3,996	4,705
Deferred credits and other liabilities	16	46
Total financial liabilities	4,122	4,850
Carrying Amount
Financial assets
Current assets	0	10
Other noncurrent assets	28	27
Total financial assets	28	37
Financial liabilities
Current liabilities	166	136
Long-term debt, including current portion	4,000	4,033
Deferred credits and other liabilities	15	46
Total financial liabilities	$ 4,181	$ 4,215

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details) - Revolving Credit Facility	Jul. 28, 2022 USD ($)	Jun. 30, 2022 USD ($)
Line of Credit Facility [Line Items]
Line of credit, outstanding amount		$ 0
Maximum borrowing capacity		$ 3,100,000,000
Covenant, ratio of indebtedness to net capital, maximum		0.65
Ratio of indebtedness to net capital		0.19
Subsequent Event
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 2,500,000,000
Extended maturity	3 years

Debt - Debt Redemption (Details

Debt - Debt Redemption (Details) - Senior Unsecured Notes, 9.375%, Due 2022 - Unsecured Debt $ in Millions	May 31, 2022 USD ($)
Debt Instrument [Line Items]
Long-term debt, gross	$ 32
Interest rate	9.375%

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Outstanding debt	$ 4,000
Long-term debt due within one year	273	$ 36
Purchase On April 1, 2023
Debt Instrument [Line Items]
Long-term debt due within one year	$ 200
Interest rate	2%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 03, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	May 04, 2022
Equity, Class of Treasury Stock [Line Items]
Shares repurchased, value		$ 760	$ 592
Stock repurchase program, authorized repurchase amount					$ 2,500
Value of stock repurchased for restricted stock award tax obligation				$ 21
Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Shares repurchased, value				1,400
Stock repurchase program, remaining authorized repurchase amount		$ 2,000		$ 2,000
Share Repurchase Program | Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Shares repurchased, value	$ 282

Incentive Based Compensation -

Incentive Based Compensation - Stock Options, Restricted Stock Awards and Restricted Stock Units (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares
Outstanding, beginning (in shares) | shares	4,274,304
Granted (in shares) | shares	0
Exercised/Vested (in shares) | shares	(1,842,093)
Canceled (in shares) | shares	(167,906)
Outstanding, ending (in shares) | shares	2,264,305
Weighted Average Exercise Price
Outstanding, beginning (in dollars per share) | $ / shares	$ 22.13
Granted (in dollars per share) | $ / shares	0
Exercised/Vested (in dollars per share) | $ / shares	14.41
Canceled (in dollars per share) | $ / shares	34.55
Outstanding, ending (in dollars per share) | $ / shares	$ 27.48
Restricted Stock & Units
Number of Shares & Units
Outstanding, beginning (in shares) | shares	5,888,242
Granted (in shares) | shares	1,428,041
Exercised/Vested (in shares) | shares	(2,738,788)
Canceled (in shares) | shares	(104,351)
Outstanding, ending (in shares) | shares	4,473,144
Weighted Average Grant Date Fair Value
Outstanding, beginning (in dollars per share) | $ / shares	$ 10.98
Granted (in dollars per share) | $ / shares	22.89
Exercised/Vested (in dollars per share) | $ / shares	12.01
Canceled (in dollars per share) | $ / shares	13.49
Outstanding, ending (in dollars per share) | $ / shares	$ 14.09

Incentive Based Compensation _2

Incentive Based Compensation - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Performance Unit - Share Settlement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	167,043
Grant date fair value (in dollars per share) | $ / shares	$ 34.07
Performance Unit - Cash Settlement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	167,043
Unit conversion ratio (in shares)	1
Fair value as of period end (in dollars per share) | $ / shares	$ 22.63

Defined Benefit Postretiremen_3

Defined Benefit Postretirement Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Amortization:
Net settlement loss	$ (5)	$ 1	$ (9)	$ (2)
Estimated future contributions over the remainder of the current year	8		8
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	4	7	8
Interest cost	2	2	4	4
Expected return on plan assets	(3)	(2)	(5)	(4)
Amortization:
– prior service credit	(1)	(1)	(3)	(3)
– actuarial loss	1	1	1	3
Net settlement loss	0	5	0	5
Net periodic benefit costs (credits)	2	9	4	13
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	1	1	1	1
Expected return on plan assets	0	0	0	0
Amortization:
– prior service credit	(4)	(4)	(8)	(8)
– actuarial loss	0	0	1	1
Net settlement loss	0	0	0	0
Net periodic benefit costs (credits)	$ (3)	$ (3)	(6)	$ (6)
Payment for other postretirement benefits			5
Funded Plan
Amortization:
Payment for pension benefits			$ 9

Reclassifications Out of Accu_3

Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net periodic benefit (costs) credits	$ 5		$ (1)		$ 9	$ 2
Net interest and other	(54)		(59)		(76)	(72)
Income tax provision (benefit)	279		10		(238)	20
Net income	966	$ 1,304	16	$ 97	2,270	113
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Amortization of prior service credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net periodic benefit (costs) credits	5		5		11	11
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Amortization of actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net periodic benefit (costs) credits	(1)		(1)		(2)	(4)
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Net settlement loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net periodic benefit (costs) credits	0		(5)		0	(5)
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Reclassification of de-designated forward interest rate swaps
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net interest and other	0		(30)		0	(28)
Income tax provision (benefit)	(1)		0		(2)	0
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Total reclassifications of (income) expense, net of tax
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	$ 3		$ (31)		$ 7	$ (26)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Included in operating activities:
Interest paid	$ 99	$ 123
Income taxes paid to (received from) taxing authorities, net of refunds	93	9
Noncash investing activities:
Increase in asset retirement costs	3	38
Capital expenditures incurred but not yet paid	$ 116	$ 85

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 528	$ 450
EG Holdings
Schedule of Equity Method Investments [Line Items]
Ownership percentage	56%
Equity method investments	$ 226	148
Alba Plant LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	52%
Equity method investments	$ 166	154
AMPCO
Schedule of Equity Method Investments [Line Items]
Ownership percentage	45%
Equity method investments	$ 136	$ 148

Equity Method Investments - Sum

Equity Method Investments - Summarized Financial Information (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of Equity Method Investments [Line Items]
Revenues and other income	$ 2,303		$ 1,143		$ 4,056	$ 2,214
Income (loss) from operations	1,294		105		2,099	222
Net income	966	$ 1,304	16	$ 97	2,270	113
Consolidated Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Revenues and other income	459		246		833	481
Income (loss) from operations	306		111		535	207
Net income	$ 272		$ 85		$ 476	$ 157

Equity Method Investments - Nar

Equity Method Investments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Revenue from related parties	$ 7	$ 8	$ 15	$ 16
Proceeds from equity method investment	146	$ 50	200	$ 81
Due from related parties	28		28		$ 23
Due to related parties	$ 6		$ 6		$ 20

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
	Jun. 30, 2020 guarantee	Jun. 30, 2022 USD ($) tribe
Loss Contingencies [Line Items]
Number of guarantees executed | guarantee	2
Guarantees recorded		$ 4
Number of affiliated tribes | tribe		3
Contingent royalty liability		$ 145
Contingent capital and expense receivable, noncurrent		25
Accounts payable
Loss Contingencies [Line Items]
Contingent royalty liability		133
Other current liabilities
Loss Contingencies [Line Items]
Contingent royalty liability		12
Performance of Equatorial Guinea LNG Operations, S.A.
Loss Contingencies [Line Items]
Guarantor obligations, maximum exposure		91
Performance of Alba Plant LLC.
Loss Contingencies [Line Items]
Guarantor obligations, maximum exposure		$ 25