Pioneer Natural Resources (PXD) 10-Q 6 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Nov. 04, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	1-13245
Entity Registrant Name	PIONEER NATURAL RESOURCES CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2702753
Entity Address, Address Line One	777 Hidden Ridge
Entity Address, City or Town	Irving
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75038
City Area Code	972
Local Phone Number	444-9001
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	PXD
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		164,406,947
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001038357

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,325	$ 631
Restricted cash	66	74
Accounts receivable:
Trade, net	662	1,032
Due from affiliates	0	3
Income taxes receivable	22	7
Inventories	191	205
Derivatives	49	32
Investment in affiliate	67	187
Other	38	20
Total current assets	2,420	2,191
Oil and gas properties, using the successful efforts method of accounting:
Proved properties	23,498	22,444
Unproved properties	572	584
Accumulated depletion, depreciation and amortization	(9,719)	(8,583)
Total oil and gas properties, net	14,351	14,445
Other property and equipment, net	1,603	1,632
Operating lease right-of-use assets	198	280
Goodwill	261	261
Other assets	144	258
Total Assets	18,977	19,067
Accounts payable:
Trade	871	1,221
Due to affiliates	137	190
Interest payable	17	53
Income taxes payable	2	3
Less current portion of long-term debt	140	450
Derivatives	51	12
Operating leases	99	136
Other	371	431
Total current liabilities	1,688	2,496
Long-term debt	3,148	1,839
Derivatives	14	8
Deferred income taxes	1,406	1,389
Operating leases	113	170
Other liabilities	954	1,046
Equity:
Common stock, $0.01 par value; 500,000,000 shares authorized; 175,462,969 and 175,057,889 shares issued as of September 30, 2020 and December 31, 2019, respectively	2	2
Additional paid-in capital	9,305	9,161
Treasury stock at cost: 11,059,909 and 9,511,248 shares as of September 30, 2020 and December 31, 2019, respectively	(1,235)	(1,069)
Retained earnings	3,582	4,025
Total equity	11,654	12,119
Commitments and contingencies
Total Liabilities and Equity	$ 18,977	$ 19,067
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	175,462,969	175,057,889
Treasury stock, shares	11,059,909	9,511,248

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues and other income:
Revenue	$ 1,857	$ 2,406	$ 5,008	$ 7,030
Interest and other income (loss), net	13	(222)	(145)	(42)
Derivative gain (loss), net	(57)	121	60	150
Gain (loss) on disposition of assets, net	2	20	7	(477)
Total revenues and other income	1,815	2,325	4,930	6,661
Costs and expenses:
Production and ad valorem taxes	63	86	182	223
Depletion, depreciation and amortization	393	438	1,243	1,271
Exploration and abandonments	16	11	35	46
General and administrative	64	72	180	246
Accretion of discount on asset retirement obligations	2	2	7	7
Interest	34	29	94	88
Other	98	32	273	390
Costs and Expenses	1,831	2,022	5,118	6,122
Income (loss) before income taxes	(16)	303	(188)	539
Income tax benefit (provision)	(4)	(72)	18	(127)
Net income (loss) attributable to common stockholders	$ (20)	$ 231	$ (170)	$ 412
Net income per share attributable to common stockholders:
Basic and diluted net income (loss) per share attributable to common stockholders	$ (0.12)	$ 1.38	$ (1.03)	$ 2.44
Weighted average shares outstanding:
Basic and diluted weighted average shares outstanding	165	167	165	168
Dividends declared per share	$ 0.55	$ 0.44	$ 1.65	$ 0.76
Oil and gas
Revenues and other income:
Revenue	$ 922	$ 1,235	$ 2,617	$ 3,567
Costs and expenses:
Costs and expenses	163	227	506	667
Sales of purchased oil and gas
Revenues and other income:
Revenue	935	1,171	2,391	3,463
Costs and expenses:
Costs and expenses	$ 998	$ 1,125	$ 2,598	$ 3,184

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings
Beginning Balance (shares) at Dec. 31, 2018		169,499,000
Beginning Balance at Dec. 31, 2018	$ 12,111	$ 2	$ 9,062	$ (423)	$ 3,470
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(54)				(54)
Exercise of long-term incentive stock options		10,000
Exercise of employee stock purchases	0		(1)	1
Purchases of treasury stock (shares)		(1,594,000)
Purchases of treasury stock	(222)			(222)
Stock-based compensation costs:
Issued awards (shares)		507,000
Issued awards	0
Compensation costs included in net loss	24		24
Net income	350				350
Issued awards (shares)		507,000
Issued awards	0
Ending Balance (shares) at Mar. 31, 2019		168,422,000
Ending Balance at Mar. 31, 2019	12,209	$ 2	9,085	(644)	3,766
Beginning Balance (shares) at Dec. 31, 2018		169,499,000
Beginning Balance at Dec. 31, 2018	12,111	$ 2	9,062	(423)	3,470
Stock-based compensation costs:
Net income	412
Ending Balance (shares) at Sep. 30, 2019		165,643,000
Ending Balance at Sep. 30, 2019	11,856	$ 2	9,142	(1,043)	3,755
Beginning Balance (shares) at Mar. 31, 2019		168,422,000
Beginning Balance at Mar. 31, 2019	12,209	$ 2	9,085	(644)	3,766
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases of treasury stock (shares)		(1,349,000)
Purchases of treasury stock	(202)			(202)
Stock-based compensation costs:
Issued awards (shares)		49,000
Issued awards	0
Compensation costs included in net loss	38		38
Net income	(169)				(169)
Issued awards (shares)		49,000
Issued awards	0
Ending Balance (shares) at Jun. 30, 2019		167,122,000
Ending Balance at Jun. 30, 2019	11,876	$ 2	9,123	(846)	3,597
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(73)				(73)
Exercise of long-term incentive stock options		54,000
Exercise of employee stock purchases	6			6
Purchases of treasury stock (shares)		(1,619,000)
Purchases of treasury stock	(203)			(203)
Stock-based compensation costs:
Issued awards (shares)		86,000
Issued awards	0
Compensation costs included in net loss	19		19
Net income	231				231
Issued awards (shares)		86,000
Issued awards	0
Ending Balance (shares) at Sep. 30, 2019		165,643,000
Ending Balance at Sep. 30, 2019	11,856	$ 2	9,142	(1,043)	3,755
Beginning Balance (shares) at Dec. 31, 2019		165,547,000
Beginning Balance at Dec. 31, 2019	12,119	$ 2	9,161	(1,069)	4,025
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(91)				(91)
Exercise of long-term incentive stock options		8,000
Exercise of employee stock purchases	0		(1)	1
Purchases of treasury stock (shares)		(1,007,000)
Purchases of treasury stock	(122)			(122)
Stock-based compensation costs:
Issued awards (shares)		316,000
Issued awards	0
Compensation costs included in net loss	16		16
Net income	289				289
Issued awards (shares)		316,000
Issued awards	0
Ending Balance (shares) at Mar. 31, 2020		164,864,000
Ending Balance at Mar. 31, 2020	12,211	$ 2	9,176	(1,190)	4,223
Beginning Balance (shares) at Dec. 31, 2019		165,547,000
Beginning Balance at Dec. 31, 2019	$ 12,119	$ 2	9,161	(1,069)	4,025
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of long-term incentive stock options	7,728
Stock-based compensation costs:
Net income	$ (170)
Ending Balance (shares) at Sep. 30, 2020		164,403,000
Ending Balance at Sep. 30, 2020	11,654	$ 2	9,305	(1,235)	3,582
Beginning Balance (shares) at Mar. 31, 2020		164,864,000
Beginning Balance at Mar. 31, 2020	12,211	$ 2	9,176	(1,190)	4,223
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(91)				(91)
Equity component	230		230
Capped call	(113)		(113)
Deferred tax provision	(25)		(25)
Purchases of treasury stock (shares)		(592,000)
Purchases of treasury stock	(50)			(50)
Stock-based compensation costs:
Issued awards (shares)		4,000
Issued awards	0
Compensation costs included in net loss	17		17
Net income	(439)				(439)
Issued awards (shares)		4,000
Issued awards	0
Ending Balance (shares) at Jun. 30, 2020		164,276,000
Ending Balance at Jun. 30, 2020	11,740	$ 2	9,285	(1,240)	3,693
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(91)				(91)
Exercise of long-term incentive stock options		62,000
Exercise of employee stock purchases	6		(1)	7
Purchases of treasury stock (shares)		(19,000)
Purchases of treasury stock	(2)			(2)
Stock-based compensation costs:
Issued awards (shares)		84,000
Issued awards	0
Compensation costs included in net loss	21		21
Net income	(20)				(20)
Issued awards (shares)		84,000
Issued awards	0
Ending Balance (shares) at Sep. 30, 2020		164,403,000
Ending Balance at Sep. 30, 2020	$ 11,654	$ 2	$ 9,305	$ (1,235)	$ 3,582

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended					9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared (usd per share)	$ 0.55	$ 0.55	$ 0.55	$ 0.44	$ 0.32	$ 1.65	$ 0.76

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (170)	$ 412
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation and amortization	1,243	1,271
Impairment of inventory and other property and equipment	2	34
Exploration expenses, including dry holes	8	6
Deferred income taxes	(8)	127
(Gain) loss on disposition of assets, net	(7)	477
Loss on early extinguishment of debt	27	0
Accretion of discount on asset retirement obligations	7	7
Interest expense	34	4
Derivative-related activity	28	(116)
Amortization of stock-based compensation	54	81
Investment in affiliate valuation adjustment	119	22
South Texas contingent consideration valuation adjustment	42	61
South Texas deficiency fee obligation	69	0
Other	94	96
Change in operating assets and liabilities:
Accounts receivable	371	(47)
Inventories	13	(55)
Other assets	22	(15)
Accounts payable	(164)	1
Interest payable	(37)	(29)
Other liabilities	(201)	(50)
Net cash provided by operating activities	1,546	2,287
Cash flows from investing activities:
Proceeds from disposition of assets	58	82
Proceeds from investments	0	568
Purchase of investments	(1)	0
Additions to oil and gas properties	(1,297)	(2,380)
Additions to other assets and other property and equipment	(102)	(184)
Net cash used in investing activities	(1,342)	(1,914)
Cash flows from financing activities:
Proceeds from issuance of senior notes, net of discount	1,091	0
Proceeds from issuance of convertible senior notes	1,323	0
Purchase of derivatives related to issuance of convertible senior notes	(113)	0
Borrowing under credit facility	800	0
Repayment of credit facility	(800)	0
Repayment of senior notes, including tender offer premiums	(1,198)	0
Payments of other liabilities	(162)	(10)
Payments of financing fees, net	(36)	0
Purchases of treasury stock	(174)	(627)
Exercise of long-term incentive plan stock options and employee stock purchases	6	6
Dividends paid	(255)	(54)
Net cash provided by (used in) financing activities	482	(685)
Net increase (decrease) in cash, cash equivalents and restricted cash	686	(312)
Cash, cash equivalents and restricted cash, beginning of period	705	825
Cash, cash equivalents and restricted cash, end of period	$ 1,391	$ 513

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of OperationsPioneer Natural Resources Company ("Pioneer" or the "Company") is a Delaware corporation whose common stock is listed and traded on the New York Stock Exchange. The Company is a large independent oil and gas exploration and production company that explores for, develops and produces oil, natural gas liquids ("NGLs") and gas in the Permian Basin in West Texas.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Presentation. In the opinion of management, the unaudited interim consolidated financial statements of the Company as of September 30, 2020 and for the three and nine months ended September 30, 2020 and 2019 include all adjustments and accruals, consisting only of normal, recurring adjustments and accruals necessary for a fair presentation of the results for the interim periods in conformity with generally accepted accounting principles in the United States ("GAAP"). The operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of results for a full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the rules and regulations of the United States Securities and Exchange Commission (the "SEC"). These unaudited interim consolidated financial statements should be read together with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. Use of estimates in the preparation of financial statements. Preparation of the Company's unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Depletion of oil and gas properties is calculated using estimates of proved oil and gas reserves. There are numerous uncertainties inherent in the estimation of quantities of proved reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of goodwill and proved and unproved oil and gas properties are subject to numerous uncertainties including, among others, estimates of proved, probable and possible reserves and commodity price outlooks. Actual results could differ from the estimates and assumptions utilized. Impact of the COVID-19 Pandemic. A novel strain of the coronavirus ("COVID-19") surfaced in late 2019 and has spread around the world, including to the United States. In March 2020, the World Health Organization declared COVID-19 a pandemic, and the President of the United States declared the COVID-19 outbreak a national emergency. The COVID-19 pandemic has significantly affected the global economy, disrupted global supply chains and created significant volatility in the financial markets. In addition, the COVID-19 pandemic has resulted in travel restrictions, business closures and other restrictions that have disrupted the demand for oil throughout the world and when combined with pressures on the global supply-demand balance for oil and related products, resulted in significant volatility in oil prices beginning in late February 2020. The length of this demand disruption is unknown, and there is significant uncertainty regarding the long-term impact of the effects of the COVID-19 pandemic to global oil demand, which has negatively impacted the Company's results of operations and led to a significant reduction in the Company's 2020 capital activities. Adoption of new accounting standards. In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"). Effective January 1, 2020, the Company adopted ASU 2016-13 prospectively. This ASU replaces the incurred loss impairment model with an expected credit loss impairment model for financial instruments, including trade receivables. The amendment requires entities to consider forward-looking information to estimate expected credit losses, resulting in earlier recognition of losses for receivables that are current or not yet due, which were not considered under the previous accounting guidance. The impact of the adoption of ASU 2016-13 was not material. The Company is exposed to credit losses primarily through sales of oil, NGLs, gas and purchased oil and gas. The Company's expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade accounts receivables. Due to the short-term nature of such receivables, the estimated amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of the Company's customers. The Company's monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible. The Company has considered the current and expected future economic and market conditions surrounding the COVID-19 pandemic in determining its estimate of expected credit losses. New accounting pronouncements. In August 2020, the FASB issued ASU 2020-06, "Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity" ("ASU 2020-06"). ASU 2020-06 simplifies the accounting for certain convertible instruments by removing the separation models for convertible debt with a cash conversion feature or convertible instruments with a beneficial conversion feature. As a result, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. Additionally, this ASU amends the diluted earnings per share calculation for convertible instruments by requiring the use of the if-converted method. The treasury stock method will no longer be available. Entities may adopt this ASU using either a full or modified retrospective approach, and it is effective for interim and annual reporting periods beginning after December 15, 2021. Early adoption is permitted for interim and annual reporting periods beginning after December 15, 2020. This ASU is applicable to the Company’s 0.25% convertible senior notes due 2025. The Company is assessing the impact the adoption of this ASU will have on its consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company determines fair value based on the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based upon inputs that market participants use in pricing an asset or liability, which are characterized according to a hierarchy that prioritizes those inputs based on the degree to which they are observable. Observable inputs represent market data obtained from independent sources, whereas unobservable inputs reflect a company's own market assumptions, which are used if observable inputs are not reasonably available without undue cost and effort. The fair value input hierarchy level to which an asset or liability measurement in its entirety falls is determined based on the lowest level input that is significant to the measurement in its entirety. The three input levels of the fair value hierarchy are as follows: • Level 1 – quoted prices for identical assets or liabilities in active markets. • Level 2 – quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g. interest rates) and inputs derived principally from or corroborated by observable market data by correlation or other means. • Level 3 – unobservable inputs for the asset or liability, typically reflecting management's estimate of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore, determined using model-based techniques, including discounted cash flow models. Assets and liabilities measured at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are as follows: As of September 30, 2020 Fair Value Measurement Quoted Prices in Significant Significant Total (in millions) Assets: Commodity price derivatives $ — $ 49 $ — $ 49 Deferred compensation plan assets 68 — — 68 Investment in affiliate 67 — — 67 Total assets 135 49 — 184 Liabilities: Commodity price derivatives — 65 — 65 $ 135 $ (16) $ — $ 119 As of December 31, 2019 Fair Value Measurement Quoted Prices in Active Markets for Identical Assets Significant Significant Total (in millions) Assets: Commodity price derivatives $ — $ 32 $ — $ 32 Deferred compensation plan assets 85 — — 85 Investment in affiliate 187 — — 187 Contingent consideration — 91 — 91 Total assets 272 123 — 395 Liabilities: Commodity price derivatives — 20 — 20 $ 272 $ 103 $ — $ 375 Commodity price derivatives. The Company's commodity price derivatives represent oil, NGL and gas swap contracts, collar contracts, collar contracts with short puts and basis swap contracts. The asset and liability measurements for the Company's commodity price derivative contracts are determined using Level 2 inputs. The Company utilizes discounted cash flow and option-pricing models for valuing its commodity price derivatives. The asset and liability values attributable to the Company's commodity price derivatives were determined based on inputs that include (i) the contracted notional volumes, (ii) independent active market price quotes, (iii) the applicable estimated credit-adjusted risk-free rate yield curve and (iv) the implied rate of volatility inherent in the collar contracts and collar contracts with short puts, which is based on active and independent market-quoted volatility factors. Deferred compensation plan assets. The Company's deferred compensation plan assets include investments in equity and mutual fund securities that are actively traded on major exchanges. The fair value of these investments is determined using Level 1 inputs based on observable prices on major exchanges. Investment in affiliate. The Company elected the fair value option for measuring its equity method investment in ProPetro Holding Corp. ("ProPetro"). The fair value of its investment in ProPetro is determined using Level 1 inputs based on observable prices on a major exchange. See Note 11 and Note 13 for additional information. Contingent consideration. The Company had a right to receive contingent consideration in conjunction with the South Texas Divestiture based on future oil and NGL prices during each of the five years from 2020 to 2024. The fair value of the contingent consideration was determined using Level 2 inputs based on an option pricing model using quoted future commodity prices based on active markets, implied volatility factors and counterparty credit risk assessments. In July 2020, the Company received cash proceeds of $49 million to fully satisfy the South Texas Divestiture contingent consideration receivable. See Note 3 , Note 5 and Note 13 for additional information. Assets and liabilities measured at fair value on a nonrecurring basis. Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities are not measured at fair value on an ongoing basis, but are subject to fair value adjustments in certain circumstances. These assets and liabilities can include inventory, proved and unproved oil and gas properties, goodwill and other long-lived assets that are written down to fair value when they are impaired or held for sale. Other assets. During the nine months ended September 30, 2019, the Company recognized impairment charges of $13 million associated with inventory and other property and equipment related to the decommissioning of the Company's Brady, Texas sand mine, and $16 million related to pressure pumping assets, as they had no remaining future economic value. See Note 14 for additional information. South Texas Divestiture. The Company recorded a deficiency fee obligation and related deficiency fee receivable in conjunction with the 2019 South Texas Divestiture. The fair value of the deficiency fee obligation and deficiency fee receivable was determined using Level 3 inputs based on a probability-weighted forecast that considers historical results, market conditions and various development plans to arrive at the estimated present value of the deficiency payments and corresponding receipts. Changes to the Company's forecasted deficiency fee obligation, as a result of the expected impact of the COVID-19 pandemic on the buyer's ability to drill economic wells, resulted in the Company recording a charge of $69 million to other expense during the nine months ended September 30, 2020. The present value of the estimated future cash payments and expected cash receipts were determined using a 3.6 percent and 3.2 percent discount rate, respectively, based on the estimated timing of future payments and receipts and the Company's counterparty credit risk assessments. See Note 3 , Note 10 and Note 14 for additional information. Proved Properties. The Company performs assessments of its proved oil and gas properties accounted for under the successful efforts method of accounting whenever events or circumstances indicate that the carrying value of those assets may not be recoverable. An impairment loss is indicated if the sum of the expected future cash flows, including cash flows from vertically integrated services that are used in the development of the assets, is less than the carrying amount of the assets, including the carrying value of the vertically integrated services. In these circumstances, the Company recognizes an impairment charge for the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. Based on management's commodity price outlooks as of September 30, 2020, which represent longer-term commodity price outlooks that are developed based on third party future commodity price estimates as of a measurement date ("Management's Price Outlooks"), the Company determined events and circumstances did not indicate that the carrying value of the Company's proved properties were not recoverable. Goodwill. Goodwill is assessed for impairment whenever it is likely that events or circumstances indicate the carrying value of a reporting unit exceeds its fair value, but no less often than annually. An impairment charge is recorded for the amount by which the carrying amount exceeds the fair value of a reporting unit in the period it is determined to be impaired. Based on the Company's annual assessment of the fair value of goodwill as of July 1, 2020, the Company determined that its goodwill was not impaired. As of September 30, 2020, there were no material changes in events or circumstances that would warrant a reassessment for impairment. There is significant uncertainty surrounding the long-term impact to global oil demand due to the effects of the COVID-19 pandemic. These conditions are negatively impacting the Company's 2020 forecasted capital activities and production levels. It is reasonably possible that the carrying value of the Company's proved oil and gas properties or goodwill could exceed their estimated fair value resulting in the need to impair their carrying values in the future. If incurred, an impairment of the Company's proved oil and gas properties or goodwill could have a material adverse effect on the Company's financial condition and results of operation. Financial instruments not carried at fair value. Carrying values and fair values of financial instruments that are not carried at fair value in the consolidated balance sheets are as follows: As of September 30, 2020 As of December 31, 2019 Carrying Fair Carrying Fair (in millions) Assets: Cash and cash equivalents (a) $ 1,325 $ 1,325 $ 631 $ 631 Restricted cash (a) $ 66 $ 66 $ 74 $ 74 Liabilities: Current portion of long-term debt: Senior notes (b) $ 140 $ 140 $ 450 $ 451 Long-term debt: Convertible senior notes (b) $ 1,088 $ 1,456 $ — $ — Senior notes (b) $ 2,060 $ 2,168 $ 1,839 $ 1,995 ______________________ (a) Fair value approximates carrying value due to the short-term nature of the instruments. (b) Fair value is determined using Level 2 inputs. The Company's senior notes are quoted, but not actively traded on major exchanges; therefore, fair value is based on periodic values as quoted on major exchanges. See Note 7 for additional information. The Company has other financial instruments consisting primarily of receivables, payables, other current assets and liabilities that approximate fair value due to the nature of the instrument and their relatively short maturities. Non-financial assets and liabilities initially measured at fair value include assets acquired and liabilities assumed in a business combination, convertible senior notes, goodwill and asset retirement obligations.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company primarily utilizes commodity swap contracts, collar contracts, collar contracts with short puts and basis swap contracts to (i) reduce the effect of price volatility on the commodities the Company produces and sells or consumes, and (ii) support the Company's capital budgeting and expenditure plans. The Company also, from time to time, utilizes interest rate contracts to reduce the effect of interest rate volatility on the Company's indebtedness. Oil production derivatives. The Company sells its oil production at the lease and the sales contracts governing such oil production are tied directly to, or are highly correlated with, New York Mercantile Exchange ("NYMEX") West Texas Intermediate ("WTI") oil prices. The Company also enters into pipeline capacity commitments in order to secure available oil, NGL and gas transportation capacity from its areas of production. To diversify the oil prices it receives, the Company enters into third party purchase transactions in its area of production and separate third party transactions for the sales of such purchased oil to Gulf Coast refineries or international export markets at prices that are highly correlated to Brent oil prices. As a result, the Company generally uses Brent derivative contracts to manage future oil price volatility. The Company's outstanding oil derivative contracts as of September 30, 2020 and the weighted average oil prices per barrel for those contracts are as follows: 2020 Year Ending December 31, 2021 Fourth Quarter Brent collar contracts with short puts: (a) Volume per day (Bbl) 115,500 — Price per Bbl: Ceiling $ 69.78 $ — Floor $ 62.06 $ — Short put $ 53.56 $ — Brent swap contracts: Volume per day (Bbl) 155,200 — Price per Bbl $ 36.47 $ — Brent call contracts sold: Volume per Bbl (b) — 20,000 Price per Bbl $ — $ 69.74 Brent collar contracts with short puts: Volume per day (Bbl) (c) 30,000 96,000 Price per Bbl: Ceiling $ 43.09 $ 50.61 Floor $ 34.83 $ 44.79 Short put $ 24.83 $ 34.88 ______________________ (a) Represents collar contracts with short puts that were entered into prior to March 2020. During and subsequent to March 2020, the Company entered into incremental swap contracts and collar contracts with short puts to provide additional downside price protection for its 2020 volumes. (b) The referenced call contracts were sold in exchange for higher ceiling prices on certain 2020 collar contracts with short puts. (c) Subsequent to September 30, 2020, the Company liquidated certain 2021 Brent collar contracts with short puts totaling 6,000 Bbls per day for cash proceeds of $241 thousand. NGL production derivatives. All material physical sales contracts governing the Company's NGL production are tied directly or indirectly to Mont Belvieu, Texas NGL component product prices. The Company uses derivative contracts to manage the volatility of NGL component product prices. As of September 30, 2020, the Company did not have any NGL derivative contracts outstanding. Gas production derivatives. All material physical sales contracts governing the Company's gas production are tied directly or indirectly to NYMEX Henry Hub ("HH") gas prices or regional index prices where the gas is sold. The Company uses derivative contracts to manage gas price volatility and basis swap contracts to reduce basis risk between HH prices and actual index prices at which the gas is sold. The Company's outstanding gas derivative contracts as of September 30, 2020 and the weighted average gas prices per MMBtu for those contracts are as follows: 2020 Year Ending December 31, 2021 Fourth Quarter NYMEX swap contracts: Volume per day (MMBtu) 16,739 152,466 Price per MMBtu $ 2.43 $ 2.66 NYMEX collar contracts: Volume per day (MMBtu) — 150,000 Price per MMBtu: Ceiling $ — $ 3.15 Floor $ — $ 2.50 Basis swap contracts: Permian Basin index swap volume per day (MMBtu) (a) 16,739 2,466 Price differential ($/MMBtu) $ (1.59) $ (1.46) ______________________ (a) The referenced basis swap contracts fix the basis differentials between the index price at which the Company sells its Permian Basin gas and the NYMEX index prices used in swap contracts. Contingent consideration. The Company's right to receive contingent consideration in conjunction with the South Texas Divestiture was determined to be a derivative financial instrument that was not designated as a hedging instrument. Prior to its settlement in July 2020, the contingent consideration valuation was based on forecasted oil and NGL prices during each of the five years from 2020 to 2024. See Note 3 Note 4 and Note 13 for additional information. Derivative accounting. The Company's derivatives are accounted for as non-hedge derivatives and therefore all changes in the fair values of its derivative contracts are recognized as gains or losses in the earnings of the periods in which they occur. The Company enters into commodity price derivatives under master netting arrangements, which, in an event of default, allows the Company to offset payables to and receivables from the defaulting counterparty. Noncash gains and losses associated with the Company's commodity price derivatives and contingent consideration are separately presented in operating activities within the consolidated statements of cash flows. Fair value. The fair value of derivative financial instruments not designated as hedging instruments is as follows: As of September 30, 2020 Type Consolidated Fair Gross Amounts Net Fair Value (in millions) Assets: Commodity price derivatives Derivatives - current $ 49 $ — $ 49 Liabilities: Commodity price derivatives Derivatives - current $ 51 $ — $ 51 Commodity price derivatives Derivatives - noncurrent $ 14 $ — $ 14 As of December 31, 2019 Type Consolidated Fair Gross Amounts Net Fair Value (in millions) Assets: Commodity price derivatives Derivatives - current $ 32 $ — $ 32 Contingent consideration Other assets - noncurrent $ 91 $ — $ 91 Liabilities: Commodity price derivatives Derivatives - current $ 12 $ — $ 12 Commodity price derivatives Derivatives - noncurrent $ 8 $ — $ 8 Gains and losses on derivative contracts are as follows: Derivatives Not Designated Location of Gain (Loss) Recognized Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Commodity price derivatives Derivative gain (loss), net $ (57) $ 121 $ 82 $ 150 Interest rate derivatives Derivative gain (loss), net $ — $ — $ (22) $ — Contingent consideration Interest and other income $ 22 $ (48) $ (42) $ (61) The Company uses credit and other financial criteria to evaluate the credit standing of, and to select, counterparties to its derivative instruments. Although the Company does not obtain collateral or otherwise secure the fair value of its derivative instruments, associated credit risk is mitigated by the Company's credit risk policies and procedures.

Exploratory Costs

Exploratory Costs	9 Months Ended
	Sep. 30, 2020
Extractive Industries [Abstract]
Exploratory Costs	Exploratory CostsThe Company capitalizes exploratory well and project costs until a determination is made that the well or project has either found proved reserves, is impaired or is sold. The Company's capitalized exploratory well and project costs are included in proved properties in the consolidated balance sheets. If the exploratory well or project is determined to be impaired, the impaired costs are charged to exploration and abandonments expense. The changes in capitalized exploratory well costs are as follows: Nine Months Ended September 30, 2020 (in millions) Beginning capitalized exploratory well costs $ 660 Additions to exploratory well costs pending the determination of proved reserves 975 Reclassification due to determination of proved reserves (1,131) Ending capitalized exploratory well costs $ 504 Aging of capitalized exploratory costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year, based on the date drilling was completed, are as follows: As of As of (in millions, except well counts) Capitalized exploratory well costs that have been suspended: One year or less $ 501 $ 660 More than one year 3 — $ 504 $ 660 Number of wells or projects with exploratory well costs that have been 1 —

Incentive Plans

Incentive Plans	9 Months Ended
	Sep. 30, 2020
Compensation Related Costs [Abstract]
Incentive Plans	Incentive Plans Stock-based compensation expense is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Restricted stock - Equity Awards $ 15 $ 14 $ 37 $ 65 Restricted stock - Liability Awards (a) 4 2 7 14 Performance unit awards 6 5 15 15 Employee stock purchase plan — — 2 1 $ 25 $ 21 $ 61 $ 95 ______________________ (a) Liability Awards are expected to be settled on their vesting date in cash. As of September 30, 2020 and December 31, 2019, accounts payable – due to affiliates included $5 million and $11 million, respectively, of liabilities attributable to Liability Awards. As of September 30, 2020, there was $98 million of unrecognized stock-based compensation expense related to unvested share-based compensation awards, including $17 million attributable to stock-based awards that are expected to be settled on their vesting date in cash, rather than in equity shares. The unrecognized compensation expense will be recognized on a straight-line basis over the remaining vesting periods of the awards, which is a period of less than three years on a weighted average basis. Activity for restricted stock awards, performance units and stock options is as follows: Nine Months Ended September 30, 2020 Restricted Restricted Performance Stock Options Beginning incentive compensation awards 824,193 246,851 116,215 121,953 Awards granted 383,771 135,176 132,621 — Awards forfeited (12,438) (5,257) — — Awards vested (a) (319,203) (102,588) (4,735) — Options exercised — — — (7,728) Ending incentive compensation awards 876,323 274,182 244,101 114,225 ______________________ (a) Per the terms of award agreements and elections, the issuance of common stock may be deferred for certain restricted stock equity awards, performance units and stock options that vest during the period.

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2020
Asset Retirement Obligation [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The changes in asset retirement obligations are as follows: Nine Months Ended September 30, 2020 (in millions) Beginning asset retirement obligations $ 191 New wells placed on production 2 Changes in estimates (a) (3) Liabilities settled (30) Accretion of discount 7 Ending asset retirement obligations 167 Less current portion of asset retirement obligations (32) Asset retirement obligations - noncurrent $ 135 ______________________

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal actions. The Company is a party to various proceedings and claims incidental to its business. While many of these matters involve inherent uncertainty, the Company believes that the amount of the liability, if any, ultimately incurred with respect to these proceedings and claims will not have a material adverse effect on the Company's consolidated financial position as a whole or on its liquidity, capital resources or future annual results of operations. The Company records reserves for contingencies when information available indicates that a loss is probable and the amount of the loss can be reasonably estimated. Indemnifications. The Company has agreed to indemnify its directors and certain of its officers, employees and agents with respect to claims and damages arising from acts or omissions taken in such capacity, as well as with respect to certain litigation. Environmental . Environmental expenditures that relate to an existing condition caused by past operations and that have no future economic benefits are expensed. Environmental expenditures that extend the life of the related property or mitigate or prevent future environmental contamination are capitalized. Liabilities for expenditures that will not qualify for capitalization are recorded when environmental assessment and/or remediation is probable and the costs can be reasonably estimated. Such liabilities are undiscounted unless the timing of cash payments for the liability is fixed or reliably determinable. Environmental liabilities normally involve estimates that are subject to revision until settlement or the remediation occurs. Firm purchase, gathering, processing, transportation, fractionation and storage commitments. From time to time, the Company enters into, and as of September 30, 2020 was a party to, take-or-pay agreements, which include contractual commitments (i) to purchase sand, water and diesel for use in the Company's drilling operations, (ii) with midstream service companies and pipeline carriers for future gathering, processing, transportation, fractionation and storage and (iii) with oilfield services companies that provide drilling and pressure pumping services. These commitments are normal and customary for the Company's business activities. Obligations following divestitures. In connection with its divestiture transactions, the Company may retain certain liabilities and provide the purchaser certain indemnifications, subject to defined limitations, which may apply to identified pre-closing matters, including matters of litigation, environmental contingencies, royalty and income taxes. Also associated with its divestiture transactions, the Company has issued and received guarantees to facilitate the transfer of contractual obligations, such as firm transportation agreements or gathering and processing arrangements. The Company does not recognize a liability if the fair value of the obligation is immaterial and the likelihood of making payments under these guarantees is remote. South Texas Divestiture. In conjunction with the South Texas Divestiture, the Company transferred its long-term midstream agreements and associated MVC's to the buyer. However, the Company retained the obligation to pay 100 percent of any deficiency fees associated with the MVC's from January 2019 through July 2022. The buyer is required to reimburse the Company for 18 percent of the deficiency fees paid by the Company from January 2019 through July 2022; such reimbursement will be paid by the buyer in installments beginning in 2023 through 2025. Assuming 100 percent of the MVC's are paid as deficiency fees, the maximum amount of future payments for this obligation would be approximately $460 million as of September 30, 2020. The Company's estimated deficiency fee obligation as of September 30, 2020 is $321 million, of which $131 million is included in other current liabilities in the consolidated balance sheets. The deficiency fee receivable from the buyer of $71 million is included in noncurrent other assets in the consolidated balance sheets. The Company has credit support for the deficiency fee receivable of up to $100 million. Raton transportation commitments. In July 2018, the Company completed the sale of its gas field assets in the Raton Basin to an unaffiliated third party and transferred certain gas transportation commitments, which extend through 2032, to the buyer for which the Company has provided a guarantee. Assuming 100 percent of the remaining commitments are paid by the Company under its guarantee, the maximum amount of future payments would be approximately $80 million as of September 30, 2020. The Company has received credit support for the commitments of up to $50 million. The Company paid $9 million in gas transportation fees associated with the transferred commitment for the nine months ended September 30, 2020 and was fully reimbursed. Certain contractual obligations were retained by the Company after the South Texas Divestiture, the divestiture of the Company's gas field assets in the Raton Basin, the divestiture of the Company's pressure pumping assets and the decommissioning of the Company's sand mine operations in Brady, Texas. These contracts were primarily related to firm transportation and storage agreements in which the Company is unlikely to realize any benefit. The estimated obligations associated with these agreements are included in other current or noncurrent liabilities in the consolidated balance sheets. The changes in contract obligations are as follows: Nine Months Ended September 30, 2020 (in millions) Beginning contract obligations $ 468 Liabilities settled (182) Accretion of discount 10 Changes in estimate (a) 64 Ending contract obligations $ 360 ______________________ (a) Represents changes in the Company's forecasted deficiency fee payments associated with the South Texas Divestiture and the difference between estimated and actual liabilities settled.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In December 2018, the Company completed the sale of its pressure pumping assets to ProPetro in exchange for 16.6 million shares of ProPetro common stock and $110 million of cash that was received during the first quarter of 2019. ProPetro is considered a related party as the shares received represent 16 percent of ProPetro's outstanding common stock. In addition to the sale of equipment and related facilities, the Company entered into a long-term agreement with ProPetro for it to provide pressure pumping and related services. The costs of these services are capitalized in oil and gas properties as incurred. In October 2019, Phillip A. Gobe, a nonemployee member of the Company's board of directors, was appointed by the board of directors of ProPetro to serve as its Executive Chairman, and in March 2020 he was appointed as Chief Executive Officer and Chairman of the Board of Directors. Mark S. Berg, the Company's Executive Vice President, Corporate Operations, serves as a member of the ProPetro board of directors under the Company's right to designate a director to the board of directors of ProPetro so long as the Company owns five percent or more of ProPetro's outstanding common stock. Transactions and balances with ProPetro are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Pressure pumping and related services charges (a) $ 21 $ 134 $ 163 $ 401 ____________________ (a) Includes $6 million and $35 million of idle frac fleet fees for the three and nine months ended September 30, 2020, respectively. As of September 30, 2020 As of December 31, 2019 (in millions) Accounts receivable - due from affiliate (a) $ — $ 3 Accounts payable - due to affiliate (b) $ 39 $ 88 ____________________ (a) Represents employee-related charges that were reimbursed by ProPetro. (b) Represents pressure pumping and related services provided by ProPetro as part of a long-term service agreement. The Company discloses ProPetro's summarized financial information on a one-quarter lag as it enables the Company to report its quarterly results independent from the timing of when ProPetro reports its results. Summarized financial information for ProPetro is as follows: Six Months Ended June 30, 2020 2019 (in millions) Revenue - Service revenue $ 501 $ 1,076 Cost of services (exclusive of depreciation and amortization) $ 369 $ 768 Net income (loss) $ (34) $ 106

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company recognizes revenue when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Disaggregated revenue from contracts with purchasers. Revenues on sales of oil, NGLs, gas and purchased oil and gas are recognized when control of the product is transferred to the purchaser and payment can be reasonably assured. Sales prices for oil, NGLs and gas are negotiated based on factors normally considered in the industry, such as an index or spot price, distance from the well to the pipeline or market, commodity quality and prevailing supply and demand conditions. Accordingly, the prices received by the Company for oil, NGLs and gas sales generally fluctuate similar to changes in the relevant market index prices. Disaggregated revenue from contracts with purchasers by product type is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Oil sales $ 724 $ 1,068 $ 2,101 $ 3,032 NGL sales 129 116 344 373 Gas sales 69 51 172 162 Total oil and gas sales 922 1,235 2,617 3,567 Sales of purchased oil 934 1,166 2,373 3,455 Sales of purchased gas 1 5 18 8 Total sales of purchased oil and gas 935 1,171 2,391 3,463 Total revenue from contracts with purchasers $ 1,857 $ 2,406 $ 5,008 $ 7,030 As of September 30, 2020 and December 31, 2019, the accounts receivable balance representing amounts due or billable under the terms of contracts with purchasers was $602 million and $968 million, respectively.

Interest and Other Income (Loss

Interest and Other Income (Loss), Net	9 Months Ended
	Sep. 30, 2020
Interest and Other Income [Abstract]
Interest and Other Income (Loss), Net	Interest and Other Income (Loss), Net The components of net interest and other income (loss) are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Interest income $ — $ 3 $ 3 $ 15 Deferred compensation plan income 6 4 3 10 Seismic data sales — 5 2 5 Severance and sales tax refunds — 6 — 6 Contingent consideration fair value adjustment ( Note 3 and Note 4 ) 22 (48) (42) (61) Investment in affiliate fair value adjustment ( Note 4 ) (18) (193) (119) (22) Other 3 1 8 5 $ 13 $ (222) $ (145) $ (42)

Other Expense

Other Expense	9 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Other Expense	Other Expense The components of other expense are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Restructuring charges ( Note 3 ) $ 74 $ 1 $ 75 $ 159 South Texas deficiency fee obligation ( Note 4 ) — — 69 — Termination and idle drilling and frac equipment charges (a) 16 5 69 18 Loss on early extinguishment of debt ( Note 7 ) — — 27 — Transportation commitment charges (b) 4 5 12 70 Legal and environmental charges 2 4 7 12 Asset impairment ( Note 4 ) — 4 1 34 Vertical integration services (income) loss, net (c) (2) 1 (1) 19 Asset divestiture-related charges ( Note 3 ) — 4 — 28 Accelerated depreciation ( Note 3 ) — — — 23 Other 4 8 14 27 $ 98 $ 32 $ 273 $ 390 ____________________ (a) Includes idle frac fleet fees, stacked drilling rig charges and drilling rig early termination charges. (b) Primarily represents firm transportation payments on excess pipeline capacity commitments. (c) Vertical integration services (income) loss represents net margins (attributable to third party working interest owners) that result from Company-provided well service operations, which are ancillary to and supportive of the Company's oil and gas joint operating activities, and do not represent intercompany transactions. During the nine months ended September 30, 2019, the Company incurred incremental winding down operating expenses associated with the sale of its pressure pumping services assets and incurred decommissioning operating expenses related to the decommissioning of the Company's Brady sand mine. The components of the vertical integration services net margins are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Gross revenues $ 11 $ 25 $ 36 $ 89 Gross costs and expenses $ 9 $ 26 $ 35 $ 108

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOn March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act ("CARES Act"). The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. The CARES Act did not have a material impact on the Company's current year tax provision or the Company's consolidated financial statements. Income tax benefit (provision) and effective tax rate are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Current tax benefit (provision) $ (1) $ — $ 10 $ — Deferred tax benefit (provision) (3) (72) 8 (127) Income tax benefit (provision) $ (4) $ (72) $ 18 $ (127) Effective tax rate (26 %) 24 % 10 % 24 % The Company evaluates and updates its annual effective income tax rate on an interim basis based on current and forecasted earnings and tax laws. The mix and timing of the Company's actual earnings compared to annual projections can cause interim effective tax rate fluctuations. The Company's interim effective tax rate for the three and nine months ended September 30, 2020 differed from the U.S. statutory rate of 21 percent primarily due to state income taxes and equity compensation. Uncertain tax positions. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based upon the technical merits of the position. As of September 30, 2020 and December 31, 2019, the Company had unrecognized tax benefits ("UTBs") of $39 million for each respective period as a result of research and experimental expenditures related to horizontal drilling and completion innovations. If all or a portion of the UTBs is sustained upon examination by the taxing authorities, the tax benefit will be recorded as a reduction to the Company's deferred tax liability and will affect the Company's effective tax rate in the period it is recorded. The Company expects to substantially resolve the uncertainties associated with the UTBs within the next twelve months. The Company files income tax returns in the U.S. federal and various state and foreign jurisdictions. The Internal Revenue Service has closed examinations of the 2011 and prior tax years and, with few exceptions, the Company believes that it is no longer subject to examinations by state and foreign tax authorities for years before 2012. As of September 30, 2020, no adjustments had been proposed in any jurisdiction that would have a significant effect on the Company's liquidity, future results of operations or financial position.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Presentation	Presentation. In the opinion of management, the unaudited interim consolidated financial statements of the Company as of September 30, 2020 and for the three and nine months ended September 30, 2020 and 2019 include all adjustments and accruals, consisting only of normal, recurring adjustments and accruals necessary for a fair presentation of the results for the interim periods in conformity with generally accepted accounting principles in the United States ("GAAP"). The operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of results for a full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the rules and regulations of the United States Securities and Exchange Commission (the "SEC"). These unaudited interim consolidated financial statements should be read together with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019.
Adoption of new accounting standards and new accounting pronouncements	Adoption of new accounting standards. In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"). Effective January 1, 2020, the Company adopted ASU 2016-13 prospectively. This ASU replaces the incurred loss impairment model with an expected credit loss impairment model for financial instruments, including trade receivables. The amendment requires entities to consider forward-looking information to estimate expected credit losses, resulting in earlier recognition of losses for receivables that are current or not yet due, which were not considered under the previous accounting guidance. The impact of the adoption of ASU 2016-13 was not material. The Company is exposed to credit losses primarily through sales of oil, NGLs, gas and purchased oil and gas. The Company's expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade accounts receivables. Due to the short-term nature of such receivables, the estimated amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of the Company's customers. The Company's monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible. The Company has considered the current and expected future economic and market conditions surrounding the COVID-19 pandemic in determining its estimate of expected credit losses. New accounting pronouncements. In August 2020, the FASB issued ASU 2020-06, "Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity" ("ASU 2020-06"). ASU 2020-06 simplifies the accounting for certain convertible instruments by removing the separation models for convertible debt with a cash conversion feature or convertible instruments with a beneficial conversion feature. As a result, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. Additionally, this ASU amends the diluted earnings per share calculation for convertible instruments by requiring the use of the if-converted method. The treasury stock method will no longer be available. Entities may adopt this ASU using either a full or modified retrospective approach, and it is effective for interim and annual reporting periods beginning after December 15, 2021. Early adoption is permitted for interim and annual reporting periods beginning after December 15, 2020. This ASU is applicable to the Company’s 0.25% convertible senior notes due 2025. The Company is assessing the impact the adoption of this ASU will have on its consolidated financial statements.

Divestitures, Decommissioning a

Divestitures, Decommissioning and Restructuring Activities (Tables)	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of divestiture-related charges	The changes in the Company's total employee-related obligations are as follows: Nine Months Ended 2020 2019 (in millions) Beginning employee-related obligations $ 6 $ 27 Additions (a) 72 133 Cash payments (7) (154) Ending employee-related obligations $ 71 $ 6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis are as follows: As of September 30, 2020 Fair Value Measurement Quoted Prices in Significant Significant Total (in millions) Assets: Commodity price derivatives $ — $ 49 $ — $ 49 Deferred compensation plan assets 68 — — 68 Investment in affiliate 67 — — 67 Total assets 135 49 — 184 Liabilities: Commodity price derivatives — 65 — 65 $ 135 $ (16) $ — $ 119 As of December 31, 2019 Fair Value Measurement Quoted Prices in Active Markets for Identical Assets Significant Significant Total (in millions) Assets: Commodity price derivatives $ — $ 32 $ — $ 32 Deferred compensation plan assets 85 — — 85 Investment in affiliate 187 — — 187 Contingent consideration — 91 — 91 Total assets 272 123 — 395 Liabilities: Commodity price derivatives — 20 — 20 $ 272 $ 103 $ — $ 375
Fair value and fair value adjustments, nonrecurring	Based on management's commodity price outlooks as of September 30, 2020, which represent longer-term commodity price outlooks that are developed based on third party future commodity price estimates as of a measurement date ("Management's Price Outlooks"), the Company determined events and circumstances did not indicate that the carrying value of the Company's proved properties were not recoverable.
Schedule of carrying values and financial instruments not carried at fair value	Carrying values and fair values of financial instruments that are not carried at fair value in the consolidated balance sheets are as follows: As of September 30, 2020 As of December 31, 2019 Carrying Fair Carrying Fair (in millions) Assets: Cash and cash equivalents (a) $ 1,325 $ 1,325 $ 631 $ 631 Restricted cash (a) $ 66 $ 66 $ 74 $ 74 Liabilities: Current portion of long-term debt: Senior notes (b) $ 140 $ 140 $ 450 $ 451 Long-term debt: Convertible senior notes (b) $ 1,088 $ 1,456 $ — $ — Senior notes (b) $ 2,060 $ 2,168 $ 1,839 $ 1,995 ______________________ (a) Fair value approximates carrying value due to the short-term nature of the instruments. (b) Fair value is determined using Level 2 inputs. The Company's senior notes are quoted, but not actively traded on major exchanges; therefore, fair value is based on periodic values as quoted on major exchanges. See Note 7 for additional information.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of oil derivative contracts volume and weighted average price	The Company's outstanding oil derivative contracts as of September 30, 2020 and the weighted average oil prices per barrel for those contracts are as follows: 2020 Year Ending December 31, 2021 Fourth Quarter Brent collar contracts with short puts: (a) Volume per day (Bbl) 115,500 — Price per Bbl: Ceiling $ 69.78 $ — Floor $ 62.06 $ — Short put $ 53.56 $ — Brent swap contracts: Volume per day (Bbl) 155,200 — Price per Bbl $ 36.47 $ — Brent call contracts sold: Volume per Bbl (b) — 20,000 Price per Bbl $ — $ 69.74 Brent collar contracts with short puts: Volume per day (Bbl) (c) 30,000 96,000 Price per Bbl: Ceiling $ 43.09 $ 50.61 Floor $ 34.83 $ 44.79 Short put $ 24.83 $ 34.88 ______________________ (a) Represents collar contracts with short puts that were entered into prior to March 2020. During and subsequent to March 2020, the Company entered into incremental swap contracts and collar contracts with short puts to provide additional downside price protection for its 2020 volumes. (b) The referenced call contracts were sold in exchange for higher ceiling prices on certain 2020 collar contracts with short puts. (c) Subsequent to September 30, 2020, the Company liquidated certain 2021 Brent collar contracts with short puts totaling 6,000 Bbls per day for cash proceeds of $241 thousand.
Schedule of gas derivative volume and weighted average prices	The Company's outstanding gas derivative contracts as of September 30, 2020 and the weighted average gas prices per MMBtu for those contracts are as follows: 2020 Year Ending December 31, 2021 Fourth Quarter NYMEX swap contracts: Volume per day (MMBtu) 16,739 152,466 Price per MMBtu $ 2.43 $ 2.66 NYMEX collar contracts: Volume per day (MMBtu) — 150,000 Price per MMBtu: Ceiling $ — $ 3.15 Floor $ — $ 2.50 Basis swap contracts: Permian Basin index swap volume per day (MMBtu) (a) 16,739 2,466 Price differential ($/MMBtu) $ (1.59) $ (1.46) ______________________ (a) The referenced basis swap contracts fix the basis differentials between the index price at which the Company sells its Permian Basin gas and the NYMEX index prices used in swap contracts.
Offsetting asset and liability	The fair value of derivative financial instruments not designated as hedging instruments is as follows: As of September 30, 2020 Type Consolidated Fair Gross Amounts Net Fair Value (in millions) Assets: Commodity price derivatives Derivatives - current $ 49 $ — $ 49 Liabilities: Commodity price derivatives Derivatives - current $ 51 $ — $ 51 Commodity price derivatives Derivatives - noncurrent $ 14 $ — $ 14 As of December 31, 2019 Type Consolidated Fair Gross Amounts Net Fair Value (in millions) Assets: Commodity price derivatives Derivatives - current $ 32 $ — $ 32 Contingent consideration Other assets - noncurrent $ 91 $ — $ 91 Liabilities: Commodity price derivatives Derivatives - current $ 12 $ — $ 12 Commodity price derivatives Derivatives - noncurrent $ 8 $ — $ 8
Schedule of derivative gains and losses recognized on statement of operations	Gains and losses on derivative contracts are as follows: Derivatives Not Designated Location of Gain (Loss) Recognized Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Commodity price derivatives Derivative gain (loss), net $ (57) $ 121 $ 82 $ 150 Interest rate derivatives Derivative gain (loss), net $ — $ — $ (22) $ — Contingent consideration Interest and other income $ 22 $ (48) $ (42) $ (61)

Exploratory Costs (Tables)

Exploratory Costs (Tables)	9 Months Ended
	Sep. 30, 2020
Extractive Industries [Abstract]
Schedule of Capitalized Exploratory Well and Project Activity	The changes in capitalized exploratory well costs are as follows: Nine Months Ended September 30, 2020 (in millions) Beginning capitalized exploratory well costs $ 660 Additions to exploratory well costs pending the determination of proved reserves 975 Reclassification due to determination of proved reserves (1,131) Ending capitalized exploratory well costs $ 504
Aging of Capitalized Exploratory Costs	Aging of capitalized exploratory costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year, based on the date drilling was completed, are as follows: As of As of (in millions, except well counts) Capitalized exploratory well costs that have been suspended: One year or less $ 501 $ 660 More than one year 3 — $ 504 $ 660 Number of wells or projects with exploratory well costs that have been 1 — ______________________ (a) The one exploratory well that has been suspended for a period greater than one year is scheduled to be completed during the first half of 2021.

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	The components of long-term debt, including the effects of issuance costs and issuance discounts, are as follows: As of September 30, 2020 As of December 31, 2019 (in millions) Outstanding debt principal balances: 7.50% senior notes due 2020 $ — $ 450 3.45% senior notes due 2021 140 500 3.95% senior notes due 2022 244 600 0.25% convertible senior notes due 2025 1,323 — 4.45% senior notes due 2026 500 500 7.20% senior notes due 2028 241 250 1.90% senior notes due 2030 1,100 — 3,548 2,300 Issuance costs and discounts (260) (11) Total debt 3,288 2,289 Less current portion of long-term debt (140) (450) Long-term debt $ 3,148 $ 1,839 The principal amount and related unamortized issuance costs and discount on the Convertible Notes are as follows: As of (in millions) Principal amount of Convertible Notes $ 1,323 Unamortized issuance costs and discount on Convertible Notes (a) (235) Net carrying value $ 1,088 ______________________ (a) Amortized to interest expense at an effective interest rate of 4.3% over five years.
Interest Costs	The interest costs recognized on the Convertible Notes are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Contractual interest coupon $ 1 $ — $ 1 $ — Amortization of debt discount and issuance costs 12 — 19 — $ 13 $ — $ 20 $ —

Incentive Plans (Tables)

Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Compensation Related Costs [Abstract]
Schedule of stock-based compensation expense	Stock-based compensation expense is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Restricted stock - Equity Awards $ 15 $ 14 $ 37 $ 65 Restricted stock - Liability Awards (a) 4 2 7 14 Performance unit awards 6 5 15 15 Employee stock purchase plan — — 2 1 $ 25 $ 21 $ 61 $ 95 ______________________ (a) Liability Awards are expected to be settled on their vesting date in cash. As of September 30, 2020 and December 31, 2019, accounts payable – due to affiliates included $5 million and $11 million, respectively, of liabilities attributable to Liability Awards.
Schedule of share based incentive award activity	Activity for restricted stock awards, performance units and stock options is as follows: Nine Months Ended September 30, 2020 Restricted Restricted Performance Stock Options Beginning incentive compensation awards 824,193 246,851 116,215 121,953 Awards granted 383,771 135,176 132,621 — Awards forfeited (12,438) (5,257) — — Awards vested (a) (319,203) (102,588) (4,735) — Options exercised — — — (7,728) Ending incentive compensation awards 876,323 274,182 244,101 114,225 ______________________ (a) Per the terms of award agreements and elections, the issuance of common stock may be deferred for certain restricted stock equity awards, performance units and stock options that vest during the period.

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2020
Asset Retirement Obligation [Abstract]
Schedule of asset retirement obligations	The changes in asset retirement obligations are as follows: Nine Months Ended September 30, 2020 (in millions) Beginning asset retirement obligations $ 191 New wells placed on production 2 Changes in estimates (a) (3) Liabilities settled (30) Accretion of discount 7 Ending asset retirement obligations 167 Less current portion of asset retirement obligations (32) Asset retirement obligations - noncurrent $ 135 ______________________

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Schedule of Changes in Contract Obligations	The changes in contract obligations are as follows: Nine Months Ended September 30, 2020 (in millions) Beginning contract obligations $ 468 Liabilities settled (182) Accretion of discount 10 Changes in estimate (a) 64 Ending contract obligations $ 360 ______________________ (a) Represents changes in the Company's forecasted deficiency fee payments associated with the South Texas Divestiture and the difference between estimated and actual liabilities settled.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Schedule of related party transactions and balances	Transactions and balances with ProPetro are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Pressure pumping and related services charges (a) $ 21 $ 134 $ 163 $ 401 ____________________ (a) Includes $6 million and $35 million of idle frac fleet fees for the three and nine months ended September 30, 2020, respectively. As of September 30, 2020 As of December 31, 2019 (in millions) Accounts receivable - due from affiliate (a) $ — $ 3 Accounts payable - due to affiliate (b) $ 39 $ 88 ____________________ (a) Represents employee-related charges that were reimbursed by ProPetro. (b) Represents pressure pumping and related services provided by ProPetro as part of a long-term service agreement. The Company discloses ProPetro's summarized financial information on a one-quarter lag as it enables the Company to report its quarterly results independent from the timing of when ProPetro reports its results. Summarized financial information for ProPetro is as follows: Six Months Ended June 30, 2020 2019 (in millions) Revenue - Service revenue $ 501 $ 1,076 Cost of services (exclusive of depreciation and amortization) $ 369 $ 768 Net income (loss) $ (34) $ 106

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Disaggregated revenue from contracts with purchasers by product type is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Oil sales $ 724 $ 1,068 $ 2,101 $ 3,032 NGL sales 129 116 344 373 Gas sales 69 51 172 162 Total oil and gas sales 922 1,235 2,617 3,567 Sales of purchased oil 934 1,166 2,373 3,455 Sales of purchased gas 1 5 18 8 Total sales of purchased oil and gas 935 1,171 2,391 3,463 Total revenue from contracts with purchasers $ 1,857 $ 2,406 $ 5,008 $ 7,030

Interest and Other Income (Lo_2

Interest and Other Income (Loss), Net (Tables)	9 Months Ended
	Sep. 30, 2020
Interest and Other Income [Abstract]
Components of interest and other income (loss), net	The components of net interest and other income (loss) are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Interest income $ — $ 3 $ 3 $ 15 Deferred compensation plan income 6 4 3 10 Seismic data sales — 5 2 5 Severance and sales tax refunds — 6 — 6 Contingent consideration fair value adjustment ( Note 3 and Note 4 ) 22 (48) (42) (61) Investment in affiliate fair value adjustment ( Note 4 ) (18) (193) (119) (22) Other 3 1 8 5 $ 13 $ (222) $ (145) $ (42)

Other Expense (Tables)

Other Expense (Tables)	9 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Schedule of components of other expense	The components of other expense are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Restructuring charges ( Note 3 ) $ 74 $ 1 $ 75 $ 159 South Texas deficiency fee obligation ( Note 4 ) — — 69 — Termination and idle drilling and frac equipment charges (a) 16 5 69 18 Loss on early extinguishment of debt ( Note 7 ) — — 27 — Transportation commitment charges (b) 4 5 12 70 Legal and environmental charges 2 4 7 12 Asset impairment ( Note 4 ) — 4 1 34 Vertical integration services (income) loss, net (c) (2) 1 (1) 19 Asset divestiture-related charges ( Note 3 ) — 4 — 28 Accelerated depreciation ( Note 3 ) — — — 23 Other 4 8 14 27 $ 98 $ 32 $ 273 $ 390 ____________________ (a) Includes idle frac fleet fees, stacked drilling rig charges and drilling rig early termination charges. (b) Primarily represents firm transportation payments on excess pipeline capacity commitments. (c) Vertical integration services (income) loss represents net margins (attributable to third party working interest owners) that result from Company-provided well service operations, which are ancillary to and supportive of the Company's oil and gas joint operating activities, and do not represent intercompany transactions. During the nine months ended September 30, 2019, the Company incurred incremental winding down operating expenses associated with the sale of its pressure pumping services assets and incurred decommissioning operating expenses related to the decommissioning of the Company's Brady sand mine. The components of the vertical integration services net margins are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Gross revenues $ 11 $ 25 $ 36 $ 89 Gross costs and expenses $ 9 $ 26 $ 35 $ 108

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of income tax provision and effective tax rate	Income tax benefit (provision) and effective tax rate are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Current tax benefit (provision) $ (1) $ — $ 10 $ — Deferred tax benefit (provision) (3) (72) 8 (127) Income tax benefit (provision) $ (4) $ (72) $ 18 $ (127) Effective tax rate (26 %) 24 % 10 % 24 %

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of earnings attributable to common stockholders, basic and diluted	The components of basic and diluted net income (loss) per share attributable to common stockholders are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Net income (loss) attributable to common $ (20) $ 231 $ (170) $ 412 Participating share-based earnings — (1) — (2) Basic and diluted net income (loss) attributable to common stockholders $ (20) $ 230 $ (170) $ 410 Basic and diluted weighted average shares 165 167 165 168

Organization and Nature of Op_2

Organization and Nature of Operations (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposition of assets	$ 58	$ 82

Basis of Presentation Policies

Basis of Presentation Policies (Details)	Sep. 30, 2020Rate	May 31, 2020
0.25% Convertible Senior notes due 2025 | Senior notes
Debt Instrument [Line Items]
Stated interest rate	0.25%	0.25%

Divestitures, Decommissioning_2

Divestitures, Decommissioning and Restructuring Activities (Narrative) (Details) $ in Millions	Jun. 30, 2019a	Oct. 31, 2020employee	Jul. 31, 2020USD ($)	Jun. 30, 2020employee	May 31, 2020USD ($)a	Jul. 31, 2019USD ($)a	Jun. 30, 2019USD ($)a	May 31, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)a	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Jul. 01, 2022	Jan. 01, 2021USD ($)	Dec. 31, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds												$ 58	$ 82
Gain (loss) on disposition of assets, net									$ 2	$ 20		7	(477)
Contingent Consideration, Valuation Adjustment									22	(48)		(42)	(61)
Contingent consideration																$ 91
South Texas deficiency fee obligation									0	0		69	0
Restricted cash									66			66				74
Accelerated depreciation									0	0		0	23
Staffing reduction, employees | employee				50
Restructuring charges									74	$ 1		75	159
Employee severance
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncash stock-based compensation expense													23
Restructuring charges												72	133
Employee severance | 2020 Corporate Restructuring
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges									74			74
Accelerated vesting of certain equity awards | 2020 Corporate Restructuring
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncash stock-based compensation expense									3			3
Subsequent event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Staffing reduction, employees | employee		300
Significant Other Observable Inputs (Level 2)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration																$ 91
Vertical Wells in Upton County
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale					$ 6
Certain Vertical Wells in Martin County of the Permian Basin
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale						$ 26	$ 31
South Texas Divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds								$ 2
Cash proceeds, before normal closing adjustments								210
Receivable from buyer									71			71
Gain (loss) on disposition of assets, net					$ 525
Contingent consideration								136
Contingent Consideration, Valuation Adjustment												22
Deficiency fee liability									(321)			(321)
Contingent consideration period					5 years
Disposal Group, Contingent Consideration Received			$ 49
South Texas Divestiture | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Retained obligation percentage														100.00%
Escrow															$ 50
South Texas Divestiture | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Retained obligation percentage	100.00%
Deficiency fee liability									$ 460			460
South Texas Divestiture | Maximum | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Retained obligation percentage														100.00%
Buyer recovery percentage														18.00%
South Texas Divestiture | South Texas Divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivable from buyer								$ 72
Pressure pumping assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of inventory and other property and other equipment													16
Sand mine
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accelerated depreciation											$ 12	$ 23
Impairment of inventory and other property and other equipment													$ 13
Sold | Vertical Wells in Upton County
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acres | a					1,500
Cash proceeds					$ 6
Sold | Certain Vertical Wells in Martin County of the Permian Basin
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acres | a	1,900					1,400	1,900				1,900
Cash proceeds						$ 27	$ 38

Divestitures, Decommissioning_3

Divestitures, Decommissioning and Restructuring Activities (Schedule of Restructuring and Employee Related Costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
Additions	$ 74	$ 1	$ 75	$ 159
Employee severance
Restructuring Reserve [Roll Forward]
Beginning employee-related obligations			6	27
Additions			72	133
Cash payments			(7)	(154)
Noncash changes				(23)
Ending employee-related obligations	71	$ 6	71	6
Employee severance | 2020 Corporate Restructuring
Restructuring Reserve [Roll Forward]
Additions	$ 74		74
Employee severance | 2019 Corporate Restructuring Program
Restructuring Reserve [Roll Forward]
Additions				$ 156
Employee severance | Well services business
Restructuring Reserve [Roll Forward]
Additions			$ 1

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Assets:
Deferred compensation plan assets	$ 68	$ 85
Investment in affiliate	67	187
Contingent consideration		91
Total assets	184	395
Liabilities:
Total recurring fair value measurements	119	375
Investment in affiliate	67	187
Commodity price derivatives | Other assets - noncurrent | Derivatives not designated as hedging instruments
Liabilities:
Fair Value		91
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Deferred compensation plan assets	68	85
Investment in affiliate	67	187
Contingent consideration		0
Total assets	135	272
Liabilities:
Total recurring fair value measurements	135	272
Investment in affiliate	67	187
Significant Other Observable Inputs (Level 2)
Assets:
Deferred compensation plan assets	0	0
Investment in affiliate	0	0
Contingent consideration		91
Total assets	49	123
Liabilities:
Total recurring fair value measurements	(16)	103
Investment in affiliate	0	0
Significant Unobservable Inputs (Level 3)
Assets:
Deferred compensation plan assets	0	0
Investment in affiliate	0	0
Contingent consideration		0
Total assets	0	0
Liabilities:
Total recurring fair value measurements	0	0
Investment in affiliate	0	0
Commodity price derivatives
Assets:
Commodity price derivatives	49	32
Liabilities:
Commodity price derivatives	65	20
Commodity price derivatives | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Commodity price derivatives	0	0
Liabilities:
Commodity price derivatives	0	0
Commodity price derivatives | Significant Other Observable Inputs (Level 2)
Assets:
Commodity price derivatives	49	32
Liabilities:
Commodity price derivatives	65	20
Commodity price derivatives | Significant Unobservable Inputs (Level 3)
Assets:
Commodity price derivatives	0	0
Liabilities:
Commodity price derivatives	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2020	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	May 31, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
South Texas deficiency fee obligation		$ 0	$ 0	$ 69	$ 0
Goodwill		$ 261		$ 261		$ 261
Sand mine
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of inventory and other property and other equipment					13
Pressure pumping assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of inventory and other property and other equipment					$ 16
South Texas Divestiture
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration period	5 years
Contingent consideration							$ 136
Annual discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, cash payment, measurement input							0.036
Contingent consideration, cash receipt, measurement input							0.032

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Carrying Values and Financial Instruments Not Carried at Fair Value) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended					9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 1,325					$ 1,325		$ 631
Restricted cash	66					66		74
Less current portion of long-term debt	140					140		450
Long-term debt	$ 3,148					$ 3,148		1,839
Dividends declared per share	$ 0.55	$ 0.55	$ 0.55	$ 0.44	$ 0.32	$ 1.65	$ 0.76
Senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 2,060					$ 2,060		1,839
Convertible Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	1,088					1,088		0
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Less current portion of long-term debt	140					140		451
Estimate of Fair Value Measurement [Member] | Senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	2,168					2,168		1,995
Estimate of Fair Value Measurement [Member] | Convertible Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	1,456					1,456		0
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,325					1,325		631
Cash and cash equivalents, Fair Value	$ 1,325					$ 1,325		$ 631

Derivative Financial Instrume_3

Derivative Financial Instruments (Schedule of Oil Derivative Contracts Volume and Weighted Average Prices) (Details) $ in Thousands	1 Months Ended
	Nov. 05, 2020USD ($)bbl / d	Sep. 30, 2020bbl / d$ / bbl$ / MMBTU
Oil contracts | Brent swap contracts, Fourth Quarter
Derivative [Line Items]
Volume, barrels per day | bbl / d		155,200
Oil contracts | Brent swap contracts, Next Year
Derivative [Line Items]
Volume, barrels per day | bbl / d		0
Oil contracts | Brent collar contracts with short puts, Fourth Quarter
Derivative [Line Items]
Volume, barrels per day | bbl / d		30,000
Oil contracts | Brent Collar Contracts Entered in March With Short Puts for Fourth Quarter of Year One [Member]
Derivative [Line Items]
Volume, barrels per day | bbl / d		115,500
Ceiling, price per barrel		69.78
Floor, price per barrel		62.06
Short put, price per barrel		53.56
Oil contracts | Brent collar contracts with short puts, Next Year
Derivative [Line Items]
Volume, barrels per day | bbl / d		96,000
Oil contracts | Brent collar contracts with short puts, Next Year | Subsequent event
Derivative [Line Items]
Volume, barrels per day | bbl / d	6,000
Gain (Loss) on Derivative Liquidaton | $	$ 241
Oil contracts | Brent Collar Contracts Entered in March With Short Puts for Year Two [Member]
Derivative [Line Items]
Volume, barrels per day | bbl / d		0
Ceiling, price per barrel		0
Floor, price per barrel		0
Short put, price per barrel		0
Oil contracts | Brent call contracts sold, Fourth Quarter
Derivative [Line Items]
Volume, barrels per day | bbl / d		0
Oil contracts | Brent call contracts sold, Next Year
Derivative [Line Items]
Volume, barrels per day | bbl / d		20,000
Oil contracts, price per bbl | Brent swap contracts, Fourth Quarter
Derivative [Line Items]
Price per Bbl in usd | $ / MMBTU		36.47
Oil contracts, price per bbl | Brent swap contracts, Next Year
Derivative [Line Items]
Price per Bbl in usd | $ / MMBTU		0
Oil contracts, price per bbl | Brent collar contracts with short puts, Fourth Quarter
Derivative [Line Items]
Ceiling, price per barrel		43.09
Floor, price per barrel		34.83
Short put, price per barrel		24.83
Oil contracts, price per bbl | Brent collar contracts with short puts, Next Year
Derivative [Line Items]
Ceiling, price per barrel		50.61
Floor, price per barrel		44.79
Short put, price per barrel		34.88
Oil contracts, price per bbl | Brent call contracts sold, Fourth Quarter
Derivative [Line Items]
Price per Bbl in usd | $ / MMBTU		0
Oil contracts, price per bbl | Brent call contracts sold, Next Year
Derivative [Line Items]
Price per Bbl in usd | $ / MMBTU		69.74

Derivative Financial Instrume_4

Derivative Financial Instruments (Schedule of Gas Derivative Contracts Volume and Weighted Average Prices) (Details) $ in Millions	1 Months Ended
	May 31, 2020	Sep. 30, 2020MMBTU / d$ / bbl$ / MMBTU	May 31, 2019USD ($)
South Texas Divestiture
Derivative [Line Items]
Contingent consideration | $			$ 136
Contingent consideration period	5 years
Swap contracts, Fourth Quarter | Gas contracts, in MMBTU
Derivative [Line Items]
Volume, barrels per day | MMBTU / d		16,739
Swap contracts, Fourth Quarter | Gas contracts, price per MMBTU
Derivative [Line Items]
Price per MMBtu in usd | $ / MMBTU		2.43
Swap Contracts For Year Two | Gas contracts, in MMBTU
Derivative [Line Items]
Volume, barrels per day | MMBTU / d		152,466
Swap Contracts For Year Two | Gas contracts, price per MMBTU
Derivative [Line Items]
Price per MMBtu in usd | $ / MMBTU		2.66
Basis swap contracts, Fourth Quarter | Gas contracts, in MMBTU | Permian Basin
Derivative [Line Items]
Volume, barrels per day | MMBTU / d		16,739
Basis swap contracts, Fourth Quarter | Gas contracts, price per MMBTU | Permian Basin
Derivative [Line Items]
Price differential, dollars per barrel | $ / MMBTU		(1.59)
Basis Swap Contracts for Year Two | Gas contracts, in MMBTU | Permian Basin
Derivative [Line Items]
Volume, barrels per day | MMBTU / d		2,466
Basis Swap Contracts for Year Two | Gas contracts, price per MMBTU | Permian Basin
Derivative [Line Items]
Price differential, dollars per barrel | $ / MMBTU		(1.46)
Permian collar contracts for the Fourth Quarter of Year One [Member] | Gas contracts, in MMBTU
Derivative [Line Items]
Volume, barrels per day | MMBTU / d		0
Ceiling, price per barrel | $ / bbl		0
Short put, price per barrel | $ / MMBTU		0
Permian collar contracts for Year Two [Member] | Gas contracts, in MMBTU
Derivative [Line Items]
Volume, barrels per day | MMBTU / d		150,000
Ceiling, price per barrel | $ / bbl		3.15
Short put, price per barrel | $ / MMBTU		2.50

Derivative Financial Instrume_5

Derivative Financial Instruments (Schedule of Derivative Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Assets:
Net Fair Value Presented in the Consolidated Balance Sheet	$ 49	$ 32
Liabilities:
Net Fair Value Presented in the Consolidated Balance Sheet	51	12
Derivatives	14	8
Derivatives not designated as hedging instruments | Commodity price derivatives | Derivatives - current
Assets:
Fair Value	49	32
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Fair Value Presented in the Consolidated Balance Sheet	49	32
Liabilities:
Fair Value	51	12
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Fair Value Presented in the Consolidated Balance Sheet	51	12
Derivatives not designated as hedging instruments | Commodity price derivatives | Derivatives - noncurrent
Liabilities:
Fair Value	14	8
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Derivatives	$ 14	8
Derivatives not designated as hedging instruments | Commodity price derivatives | Other assets - noncurrent
Assets:
Fair Value		91
Net Fair Value Presented in the Consolidated Balance Sheet		91
Derivatives not designated as hedging instruments | Contingent consideration | Other assets - noncurrent
Assets:
Gross Amounts Offset in the Consolidated Balance Sheet		$ 0

Derivative Financial Instrume_6

Derivative Financial Instruments (Schedule of Derivative Obligations Under Terminated Hedge Arrangements) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative [Line Items]
Derivative gain (loss), net	$ (57)	$ 121	$ 60	$ 150
Contingent Consideration, Valuation Adjustment	22	(48)	(42)	(61)
Derivative gain (loss), net | Commodity price derivatives
Derivative [Line Items]
Derivative gain (loss), net	(57)	121	82	150
Derivative gain (loss), net | Interest rate derivatives
Derivative [Line Items]
Derivative gain (loss), net	$ 0	$ 0	$ (22)	$ 0

Exploratory Costs (Schedule of

Exploratory Costs (Schedule of Capitalized Exploratory Well and Project Activity) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Increase (Decrease) in Capitalized Exploratory Well Costs that are Pending Determination of Proved Reserves [Roll Forward]
Beginning capitalized exploratory well costs	$ 660
Additions to exploratory well costs pending the determination of proved reserves	975
Reclassification due to determination of proved reserves	(1,131)
Ending capitalized exploratory well costs	$ 504

Exploratory Costs (Aging of Cap

Exploratory Costs (Aging of Capitalized Exploratory Costs) (Details) $ in Millions	Sep. 30, 2020USD ($)Well	Dec. 31, 2019USD ($)Well
Extractive Industries [Abstract]
One year or less	$ 501	$ 660
More than one year	3	0
Total	$ 504	$ 660
Number of wells or projects with exploratory well costs that have been suspended for a period greater than one year (a) | Well	1	0

Long-term Debt (Schedule of Lon

Long-term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2020	May 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 3,548				$ 2,300
Issuance costs and discounts	260				11
Total debt	3,288				2,289
Less current portion of long-term debt	(140)				(450)
Long-term debt	3,148				1,839
Senior notes
Debt Instrument [Line Items]
Long-term debt	2,060				1,839
7.50% Senior notes due 2020 | Senior notes
Debt Instrument [Line Items]
Stated interest rate		7.50%
Long-term debt	0				450
3.45% Senior Notes due 2021 | Senior notes
Debt Instrument [Line Items]
Stated interest rate		3.45%	3.45%
Long-term debt	140				500
3.95% Senior notes due 2022 | Senior notes
Debt Instrument [Line Items]
Stated interest rate		3.95%
Long-term debt	244				600
0.25% Convertible Senior notes due 2025 | Senior notes
Debt Instrument [Line Items]
Stated interest rate		0.25%		0.25%
Long-term debt	1,323				0
Issuance costs and discounts	(235)
Total debt	1,088
4.45% Senior notes due 2026 | Senior notes
Debt Instrument [Line Items]
Stated interest rate		4.45%
Long-term debt	500				500
7.20% Senior notes due 2028 | Senior notes
Debt Instrument [Line Items]
Stated interest rate		7.20%
Long-term debt	241				250
1.90% Senior notes due 2030 [Member] | Senior notes
Debt Instrument [Line Items]
Stated interest rate		1.90%
Long-term debt	1,100				$ 0
Issuance costs and discounts	(19)
Total debt	$ 1,080

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details)	1 Months Ended		3 Months Ended		9 Months Ended
	May 31, 2020USD ($)Well$ / shares	Jan. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020Rate	Aug. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Aggregate loan commitments							$ 1,500,000,000
Outstanding borrowing							0
Strike price | $ / shares	$ 109.77
Cap price | $ / shares	$ 156.21
Net costs	$ 113,000,000
Cash tender offer	725,000,000
Expensed unamortized debt discounts and issuance costs	2,000,000
Loss on early extinguishment of debt	23,000,000		$ 0	$ 0	$ 27,000,000	$ 0
Issuance costs and discounts							(260,000,000)			$ (11,000,000)
Total debt							3,288,000,000			$ 2,289,000,000
Senior notes | 1.90% Senior notes due 2030 [Member]
Debt Instrument [Line Items]
Principal									$ 1,100,000,000
Stated interest rate | Rate								1.90%
Issuance costs and discounts							19,000,000
Total debt							1,080,000,000
Senior notes | 0.25% Convertible Senior notes due 2025
Debt Instrument [Line Items]
Principal	$ 1,300,000,000
Stated interest rate	0.25%							0.25%
Initial conversion rate	0.0091098
Initial conversion price | $ / shares	$ 109.77
Threshold conversion price percent	130.00%
Threshold stock price trigger percent	98.00%
Threshold trading days | Well	20
Threshold consecutive trading days | Well	30
Conversion ratio percent	100.00%
Issuance costs and discounts							235,000,000
Total debt							$ 1,088,000,000
Senior notes | 3.45% Senior Notes due 2021
Debt Instrument [Line Items]
Stated interest rate			3.45%		3.45%			3.45%
Debt settlement amount	$ 360,000,000
Senior notes | 3.95% Senior notes due 2022
Debt Instrument [Line Items]
Stated interest rate | Rate								3.95%
Debt settlement amount	356,000,000
Senior notes | 7.20% Senior notes due 2028
Debt Instrument [Line Items]
Stated interest rate | Rate								7.20%
Debt settlement amount	$ 9,000,000
Senior notes | 7.50% Senior notes due 2020
Debt Instrument [Line Items]
Stated interest rate | Rate								7.50%
Debt principal payment		$ 450,000,000

Long-term Debt (Principal and I

Long-term Debt (Principal and Issuance Costs and Discounts) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal amount of Convertible Notes	$ 3,548	$ 2,300
Issuance costs and discounts	260	11
Total debt	$ 3,288	2,289
Effective interest rate	4.30%
Senior notes | 0.25% Convertible Senior notes due 2025
Debt Instrument [Line Items]
Principal amount of Convertible Notes	$ 1,323	$ 0
Issuance costs and discounts	(235)
Total debt	$ 1,088
Effective interest rate period	5 years

Long-term Debt (Interest Costs)

Long-term Debt (Interest Costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Disclosure [Abstract]
Amortization of debt discount and issuance costs			$ 34	$ 4
Debt Instrument [Line Items]
Interest expense			34	4
Senior notes
Debt Disclosure [Abstract]
Contractual interest coupon	$ 1	$ 0	1	0
Amortization of debt discount and issuance costs	12	0	19	0
Interest expense	13	0	20	0
Debt Instrument [Line Items]
Contractual interest coupon	1	0	1	0
Interest expense	12	0	19	0
Interest expense	$ 13	$ 0	$ 20	$ 0

Incentive Plans (Schedule of St

Incentive Plans (Schedule of Stock-based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 25	$ 21	$ 61	$ 95
Due to affiliates	137		137		$ 190
Unrecognized stock-based compensation expense	98		$ 98
Remaining vesting period awards (less than)			3 years
Restricted stock - Equity Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	15	14	$ 37	65
Restricted Stock Liability Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	4	2	7	14
Unrecognized stock-based compensation expense	17		17
Restricted Stock Liability Awards | Affiliates
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Due to affiliates	5		5		$ 11
Performance unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	6	5	15	15
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0	$ 0	$ 2	$ 1

Incentive Plans (Share Based In

Incentive Plans (Share Based Incentive Award Activity) (Details)	9 Months Ended
	Sep. 30, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance outstanding, shares	121,953
Awards granted, shares	0
Awards forfeited, shares	0
Awards exercised, shares	0
Awards exercised, shares	(7,728)
Ending balance outstanding, shares	114,225
Restricted Stock Equity Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance outstanding, shares	824,193
Awards granted, shares	383,771
Awards forfeited, shares	(12,438)
Awards vested, shares	(319,203)
Awards exercised, shares	0
Ending balance outstanding, shares	876,323
Restricted Stock Liability Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance outstanding, shares	246,851
Awards granted, shares	135,176
Awards forfeited, shares	(5,257)
Awards vested, shares	(102,588)
Awards exercised, shares	0
Ending balance outstanding, shares	274,182
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance outstanding, shares	116,215
Awards granted, shares	132,621
Awards forfeited, shares	0
Awards vested, shares	(4,735)
Awards exercised, shares	0
Ending balance outstanding, shares	244,101

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning asset retirement obligations			$ 191
New wells placed on production			2
Changes in estimate			(3)
Accretion of discount	$ 2	$ 2	7	$ 7
Ending asset retirement obligations	167		167
Less current portion of asset retirement obligations	(32)		(32)
Asset retirement obligations - noncurrent	$ 135		135
Asset Retirement Obligation, Liabilities Settled			$ (30)

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2020	Jul. 01, 2022	Dec. 31, 2032	May 31, 2019
South Texas Divestiture
Loss Contingencies [Line Items]
Deficiency fee liability		$ (321)
Receivable from buyer		71
Credit support from third parties		100
South Texas Divestiture | Maximum
Loss Contingencies [Line Items]
Retained obligation percentage	100.00%
Deficiency fee liability		460
South Texas Divestiture | Forecast
Loss Contingencies [Line Items]
Retained obligation percentage			100.00%
South Texas Divestiture | Forecast | Maximum
Loss Contingencies [Line Items]
Retained obligation percentage			100.00%
Buyer recovery percentage			18.00%
Raton transportation commitments
Loss Contingencies [Line Items]
Credit support from third parties		50
Deficiency Fees Paid and Reimbursed		9
Raton transportation commitments | Maximum
Loss Contingencies [Line Items]
Deficiency fee liability		80
Raton transportation commitments | Forecast | Maximum
Loss Contingencies [Line Items]
Retained obligation percentage				100.00%
South Texas Divestiture | South Texas Divestiture
Loss Contingencies [Line Items]
Receivable from buyer					$ 72
South Texas Divestiture | Other current liabilities | South Texas Divestiture
Loss Contingencies [Line Items]
Monetary sanctions		$ (131)

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Changes in Contract Obligations) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Loss Contingency Accrual [Roll Forward]
Beginning contract obligations	$ 468
Liabilities settled	(182)
Accretion of discount	10
Changes in estimate	64
Ending contract obligations	360
South Texas Divestiture
Loss Contingency Accrual [Roll Forward]
Deficiency fee liability	$ (321)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) shares in Millions, $ in Millions	Oct. 19, 2020	Dec. 31, 2018	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Pressure pumping and related services charges			$ 21	$ 134			$ 163	$ 401
Accounts receivable - due from affiliate			0				0		$ 3
Accounts payable - due to affiliate			39				39		$ 88
Revenue - Service revenue			1,857	2,406			5,008	7,030
Income (loss) before income taxes			(16)	$ 303			(188)	$ 539
Subsequent event
Related Party Transaction [Line Items]
Ownership threshold for right to designate director	5.00%
Idle frac fleet fees
Related Party Transaction [Line Items]
Pressure pumping and related services charges			$ 6				$ 35
ProPetro
Related Party Transaction [Line Items]
Revenue - Service revenue					$ 501	$ 1,076
Costs and expenses					369	768
Income (loss) before income taxes					$ (34)	106
ProPetro | ProPetro
Related Party Transaction [Line Items]
Ownership percentage			16.00%				16.00%
ProPetro | Pressure pumping assets | Sale of assets
Related Party Transaction [Line Items]
Shares received (shares)		16.6
Short-term receivable						$ 110

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue - Service revenue	$ 1,857	$ 2,406	$ 5,008	$ 7,030
Oil sales
Disaggregation of Revenue [Line Items]
Revenue - Service revenue	724	1,068	2,101	3,032
NGL sales
Disaggregation of Revenue [Line Items]
Revenue - Service revenue	129	116	344	373
Gas sales
Disaggregation of Revenue [Line Items]
Revenue - Service revenue	69	51	172	162
Total oil and gas sales
Disaggregation of Revenue [Line Items]
Revenue - Service revenue	922	1,235	2,617	3,567
Sales of purchased oil
Disaggregation of Revenue [Line Items]
Revenue - Service revenue	934	1,166	2,373	3,455
Sales of purchased gas
Disaggregation of Revenue [Line Items]
Revenue - Service revenue	1	5	18	8
Total sales of purchased oil and gas
Disaggregation of Revenue [Line Items]
Revenue - Service revenue	$ 935	$ 1,171	$ 2,391	$ 3,463

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Accounts receivable balance representing amounts due or billable	$ 602	$ 968

Interest and Other Income (Lo_3

Interest and Other Income (Loss), Net (Components of Interest and Other Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest and Other Income [Abstract]
Interest income	$ 0	$ 3	$ 3	$ 15
Deferred compensation plan income	6	4	3	10
Seismic data sales	0	5	2	5
Severance and sales tax refunds	0	6	0	6
Contingent consideration fair value adjustment (Note 3 and Note 4)	22	(48)	(42)	(61)
Investment in affiliate fair value adjustment (Note 4)	18	193	119	22
Other	3	1	8	5
Interest and other income (loss), net	$ 13	$ (222)	$ (145)	$ (42)

Other Expense (Schedule of Comp

Other Expense (Schedule of Components of Other Expense) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
	May 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
South Texas deficiency fee obligation		$ 0	$ 0		$ 69	$ 0
Idle drilling and well service equipment expense		16	5		69	18
Loss on early extinguishment of debt	$ 23	0	0		27	0
Transportation commitment charges		4	5		12	70
Legal and environmental charges		2	4		7	12
Restructuring charges		74	1		75	159
Asset impairment		0	4		1	34
Accelerated depreciation		0	0		0	23
Vertical integration services (income) loss, net		(2)	1		(1)	19
Asset divestiture-related charges (Note 3)		0	4		0	28
Other		4	8		14	27
Other expense		98	32		273	390
Gross revenues		11	25		36	89
Gross costs and expenses		$ 9	$ 26		35	108
Employee severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges					72	$ 133
Sand mine
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation				$ 12	$ 23

Income Taxes (Schedule of Incom

Income Taxes (Schedule of Income Tax Provision and Effective Tax Rate) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Deferred tax benefit (provision)	$ (3)	$ (72)	$ 8	$ (127)
Effective tax rate	(26.00%)	24.00%	10.00%	24.00%
Current Income Tax Expense (Benefit)	$ (1)	$ 0	$ 10	$ 0

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 39	$ 39

Income Taxes (Schedule of Unrec

Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) $ in Millions	Sep. 30, 2020USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning Balance	$ 39

Net Income Per Share (Reconcili

Net Income Per Share (Reconciliation of Earnings Attributable to Common Stockholders, Basic and Diluted) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income (loss) attributable to common stockholders	$ (20)	$ 231	$ (170)	$ 412
Participating share-based earnings	0	(1)	0	(2)
Basic and diluted net income (loss) attributable to common stockholders	$ (20)	$ 230	$ (170)	$ 410
Basic and diluted weighted average shares outstanding	165	167	165	168

Net Income Per Share (Narrative

Net Income Per Share (Narrative) (Details) - Common stock repurchase program - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 13, 2018
Equity, Class of Treasury Stock [Line Items]
Authorized amount					$ 2,000,000,000
Remaining authorized amount	$ 1,100,000,000		$ 1,100,000,000
Purchases of treasury stock (shares)	0	200,000,000	160,000,000	600,000,000
Stock Repurchased During Period, Shares	0	1,594,447	1,511,930	4,368,290

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent event shares in Millions, $ in Millions	Oct. 19, 2020USD ($)directorshares	Oct. 31, 2020USD ($)
Subsequent Event [Line Items]
Total transaction value		$ 7,600
Number of shares issued (shares) | shares	52
Number of directors | director	13
Ownership retained by parent	76.00%
Ownership retained by Parsley	24.00%
Parsley
Subsequent Event [Line Items]
Number of directors | director	2
Parsley
Subsequent Event [Line Items]
Fixed exchange ratio	0.1252
Termination fee	$ 270
Recovery of Direct Costs	90
Parsley | Parsley
Subsequent Event [Line Items]
Termination fee	135
Recovery of Direct Costs	$ 45