Pioneer Natural Resources (PXD) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		233,308,884
Entity Central Index Key	0001038357
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 98	$ 1,032
Accounts receivable, net	1,850	1,853
Inventories	496	424
Investment in affiliate	176	172
Prepaids and other	165	245
Total current assets	2,785	3,726
Oil and gas properties, using the successful efforts method of accounting:
Proved properties	42,163	38,465
Unproved properties	5,861	6,008
Accumulated depletion, depreciation and amortization	(16,876)	(14,843)
Total oil and gas properties, net	31,148	29,630
Other property and equipment, net	1,639	1,658
Operating lease right-of-use assets	376	340
Goodwill	242	243
Other assets	170	143
Total assets	36,360	35,740
Accounts payable:
Trade	2,577	2,487
Due to affiliates	93	150
Interest payable	16	33
Income taxes payable	43	63
Current portion of debt	44	779
Derivatives	158	44
Operating leases	156	125
Other	196	206
Total current liabilities	3,283	3,887
Long-term debt	4,880	4,125
Derivatives	152	96
Deferred income taxes	4,231	3,867
Operating leases	245	236
Other liabilities	850	988
Equity:
Common shares, $.01 par value; 500,000,000 shares authorized; 245,080,115 and 244,703,342 shares issued as of September 30, 2023 and December 31, 2022, respectively	2	2
Additional paid-in capital	18,506	18,779
Treasury shares, at cost; 11,771,231 and 8,667,824 shares as of September 30, 2023 and December 31, 2022, respectively	(2,572)	(1,925)
Retained earnings	6,783	5,685
Total equity	22,719	22,541
Commitments and contingencies
Total Liabilities and Stockholders' Equity	$ 36,360	$ 35,740

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	245,080,115	244,703,342
Treasury stock, shares (in shares)	11,771,231	8,667,824

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues and other income:
Revenue	$ 5,141	$ 6,057	$ 14,298	$ 19,210
Interest and other income (loss), net	52	(12)	59	57
Derivative gain (loss), net	(190)	13	(235)	(187)
Gain on disposition of assets, net	1	35	23	105
Revenues	5,004	6,093	14,145	19,185
Costs and expenses:
Production and ad valorem taxes	205	260	598	755
Depletion, depreciation and amortization	728	641	2,087	1,874
Exploration and abandonments	18	8	56	32
General and administrative	87	90	259	252
Accretion of discount on asset retirement obligations	4	4	12	12
Interest	44	30	114	100
Other	25	36	93	118
Total costs and expenses	3,337	3,599	9,514	11,102
Income before income taxes	1,667	2,494	4,631	8,083
Income tax provision	(366)	(510)	(1,006)	(1,719)
Net income attributable to common shareholders	$ 1,301	$ 1,984	$ 3,625	$ 6,364
Net income per share attributable to common shareholders:
Basic (usd per share)	$ 5.56	$ 8.29	$ 15.47	$ 26.36
Diluted (usd per share)	$ 5.41	$ 7.93	$ 14.96	$ 25.11
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	233	239	234	241
Diluted weighted average shares outstanding (in shares)	240	250	242	253
Dividends declared (usd per share)	$ 1.84	$ 8.57	$ 10.76	$ 19.73
Oil and gas
Revenues and other income:
Revenue	$ 3,460	$ 4,224	$ 9,603	$ 12,794
Costs and expenses:
Costs and expenses	564	562	1,506	1,457
Sales of purchased commodities
Revenues and other income:
Revenue	1,681	1,833	4,695	6,416
Costs and expenses:
Costs and expenses	$ 1,662	$ 1,968	$ 4,789	$ 6,502

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Shares	Additional Paid-in Capital	Treasury Shares	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2021		242,778
Beginning balance at Dec. 31, 2021	$ 22,837	$ 2	$ 19,123	$ (248)	$ 3,960
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(922)				(922)
Conversion premium
Exercise of stock options and employee stock purchases (in shares)		6
Exercise of stock options and employee share purchases	1			1
Purchases of treasury stock (in shares)		(1,175)
Purchases of treasury shares	(276)			(276)
Share-based compensation:
Vested compensation awards, net or issued awards (in shares)		350
Vested compensation awards, net	0
Compensation costs included in net income	19		19
Net income	2,009				2,009
Ending balance (in shares) at Mar. 31, 2022		241,959
Ending balance at Mar. 31, 2022	23,668	$ 2	19,142	(523)	5,047
Beginning balance (in shares) at Dec. 31, 2021		242,778
Beginning balance at Dec. 31, 2021	22,837	$ 2	19,123	(248)	3,960
Share-based compensation:
Net income	6,364
Ending balance (in shares) at Sep. 30, 2022		237,736
Ending balance at Sep. 30, 2022	22,949	$ 2	18,911	(1,525)	5,561
Beginning balance (in shares) at Mar. 31, 2022		241,959
Beginning balance at Mar. 31, 2022	23,668	$ 2	19,142	(523)	5,047
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(1,788)				(1,788)
Conversion premium
Conversion premium	(2)		(2)
Capped call proceeds	26		26
Issuance fees and deferred taxes	(6)		(6)
Purchases of treasury stock (in shares)		(2,126)
Purchases of treasury shares	(499)			(499)
Share-based compensation:
Vested compensation awards, net or issued awards (in shares)		5
Vested compensation awards, net	0
Compensation costs included in net income	20		20
Net income	2,371				2,371
Ending balance (in shares) at Jun. 30, 2022		239,838
Ending balance at Jun. 30, 2022	23,790	$ 2	19,180	(1,022)	5,630
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(2,053)				(2,053)
Conversion premium
Conversion premium	(319)		(319)
Capped call proceeds	45		45
Issuance fees and deferred taxes	(13)		(13)
Employee stock purchases (in shares)		41
Employee stock purchases	6		(2)	8
Purchases of treasury stock (in shares)		(2,338)
Purchases of treasury shares	(511)			(511)
Share-based compensation:
Vested compensation awards, net or issued awards (in shares)		195
Vested compensation awards, net	0
Compensation costs included in net income	20		20
Net income	1,984				1,984
Ending balance (in shares) at Sep. 30, 2022		237,736
Ending balance at Sep. 30, 2022	22,949	$ 2	18,911	(1,525)	5,561
Beginning balance (in shares) at Dec. 31, 2022		236,036
Beginning balance at Dec. 31, 2022	22,541	$ 2	18,779	(1,925)	5,685
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(1,314)				(1,314)
Conversion premium
Conversion premium	(138)		(138)
Capped call proceeds	31		31
Issuance fees and deferred taxes	(7)		(7)
Purchases of treasury stock (in shares)		(2,499)
Purchases of treasury shares	(520)			(520)
Share-based compensation:
Vested compensation awards, net or issued awards (in shares)		199
Vested compensation awards, net	0
Compensation costs included in net income	23		23
Net income	1,222				1,222
Ending balance (in shares) at Mar. 31, 2023		233,736
Ending balance at Mar. 31, 2023	21,838	$ 2	18,688	(2,445)	5,593
Beginning balance (in shares) at Dec. 31, 2022		236,036
Beginning balance at Dec. 31, 2022	22,541	$ 2	18,779	(1,925)	5,685
Share-based compensation:
Net income	3,625
Ending balance (in shares) at Sep. 30, 2023		233,309
Ending balance at Sep. 30, 2023	22,719	$ 2	18,506	(2,572)	6,783
Beginning balance (in shares) at Mar. 31, 2023		233,736
Beginning balance at Mar. 31, 2023	21,838	$ 2	18,688	(2,445)	5,593
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(784)				(784)
Conversion premium
Conversion premium	(77)		(77)
Capped call proceeds	27		27
Issuance fees and deferred taxes	(7)		(7)
Purchases of treasury stock (in shares)		(602)
Purchases of treasury shares	(126)			(126)
Share-based compensation:
Vested compensation awards, net or issued awards (in shares)		6
Vested compensation awards, net	0
Compensation costs included in net income	27		27
Net income	1,102				1,102
Ending balance (in shares) at Jun. 30, 2023		233,140
Ending balance at Jun. 30, 2023	22,000	$ 2	18,658	(2,571)	5,911
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(429)				(429)
Conversion premium
Conversion premium	(207)		(207)
Capped call proceeds	46		46
Issuance fees and deferred taxes	(10)		(10)
Employee stock purchases (in shares)		39
Employee stock purchases	8		(1)	9
Purchases of treasury stock (in shares)		(42)
Purchases of treasury shares	(10)			(10)
Share-based compensation:
Vested compensation awards, net or issued awards (in shares)		172
Vested compensation awards, net	0
Compensation costs included in net income	20		20
Net income	1,301				1,301
Ending balance (in shares) at Sep. 30, 2023		233,309
Ending balance at Sep. 30, 2023	$ 22,719	$ 2	$ 18,506	$ (2,572)	$ 6,783

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (usd per share)	$ 1.84	$ 3.34	$ 5.58	$ 8.57	$ 7.38	$ 3.78	$ 10.76	$ 19.73

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 3,625	$ 6,364
Adjustments to reconcile net income to net cash provided by operating activities:
Depletion, depreciation and amortization	2,087	1,874
Exploration expenses	1	6
Deferred income taxes	341	1,248
Gain on disposition of assets, net	(23)	(105)
Loss on early extinguishments of debt	0	47
Accretion of discount on asset retirement obligations	12	12
Interest expense	8	7
Derivative-related activity	169	(95)
Amortization of share-based compensation	70	59
Investment valuation adjustments	(4)	(17)
Other	112	69
Changes in operating assets and liabilities:
Accounts receivable	1	(253)
Inventories	(73)	(55)
Other assets	5	(96)
Accounts payable	(126)	(260)
Interest payable	(17)	(32)
Income taxes payable	(20)	0
Other liabilities	(69)	(23)
Net cash provided by operating activities	6,099	8,750
Cash flows from investing activities:
Proceeds from disposition of assets	24	293
Proceeds from short-term investments	0	727
Purchases of short-term investments, net	0	(1,020)
Additions to oil and gas properties	(3,436)	(2,806)
Additions to other assets and other property and equipment	(121)	(105)
Net cash used in investing activities	(3,533)	(2,911)
Cash flows from financing activities:
Proceeds from issuance of debt, net of discount	2,589	0
Repayment of debt	(2,994)	(2,097)
Proceeds from capped call on convertible notes	104	71
Payments of other liabilities	(13)	(183)
Payments of financing fees	(7)	0
Purchases of treasury shares	(656)	(1,286)
Exercise of long-term incentive plan stock options and employee stock purchases	8	7
Dividends paid	(2,531)	(4,913)
Net cash used in financing activities	(3,500)	(8,401)
Net decrease in cash, cash equivalents and restricted cash	(934)	(2,562)
Cash, cash equivalents and restricted cash, beginning of period	1,032	3,884
Cash, cash equivalents and restricted cash, end of period	$ 98	$ 1,322

Organization and Nature Of Oper

Organization and Nature Of Operations	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations Pioneer is a Delaware corporation whose common shares are listed and traded on the NYSE. The Company is a large independent oil and gas exploration and production company that explores for, develops and produces oil, NGLs and gas in the Midland Basin in West Texas. Planned merger of the Company with Exxon Mobil Corporation . On October 10, 2023, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Exxon Mobil Corporation, a New Jersey corporation ("ExxonMobil"), and a subsidiary of ExxonMobil, pursuant to which, and subject to the terms and conditions thereof, the Company will survive as a wholly-owned subsidiary of ExxonMobil (the "Merger"). Under the terms of the Merger Agreement, each eligible share of the Company's common stock will be converted into the right to receive 2.3234 shares of ExxonMobil common stock (the "Exchange Ratio"). Completion of the Merger remains subject to certain conditions, including the approval of the Merger by the Company's stockholders, as well as certain governmental and regulatory approvals. The Merger is currently expected to close in the first half of 2024; however, no assurance can be given as to when, or if, the Merger will occur. The Merger Agreement contains termination rights, subject to certain conditions, for each of the Company and ExxonMobil, including, among others: (i) if the consummation of the Merger does not occur on or before October 10, 2024 (the "End Date") or the extended End Date (April 10, 2025) and (ii) if the Company wishes to terminate the Merger Agreement to enter into a definitive agreement with respect to a superior proposal. Upon termination of the Merger Agreement by ExxonMobil under certain specified circumstances, including, among others, a material breach by the Company of its non-solicitation obligations or by the Company in order to enter into a definitive agreement with respect to a superior proposal, the Company would be required to pay ExxonMobil a termination fee of $1.8 billion. The above description of the Merger Agreement and the transactions contemplated thereby, including certain referenced terms, is a summary of certain principal terms and conditions contained in the Merger Agreement.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
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, 2023 and for the three and nine months ended September 30, 2023 and 2022 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 GAAP. The operating results for the three and nine months ended September 30, 2023 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 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, 2022. Use of estimates in the preparation of financial statements. Preparation of the Company's 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 at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from the estimates and assumptions utilized.

Divestitures and Nonmonetary Tr

Divestitures and Nonmonetary Transactions	9 Months Ended
	Sep. 30, 2023
Business Combinations [Abstract]
Divestitures and Nonmonetary Transactions	Divestitures and Nonmonetary Transactions Divestitures. The Company regularly reviews its asset base to identify nonstrategic assets, the disposition of which would increase capital resources available for other activities, create organizational and operational efficiencies and further the Company's objective of maintaining a strong balance sheet to ensure financial flexibility. • The Company had no material asset divestitures during the three and nine months ended September 30, 2023. • During the three and nine months ended September 30, 2022, the Company divested certain undeveloped acreage and producing wells in the Midland Basin for cash proceeds of $39 million and $165 million, respectively. The Company recorded a gain on these sales of $34 million and $110 million for the three and nine months ended September 30, 2022, respectively, which is reflected in net gain on disposition of assets in the consolidated statements of operations. • In February 2022, the Company completed the sale of its equity interest in certain gas gathering and processing systems in northern Martin County for cash proceeds of $125 million (the "Martin County Gas Processing Divestiture"). The sale was treated as a recovery of investment from a partial sale of proved property resulting in no gain or loss being recognized. Nonmonetary transactions. During the nine months ended September 30, 2023, the Company's nonmonetary transactions included exchanges of both proved and unproved oil and gas properties in the Midland Basin with unaffiliated third parties. Certain of these transactions were determined to have commercial substance, which led to those transactions being accounted for at fair value, and resulted in the Company recording a gain of $20 million to net gain on disposition of assets in the consolidated statements of operations and $154 million of noncash investing activities for the nine months ended September 30, 2023. Nonmonetary transactions that did not have commercial substance were recorded at carryover basis.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
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. As of September 30, 2023 Fair Value Measurements Quoted Prices in Significant Other Significant Total (in millions) Assets: Investment in affiliate $ 176 $ — $ — $ 176 Deferred compensation plan assets 62 — — 62 Conversion option derivatives — 2 — 2 $ 238 $ 2 $ — $ 240 Liabilities: Marketing derivatives $ — $ — $ 310 $ 310 As of December 31, 2022 Fair Value Measurements Quoted Prices in Significant Other Significant Total (in millions) Assets: Investment in affiliate $ 172 $ — $ — $ 172 Deferred compensation plan assets 65 — — 65 Conversion option derivatives — 1 — 1 $ 237 $ 1 $ — $ 238 Liabilities: Marketing derivatives $ — $ — $ 140 $ 140 Gains and losses recorded in the consolidated statements of operations related to assets and liabilities measured at fair value on a recurring basis are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Investment in affiliate valuation adjustment $ 40 $ (32) $ 4 $ (1) Deferred compensation plan asset valuation adjustment $ 3 $ (2) $ 2 $ (13) Derivative gain (loss), net: Marketing derivatives: Noncash derivative gain (loss), net $ (155) $ 99 $ (170) $ 75 Cash payments on settled derivatives (21) (18) (52) (47) Total marketing derivative gain (loss), net (176) 81 (222) 28 Conversion option derivatives: Noncash derivative gain (loss), net 4 (23) 1 — Cash receipts (payments) on settled derivatives, net (18) 17 (14) 17 Total conversion option derivative gain (loss), net (14) (6) (13) 17 Commodity derivatives: Noncash derivative gain, net — 59 — 20 Cash payments on settled derivatives, net — (121) — (252) Total commodity derivative loss, net — (62) — (232) $ (190) $ 13 $ (235) $ (187) 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 the Company's investment in ProPetro common shares is determined using Level 1 inputs based on observable prices on a major exchange and changes in fair value are recorded in net interest and other income (loss) in the consolidated statements of operations. See Note 10 for additional information. 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 and changes in fair value are recorded in net interest and other income (loss) in the consolidated statements of operations. Conversion option derivatives. In May 2020, the Company issued $1.3 billion principal amount of convertible senior notes due 2025 (the "Convertible Notes"). Certain holders of the Convertible Notes have exercised their conversion options per the terms of the notes' indenture. The Company elected to settle the conversions in cash, with settlement occurring 25 trading days from the notice of conversion (the "Settlement Period"). The Company's election to settle an exercised conversion option in cash results in a forward contract during the Settlement Period that is accounted for as a derivative instrument not designated as a hedge. The change in fair value of the conversion option derivatives during the Settlement Period is primarily determined based on Level 2 inputs related to the daily volumetric weighted average prices of the Company's common shares during the Settlement Period. See Note 6 for additional information. Marketing derivatives. The Company uses marketing derivatives to diversify its oil pricing to Gulf Coast and international markets. The Company's marketing derivatives reflect long-term marketing contracts with Occidental Energy Marketing, Inc. whereby the Company agreed to purchase and simultaneously sell, at an oil terminal in Midland, Texas, (i) 50 thousand barrels of oil per day beginning January 1, 2021 and ending December 31, 2026, (ii) 40 thousand barrels of oil per day beginning May 1, 2022 and ending April 30, 2027 and (iii) 30 thousand barrels of oil per day beginning August 1, 2022 and ending July 31, 2027. The price the Company pays to purchase the oil volumes under the purchase contract is based on a Midland oil price and the price the Company receives for the oil volumes sold is the WASP that the non-affiliated counterparty receives for selling oil through a Gulf Coast storage and export facility at prices that are highly correlated with Brent oil prices during the same month of the purchase. Based on the form of the long-term marketing contracts, the Company accounts for the contracts as derivative instruments not designated as hedges. The asset and liability measurements for the long-term marketing contracts are determined using both Level 2 and 3 inputs. The Company utilizes a discounted cash flow model for valuing the marketing derivatives. The values attributable to the Company's marketing derivatives that are determined based on Level 2 inputs 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) stated contractual rates. The Level 3 inputs attributable to the Company's marketing derivatives include the historical monthly differential between Brent oil prices and the corresponding WASP of the counterparty to the marketing derivatives ("WASP Differential Deduction") and, to a lesser extent, an estimated annual cost inflation rate. The average WASP Differential Deduction used in the fair value determination as of September 30, 2023 and December 31, 2022 was $1.81 per barrel and $1.67 per barrel, respectively. The WASP Differential Deduction and the estimated annual cost inflation rate reflects management's best estimate of future results utilizing historical performance, but these estimates are not observable inputs by a market participant and contain a high degree of uncertainty. The Company experiences mark-to-market fluctuations in the fair value of its marketing derivatives based on changes in the WASP Differential Deduction if it deviates from historical levels. For example, a 10 percent increase or decrease in the WASP Differential Deduction would impact the fair value of the Company's marketing derivatives recorded by approximately $25 million as of September 30, 2023. Derivative financial instruments are presented in the Company's consolidated balance sheets as follows: As of September 30, 2023 Type Consolidated Fair Gross Amounts Net Fair Value (in millions) Assets: Conversion option derivatives Prepaids and other $ 2 $ — $ 2 Liabilities: Marketing derivatives Derivatives - current $ 158 $ — $ 158 Marketing derivatives Derivatives - noncurrent $ 152 $ — $ 152 As of December 31, 2022 Type Consolidated Fair Gross Amounts Net Fair Value (in millions) Assets: Conversion option derivatives Prepaids and other $ 1 $ — $ 1 Liabilities: Marketing derivatives Derivatives - current $ 44 $ — $ 44 Marketing derivatives Derivatives - noncurrent $ 96 $ — $ 96 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 inventories, proved and unproved oil and gas properties, assets acquired and liabilities assumed in business combinations or through nonmonetary transactions, goodwill, asset retirement obligations and other long-lived assets. Nonmonetary transactions . Oil and gas property nonmonetary transactions that have commercial substance are valued as of the transaction date based on income and market based approaches utilizing Level 3 inputs, including internally generated development and production profiles and price and cost assumptions. During the nine months ended September 30, 2023, the Company recorded a gain of $20 million to net gain on disposition of assets in the consolidated statements of operations associated with nonmonetary transactions. See Note 3 for additional information. Other long-lived assets. The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such assets are considered to be impaired, the impairment charge is measured as the amount by which the carrying amount of the asset exceeds its estimated fair value determined using either a discounted future cash flow model or another appropriate fair value method. As a result of the Company's impairment assessments of other long-lived assets during the nine months ended September 30, 2023, the Company recorded $22 million of noncash impairment charges to other expense in the consolidated statements of operations. See Note 12 for additional information. Financial instruments not carried at fair value. As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair (in millions) Assets: Cash and cash equivalents (a) $ 98 $ 98 $ 1,032 $ 1,032 Liabilities: Current portion of debt: Convertible senior notes (b) $ 44 $ 109 $ 29 $ 69 Senior notes (b) $ — $ — $ 750 $ 738 Long-term debt: Convertible senior notes (b) $ 582 $ 1,437 $ 925 $ 2,184 Senior notes (b) $ 4,298 $ 3,792 $ 3,200 $ 2,696 ______________________ (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 6 for additional information.

Exploratory Well and Project Co

Exploratory Well and Project Costs	9 Months Ended
	Sep. 30, 2023
Extractive Industries [Abstract]
Exploratory Well and Project Costs	Exploratory Well and Project Costs The 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 recorded in exploration and abandonments expense in the consolidated statements of operations. The changes in capitalized exploratory well and project costs are as follows: Nine Months Ended September 30, 2023 (in millions) Beginning capitalized exploratory well and project costs $ 834 Additions to exploratory well and project costs pending the determination of proved reserves 3,047 Reclassifications due to determination of proved reserves (2,678) Ending capitalized exploratory well and project costs $ 1,203 Aging of capitalized exploratory costs and the number of projects for which exploratory well costs have been capitalized based on the date drilling was completed, are as follows: As of September 30, 2023 As of December 31, 2022 (in millions, except project counts) One year or less $ 1,203 $ 834 More than one year — — $ 1,203 $ 834 Number of projects with exploratory well costs that have been suspended for a period greater than one year — —

Debt and Interest Expense

Debt and Interest Expense	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt and Interest Expense	Debt and Interest Expense The components of debt, including the effects of issuance costs and net discounts, are as follows: As of September 30, 2023 As of December 31, 2022 (in millions) Outstanding debt principal balances: 0.550% senior notes due 2023 $ — $ 750 0.250% convertible senior notes due 2025 629 962 5.100% senior notes due 2026 1,100 — 1.125% senior notes due 2026 750 750 7.200% senior notes due 2028 241 241 4.125% senior notes due 2028 138 138 1.900% senior notes due 2030 1,100 1,100 2.150% senior notes due 2031 1,000 1,000 4,958 4,941 Issuance costs and discounts, net (34) (37) Total debt 4,924 4,904 Less current portion of debt 44 779 Long-term debt $ 4,880 $ 4,125 Credit facility. The Company maintains a revolving corporate credit facility (the "Credit Facility") with a syndicate of financial institutions and has aggregate loan commitments of $2.0 billion. On May 26, 2023, Pioneer entered into the Second Amendment to Credit Agreement (the "Second Amendment") with Wells Fargo Bank, National Association, as administrative agent, and the other agents and lenders party thereto. The Second Amendment replaced the London interbank offered rate with a term secured overnight financing rate as the interest rate benchmark, with all other terms, conditions and covenants remaining substantially unchanged. The Credit Facility has a maturity date of January 12, 2026. As of September 30, 2023, the Company had no outstanding borrowings under the Credit Facility. The Credit Facility requires the maintenance of a ratio of total debt to book capitalization, subject to certain adjustments, not to exceed 0.65 to 1.0. As of September 30, 2023, the Company was in compliance with its debt covenants. Senior notes. In March 2023, the Company issued $1.1 billion of 5.100% senior notes that will mature March 29, 2026 (the "March 2023 Senior Notes Offering"). The Company received proceeds, net of $7 million of issuance costs and discounts, of $1.1 billion. Interest on the notes is payable semiannually on March 29 and September 29. The Company's 0.550% senior notes, with a debt principal balance of $750 million, matured and were repaid in May 2023 with proceeds from the March 2023 Senior Notes Offering. The Company's senior notes are general unsecured obligations ranking equally in right of payment with all other senior unsecured indebtedness of the Company and are senior in right of payment to all existing and future subordinated indebtedness of the Company. The Company is a holding company that conducts all of its operations through subsidiaries; consequently, the senior notes are structurally subordinated to all obligations of its subsidiaries. Interest on the Company's senior notes is payable semiannually. Convertible senior notes. The Convertible Notes bear a fixed interest rate of 0.250% per year, with interest payable semiannually on May 15 and November 15. The Convertible Notes will mature on May 15, 2025, unless earlier redeemed, repurchased or converted. The Convertible Notes are unsecured obligations ranking equally in right of payment with all other senior unsecured indebtedness of the Company. As of September 30, 2023, the Convertible Notes are convertible at an adjusted conversion rate of 10.7379 shares of the Company's common shares per $1,000 principal amount of the Convertible Notes (subject to further adjustment pursuant to the terms of the notes indenture, the "Conversion Rate"), which represents an adjusted conversion price of $93.13 per share (subject to adjustment pursuant to the terms of the notes indenture, the "Conversion Price"). Upon conversion, the Convertible Notes will be settled in cash, the Company's common shares or a combination thereof, at the Company's election. Holders of the Convertible Notes may convert their notes at their option prior to February 15, 2025 under the following circumstances: • during the quarter following any quarter during which the last reported sales price of the Company's common shares for at least 20 of the last 30 consecutive trading days of such quarter exceeds 130 percent of the Conversion Price; • during the five-business day period following any five consecutive trading day period when the trading price of the Convertible Notes is less than 98 percent of the product of the last reported sales price of the Company's common shares and the Conversion Rate; • upon notice of redemption by the Company; or • upon the occurrence of specified corporate events, including certain consolidations or mergers. On or after February 15, 2025, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their notes at any time. Currently, the Company may redeem the Convertible Notes only if the last reported sale price of the Company's common shares has been at least 130 percent of the Conversion Price for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides the notice of redemption. The redemption price is equal to 100 percent of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest. In connection with the issuance of the Convertible Notes, the Company entered into privately negotiated capped call transactions with certain financial institution counterparties (the "Capped Call"), the purpose of which was to reduce the potential dilution to the Company's common shares upon conversion of the Convertible Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of such converted notes, with such reduction and offset subject to a capped price. As of September 30, 2023, the Capped Call transactions have an adjusted strike price of $93.13 per share of common shares and an adjusted capped price of $132.53 per share of common shares. As of September 30, 2023, the effective annual interest rate on the Convertible Notes is 0.6 percent after giving effect to deferred financing fees relating to the notes. Convertible Note conversions. During the last 30 consecutive trading days subsequent to the third quarter of 2021 through the third quarter of 2023, the last reported sales price of the Company's common shares exceeded 130 percent of the Conversion Price for at least 20 trading days, causing the Convertible Notes to be convertible at the option of the holders during the period from January 1, 2022 through December 31, 2023. Certain holders of the Convertible Notes exercised their conversion option resulting in the Company recognizing the following cash payments and cash receipts associated with the conversions: Nine Months Ended September 30, 2023 2022 (in millions) Cash payments: Principal repayments $ 333 $ 240 Conversion premiums 422 321 Conversion option derivative payments, net 14 — Cash payments, net $ 769 $ 561 Cash receipts: Capped Call proceeds $ 104 $ 71 Conversion option derivative receipts, net — 17 Cash receipts, net $ 104 $ 88 The Company recorded the conversion premiums paid, Capped Call proceeds and associated issuance fees and deferred taxes attributable to the principal amount of the Convertible Notes converted in additional paid-in-capital. As of September 30, 2023 and December 31, 2022, $44 million and $29 million, respectively, of the principal amount of the Convertible Notes remained in the Settlement Period and are recorded in the current portion of debt in the consolidated balance sheets for each respective period. The current portion of Convertible Notes as of September 30, 2023 will be cash settled at the end of their respective Settlement Periods during the fourth quarter of 2023. See Note 4 for additional information.

Incentive Plans

Incentive Plans	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Incentive Plans	Incentive Plans Long-Term Incentive Plan. The Company's Amended and Restated 2006 Long-Term Incentive Plan ("LTIP") provides for the granting of various forms of awards, including stock options, stock appreciation rights, performance units, restricted shares and restricted stock units to directors, officers and employees of the Company. Share-based compensation expense for (i) restricted stock awards and units expected to be settled in the Company's common shares ("Equity Awards"), (ii) restricted stock units expected to be settled in cash ("Liability Awards"), (iii) performance units ("Performance Awards") issued under the LTIP and (iv) shares issued under the Company's Employee Stock Purchase Plan ("ESPP") are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Equity Awards (a) $ 13 $ 11 $ 42 $ 33 Liability Awards (b) 5 6 11 17 Performance Awards (a) 6 8 25 24 ESPP 1 1 3 2 $ 25 $ 26 $ 81 $ 76 Capitalized share-based compensation expense $ 5 $ 5 $ 14 $ 14 ______________________ (a) In February 2023, the Company changed the retirement eligibility provisions for 2023 share-based compensation awards issued to officers, which shortened the requisite service period over which the expense is recognized. (b) Liability Awards are expected to be settled on their vesting date in cash. As of September 30, 2023 and December 31, 2022, accounts payable – due to affiliates included $2 million and $6 million, respectively, of liabilities attributable to Liability Awards. As of September 30, 2023, there was $104 million of unrecognized share-based compensation expense related to unvested share-based compensation awards of which $20 million is attributable to Liability Awards. The unrecognized compensation expense will be recognized on a straight-line basis over the remaining requisite service periods of the awards, which is a period of less than three years on a weighted average basis. Per the change in control terms of award agreements, any Equity Awards, Liability Awards and Performance Awards that are outstanding immediately prior to the completion of a change in control event will become vested. Additionally, in accordance with the Merger Agreement, outstanding Performance Awards vest at their maximum payout percentage, which may impact future share-based compensation expense based upon the fair value of the awards as of the modification date. Activity for Equity Awards, Liability Awards, and Performance Awards is as follows: Nine Months Ended September 30, 2023 Equity Awards Liability Awards Performance Awards (a) Beginning awards 481,293 119,695 268,003 Awards granted 279,615 54,599 83,727 Awards forfeited (10,685) (6,576) (153) Awards vested (b) (250,633) (64,860) (6,183) Ending awards 499,590 102,858 345,394 ______________________ (a) Reflects the number of performance units initially granted assuming a target payout percentage. In accordance with the Merger Agreement, outstanding Performance Awards are expected to vest at their maximum payout percentage. (b) Per the terms of award agreements and elections, the issuance of common shares may be deferred for certain Equity Awards that vest during the period.

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2023
Asset Retirement Obligation [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The Company's asset retirement obligations primarily relate to the future plugging and abandonment of wells and related facilities. Market risk premiums associated with asset retirement obligations are estimated to represent a component of the Company's credit-adjusted risk-free rate that is utilized in the calculations of asset retirement obligations. The Company includes the current and noncurrent portions of asset retirement obligations in other current liabilities and other liabilities, respectively, in the consolidated balance sheets and expenditures are included as cash used in operating activities in the consolidated statements of cash flows. Asset retirement obligations activity is as follows: Nine Months Ended September 30, 2023 (in millions) Beginning asset retirement obligations $ 477 Additions 4 Changes in estimates (52) Liabilities settled (50) Accretion of discount 12 Ending asset retirement obligations 391 Less current portion of asset retirement obligations (107) Asset retirement obligations, long-term $ 284 The Company's wells and related facilities abandonment costs generally approximate their estimated asset retirement obligations. Incremental plugging and abandonment costs for individual wells and related facilities that exceed their estimated asset retirement obligation are recorded in exploration and abandonment expense in the consolidated statements of operations.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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. Legal actions. The Company is 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. Significant judgement is required in making these estimates and the Company's final liabilities may ultimately be materially different. 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 remediation occurs. 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, royalties and income taxes. The Company may also be subject to retained liabilities with respect to certain divested assets by operation of law. Upon divesting its assets, the Company may receive collateral or credit support for its exposure to such liabilities. The Company establishes reserves for the amount that exceeds the collateral or credit support received in the event that the obligation becomes likely to be paid by the Company. For example, the Company is exposed to the risk that owners and/or operators of assets purchased from the Company may become unable to satisfy plugging or abandonment obligations associated with those assets. In that event, due to operation of law, the Company may be required to assume all or part of the plugging or abandonment obligations for those assets. Although the Company may establish reserves for such liabilities, it could be required to pay additional amounts in the future and these amounts could be material. The Company does not recognize a liability if the fair value of the obligation is immaterial or the likelihood of making payments is remote.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
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 shares and $110 million of cash. ProPetro is considered a related party as the shares received represent 15 percent of ProPetro's outstanding common shares. 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 that ended on December 31, 2022. The Company continued to utilize ProPetro for pressure pumping and related services for a portion of 2023, but has ceased the use of such services as of September 30, 2023. Phillip A. Gobe, a nonemployee member of the Company's Board of Directors (the "Board"), was appointed by the board of directors of ProPetro to serve as its Executive Chairman in October 2019 and Chief Executive Officer in March 2020, and served as Chief Executive Officer and Chairman of the board of directors of ProPetro through August 31, 2021, at which point he continued as ProPetro's Executive Chairman. In March 2022, Mr. Gobe transitioned to non-executive Chairman of the board of directors of ProPetro. 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 shares. Based on the Company's ownership in ProPetro and representation on the ProPetro board of directors, ProPetro is considered an affiliate. Charges attributable to ProPetro pressure pumping related services were capitalized in oil and gas properties or charged to other expense as incurred. ProPetro pressure pumping related service charges are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Pressure pumping related service charges $ 19 $ 90 $ 104 $ 298 As of September 30, 2023 As of December 31, 2022 (in millions) Accounts payable - due to affiliates $ 4 $ 44

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition 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 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Oil sales $ 2,823 $ 3,069 $ 7,715 $ 9,594 NGL sales 416 569 1,197 1,783 Gas sales 221 586 691 1,417 Total oil and gas revenues 3,460 4,224 9,603 12,794 Sales of purchased oil 1,677 1,805 4,688 6,356 Sales of purchased gas 4 28 7 60 Total sales of purchased commodities 1,681 1,833 4,695 6,416 $ 5,141 $ 6,057 $ 14,298 $ 19,210 Performance obligations and contract balances. The majority of the Company's product sale commitments are short-term in nature with a contract term of one year or less. The Company typically satisfies its performance obligations upon transfer of control as described above in Disaggregated revenue from contracts with purchasers and records the related revenue in the month production is delivered to the purchaser. Settlement statements for sales of oil, NGLs, gas and sales of purchased oil and gas may not be received for 30 to 60 days after the date the volumes are delivered, and as a result, the Company is required to estimate the amount of volumes delivered to the purchaser and the price that will be received for the sale of the product. The Company records the differences between estimates and the actual amounts received for product sales in the month that payment is received from the purchaser. As of September 30, 2023 and December 31, 2022, the accounts receivable balance representing amounts due or billable under the terms of contracts with purchasers was $1.7 billion and $1.8 billion, respectively.

Other Expense

Other Expense	9 Months Ended
	Sep. 30, 2023
Other Income and Expenses [Abstract]
Other Expense	Other Expense The components of other expense are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Unoccupied facilities expense (a) $ 8 $ 8 $ 25 $ 27 Impairment of long-lived assets (b) ( Note 4 ) — — 22 — Idle equipment charges (c) 1 5 3 19 Loss on early extinguishment of debt — — — 47 South Texas deficiency fee obligation, net (d) — (1) — (18) Other 16 24 43 43 $ 25 $ 36 $ 93 $ 118 ____________________ (a) Primarily represents facilities expense associated with certain offices acquired as part of business combinations that are no longer occupied by the Company. (b) Impairment of long-lived assets represents the decrease in fair value of unoccupied field offices to their expected sales price or market value. (c) Primarily represents idle field equipment and stacked drilling rig charges for the three and nine months ended September 30, 2023 and idle frac equipment fees and frac reservation fees for the three and nine months ended September 30, 2022. (d) Represents changes to the Company's 2022 forecasted minimum volume commitment deficiency fee obligation and receivable associated with the Company's 2019 sale of its Eagle Ford assets and other remaining assets in South Texas.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Enactment of the Inflation Reduction Act of 2022. On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the "IRA"), which includes, among other things, a corporate alternative minimum tax (the "CAMT"). Under the CAMT, a 15 percent minimum tax will be imposed on certain adjusted financial statement income of "applicable corporations" for tax years beginning after December 31, 2022. The CAMT generally treats a corporation as an "applicable corporation" in any taxable year in which the "average annual adjusted financial statement income" of the corporation and certain of its subsidiaries and affiliates for a three-taxable-year period ending prior to such taxable year exceeds $1 billion. The Company will continue to monitor and assess any impacts of the IRA on the Company's current year tax provision and the Company's consolidated financial statements. The IRA also establishes a one percent excise tax on share repurchases made by publicly traded U.S. corporations. The excise tax is effective for any share repurchases after December 31, 2022. During the nine months ended September 30, 2023, the Company recorded $6 million related to the IRA excise tax payable on share repurchases. Income tax provisions and effective tax rates are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions, except tax rates) Current tax provision $ 248 $ 308 $ 665 $ 471 Deferred tax provision 118 202 341 1,248 Income tax provision $ 366 $ 510 $ 1,006 $ 1,719 Effective tax rate 22 % 20 % 22 % 21 % The Company evaluates and updates its annual effective income tax rate on an interim basis based on current and forecasted earnings and enacted 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, 2023 and the three months ended September 30, 2022 differed from the U.S. statutory rate of 21 percent primarily due to forecasted state income taxes. The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. As of September 30, 2023, there are no proposed adjustments in any jurisdiction that would have a material effect on the Company's future results of operations or financial position.

Net Income Per Share and Stockh

Net Income Per Share and Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income Per Share and Stockholders' Equity	Net Income Per Share and Shareholders' Equity Net income per share. The components of basic and diluted net income per share attributable to common shareholders are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions, except per share data) Net income attributable to common shareholders $ 1,301 $ 1,984 $ 3,625 $ 6,364 Participating share-based earnings (a) (3) (4) (5) (11) Basic net income attributable to common shareholders 1,298 1,980 3,620 6,353 Adjustment to after-tax interest expense to reflect the dilutive impact attributable to Convertible Notes 1 1 3 5 Diluted net income attributable to common shareholders $ 1,299 $ 1,981 $ 3,623 $ 6,358 Basic weighted average shares outstanding 233 239 234 241 Convertible Notes (b) 7 11 8 12 Diluted weighted average shares outstanding 240 250 242 253 Net income per share attributable to common shareholders: Basic $ 5.56 $ 8.29 $ 15.47 $ 26.36 Diluted $ 5.41 $ 7.93 $ 14.96 $ 25.11 ______________________ (a) Unvested Equity Awards and Liability Awards represent participating securities because they participate in non-forfeitable dividends with the common equity owners of the Company. Participating share-based earnings represent the distributed and undistributed earnings of the Company attributable to the participating securities. Unvested Equity Awards and Liability Awards do not participate in undistributed net losses as they are not contractually obligated to do so. The dilutive effect of the reallocation of participating share-based earnings to diluted net income attributable to common shareholders was negligible. (b) Diluted weighted average common shares outstanding includes the dilutive effect had the Company's Convertible Notes been converted as of the beginning of the three and nine months ended September 30, 2023 and 2022, respectively. If converted by the holder, the Company may settle in cash, Company's common shares or a combination thereof, at the Company's election. See Note 6 for additional information. Shareholders' equity. The Company's return of capital strategies include payments of base and variable dividends and a share repurchase program. The Board, at its sole discretion, may change its dividend practices and/or the Company's share repurchase program based on the Company's outlook for commodity prices, liquidity, debt levels, capital resources, quarterly operating cash flows or other factors, including terms outlined in the Merger Agreement. Dividends declared by the Board and shares repurchased during the period are presented in the Company's consolidated statements of equity as dividends declared and purchases of treasury shares, respectively. Dividends paid and shares repurchased during the period are presented as cash used in financing activities in the Company's consolidated statements of cash flows. Dividends that are declared and have not been paid, if any, are included in other current liabilities in the consolidated balance sheets. Shares repurchases are included as treasury shares in the consolidated balance sheets. Dividends. Base and variable dividends declared by the Board are as follows: Base Variable Total Total (per share) (per share) (per share) (in millions) 2023: First quarter $ 1.10 $ 4.48 $ 5.58 $ 1,314 Second quarter 1.25 2.09 3.34 784 Third quarter 1.25 0.59 1.84 429 $ 3.60 $ 7.16 $ 10.76 $ 2,527 2022: First quarter $ 0.78 $ 3.00 $ 3.78 $ 922 Second quarter 0.78 6.60 7.38 1,788 Third quarter 1.10 7.47 8.57 2,053 $ 2.66 $ 17.07 $ 19.73 $ 4,763 The Company can provide no assurance that dividends will be authorized or declared in the future or as to the amount of any future dividends. The Merger Agreement provides certain restrictions on future base and variable dividend declarations, including the Company no longer paying a variable dividend after distributing the variable dividend attributable to fourth quarter 2023 results. See Note 15 for additional information. Share repurchase programs . In April 2023, the Board authorized a $4 billion common share repurchase program to replace the $4 billion common share repurchase program authorized in February 2022. As was the case with the previous shares repurchase programs, the Company may repurchase shares in accordance with applicable securities laws or pursuant to a trading plan meeting the requirements of Rule 10b5-1 under the Securities Act of 1934, which would permit the Company to repurchase shares at times that may otherwise be prohibited under the Company's insider trading policy. Expenditures to acquire shares under the share repurchase program are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Shares repurchased (a) $ — $ 500 $ 624 $ 1,249 ______________________ (a) During the three and nine months ended September 30, 2023, the Company repurchased no shares and 3.0 million shares, respectively, under the share repurchase program, as compared to 2.3 million and 5.5 million shares repurchased during the same periods in 2022, respectively. Expenditures for share repurchases during the nine months ended September 30, 2023 exclude the one percent excise tax on all share repurchases after December 31, 2022. With limited exceptions, the Merger Agreement precludes the Company from future repurchases or acquisition of the Company's common shares, including repurchases under the Company's share repurchase program.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Dividends. On November 2, 2023, the Board declared a quarterly base dividend of $1.25 per share and a quarterly variable dividend of $1.95 per share on the Company's outstanding common shares, payable December 22, 2023 to shareholders of record at the close of business on November 30, 2023.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
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, 2023 and for the three and nine months ended September 30, 2023 and 2022 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 GAAP. The operating results for the three and nine months ended September 30, 2023 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 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, 2022.
Use of estimates in the preparation of financial statements	Use of estimates in the preparation of financial statements. Preparation of the Company's 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 at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from the estimates and assumptions utilized.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	As of September 30, 2023 Fair Value Measurements Quoted Prices in Significant Other Significant Total (in millions) Assets: Investment in affiliate $ 176 $ — $ — $ 176 Deferred compensation plan assets 62 — — 62 Conversion option derivatives — 2 — 2 $ 238 $ 2 $ — $ 240 Liabilities: Marketing derivatives $ — $ — $ 310 $ 310 As of December 31, 2022 Fair Value Measurements Quoted Prices in Significant Other Significant Total (in millions) Assets: Investment in affiliate $ 172 $ — $ — $ 172 Deferred compensation plan assets 65 — — 65 Conversion option derivatives — 1 — 1 $ 237 $ 1 $ — $ 238 Liabilities: Marketing derivatives $ — $ — $ 140 $ 140
Schedule of derivative gains and losses recognized on statement of operations	Gains and losses recorded in the consolidated statements of operations related to assets and liabilities measured at fair value on a recurring basis are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Investment in affiliate valuation adjustment $ 40 $ (32) $ 4 $ (1) Deferred compensation plan asset valuation adjustment $ 3 $ (2) $ 2 $ (13) Derivative gain (loss), net: Marketing derivatives: Noncash derivative gain (loss), net $ (155) $ 99 $ (170) $ 75 Cash payments on settled derivatives (21) (18) (52) (47) Total marketing derivative gain (loss), net (176) 81 (222) 28 Conversion option derivatives: Noncash derivative gain (loss), net 4 (23) 1 — Cash receipts (payments) on settled derivatives, net (18) 17 (14) 17 Total conversion option derivative gain (loss), net (14) (6) (13) 17 Commodity derivatives: Noncash derivative gain, net — 59 — 20 Cash payments on settled derivatives, net — (121) — (252) Total commodity derivative loss, net — (62) — (232) $ (190) $ 13 $ (235) $ (187)
Schedule of offsetting asset and liability	Derivative financial instruments are presented in the Company's consolidated balance sheets as follows: As of September 30, 2023 Type Consolidated Fair Gross Amounts Net Fair Value (in millions) Assets: Conversion option derivatives Prepaids and other $ 2 $ — $ 2 Liabilities: Marketing derivatives Derivatives - current $ 158 $ — $ 158 Marketing derivatives Derivatives - noncurrent $ 152 $ — $ 152 As of December 31, 2022 Type Consolidated Fair Gross Amounts Net Fair Value (in millions) Assets: Conversion option derivatives Prepaids and other $ 1 $ — $ 1 Liabilities: Marketing derivatives Derivatives - current $ 44 $ — $ 44 Marketing derivatives Derivatives - noncurrent $ 96 $ — $ 96
Schedule of carrying values and financial instruments not carried at fair value	As of September 30, 2023 As of December 31, 2022 Carrying Fair Carrying Fair (in millions) Assets: Cash and cash equivalents (a) $ 98 $ 98 $ 1,032 $ 1,032 Liabilities: Current portion of debt: Convertible senior notes (b) $ 44 $ 109 $ 29 $ 69 Senior notes (b) $ — $ — $ 750 $ 738 Long-term debt: Convertible senior notes (b) $ 582 $ 1,437 $ 925 $ 2,184 Senior notes (b) $ 4,298 $ 3,792 $ 3,200 $ 2,696 ______________________ (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 6 for additional information.

Exploratory Well and Project _2

Exploratory Well and Project Costs (Tables)	9 Months Ended
	Sep. 30, 2023
Extractive Industries [Abstract]
Schedule of capitalized exploratory well costs, roll forward	The changes in capitalized exploratory well and project costs are as follows: Nine Months Ended September 30, 2023 (in millions) Beginning capitalized exploratory well and project costs $ 834 Additions to exploratory well and project costs pending the determination of proved reserves 3,047 Reclassifications due to determination of proved reserves (2,678) Ending capitalized exploratory well and project costs $ 1,203
Schedule of capitalized exploratory costs and the number of projects for which exploratory costs have been capitalized	Aging of capitalized exploratory costs and the number of projects for which exploratory well costs have been capitalized based on the date drilling was completed, are as follows: As of September 30, 2023 As of December 31, 2022 (in millions, except project counts) One year or less $ 1,203 $ 834 More than one year — — $ 1,203 $ 834 Number of projects with exploratory well costs that have been suspended for a period greater than one year — —

Debt and Interest Expense (Tabl

Debt and Interest Expense (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of components of long-term debt	The components of debt, including the effects of issuance costs and net discounts, are as follows: As of September 30, 2023 As of December 31, 2022 (in millions) Outstanding debt principal balances: 0.550% senior notes due 2023 $ — $ 750 0.250% convertible senior notes due 2025 629 962 5.100% senior notes due 2026 1,100 — 1.125% senior notes due 2026 750 750 7.200% senior notes due 2028 241 241 4.125% senior notes due 2028 138 138 1.900% senior notes due 2030 1,100 1,100 2.150% senior notes due 2031 1,000 1,000 4,958 4,941 Issuance costs and discounts, net (34) (37) Total debt 4,924 4,904 Less current portion of debt 44 779 Long-term debt $ 4,880 $ 4,125
Schedule of derivative instruments	Certain holders of the Convertible Notes exercised their conversion option resulting in the Company recognizing the following cash payments and cash receipts associated with the conversions: Nine Months Ended September 30, 2023 2022 (in millions) Cash payments: Principal repayments $ 333 $ 240 Conversion premiums 422 321 Conversion option derivative payments, net 14 — Cash payments, net $ 769 $ 561 Cash receipts: Capped Call proceeds $ 104 $ 71 Conversion option derivative receipts, net — 17 Cash receipts, net $ 104 $ 88

Incentive Plans (Tables)

Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense	Share-based compensation expense for (i) restricted stock awards and units expected to be settled in the Company's common shares ("Equity Awards"), (ii) restricted stock units expected to be settled in cash ("Liability Awards"), (iii) performance units ("Performance Awards") issued under the LTIP and (iv) shares issued under the Company's Employee Stock Purchase Plan ("ESPP") are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Equity Awards (a) $ 13 $ 11 $ 42 $ 33 Liability Awards (b) 5 6 11 17 Performance Awards (a) 6 8 25 24 ESPP 1 1 3 2 $ 25 $ 26 $ 81 $ 76 Capitalized share-based compensation expense $ 5 $ 5 $ 14 $ 14 ______________________ (a) In February 2023, the Company changed the retirement eligibility provisions for 2023 share-based compensation awards issued to officers, which shortened the requisite service period over which the expense is recognized. (b) Liability Awards are expected to be settled on their vesting date in cash. As of September 30, 2023 and December 31, 2022, accounts payable – due to affiliates included $2 million and $6 million, respectively, of liabilities attributable to Liability Awards.
Schedule of equity awards, liability awards, performance awards and stock options	Activity for Equity Awards, Liability Awards, and Performance Awards is as follows: Nine Months Ended September 30, 2023 Equity Awards Liability Awards Performance Awards (a) Beginning awards 481,293 119,695 268,003 Awards granted 279,615 54,599 83,727 Awards forfeited (10,685) (6,576) (153) Awards vested (b) (250,633) (64,860) (6,183) Ending awards 499,590 102,858 345,394 ______________________ (a) Reflects the number of performance units initially granted assuming a target payout percentage. In accordance with the Merger Agreement, outstanding Performance Awards are expected to vest at their maximum payout percentage. (b) Per the terms of award agreements and elections, the issuance of common shares may be deferred for certain Equity Awards that vest during the period.

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2023
Asset Retirement Obligation [Abstract]
Schedule of asset retirement obligations	Asset retirement obligations activity is as follows: Nine Months Ended September 30, 2023 (in millions) Beginning asset retirement obligations $ 477 Additions 4 Changes in estimates (52) Liabilities settled (50) Accretion of discount 12 Ending asset retirement obligations 391 Less current portion of asset retirement obligations (107) Asset retirement obligations, long-term $ 284

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Schedule of related party transactions and balances	ProPetro pressure pumping related service charges are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Pressure pumping related service charges $ 19 $ 90 $ 104 $ 298 As of September 30, 2023 As of December 31, 2022 (in millions) Accounts payable - due to affiliates $ 4 $ 44

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Disaggregated revenue from contracts with purchasers by product type is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Oil sales $ 2,823 $ 3,069 $ 7,715 $ 9,594 NGL sales 416 569 1,197 1,783 Gas sales 221 586 691 1,417 Total oil and gas revenues 3,460 4,224 9,603 12,794 Sales of purchased oil 1,677 1,805 4,688 6,356 Sales of purchased gas 4 28 7 60 Total sales of purchased commodities 1,681 1,833 4,695 6,416 $ 5,141 $ 6,057 $ 14,298 $ 19,210

Other Expense (Tables)

Other Expense (Tables)	9 Months Ended
	Sep. 30, 2023
Other Income and Expenses [Abstract]
Schedule of components of other expense	The components of other expense are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Unoccupied facilities expense (a) $ 8 $ 8 $ 25 $ 27 Impairment of long-lived assets (b) ( Note 4 ) — — 22 — Idle equipment charges (c) 1 5 3 19 Loss on early extinguishment of debt — — — 47 South Texas deficiency fee obligation, net (d) — (1) — (18) Other 16 24 43 43 $ 25 $ 36 $ 93 $ 118 ____________________ (a) Primarily represents facilities expense associated with certain offices acquired as part of business combinations that are no longer occupied by the Company. (b) Impairment of long-lived assets represents the decrease in fair value of unoccupied field offices to their expected sales price or market value. (c) Primarily represents idle field equipment and stacked drilling rig charges for the three and nine months ended September 30, 2023 and idle frac equipment fees and frac reservation fees for the three and nine months ended September 30, 2022. (d) Represents changes to the Company's 2022 forecasted minimum volume commitment deficiency fee obligation and receivable associated with the Company's 2019 sale of its Eagle Ford assets and other remaining assets in South Texas.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of income tax (provision) benefit and effective tax rate	Income tax provisions and effective tax rates are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions, except tax rates) Current tax provision $ 248 $ 308 $ 665 $ 471 Deferred tax provision 118 202 341 1,248 Income tax provision $ 366 $ 510 $ 1,006 $ 1,719 Effective tax rate 22 % 20 % 22 % 21 %

Net Income Per Share and Stoc_2

Net Income Per Share and Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Reconciliation of earnings attributable to common stockholders, basic and diluted	The components of basic and diluted net income per share attributable to common shareholders are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions, except per share data) Net income attributable to common shareholders $ 1,301 $ 1,984 $ 3,625 $ 6,364 Participating share-based earnings (a) (3) (4) (5) (11) Basic net income attributable to common shareholders 1,298 1,980 3,620 6,353 Adjustment to after-tax interest expense to reflect the dilutive impact attributable to Convertible Notes 1 1 3 5 Diluted net income attributable to common shareholders $ 1,299 $ 1,981 $ 3,623 $ 6,358 Basic weighted average shares outstanding 233 239 234 241 Convertible Notes (b) 7 11 8 12 Diluted weighted average shares outstanding 240 250 242 253 Net income per share attributable to common shareholders: Basic $ 5.56 $ 8.29 $ 15.47 $ 26.36 Diluted $ 5.41 $ 7.93 $ 14.96 $ 25.11 ______________________ (a) Unvested Equity Awards and Liability Awards represent participating securities because they participate in non-forfeitable dividends with the common equity owners of the Company. Participating share-based earnings represent the distributed and undistributed earnings of the Company attributable to the participating securities. Unvested Equity Awards and Liability Awards do not participate in undistributed net losses as they are not contractually obligated to do so. The dilutive effect of the reallocation of participating share-based earnings to diluted net income attributable to common shareholders was negligible. (b) Diluted weighted average common shares outstanding includes the dilutive effect had the Company's Convertible Notes been converted as of the beginning of the three and nine months ended September 30, 2023 and 2022, respectively. If converted by the holder, the Company may settle in cash, Company's common shares or a combination thereof, at the Company's election. See Note 6 for additional information.
Dividends Declared	Base and variable dividends declared by the Board are as follows: Base Variable Total Total (per share) (per share) (per share) (in millions) 2023: First quarter $ 1.10 $ 4.48 $ 5.58 $ 1,314 Second quarter 1.25 2.09 3.34 784 Third quarter 1.25 0.59 1.84 429 $ 3.60 $ 7.16 $ 10.76 $ 2,527 2022: First quarter $ 0.78 $ 3.00 $ 3.78 $ 922 Second quarter 0.78 6.60 7.38 1,788 Third quarter 1.10 7.47 8.57 2,053 $ 2.66 $ 17.07 $ 19.73 $ 4,763
Class of Treasury Stock	Expenditures to acquire shares under the share repurchase program are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Shares repurchased (a) $ — $ 500 $ 624 $ 1,249 ______________________ (a) During the three and nine months ended September 30, 2023, the Company repurchased no shares and 3.0 million shares, respectively, under the share repurchase program, as compared to 2.3 million and 5.5 million shares repurchased during the same periods in 2022, respectively. Expenditures for share repurchases during the nine months ended September 30, 2023 exclude the one percent excise tax on all share repurchases after December 31, 2022.

Organization and Nature Of Op_2

Organization and Nature Of Operations - Narrative (Details) - Pioneer Natural Resources - Exxon Mobil - Subsequent event $ in Millions	Oct. 10, 2023 USD ($) shares
Business Acquisition [Line Items]
Common stock, number of ExxonMobil common stock for each share of Pioneer common stock converted | shares	2.3234
Termination fee | $	$ 1,800

Divestitures and Nonmonetary _2

Divestitures and Nonmonetary Transactions - Narrative (Divestitures) (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposition of assets				$ 24,000,000	$ 293,000,000
Sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposition of assets		$ 0		$ 0
Midland Basin | Sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposition of assets			$ 39,000,000		165,000,000
Gain (loss) on sale			$ 34,000,000		$ 110,000,000
Martin County Gas Processing | Sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposition of assets	$ 125,000,000
Equity method investment, realized gain (loss) on disposal	$ 0

Divestitures and Nonmonetary _3

Divestitures and Nonmonetary Transactions - Narrative (Acquisitions) (Details) - Exchange of productive assets $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Business Acquisition [Line Items]
Gain on disposition of assets	$ 20
Noncash acquisition related costs	$ 154

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Assets:
Investment in affiliate	$ 176	$ 172
Deferred compensation plan assets	62	65
Assets, fair value disclosure	240	238
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Investment in affiliate	176	172
Deferred compensation plan assets	62	65
Assets, fair value disclosure	238	237
Significant Other Observable Inputs (Level 2)
Assets:
Investment in affiliate	0	0
Deferred compensation plan assets	0	0
Assets, fair value disclosure	2	1
Significant Unobservable Inputs (Level 3)
Assets:
Investment in affiliate	0	0
Deferred compensation plan assets	0	0
Assets, fair value disclosure	0	0
Conversion option derivatives
Assets:
Conversion option derivatives	2	1
Conversion option derivatives | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Conversion option derivatives	0	0
Conversion option derivatives | Significant Other Observable Inputs (Level 2)
Assets:
Conversion option derivatives	2	1
Conversion option derivatives | Significant Unobservable Inputs (Level 3)
Assets:
Conversion option derivatives	0	0
Marketing derivatives
Liabilities:
Derivative liabilities	310	140
Marketing derivatives | Quoted Prices in Active Markets for Identical Assets (Level 1)
Liabilities:
Derivative liabilities	0	0
Marketing derivatives | Significant Other Observable Inputs (Level 2)
Liabilities:
Derivative liabilities	0	0
Marketing derivatives | Significant Unobservable Inputs (Level 3)
Liabilities:
Derivative liabilities	$ 310	$ 140

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Derivative Obligations Under Terminated Hedge Arrangements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Equity Securities, FV-NI, Unrealized Gain (Loss)	$ 40	$ (32)	$ 4	$ (1)
Deferred compensation plan asset valuation adjustment	3	(2)	2	(13)
Derivative [Line Items]
Derivative gain (loss), net	(190)	13	(235)	(187)
0.250% convertible senior notes due 2025 | Convertible debt
Derivative [Line Items]
Noncash derivative gain (loss), net	4	(23)	1	0
Cash receipts (payments) on settled derivatives, net	(18)	17	(14)	17
Derivative gain (loss), net	(14)	(6)	(13)	17
Commodity price derivatives
Derivative [Line Items]
Noncash derivative gain (loss), net	0	59	0	20
Cash receipts (payments) on settled derivatives, net		(121)		(252)
Derivative gain (loss), net	0	(62)	0	(232)
Marketing derivatives
Derivative [Line Items]
Noncash derivative gain (loss), net	(155)	99	(170)	75
Cash receipts (payments) on settled derivatives, net	(21)	(18)	(52)	(47)
Derivative gain (loss), net	$ (176)	$ 81	$ (222)	$ 28

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($) bblPerDay d	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) bblPerDay d $ / bbl	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) $ / bbl	May 01, 2020 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 4,958		$ 4,958		$ 4,941
Debt instrument, convertible, conversion settlement period after notice | d	25		25
Gain on disposition of assets, net	$ 1	$ 35	$ 23	$ 105
Impairment of long-lived assets			$ 22
Marketing Derivative, January 1, 2021 through December 31, 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase contract, amount of barrel to be purchased and sold | bblPerDay	50,000		50,000
Marketing Derivative, May 1, 2022 through April 30, 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase contract, amount of barrel to be purchased and sold | bblPerDay	40,000		40,000
Marketing Derivative, August 1, 2022 through July 31, 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchase contract, amount of barrel to be purchased and sold | bblPerDay	30,000		30,000
0.250% convertible senior notes due 2025 | Convertible debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 629		$ 629		$ 962	$ 1,300
Marketing derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, fair value input, WASP differential deduction | $ / bbl			1.81		1.67

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Liabilities:
Derivative Liability, Current	$ 158	$ 44
Derivatives	$ 152	$ 96
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Derivative Liability, Current	Derivative Liability, Current
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Derivatives	Derivatives
Derivatives not designated as hedging instruments | Conversion option derivatives
Derivative Asset [Abstract]
Derivative Asset, Subject to Master Netting Arrangement, before Offset	$ 2	$ 1
Derivative Assets Offset In Balance Sheet	0	0
Derivative Asset, Current	2	1
Derivatives not designated as hedging instruments | Marketing derivatives
Liabilities:
Derivative Liability, Current	158	44
Derivatives	152	96
Derivatives not designated as hedging instruments | Marketing derivatives | Derivative Current [Member]
Liabilities:
Derivative Liability, Subject to Master Netting Arrangement, before Offset	158	44
Derivative Liabilities Offset In Balance Sheet	0	0
Derivatives not designated as hedging instruments | Marketing derivatives | Derivative Noncurrent [Member]
Liabilities:
Derivative Liability, Subject to Master Netting Arrangement, before Offset	152	96
Derivative Liabilities Offset In Balance Sheet	$ 0	$ 0

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Carrying Values and Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 98	$ 1,032
Current portion of debt	44	779
Long-term debt	4,880	4,125
Convertible debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of debt	44	29
Long-term debt	582	925
Senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of debt	0	750
Long-term debt	4,298	3,200
Estimate of Fair Value Measurement | Convertible debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of debt	109	69
Long-term debt	1,437	2,184
Estimate of Fair Value Measurement | Senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of debt	0	738
Long-term debt	3,792	2,696
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	$ 98	$ 1,032

Exploratory Well and Project _3

Exploratory Well and Project Costs - Schedule of Capitalized Exploratory Well And Project Activity (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Increase (Decrease) in Capitalized Exploratory Well Costs that are Pending Determination of Proved Reserves [Roll Forward]
Beginning capitalized exploratory well and project costs	$ 834
Additions to exploratory well and project costs pending the determination of proved reserves	3,047
Reclassifications due to determination of proved reserves	(2,678)
Ending capitalized exploratory well and project costs	$ 1,203

Exploratory Well and Project _4

Exploratory Well and Project Costs - Aging of Capitalized Exploratory Costs (Details) $ in Millions	Sep. 30, 2023 USD ($) Well	Dec. 31, 2022 USD ($) Well
Capitalized Exploratory Well Costs [Abstract]
One year or less	$ 1,203	$ 834
More than one year	0	0
Total capitalized exploratory well costs	$ 1,203	$ 834
Number of projects with exploratory well costs that have been suspended for a period greater than one year | Well	0	0

Debt and Interest Expense - Sch

Debt and Interest Expense - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2023	May 31, 2023	Mar. 27, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 4,958			$ 4,941
Issuance costs and discounts, net	(34)			(37)
Total debt	4,924			4,904
Current portion of debt	44			779
Long-term debt	4,880			4,125
Senior notes
Debt Instrument [Line Items]
Current portion of debt	0			750
Long-term debt	$ 4,298			3,200
0.550% senior notes due 2023
Debt Instrument [Line Items]
Stated interest rate	0.55%
0.550% senior notes due 2023 | Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 750		750
0.250% convertible senior notes due 2025
Debt Instrument [Line Items]
Stated interest rate	0.25%
5.100% senior notes due 2026
Debt Instrument [Line Items]
Stated interest rate	5.10%
5.100% senior notes due 2026 | Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 1,100		$ 1,100	0
1.125% senior notes due 2026
Debt Instrument [Line Items]
Stated interest rate	1.125%
1.125% senior notes due 2026 | Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 750			750
7.200% senior notes due 2028
Debt Instrument [Line Items]
Stated interest rate	7.20%
7.200% senior notes due 2028 | Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 241			241
4.125% senior notes due 2028
Debt Instrument [Line Items]
Stated interest rate	4.125%
4.125% senior notes due 2028 | Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 138			138
1.900% senior notes due 2030
Debt Instrument [Line Items]
Stated interest rate	1.90%
1.900% senior notes due 2030 | Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 1,100			1,100
2.150% senior notes due 2031
Debt Instrument [Line Items]
Stated interest rate	2.15%
2.150% senior notes due 2031 | Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 1,000			$ 1,000

Debt and Interest Expense - Nar

Debt and Interest Expense - Narrative (Details)		3 Months Ended	9 Months Ended		24 Months Ended
	Mar. 27, 2023 USD ($)	Sep. 30, 2023 USD ($) day $ / shares	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) day $ / shares	May 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 01, 2020 USD ($)
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 2,000,000,000	$ 2,000,000,000		$ 2,000,000,000
Outstanding borrowings under the Credit Facility		0	0		0
Long-term debt		$ 4,958,000,000	4,958,000,000		$ 4,958,000,000		$ 4,941,000,000
Proceeds from issuance of debt, net of discount			$ 2,589,000,000	$ 0
Cap price | $ / shares		$ 132.53	$ 132.53		$ 132.53
Current portion of debt:		$ 44,000,000	$ 44,000,000		$ 44,000,000		779,000,000
Revolving Credit Agreement | Minimum
Debt Instrument [Line Items]
Debt to book capitalization ratio		0.65	0.65		0.65
Revolving Credit Agreement | Maximum
Debt Instrument [Line Items]
Debt to book capitalization ratio		1	1		1
5.100% senior notes due 2026
Debt Instrument [Line Items]
Stated interest rate		5.10%	5.10%		5.10%
0.550% senior notes due 2023
Debt Instrument [Line Items]
Stated interest rate		0.55%	0.55%		0.55%
0.250% convertible senior notes due 2025
Debt Instrument [Line Items]
Stated interest rate		0.25%	0.25%		0.25%
Senior notes
Debt Instrument [Line Items]
Debt issuance costs, net	$ 7,000,000
Proceeds from issuance of debt, net of discount	1,100,000,000
Current portion of debt:		$ 0	$ 0		$ 0		750,000,000
Senior notes | 5.100% senior notes due 2026
Debt Instrument [Line Items]
Long-term debt	$ 1,100,000,000	1,100,000,000	1,100,000,000		1,100,000,000		0
Senior notes | 0.550% senior notes due 2023
Debt Instrument [Line Items]
Long-term debt		0	$ 0		0	$ 750,000,000	750,000,000
Senior notes | 0.250% convertible senior notes due 2025
Debt Instrument [Line Items]
Initial conversion rate			0.0107379
Convertible debt
Debt Instrument [Line Items]
Current portion of debt:		44,000,000	$ 44,000,000		44,000,000		29,000,000
Convertible debt | 0.250% convertible senior notes due 2025
Debt Instrument [Line Items]
Long-term debt		$ 629,000,000	$ 629,000,000		$ 629,000,000		962,000,000	$ 1,300,000,000
Debt instrument, convertible, conversion price | $ / shares		$ 93.13	$ 93.13		$ 93.13
Debt instrument, convertible, threshold trading days | day		20			20
Threshold consecutive trading days | day		30			30
Debt instrument, convertible, threshold percentage of conversion price		130%			130%
Debt instrument, convertible, threshold percentage of stock price trigger		98%
Debt instrument, convertible, conversion ratio, percent		100%
Effective interest rate			0.60%
Current portion of debt:		$ 44,000,000	$ 44,000,000		$ 44,000,000		$ 29,000,000
Convertible debt | 0.250% convertible senior notes due 2025 | Debt Conversion Terms One
Debt Instrument [Line Items]
Debt instrument, convertible, threshold trading days | day		5
Convertible debt | 0.250% convertible senior notes due 2025 | Debt Conversion Terms Two
Debt Instrument [Line Items]
Threshold consecutive trading days | day		5

Debt and Interest Expense - Con

Debt and Interest Expense - Convertible Notes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Principal repayments			$ 2,994	$ 2,097
0.250% convertible senior notes due 2025 | Convertible debt
Derivative [Line Items]
Principal repayments			333	240
Conversion premiums			422	321
Cash receipts (payments) on settled derivatives, net	$ (18)	$ 17	(14)	17
Cash payments, net			769	561
Capped Call proceeds			104	71
Cash receipts, net			$ 104	$ 88

Incentive Plans - Schedule of C

Incentive Plans - Schedule of Compensation Expense for Each Type of Incentive Award (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 25	$ 26	$ 81	$ 76
Capitalized share-based compensation expense	5	5	14	14
Equity Awards (a)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	13	11	42	33
Liability Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	5	6	11	17
Amount of liabilities attributable to liability awards included in accounts payable	2		2		$ 6
Performance Awards (a)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	6	8	25	24
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1	$ 1	$ 3	$ 2

Incentive Plans - Narrative (De

Incentive Plans - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense	$ 104
Vesting period	3 years
Liability Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense	$ 20

Incentive Plans - Schedule Of E

Incentive Plans - Schedule Of Equity Awards, Liability Awards, Performance Awards and Stock Options Activity (Details)	9 Months Ended
	Sep. 30, 2023 shares
Equity Awards (a)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance outstanding (in shares)	481,293
Awards granted (in shares)	279,615
Awards forfeited (in shares)	(10,685)
Awards vested (in shares)	(250,633)
Ending balance outstanding (in shares)	499,590
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 (in shares)	119,695
Awards granted (in shares)	54,599
Awards forfeited (in shares)	(6,576)
Awards vested (in shares)	(64,860)
Ending balance outstanding (in shares)	102,858
Performance Awards (a)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance outstanding (in shares)	268,003
Awards granted (in shares)	83,727
Awards forfeited (in shares)	(153)
Awards vested (in shares)	(6,183)
Ending balance outstanding (in shares)	345,394

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning asset retirement obligations			$ 477
Additions			4
Changes in estimates			(52)
Liabilities settled			(50)
Accretion of discount	$ 4	$ 4	12	$ 12
Ending asset retirement obligations	391		391
Less current portion of asset retirement obligations	(107)		(107)
Asset retirement obligations, long-term	$ 284		$ 284

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended		19 Months Ended
	Dec. 31, 2018	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Right to designate director, ownership percent						5%
Pressure pumping related service charges		$ (19)	$ (90)	$ (104)	$ (298)
ProPetro | ProPetro
Related Party Transaction [Line Items]
Percent ownership		15%		15%		15%
ProPetro | Pressure pumping assets | Sale of assets
Related Party Transaction [Line Items]
Shares received (in shares)	16.6
Short-term receivables	$ 110
Related party
Related Party Transaction [Line Items]
Accounts payable - due to affiliates		$ 4		$ 4		$ 4	$ 44

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 5,141	$ 6,057	$ 14,298	$ 19,210
Oil sales
Disaggregation of Revenue [Line Items]
Total revenue	2,823	3,069	7,715	9,594
NGL sales
Disaggregation of Revenue [Line Items]
Total revenue	416	569	1,197	1,783
Gas sales
Disaggregation of Revenue [Line Items]
Total revenue	221	586	691	1,417
Total oil and gas revenues
Disaggregation of Revenue [Line Items]
Total revenue	3,460	4,224	9,603	12,794
Sales of purchased oil
Disaggregation of Revenue [Line Items]
Total revenue	1,677	1,805	4,688	6,356
Sales of purchased gas
Disaggregation of Revenue [Line Items]
Total revenue	4	28	7	60
Total sales of purchased commodities
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,681	$ 1,833	$ 4,695	$ 6,416

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Billions	Sep. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable balance representing amounts due or billable	$ 1.7	$ 1.8

Other Expense - Schedule of Com

Other Expense - Schedule of Components of Other Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Income and Expenses [Abstract]
Unoccupied facilities expense (a)	$ 8	$ 8	$ 25	$ 27
Impairment of long-lived assets	0	0		0
Idle equipment charges (c)	1	5	3	19
Loss on early extinguishment of debt	0	0	0	47
South Texas deficiency fee obligation, net (d)	0	(1)	0	(18)
Other	16	24	43	43
Total other expense	$ 25	$ 36	$ 93	$ 118

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Expense) and Effective Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
IRS excise taxes payable			$ 6
Current tax provision	$ 248	$ 308	665	$ 471
Deferred tax provision	118	202	341	1,248
Income tax provision	$ 366	$ 510	$ 1,006	$ 1,719
Effective tax rate	22%	20%	22%	21%

Net Income (Loss) Per Share and

Net Income (Loss) Per Share and Stockholders' Equity - Reconciliation of Earnings Attributable to Common Stockholders, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income attributable to common shareholders	$ 1,301	$ 1,984	$ 3,625	$ 6,364
Participating share-based earnings	(3)	(4)	(5)	(11)
Basic net income attributable to common shareholders	1,298	1,980	3,620	6,353
Adjustment to after-tax interest expense to reflect the dilutive impact attributable to Convertible Notes	1	1	3	5
Diluted net income attributable to common shareholders	$ 1,299	$ 1,981	$ 3,623	$ 6,358
Basic weighted average shares outstanding (in shares)	233	239	234	241
Convertible Notes dilution (in shares)	7	11	8	12
Diluted weighted average shares outstanding (in shares)	240	250	242	253
Basic (usd per share)	$ 5.56	$ 8.29	$ 15.47	$ 26.36
Diluted (usd per share)	$ 5.41	$ 7.93	$ 14.96	$ 25.11

Net Income (Loss) Per Share a_2

Net Income (Loss) Per Share and Stockholders' Equity - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Common stock, dividends, per share, declared, base (usd per share)	$ 1.25	$ 1.25	$ 1.10	$ 1.10	$ 0.78	$ 0.78	$ 3.60	$ 2.66
Common stock, dividends, per share, declared (usd per share)	0.59	2.09	4.48	7.47	6.60	3	7.16	17.07
Dividends declared (usd per share)	$ 1.84	$ 3.34	$ 5.58	$ 8.57	$ 7.38	$ 3.78	$ 10.76	$ 19.73
Dividends, common stock, cash	$ 429	$ 784	$ 1,314	$ 2,053	$ 1,788	$ 922	$ 2,527	$ 4,763

Net Income (Loss) Per Share a_3

Net Income (Loss) Per Share and Stockholders' Equity - Narrative (Details) - Common stock repurchase program - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Apr. 27, 2023	Feb. 28, 2022
Equity, Class of Treasury Stock [Line Items]
Authorized amount					$ 4,000,000,000	$ 4,000,000,000
Purchases of treasury stock (in shares)	0	500,000	624,000	1,249,000
Stock repurchased during period (in shares)	0	2,300	3,000	5,500

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		3 Months Ended						9 Months Ended
	Nov. 02, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Subsequent Event [Line Items]
Dividends declared (usd per share)		$ 1.84	$ 3.34	$ 5.58	$ 8.57	$ 7.38	$ 3.78	$ 10.76	$ 19.73
Subsequent event
Subsequent Event [Line Items]
Quarterly base dividend declared (usd per share)	$ 1.25
Dividends declared (usd per share)	$ 1.95