Concho Resources (CXO) 10-Q 31 Oct 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 29, 2018
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	CXO
Entity Registrant Name	CONCHO RESOURCES INC
Entity Central Index Key	1,358,071
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		200,250,195

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 24	$ 0
Accounts receivable, net of allowance for doubtful accounts:
Oil and natural gas	520	331
Joint operations and other	387	212
Inventory	36	14
Prepaid costs and other	61	35
Total current assets	1,028	592
Property and equipment:
Oil and natural gas properties, successful efforts method	30,980	21,267
Accumulated depletion and depreciation	(9,362)	(8,460)
Total oil and natural gas properties, net	21,618	12,807
Other property and equipment, net	277	234
Total property and equipment, net	21,895	13,041
Deferred loan costs, net	11	13
Goodwill	2,246	0
Intangible assets, net	20	26
Other assets	10	60
Total assets	25,210	13,732
Current liabilities:
Accounts payable - trade	44	43
Bank overdrafts	87	116
Revenue payable	283	183
Accrued drilling costs	548	330
Derivative instruments	547	277
Other current liabilities	367	216
Total current liabilities	1,876	1,165
Long-term debt	4,143	2,691
Deferred income taxes	1,431	687
Noncurrent derivative instruments	363	102
Asset retirement obligations and other long-term liabilities	165	172
Commitments and contingencies (Note 10)
Stockholders' equity:
Common stock, $0.001 par value; 300,000,000 authorized; 201,268,321 and 149,324,849 shares issued at September 30, 2018 and December 31, 2017, respectively	0	0
Additional paid-in capital	14,749	7,142
Retained earnings	2,613	1,840
Treasury stock, at cost; 1,028,138 and 598,049 shares at September 30, 2018 and December 31, 2017, respectively	(130)	(67)
Total stockholders' equity	17,232	8,915
Total liabilities and stockholders' equity	$ 25,210	$ 13,732

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Consolidated Balance Sheets [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	201,268,321	149,324,849
Treasury shares	1,028,138	598,049

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating revenues:
Total operating revenues	$ 1,192	$ 627	$ 3,084	$ 1,806
Operating costs and expenses:
Production and ad valorem taxes	89	48	229	140
Exploration and abandonments	10	7	36	42
Depreciation, depletion and amortization	406	284	1,033	848
Accretion of discount on asset retirement obligations	3	2	7	6
General and administrative (including non-cash stock-based compensation of $23 and $17 for the three months ended September 30, 2018 and 2017, respectively, and $58 and $43 for the nine months ended September 30, 2018 and 2017, respectively)	84	64	221	180
(Gain) loss on derivatives	625	206	793	(289)
(Gain) loss on disposition of assets, net	5	(13)	(719)	(667)
Transaction costs	23	0	39	2
Total operating costs and expenses	1,417	704	2,091	555
Income (loss) from operations	(225)	(77)	993	1,251
Other income (expense):
Interest expense	(46)	(39)	(103)	(118)
Loss on extinguishment of debt	0	(65)	0	(66)
Other, net	3	2	108	20
Total other income (expense)	(43)	(102)	5	(164)
Income (loss) before income taxes	(268)	(179)	998	1,087
Income tax (expense) benefit	69	66	(225)	(398)
Net income (loss)	$ (199)	$ (113)	$ 773	$ 689
Earnings per share:
Basic net income (loss)	$ (1.05)	$ (0.77)	$ 4.74	$ 4.64
Diluted net income (loss)	$ (1.05)	$ (0.77)	$ 4.74	$ 4.63
Oil [Member]
Operating revenues:
Total operating revenues	$ 957	$ 498	$ 2,545	$ 1,461
Natural Gas [Member]
Operating revenues:
Total operating revenues	235	129	539	345
Oil and Natural Gas Production [Member]
Operating costs and expenses:
Operating costs and expenses	156	106	416	293
Gathering, Processing and Transportation [Member]
Operating costs and expenses:
Operating costs and expenses	$ 16	$ 0	$ 36	$ 0

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Consolidated Statements of Operations [Abstract]
Non-cash stock-based compensation	$ 23	$ 17	$ 58	$ 43

Consolidated Statement of Stock

Consolidated Statement of Stockholders Equity - 9 months ended Sep. 30, 2018 - USD ($) shares in Thousands, $ in Millions	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]
BALANCE, Shares at Dec. 31, 2017		149,325			598
BALANCE at Dec. 31, 2017	$ 8,915	$ 0	$ 7,142	$ 1,840	$ (67)
Net income (loss)	773	$ 0	0	773	0
Common stock issued in business combination, shares		50,915
Common stock issued in business combination	7,549	$ 0	7,549	0	0
Grants of restricted stock, shares		646
Performance unit share conversion, shares		446
Cancellation of restricted stock, shares		(64)
Stock-based compensation	58	$ 0	58	0	$ 0
Purchase of treasury stock, shares					430
Purchase of treasury stock	(63)	$ 0	0	0	$ (63)
BALANCE, Shares at Sep. 30, 2018		201,268			1,028
BALANCE at Sep. 30, 2018	$ 17,232	$ 0	$ 14,749	$ 2,613	$ (130)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 773	$ 689
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, depletion and amortization	1,033	848
Accretion of discount on asset retirement obligations	7	6
Exploration and abandonments, including dry holes	20	29
Non-cash stock-based compensation expense	58	43
Deferred income taxes	225	392
(Gain) loss on disposition of assets, net	(719)	(667)
(Gain) loss on derivatives	793	(289)
Net settlements received from (paid on) derivatives	(238)	126
Loss on extinguishment of debt	0	66
Other	(94)	1
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	(57)	(61)
Prepaid costs and other	(15)	(1)
Inventory	(12)	(1)
Accounts payable	(27)	7
Revenue payable	62	5
Other current liabilities	52	(8)
Net cash provided by operating activities	1,861	1,185
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and natural gas properties	(1,669)	(1,092)
Acquisitions of oil and natural gas properties	(105)	(866)
Additions to property, equipment and other assets	(53)	(34)
Proceeds from the disposition of assets	260	803
Direct transaction costs for disposition of assets	(3)	(18)
Distribution from equity method investment	148	0
Net cash used in investing activities	(1,422)	(1,207)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under credit facility	2,408	473
Payments on credit facility	(2,537)	(105)
Issuance of senior notes, net	1,595	1,794
Repayments of senior notes	0	(2,150)
Repayments of RSP debt	(1,690)	0
Debt extinguishment costs	(83)	(63)
Payments for loan costs	(16)	(25)
Purchase of treasury stock	(63)	(23)
Increase (decrease) in bank overdrafts	(29)	68
Net cash used in financing activities	(415)	(31)
Net increase (decrease) in cash and cash equivalents	24	(53)
Cash and cash equivalents at beginning of period	0	53
Cash and cash equivalents at end of period	24	0
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock for business combinations	$ 7,549	$ 291

Organization and nature of oper

Organization and nature of operations	9 Months Ended
	Sep. 30, 2018
Organization and nature of operations [Abstract]
Organization and nature of operations	Note 1 . Organization and nature of operations Concho Resources Inc. ( the “Company” ) is a Delaware corporation formed on February 22, 2006. The Company’s principal business is the acquisition, development , exploration and production of oil and natural gas properties primarily loc ated in the Permian Basin of S outheast New Mexico and W est Texas.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Sep. 30, 2018
Summary of significant accounting policies [Abstract]
Summary of significant accounting policies	Note 2 . Summary of significant accounting policies Principles of consolidation. The consolidated financial statements of the Company include the accounts of the Company and its 100 percent owned subsidiaries. The consolidated financial statements also included the accounts of a variable interest entity (“VIE”) where the Company was the primary beneficiary of the arrangements until the VIE structure dissolved in January 2018 . See Note 5 for additional information regarding the cir cumstances surrounding the VIE. The Company consolidates the financial statements of these entities. All material intercompany balances and transactions have been eliminated. Reclassifications. Certain prior period amounts have been reclassified to confor m to the 2018 presentation. These reclassifications had no impact on net income , total stockholders’ equity or total cash flows. Use of estimates in the preparation of financial statements. Preparation of financial statements in conformity with general ly accepted accounting principles in the United States of America (“U.S. 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 dat e of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. Depletion of oil and natural gas properties is determined using estimates of proved oil and natu ral gas reserves. There are numerous uncertainties inherent in the estimation of quantities of proved reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of proved a nd unproved oil and natural gas properties are subject to numerous uncertainties including, among others, estimates of future recoverable reserves, commodity price outlooks and prevailing market rates of other sources of income and costs. Other significant estimates include, but are not limited to, asset retirement obligations, goodwill, fair value of stock-based compensation, fair value of business combinations, fair value of nonmonetary transactions, fair value of derivative financial instruments and inco me taxes. Interim financial statements. The accompanying consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the consolidated balance sheet at December 31, 2017 is deriv ed from audited consolidated financial statements. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments necessary to present fairly the Company’s consolidated financial statements. All such adjustments ar e of a normal, recurring nature. In preparing the accompanying consolidated financial statements, management has made certain estimates and assumptions that affect reported amounts in the consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. Certain disclosures have been condensed in or omitted from these consolidated financial statements. Accordingly, these c ondensed notes to the consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . Cash equivalents. The Comp any considers all cash on hand, depository accounts held by banks, money market accounts and investments with an original maturity of three months or less to be cash equivalents. The Company’s cash and cash equivalents are held in financial institutions in amounts that may exceed the insurance limits of the Federal Deposit Insurance Corporation. However, management believes that the Company’s counterparty risks are minimal based on the reputation and histor y of the institutions selected. Goodwill. As a res ult of the RSP Acquisition, as defined in Note 4 , the Company has goodwill in the amount of $ 2.2 b illion at September 30, 2018 . Goodwill is not amortized but assessed for impairment on an annual basis, or more frequently if indicat ors of impairment exist. Impairment tests, which involve the use of estimates related to the fair market value of the business operations with which goodwill is associated , are performed as of July 1 of each year. The balance of goodwill is allocated in it s entirety to the Company’s one reporting unit. When tes ting goodwill for impairment, the Company first perform s a qualitative analysis to determine if it is more likely than not that the fair value of its reporting unit is less than its carrying value. If the analysis shows that the fair value is more likely than not less than the carrying value, then the Company perform s a qu antitative impairment test. The reporting unit’s fair value is calculated as the combined market capitalization of the Company’s equ ity plus a control premium plus the fair value of the Company’s long-term debt. As the Company has elected to early adopt Accounting S tandards Update (“ASU”) No. 2017-04 , “ Intangibles – G oodwill and Other (Topic 350): Simplifying the Test for Goodwill Impa irment ” (“ASU 2017-04 ”), if the results of the quantitative test are such that the fai r value of the reporting unit is less than the carrying value, goodwill is then reduced by an amount that is equal to the amount by which the carrying value of the report ing unit exceeds the fair value. Equity method investments. The Company accounts for its equity method investments under the equity method of accounting and includes the investment balance in other assets on the consolidated balance sheets. Gains and losses incurred from the Company’s equity investments are recorded in o ther income (expense) on the consolidated statements of operations. The Company owns a 23.75 percent membership interest in Oryx Southern Delaware Holdings, LLC (“Oryx”), an entity th at operates a crude oil gathering and transportation system in the Southern Delaware Basin. In February 2018 , Oryx obtained a term loan of $800 million. The proceeds were used in part to fund a cash distribution to its equity holders, of which the Company received a distribution of approximately $157 million. Of this amount, approximately $54 million fully offset the Company’s net investment in Oryx. The remaining distribution of approximately $103 million was recorded in other income (expense) on the Compa ny’s consolidated statement of operations since the lenders to the term loan do not have recourse against the Company , and the Company has no contractual obligation to repay the distribution . The Company’s net investment in Oryx was approximately $ 49 million at December 31, 2017 . The Company recorded income of approximately $ 2 million for the three months ended September 30, 2017 and $ 5 million and $ 4 million for the nine months ended September 30, 2018 and 2017 , respectively. The Company will not record income or loss on the Oryx investment until such net income is greater than the distribution in excess of its investment. In February 2017, the Company closed on the divestiture of its 50 percent membership interest in a midstream joint venture, Alpha Crude Connector, LLC (“ACC”), that constructed a crude oil gathering and transportation system in the Northern Delaware Basin. See Note 5 for additional information regarding the di sposition of ACC. Litigation contingencies. The Company is a party to proceedings and claims incidental to its business. In each reporting period, the Company assesses these claims in an effort to determine the degree of probability and range of possible loss for potential accrual in its consolidated financial statements. The amount of any resulting losses may differ from these estimates. An accrual is recorded for a material loss contingency when its occurrence is probable and damages are reasonably estim able. See Note 10 for additional information. Revenue recognition. On January 1, 2018, the Company adopted Accounting Standards Codification (“ASC ”) Topic 606 , “Revenue from Contracts with Customers,” (“ ASC 606 ”) using the modified retrospective approach , which only applies to contracts that were not completed as of the date of initial application. The adoption did not require an adjustment to opening retained earnings for the cumulative effect adjustment and does not have a material impact on the Company ’s reported net income (loss), cash flows from operations or statement of stockholders’ equity . The C ompany recognizes revenues from the sales of oil and natural gas to its customers and presents them disaggregated on the Company’s consolidated statement s of operations. All revenues are recognized in the geographical region of the Permian Basin. P rior to the adoption of ASC 606, the Company recorded oil and natural gas revenues at the time of physical transfer of such products to the purchaser, which for the Company is primarily at the wellhead. The Company followed the sales method of accounting for oil and natural gas sales, recognizing revenues based on the Company’s actual proceeds from the oil and natural gas sold to purchasers. The Company enters in to contracts with customers to sell its oil and natural gas production. Revenue on these contracts is recognized in accordance with the five-step revenue recognition model prescribed in ASC 606 . Specifically, revenue is recognized when the Company’s perfor mance obligations under these contracts are satisfied, which generally occurs with the transfer of control of the oil and natural gas to the purchaser. Control is generally considered transfe rred when the following criteria are met: (i) transfer of physica l custody, (ii) transfer of title, (iii) transfer of risk of loss and (iv) relinquishment of any repurchase rights or other similar rights. Given the nature of the products sold, reve nue is recognized at a point in time based on the amount of consideration the Company expects to receive in accordance with the price specified in the contract. Consideration under the oil and natural gas marketing contracts is typically received from the purchaser one to two months after production. At September 30, 2018 , the C ompany had receivables related to contracts with customers of approximately $ 520 million. The following table shows the impact of the adoption of ASC 606 on the Company’s current period results as compared to the previous revenue recognition standard, ASC Topic 605, “Revenue recognition” (“ASC 605”): Three Months Ended Nine Months Ended September 30, 2018 September 30, 2018 Under Under Increase Under Under Increase (in millions) ASC 606 ASC 605 (Decrease) ASC 606 ASC 605 (Decrease) Operating revenues: Oil sales $ 957 $ 952 $ 5 $ 2,545 $ 2,537 $ 8 Natural gas sales 235 227 8 539 519 20 Operating costs and expenses: Oil and natural gas production 156 159 (3) 416 424 (8) Gathering, processing and transportation 16 - 16 36 - 36 Net income (loss) $ (199) $ (199) $ - $ 773 $ 773 $ - Oil Contracts. The majority of the Company’s oil marketing contracts transfer physical custody and title at or near the wellhead, which is generally when control of the oil has been transferred to the purchaser. The majority of the oil produced is sold under contracts u sing market-based pricing which is then adjusted for differentials based upon delivery location and oil quality. To the extent the differentials are incurred after the transfer of control of the oil, the differentials are included in o il sales on the state ments of operations as they represent part of the transaction price of the contract. If the differentials, or other related costs, are incurred prior to the transfer of control of the oil, those costs are included in g athering, processing and transportatio n on the Company’s consolidated statement s of operations as they represent payment for services performed outside of the contract with the customer. Natural Gas Contracts. The majority of the Company’s natural gas is sold at the lease location, which is generally when control of the natural gas has been transferred to the purchaser. The natural gas is sold under (i) percent age of proceeds processing contr acts, (ii) fee-based contracts or ( iii) a hybrid of percentage of proceeds and fee-based contracts. Un der the majority of the Company’s contracts, the purchaser gathers the natural gas in the field where it is produced and transports it via pipeline to natural gas processing plants where natural gas liquid products are extracted. The natural gas liquid pro ducts and remaining residue gas are then sold by the purchaser. Under the percentage of proceeds and hybrid percentage of proceeds and fee-based contracts, the Company receives a percentage of the value for the extracted liquids and the residue gas. Under the fee - based contracts, the Company receives natural gas liquids and residue gas value, less the fee component, or is invoiced the fee component. To the extent control of the natural gas transfers upstream of the transportation and processing activities, revenue is recognized as the net amount r eceived from the purchaser. To the extent that control transfers downstream of those costs, revenue is recognized on a gross basis, and the related costs are classified in g athering, processing and transportation o n the Company’s consolidated statements of operations. The Company does not disclose the value of unsatisfied performance obligations under its contracts with customers as it applies the practical exemption in accordance with ASC 606. Th e exemption , as de scribed in ASC 606-10-50-14(a), applies to variable consideration that is recognized as control of the product is transferred to the customer. Since each unit of product represents a separate performance obligation, future volumes are wholly unsatisfied an d disclosure of the transaction price allocated to remaining performance obligations is not required. General and administrative expense. The Company receives fees for the operation of jointly-owned oil and natural gas properties during the drilling and production phases and records such reimbursements as redu ctions to general and administrative expense. Such fees totaled approximate ly $ 4 million for each of the three months ended September 30, 2018 and 2017 and $ 13 million and $ 12 million for the nine months ended September 30, 2018 and 2017 , respectiv ely. Recently adopted accounting pronouncements. In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04, which simplifies how an entity subsequently measures goodwill by eliminating Step 2 from the goodwill impairment test. In place of Step 2, under this standard an entity will recognize an impairment charge for the amount by which the ca rrying amount of a reporting unit exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to the reporting unit. This standard should be applied on a prospective basis and is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted after January 1, 2017. The Company has elected to early adopt this standard beginning in the third quarter of 2018. The early adoption of th is standard did not have an impact on the Company’s financial results. New accounting pronouncements issued but not yet adopted. In Februar y 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842) ” (“ASU 2016-02”), which supersedes current lease guidan ce. The new lease standard requires all leases with a term greater than one year to be recognized on the balance sheet while maintaining substantially similar classifications for financ ing and operating leases. Lease expense recognition on the consolidated statements of operations will be effectively unchanged. This guidance is effective for reporting periods beginning after December 15, 2018 , and early adoption is permitted. The Company does not plan to early adopt the standard. The Company plans to make p olicy elections to not capitalize short-term leases for all asset classes and to not separate non-lease components from lease components for all asset classes except for vehicles. The Company also plans to not elect the package of practical expedients that allows for certain considerations under the original “Leases (Topic 840)” accounting standard (“Topic 840”) to be carried forward upon adoption of ASU 2016-02. The Company enters into lease agreements to support its operations. These agreements are for leases on assets such as office space, vehicles, well equipment and drilling rigs. The Company ha s substantially completed the process of reviewing and determining the contracts to which this new guidance applies . The Company is currently enhancing its acc ounting system in order to track and calculate additional information necessary for adoption of this standard. Upon adoption, the Company will be required to recognize r ight-of-use assets and associated lease liabilities that are not currently recognized under applicable guidance. T he Company does not believe this adoption will have a material impact on its consolidated balance sheets b ased on the leases in place as of the filing of this Quarterly Report. In January 2018, the FASB issued ASU No. 2018-01, “Land Easement Practical Expedie nt for Transition to Topic 842,” which provides an optional practical expedient to not evaluate land easements that exist ed or expired before the adoption of ASU 2016-02 and that were not previously accounted for as leases under Topic 840 . The Company enters into land easements on a routine basis as part of its ongoing operations and has many such agreements currently in place; however, the Company does not currently account for any land easements under Topic 840. As this guidance serves as an amendment to ASU 2016-02, t he Company will elect this practical expedient , which becomes effective upon the date of adoption of ASU 2016-02 . After the adoption of ASU 2016-02 , the Company will assess any new land easements to determine whether the arrangement should be accounted for as a lease. In July 2018, the FASB issued ASU No. 2018-11, “Targeted Improvements , ” which provides a transition electio n to not restate comparative periods for the effects of applying the new lease standard. This transition election permits entities to change the date of initial application to the beginning of the year of adoption and to recognize the effects of applying t he new standard as a cumulative-effect adjustment to the opening balance of retained earnings. The Company expects to elect this transition approach and recognize the cumulative impact of adoption in the opening balance of retained earnings as of January 1 , 2019. In July 2018, the FASB issued ASU No. 2018-09, “Codification Improvements,” which makes amendments to multiple codification topics to clarify, correct errors in, or make minor improvements to the accounting standards codification. The effective da te of the standard is dependent on the facts and circumstances of each amendment. Some amendments do not require transition guidance and will be effective upon the issuance of this standard. Many of the amendments in ASU 2018-09 will be effective in annual periods beginning after December 15, 2018. The Company will be required to adopt this standard in the first quarter of fiscal 2019. The Company is currently assessing the effect that this ASU will have on the financial position, results of operations, and disclosures. In Jun e 2016, the FASB issued ASU No. 2016-13, “Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which replaces the current “incurred loss” methodology for recognizing credit losses wit h an “expected loss” methodology. This new methodology requires that a financial asset measured at amortized cost be presented at the net amount expected to be collected. This standard is intended to provide more timely decision-useful information about th e expected credit losses on financial instruments. This guidance is effective for fiscal years beginning after December 15, 2019, and early adoption is allowed as early as fiscal years beginning after December 15, 2018. The Company does not believe this ne w guidance will have a material impact on its consolidated financial statements. On August 17, 2018, the U.S. Securities and Exchange Commission (the “SEC”) issued a final rule that amends certain of its disclosure requirements that have become redundant, duplicative, overlapping, outdated or superseded, in light of other disclosure requirements, U.S. GAAP or changes in the information environment. The amendments are intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the total mix of information provided to investors. The final rule amends numerous SEC rules, items and forms covering a diverse group of topics, including, but not limited to, changes in stockholders’ equity. The final ru le extends to interim periods the annual disclosure requirement in SEC Regulation S-X, Rule 3-04, of presenting changes in stockholders’ equity. The registrants will be required to analyze changes in stockholders’ equity in the form of a reconciliation fo r the current quarter and year-to-date interim periods and comparative periods in the prior year. The final rule is effective for all filings submitted on or after November 5, 2018. The Company is currently analyzing the final rule and will comply with t he new disclosure requirements for all filings after the effective date.

Exploratory well costs

Exploratory well costs	9 Months Ended
	Sep. 30, 2018
Exploratory well costs [Abstract]
Exploratory well costs	Note 3 . Exploratory well costs The Company capitalizes exploratory well costs until a determination is made that the well has either found proved reserves or that it is impaired. After an exploratory well has been completed and found oil and natural gas reserves, a determination may be pending as to whether the oil and natural gas reserves can be classified as proved. In those circumstances, the Company continues to capitalize the well or project costs pending the determination of proved stat us if (i) the well has found a sufficient quantity of reserves to justify its completion as a producing well and (ii) the Company is making sufficient progress assessing the reserves and the economic and operating viability of the project. The capitalized exploratory well costs are carried in unproved oil and natural gas properties . See Note 16 for the proved and unproved components of oil and natural gas properties. If the exploratory well is determined to be impaired, the well costs are charged to e xploration and abandonments expense in the consolidated statements of operations. The following table reflects the Company’s net capitalized exploratory well activity during the nine months ended September 30, 2018 : Nine Months Ended (in millions) September 30, 2018 Beginning capitalized exploratory well costs $ 182 Additions to exploratory well costs pending the determination of proved reserves 321 Reclassifications due to determination of proved reserves (163) Disposition of wells (14) Ending capitalized exploratory well costs $ 326 The following table provides an aging at September 30, 2018 and December 31, 2017 of capitalized exploratory well costs based on the date drilling was completed: September 30, December 31, (in millions, except number of projects) 2018 2017 Capitalized exploratory well costs that have been capitalized for a period of one year $ 326 $ 180 or less Capitalized exploratory well costs that have been capitalized for a period greater than one year - 2 Total capitalized exploratory well costs $ 326 $ 182 Number of projects with exploratory well costs that have been capitalized for a period greater than one year - 2

RSP Permian Acquisition

RSP Permian Acquisition	9 Months Ended
	Sep. 30, 2018
RSP Permian Acquisition [Abstract]
RSP Permian Acquisition	Note 4 . RSP Acquisition On July 19, 2018, the Company completed the acquisition of RSP Permian, Inc. (“RSP”) through an all-stock transaction (the “RSP Acquisition”) . RSP was an independent oil and natural gas company engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The vast majority of RSP’s acreage was located on la rge, contiguous acreage blocks in the core of the Midland Basi n and Southern Delaware Basin. The acquisition added approximately 92,000 net acres . Under the terms of the Agreement and Plan of Merger (the “Acquisition Agreement”) , each share of RSP common s tock was converted into 0.320 of a share of the Company’s common stock. The Company issued approximately 51 million shares of common stock at a price of $148.27 per share, resulting in total consideration paid by the Company to the former RSP shareholders of approximately $7.5 billion. In connection with the closing of the RSP Acquisition , the Company repaid outstanding principal under RSP’s revolving credit facility and redeemed and canceled all of RSP’s outstanding unsecured senior notes . See Note 9 for additional information regarding the Company’s debt activity. In connection with the RSP Acquisition, the Company incurred approximately $ 23 million and $ 33 million of costs related to consulting, investment banking, advisory, legal and other acquisition -related fees during the three and nine months ended September 30, 2018, respectively, which are included in transaction costs in operating costs and expense s on the consol idated statements of operations. In addition, the Company acquired 670,369 shares of common stock from RSP employees for the payment of withholding taxes due on the vesting of their restricted shares pursuant to the Acquisition A greement, resulting in an increase of approximately $32 million in the Company’s treasury stock balance. Pu rchase price a llocation. The RSP Acquisition has been accounted for as a business combination, using the acquisition method. The following table represents the preliminary allocation of the total purchase price of RSP to the identifiable assets acquired and the liabilities assumed based on the fair values at the acquisition date, with any excess of the purchase price over the estimated fair value of the identifiable net assets acquired recorded as goodwill. Any value assigned to goodwill is not expected to be deductible for income tax purposes. Certa in data necessary to complete the purchase price allocation is not yet available, and includes, but is not limited to, valuation of pre- acquisition contingencies, final tax returns that provide the underlying tax basis of RSP ’s assets and liabilities and f inal appraisals of assets acquired and liabilities assumed. The Company expect s to complete the purchase price allocation during the 12-month period following the acquisition date, during which time the value of the assets and liabilities, including goodwi ll, may be revised as appropriate. Th e following table sets forth the Company’s preliminary purchase price allocation: (in millions) Total purchase price $ 7,549 Fair value of liabilities assumed: Accounts payable – trade $ 25 Accrued drilling costs 131 Current derivative instruments 10 Other current liabilities 130 Long-term debt 1,758 Deferred income taxes 518 Asset retirement obligations 16 Noncurrent derivative instruments 5 Total liabilities assumed $ 2,593 Total purchase price plus liabilities assumed $ 10,142 Fair value of assets acquired: Accounts receivable $ 213 Current derivative instruments 36 Other current assets 21 Proved oil and natural gas properties 4,052 Unproved oil and natural gas properties 3,565 Other property and equipment 5 Noncurrent derivative instruments 2 Other long-term assets 2 Implied goodwill 2,246 Total assets acquired $ 10,142 The fair values of assets acquired and liabilities assumed were based on the following key inputs: Oil and natural gas properties The fair value of proved and unproved oil and natural gas properties was measured using valuation techniques that convert the future cash flows to a single discounted amount. Significant inputs to the valuation of proved and unproved oil and natural gas properties include estimates of: (i) recoverable reserves; (ii) production rates; (iii) future operating and development cos ts; (iv) future commodity prices; and (v) a market-based weighted average costs of capital. The Company utilized a combination of the New York Mercantile Exchange (“ NYMEX ”) strip pricing and consensus pricing to value the reserves, then applied various dis count rates depending on the classification of reserves and other risk characteristics. Management utilized the assistance of a third-party valuation expert to estimate the value of the oil and natural gas properties acquired. The fair value of asset ret irement obligation s totaled $ 16 million and is included in proved oil and natural gas properties with a corresponding liability in the table above. The fair value was determined based on a discounted cash flow model, which included assumptions of the estim ated current abandonment costs, discount rate, inflation rate and timing associated with the incurrence of these costs. The inputs used to value oil and natural gas properties and asset retirement obligation s require significant judgment and estimates ma de by management and represent Level 3 inputs. Financial instruments and other The fair value m easurements of long-term debt were estimated based on the market pric es and represent Level 1 inputs . The fair value measurements of derivative instruments as sumed were determined based on published forward commodity price curves, implied market volatility, contract terms and prices and discount factors as of the close date of the RSP Acquisitio n and represent Level 2 inputs. The fair values of commodity d eriva tive instruments in an asset position include a measure of counterparty nonperformance risk and the derivative instruments in a liability position include a measure of the Company’s own nonperformance risk, each based on the current published credit defaul t swap rates. The fair value s determined for accounts receivable, acc ounts payable – trade, accrued drilling costs and other current liabilities were equivalent to the carrying value due to their short-term nature. Other current liabilities include approximately $22 million of liabilities primarily related to certain regulatory obligations. Deferred income taxes The RSP Acquisition qualified as a tax free merger whereby the Company acquired carryover tax basis in RSP’s assets and liabilities, adju sted for differences between the purchase price allocated to the a ssets acquired and liabilities assumed based on the fair valu e and the carryover tax basis. See Note 11 for additional discussion of deferred income taxes . Goodwill recognized is primarily attributable to the following factors: ( i ) operating and administrative synergies and ( ii ) net deferred tax liabilities arising from the differences between the purchase price allocated to RSP’s assets and liabilities based on fair value and the tax basis of these assets and liabilities. For the operating and administrative synergies, the total consideration for the RSP Acquisition included a control premium, which resulted in a higher value compared to the fair value of net assets acquired. There are also other qualitative assumptions of long-term factors that the RSP Acquisition creates for the Company’s stockholders, including additional potential for exploration and development opportunities and additional scale and efficiencies in basins in which the Co mpany already operates. Approximately $ 250 million of operating revenues and approximately $ 15 million of loss from operations attributed to the RSP Acquisition are included in the Company’s results of operations from the closing date on July 19, 2018 through September 30, 2018 . Pro forma data. The following unaudited pro forma combined condensed financial data for the three and nine months ended September 30, 2018 and 2017 was derived from the historical financial statements of the Company giving effect to the RSP Acquisition, as if it had occurred on January 1, 2017. The below information reflects pro forma adjustments for the issuance of the Company’s common stock in exch ange for RSP’s outstanding shares of common stock, as well as pro forma adjustments based on available information and certain assumptions that the Company believes are reasonable, including (i) the Company’s common stock issued to convert RSP’s outstandin g shares of common stock and equity awards as of the closing date of the RSP A cquisition, (ii) the depletion of RSP’s fair-valued proved oil and gas properties and (iii) the estimated tax impacts of the pro forma adjustments. Additionally, pro forma earni ngs were adjusted to exclude acquisition-related costs incurred by the Company of approximately $ 23 million and $ 33 million for the three and nine months ended September 30, 2018, respectively, and acquisition-related costs incurred by RSP and severance payments to certain RSP employees that totaled approximately $ 52 million and $ 56 million for the three and nine months ended September 30, 2018, respectively. The pro forma results of operations do not include any cost savings or other synergies that may result from the RSP Acquisition or any estimated costs that h ave been or will be incurred by the Company to integrate the RSP assets. The pro forma financial data does not include the results of operations for any other acquisitions made during the periods presented, as they were primarily acreage acquisitions and t heir results were not deemed material. The pro forma combined condensed financial data has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the RSP Acquisition taken place on January 1, 2017 and is not intended to be a projection of future results. Three Months Ended Nine Months Ended September 30, September 30, (in millions, except per share amounts) 2018 2017 2018 2017 Operating revenues $ 1,243 $ 829 $ 3,741 $ 2,361 Net income (loss) $ (133) $ (94) $ 1,039 $ 780 Earnings per share: Basic net income (loss) $ (0.67) $ (0.47) $ 5.19 $ 3.92 Diluted net income (loss) $ (0.67) $ (0.47) $ 5.19 $ 3.91

Other acquisitions, divestiture

Other acquisitions, divestitures and nonmonetary transactions	9 Months Ended
	Sep. 30, 2018
Other acquisitions, divestitures and nonmonetary transactions [Abstract]
Other acquisitions, divestitures and nonmonetary transactions	Note 5 . Ot her a cquisi tions, divestitures and nonmonetary transactions During the nine months ended September 30, 2018 , the Company entered into the following transactions (exclusive of the RSP Acquisition disclosed in Note 4) : February 2018 acquisition and divestiture. In February 2018, the Company closed on an acquisition treated as a business combination where it received producing wells with approximately 5 M B oepd along with approximately 21,000 net acres, primarily located i n the Midland Basin. As consideration for the non-cash acquisition, the Company divested of approximately 34,000 net acres, primarily comprised of approximately 32,000 net acres in the N orthern Delaware Basin, with current production of 3 MBoepd. The busin ess acquired was valued at approximately $755 million as compared to the historical book value of the divested assets of approximately $180 million, which resulted in a non-cash gai n of approximately $575 million . The fair value of the assets acquired totaled approximately $7 55 million, which was comprised of approximately $245 million of proved properties, approximately $480 million of unproved properties and approximately $30 million of other assets. The fair value of the assets received in the business combination approximated the fair value of assets disposed. Southern Delaware Basin divestitures. In January 2018, the Company closed on two asset sales transactions of certain non-core assets in Reeves and Ward Counties with combined proceeds of approximately $280 million . After direct transaction costs, the Company recorded a pre-tax gain of approximately $134 million , which is included in g ain on disposition of assets, net on its consolidated statement of operations for the nine months ended September 30, 2018 . The assets divested included proved and unproved oil and natural gas properties on approximately 20,000 net acres. These divestitures completed a transaction structured as a reverse like-kind exchange (“Reverse 1031 Exchange”) in accordance with Section 1031 of the Internal Re venue Code of 1986, as amended, that the Compan y entered into concurrent with its July 2017 Midland Basin acquisition . In connection with the Reverse 1031 Exchange, the Company assigned the ownership of the oil and natural gas properties acquired to a VIE formed by an exchange accommodation titleholder. The Company operated the properties pursuant to a management agreement with the VIE. At December 31, 2017 and prior to the completion of the reverse like-kind exchange in January 2018 , the Company was determined to be the primary beneficiary of the VIE, as the Company had the ability to control the activities that most significantly impact the VIE’s economic performance. Upon completion of the Reverse 1031 Exchange in January 2018 , the as sets and liabilities attributable to the acquisition that were held by the VIE were conveyed to the Company, and the VIE structure was dissolved . Nonmonetary transactions. During the nine months ended September 30, 2018 , the Company completed multiple nonmonetary transactions. These transactions include d the exchange of both proved and unproved oil and natural gas properties. Certain of these transactions were accounted for at fair value and , as a result , the Company recorded pre-tax gains of a pproximately $ 15 million. During the nine months ended September 30, 2017 , the Company entered into the following transactions: Midland Basin acquisition. In July 2017, the Company completed an acquisition in the Midland Basin. As consideration for the acquisition, the Company paid approximately $595 million in cash. Concurrent with the acquisition, the Company entered into a transaction structured as a Reve rse 1031 Exchange, which was completed in January 2018 upon the closing of its Southern Delaware Basin divestitures. Northern Delaware Basin acquisition. In January and April 2017, the Company closed on the two-part acquisition in the Northern Delaware Basin. As consideration for the entire acquisition, the Company paid approximately $160 million in cash and issued to the seller approximately 2.2 million shares of its common stock with an approximate value of $291 million. ACC divestiture. In February 2 017, the Company closed on the divestiture of its ownership interest in ACC. The Company and its joint venture partner entered into separate agreements to sell 100 percent of their respective ownership interests in ACC. After adjustments for debt and worki ng capital, the Company received cash proceeds fro m the sale of approximately $801 million. After direct transaction costs, the Company recorded a pre-tax gain of approximately $655 million, which is included in gain on disposition of assets, net o n its co nsolidated statement of operations for the nine months ended September 30, 2017 . The Company’s net investment in ACC at the time of closing was approximately $129 million.

Stock incentive plan

Stock incentive plan	9 Months Ended
	Sep. 30, 2018
Stock incentive plan [Abstract]
Stock incentive plan	Note 6 . Stock incentive plan The Company’s 20 15 Stock Incentive Plan (“the Plan”) provides for granting stock options, restricted stock awards and performance awards to directors, officers and employees of the Company. The restricted stock-based compensation awards generally vest over a period ranging from one to eight years. Performance unit award s vest over a period of three years. Shares issued as a result of awards granted under the Plan are generally new common shares. A summary of the Company’s restricted stock shares and performance unit activity under the Plan for the nine months ended September 30, 2018 is presented below: Restricted Performance Stock Shares Units Outstanding at December 31, 2017 1,149,246 247,647 Awards granted (a) 645,584 (b) 111,490 Awards cancelled / forfeited (64,379) - Lapse of restrictions (368,665) - Outstanding at September 30, 2018 1,361,786 359,137 (a) Weighted average grant date fair value per share/unit $ 137.89 $ 216.03 (b) Includes 167,122 restricted stock shares granted to certain RSP employees on July 20, 2018. The following table reflects the future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outsta nding at September 30, 2018 : (in millions) Remaining 2018 $ 25 2019 63 2020 33 2021 10 Thereafter 1 Total $ 132

Disclosures about fair value me

Disclosures about fair value measurements	9 Months Ended
	Sep. 30, 2018
Disclosures about fair value measurements [Abstract]
Disclosures about fair value measurements	Note 7 . Disclosures about fair value measurements The Company uses a valuation framework based upon inputs that market participants use in pricing an asset or liability, which are classified into two categories: observable inputs and unobservable inputs. 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. These two types of inputs are further prioritized into the following fair value input hierarchy: Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. The Company considers active markets to be those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 : Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. This category includes those derivative instruments that the Company values using observable market data. Substantially all of these inputs are observable in the marketplace throughout the full term of the derivative instrument, can be derived from observable data, or supported by observable levels at which transactions are executed in the marketplace. Level 2 instruments primarily include non-ex change traded derivatives such as over-the-counter commodity price swaps, basis swaps, collars and floors, investments and interest rate swaps. The Company’s valuation models are primarily industry-standard models that consider various inputs including: (i ) quoted forward prices f or commodities, (ii) time value, (iii) current market and contractual prices for the underlying instruments and (iv) volatility factors, as well as other relevant economic measures. Level 3 : Prices or valuation models that requir e inputs that are both significant to the fair value measurement and less observable from objective sources ( i.e. , supported by little or no market activity). The Company’s valuation models are primarily industry-standard models that consider various input s including: (i) quoted forward prices for commodities, (ii) time value, (iii) volatility factors and (iv) current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Financial Assets and Liabilities Measured at Fair Value The following table presents the carrying amounts and fair values of the Company’s financial instruments at September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 Carrying Fair Carrying Fair (in millions) Value Value Value Value Derivative instrument liabilities $ 910 $ 910 $ 379 $ 379 Credit facility $ 193 $ 193 $ 322 $ 322 $600 million 4.375% senior notes due 2025 (a) $ 593 $ 605 $ 593 $ 624 $1,000 million 3.75% senior notes due 2027 (a) $ 988 $ 959 $ 987 $ 1,012 $1,000 million 4.3% senior notes due 2028 (a) $ 988 $ 996 $ - $ - $800 million 4.875% senior notes due 2047 (a) $ 789 $ 814 $ 789 $ 874 $600 million 4.85% senior notes due 2048 (a) $ 592 $ 606 $ - $ - (a) The carrying value includes associated deferred loan costs and any discount. Credit facility. The carrying amount of the Company’s credit facility, as amended and restated (the “Credit Facility”), approximates its fair value, as the applicable interest rates are variable and reflective of market rates. Senior notes. The fair values of the Company’s senior notes are based on quoted market prices. The debt securities are not actively traded and, therefore, are classified as Level 2 in the fair value hierarchy. Other financial assets and liabilities . The Company has ot her financial instruments consisting primarily of receivables, payables and other current assets and liabilities. The carrying amounts approximate fair value due to the short maturity of these instruments. Derivative instruments. The fair value of the Company’s derivative instruments is estimated by management considering various factors, including closing exchange and over-the-counter quotations and the time value of the underlying commitments. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect th e valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The following table s summarize (i) the valuation of each of the Company’s financial instruments by required fair value hierarchy levels and (ii) the gross fair value by the appropriate balance sheet classification, even when the derivative instruments are subject to netting arrangements and qualify for net presentation in the Company’s consolidated balance sheets at September 30, 2018 and December 31, 2017 . The Company nets the fair value of derivative instruments by counterparty in the Company’s consolidated balance sheets. September 30, 2018 Fair Value Measurements Using Net Quoted Prices Gross Fair Value in Active Significant Amounts Presented Markets for Other Significant Offset in the in the Identical Observable Unobservable Total Consolidated Consolidated Assets Inputs Inputs Fair Balance Balance (in millions) (Level 1) (Level 2) (Level 3) Value Sheet Sheet Assets: Current: Commodity derivatives $ - $ 207 $ - $ 207 $ (207) $ - Noncurrent: Commodity derivatives - 17 - 17 (17) - Liabilities: Current: Commodity derivatives - (754) - (754) 207 (547) Noncurrent: Commodity derivatives - (380) - (380) 17 (363) Net derivative instruments $ - $ (910) $ - $ (910) $ - $ (910) December 31, 2017 Fair Value Measurements Using Net Quoted Prices Gross Fair Value in Active Significant Amounts Presented Markets for Other Significant Offset in the in the Identical Observable Unobservable Total Consolidated Consolidated Assets Inputs Inputs Fair Balance Balance (in millions) (Level 1) (Level 2) (Level 3) Value Sheet Sheet Assets: Current: Commodity derivatives $ - $ 13 $ - $ 13 $ (13) $ - Noncurrent: Commodity derivatives - 1 - 1 (1) - Liabilities: Current: Commodity derivatives - (290) - (290) 13 (277) Noncurrent: Commodity derivatives - (103) - (103) 1 (102) Net derivative instruments $ - $ (379) $ - $ (379) $ - $ (379) Concentrations of credit risk. At September 30, 2018 , the Company’s primary concentrations of credit risk are the risk of collecting accounts receivable and the risk of counterparties’ failure to perform under derivative obligations. The Company has entered into International Swap Dealers Association Master Agreements (“ISDA Agreements”) with each of its derivative counterparties. The terms of the ISDA Agreements provide the Company and the co unterparties with rights of set- off upon the occurrence of defined acts of default by either the Company or a counterparty to a derivative, whereby the party not in default may set off all derivative liabilities owed to the defaulting party against all derivative asset receivables from the defaulting party. See No te 8 for additional information regarding the Company ’ s derivative activities and counterparties .

Derivative financial instrument

Derivative financial instruments	9 Months Ended
	Sep. 30, 2018
Derivative financial instruments [Abstract]
Derivative financial instruments	Note 8 . Derivative financial instruments The Company uses derivative financial instruments to manage its exposure to commodity price fluctuations. Commodity derivative instruments are used to (i) reduce the effect of the volatility of price changes on the oil and natural gas the Company produces and sells, (ii) support the Company’s capital budget and expenditure plans and (iii) support the economics associated with acquisitions. The Company does not enter into derivative financial instrument s for speculative or trading purposes. The Company also enters into fixed-price forward physical power purchase contracts to manage the volatility of the price of power needed for ongoing operations. The Company may also enter into physical delivery contra cts to effectively provide commodity price hedges. Because these physical contracts are not expected to be net cash settled, the Company has elected normal purchase or normal sale treatment and such contracts are thus recorded at cost. T he Company does not designate its derivative instruments to qualify for hedge accounting. Accordingly, the Company reflects changes in the fair value of its derivative instruments in its consolidated statements of operations as they occur. The following table summarizes the amounts reported in earnings related to the commodity derivative i nstruments for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Gain (loss) on derivatives: Oil derivatives $ (626) $ (205) $ (787) $ 260 Natural gas derivatives 1 (1) (6) 29 Total $ (625) $ (206) $ (793) $ 289 The following table represents the Company’s net cash receipts from (payments on) derivatives for the three and nine months ended September 30, 2018 and 2017: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Net cash receipts from (payments on) derivatives: Oil derivatives $ (46) $ 28 $ (245) $ 129 Natural gas derivatives 2 2 7 (3) Total $ (44) $ 30 $ (238) $ 126 Commodity derivative contracts at September 30, 2018 . The following table sets forth the Company’s outstanding derivative contracts at September 30, 2018 . When aggregating multiple contracts, the weighted average contract price is disclosed. All of the Company’s derivative contracts at September 30, 2018 are expected to settle by December 31, 2020 . First Second Third Fourth Quarter Quarter Quarter Quarter Total Oil Price Swaps: (a) 2018: Volume (Bbl) 11,902,007 11,902,007 Price per Bbl $ 56.86 $ 56.86 2019: Volume (Bbl) 11,272,250 10,289,750 9,514,000 8,932,000 40,008,000 Price per Bbl $ 56.14 $ 55.83 $ 55.61 $ 55.44 $ 55.78 2020: Volume (Bbl) 6,680,500 6,344,500 6,049,000 5,814,000 24,888,000 Price per Bbl $ 58.11 $ 58.08 $ 58.02 $ 57.99 $ 58.05 Oil Three-Way Collars: (a) 2018: Volume (Bbl) 1,227,000 1,227,000 Ceiling price per Bbl $ 60.96 $ 60.96 Floor price per Bbl $ 48.00 $ 48.00 Short put price per Bbl $ 38.00 $ 38.00 Oil Costless Collars: (a) 2018: Volume (Bbl) 1,058,000 1,058,000 Ceiling price per Bbl $ 60.11 $ 60.11 Floor price per Bbl $ 46.52 $ 46.52 2019: Volume (Bbl) 1,335,250 1,213,250 1,135,000 1,058,000 4,741,500 Ceiling price per Bbl $ 64.67 $ 64.00 $ 63.47 $ 62.95 $ 63.83 Floor price per Bbl $ 56.46 $ 56.06 $ 55.74 $ 55.43 $ 55.96 Oil Basis Swaps: (b) 2018: Volume (Bbl) 10,517,000 10,517,000 Price per Bbl $ (0.77) $ (0.77) 2019: Volume (Bbl) 11,730,000 11,419,500 10,994,000 10,533,000 44,676,500 Price per Bbl $ (2.93) $ (3.02) $ (2.97) $ (3.07) $ (2.99) 2020: Volume (Bbl) 8,645,000 8,645,000 8,740,000 8,740,000 34,770,000 Price per Bbl $ (0.82) $ (0.82) $ (0.82) $ (0.82) $ (0.82) Natural Gas Price Swaps: (c) 2018: Volume (MMBtu) 18,458,000 18,458,000 Price per MMBtu $ 3.00 $ 3.00 2019: Volume (MMBtu) 7,291,533 7,231,387 7,178,537 7,089,535 28,790,992 Price per MMBtu $ 2.82 $ 2.81 $ 2.81 $ 2.81 $ 2.81 2020: Volume (MMBtu) 3,276,000 3,276,000 3,128,000 3,128,000 12,808,000 Price per MMBtu $ 2.70 $ 2.70 $ 2.70 $ 2.70 $ 2.70 (a) The oil derivative contracts are settled based on the NYMEX – West Texas Intermediate (“WTI”) monthly average futures price. (b) The basis differential price is between Midland – WTI and Cushing – WTI. The majority of these contracts are settled on a calendar- month basis, while certain contracts assumed in connection with the RSP Acquisition are settled on a trading-month basis. (c) The natural gas derivative contracts are settled based on the NYMEX – Henry Hub last trading day futures price. Derivative counterparties. The Company uses credit and other financial criteria to evaluate the creditworthiness of counterparties to its derivative instruments. The Company believes that all of its derivative counterparties are currently acceptable credit risks. The Company is not required to provide credit support or collateral to any counterparties under its derivative contracts, nor are they required to provide credit support to the Company.

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt [Abstract]
Debt	Note 9 . Debt The Company’s debt consisted of the following at September 30, 2018 and December 31, 2017 : September 30, December 31, (in millions) 2018 2017 Credit facility due 2022 $ 193 $ 322 4.375% unsecured senior notes due 2025 (a) 600 600 3.75% unsecured senior notes due 2027 1,000 1,000 4.3% unsecured senior notes due 2028 1,000 - 4.875% unsecured senior notes due 2047 800 800 4.85% unsecured senior notes due 2048 600 - Unamortized original issue discount (10) (6) Senior notes issuance costs, net (40) (25) Less: current portion - - Total long-term debt $ 4,143 $ 2,691 (a) For each of the twelve-month periods beginning on January 15, 2020, 2021, 2022, 2023 and thereafter, these notes are callable at 103.281%, 102.188%, 101.094% and 100%, respectively. Credit facility. The Company’s Credit Facility has a maturity date of May 9, 2022. At September 30, 2018 , the Company’s commitments from its bank group were $2.0 billion , of which $ 1.8 billion was unused commitments, net of letters of credit . During the nine months ended September 30, 2018 , the weighted average interest rate on the Credit Facility was 4.6 percent. Senior notes . Interest on the Company’s senior notes is paid in arrears semi-annually. The senior notes are fully and uncon ditionally guaranteed on a senior unsecured basis by certain of the Company’s 100 percent owned subsidiaries, subject to customary release provisions as described in Note 14 . On July 2, 2018, the Company issued $1,600 million in aggregate principal amount of unsecured senior notes, consisting of $1,000 million in aggregate principal amount of 4.3% unsecured senior notes due 2028 (the “4.3% Notes”) and $600 million in aggregate principal amount of 4.85% unsecured senior notes due 2048 (the “4.85% Notes” and, together with the 4.3% Notes, the “Notes”). The 4.3% Notes were issued at a price equal to 99.660 percent of par, and the 4.85% Notes were issued at a price equal to 99.740 percent of par. Th e net proceeds of approximately $1,579 million were used to redeem and cancel all of RSP’s outstanding $700 million aggregate principal amount of 6.625% unsecured senior notes due 2022 (the “RSP 2022 Notes”) and $450 million aggregate principal amount of 5 .25% unsecured senior notes due 2025 (the “RSP 2025 Notes” and, together with the RSP 2022 Notes, the “RSP Notes”). The Company made aggregate payments of approximately $1.2 billion to redeem and cancel the RSP Notes, including make-whole call premiums of approximately $35 million and $33 million for the RSP 2022 Notes and RSP 2025 Notes, respectively. The Company also paid accrued interest of approximately $14 million on the RSP Notes. The remaining proceeds, along with borrowings under the Company’s Credi t Facility, were used to repa y the $540 million of outstanding principal under RSP’s revolving credit facility, including $1 million in accrued interest. See Note 4 for additional information regarding the RSP Acquisition. At September 30, 2018 , th e Company was in compliance with the covenants under all of its debt instruments. Interest expense. The following amounts have been incurred and charged to interest expense for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Cash payments for interest $ 16 $ 73 $ 76 $ 138 Non-cash interest 1 1 4 5 Net changes in accruals 31 (35) 28 (25) Interest costs incurred 48 39 108 118 Less: capitalized interest (2) - (5) - Total interest expense $ 46 $ 39 $ 103 $ 118

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and contingencies [Abstract]
Commitments and contingencies	Note 10 . Commitments and contingencies Legal actions . The Company is a party to proceedings and claims incidental to its business. Assessing contingencies is highly subjective and requires judgment about uncertain future events. When evaluating contingencies related to legal proceedings, the Company may be unable to estimate losses due to a number of factors, including potential defenses, the procedural status of the matter in question, the presence of complex legal and/or factual issues, the ong oing discovery and/or development of information important to the matter. For material matters that the Company believes an unfavorable outcome is reasonably possible, it would disclose the nature of the matter and a range of potential exposure, unless an estimate cannot be made at this time. The Company does not believe that the loss for any other litigation matters and claims that are reasonably possible to occur will have a material adverse effect on its financial position, results of operations or liqui dity. The Company will continue to evaluate proceedings and claims involving the Company on a regular basis and will establish and adjust any estimated accruals as appropriate. Mabee Ranch litigation. On July 30, 2018, the owners of certain mineral and s urface interests on the Mabee Ranch in Martin and Andrews Counties, Texas filed a lawsuit against the Company in Martin County District Court. These owners claim ed that the Company breached certain leases by, among other things, exceeding permitted surface uses, failing to obtain required consents and failing to pay certain royalties due to them. The Company filed its answer to the lawsuit on September 10, 2018; shortly thereafter, the plaintiffs and the Company entered into settlement negotiations. Effecti ve September 28, 2018 , the parties executed a settlement agreement that provides for a dismissal of the lawsuit with prejudice. Severance tax, royalty and joint interest audits . The Company is subject to routine severance, royalty and joint interest audits from regulatory bodies and non-operators and makes accruals as necessary for estimated exposure when deemed probable and estimable. Additionally, the Company is subject to various possible contingencies that arise primarily from interpretations affecting the oil and natural gas industry. Such contingencies include differing interpretations a s to the prices at which oil and natural gas sales may be made, the prices at which royalty owners may be paid for production from their leases, allowable costs under joint interest arrangements and other matters. Although the Company believe s that it has estimated its exposure with respect to the various laws and regulations, administrative rulings and interpretations thereof, adjustments could be required as new interpretations and regulations are issued. Regulatory and environmental compliance . Regulato ry liabilities relate to acquisitions where additional equipment is necessary to have facilities compliant with local, state and federal obligations. E nvironmental expenditures that relate to an existing condition caused by past operations and that have no future economic benefits are expensed. Liabilities for expenditures of a noncapital nature are recorded when environmental assessment and/or remediation is probable and the costs can be reasonably estimated. Such liabilities are generally undiscounted unl ess the timing of cash payments is fixed and readily determinable. Environmental liabilities normally involve estimates that are subject to revision until settlement occurs. At September 30, 2018 and December 31, 2017, the Company ha d regulatory and environmental liabilities of approximately $32 million and $3 million, respectively. C ommitments. The Company periodically enters into contractual arrangements under which the Company is committed to expend funds . These contractual arrangements r elate to purchase agreements the Company has entered into including drilling commitments , water commitment agreements, through put volume delivery commitments, fixed and variable power commitments , sand commitment agreements, fixed asset commitments and maintenance commitments . The following table s ummarizes the Company’s commitments at September 30, 2018 : (in millions) Remaining 2018 $ 66 2019 79 2020 80 2021 76 2022 36 2023 33 Thereafter 129 Total $ 499 Throughput sales commitment. In May 2018, the Company entered into a one-year term oil marketing contract with a third-party pu rchaser. The contract requires the Company to deliver not less than seven thousand barrels per day. Should there be a delivery shortfall in any given month, the Company retain s an option to deliver the shortfall volume in any two subsequent months; however, failure to meet this volume delivery commitment would result in a penalty equal t o the volume shortfall multiplied by the then market price for oil. If production is not sufficient to meet the sales commitment, the Company may purchase commodities in the market to satisfy its commitment. Operating leases. The Company leases vehicles, equipment and office facilities under non-cancellable operating leases. Lease payments associated with these operating leases were approximately $ 3 million and $ 2 million for the three months ended September 30, 2018 and 2017 , r espectively, and approximately $ 9 milli on and $ 7 million for the nine months ended September 30, 2018 and 2017 , respectively. Future minimum lease commitments under non-cancellable operating leases at September 30, 2018 were as follows: (in millions) Remaining 2018 $ 3 2019 13 2020 12 2021 9 2022 2 2023 - Thereafter 1 Total $ 40

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2018
Income Taxes [Abstract]
Income taxes	Note 11 . Income taxes The Company’s provision for income taxes for the nine months ended September 30, 2018 and 2017 is based on the estimated annual effective tax rate plus discrete items. The effective income tax rate s w ere 26 percent and 37 percent for the three months ended September 30, 2018 and 2017 , respectively, and 23 percent and 37 percent for the nine months ended September 30, 2018 and 2017 , respectively. The change i n the Company’s effective tax rates for the three and nine months ended September 30, 2018 and 2017 is primarily due to (i) the reduc tion of the U . S . federal statutory corporate income tax rate from 35 percent to 21 percent, (ii) the impact of changes in non-deductible e xpenses, including transaction costs incurred in connection with the RSP Acquisition, and (iii) state income taxes, ne t of federal income tax benefits. As a result of the RSP Acquisit ion described in Note 4 and below, the Company recorded an income tax benefit of approximately $7 million, net of federal benefit , due to a change in the Company’s estimated state tax rate. Additionally, t he Company recorded a disc rete income tax b enefit related to stock-based awards of approximately $3 million and $6 million for the nine months ended September 30, 2018 and 2017 , respectively. On July 19, 2018, the Company completed the a cquisition of RSP Permian Inc . For federal income tax purposes, the transaction qua lified as a tax free merger whereby the Company acquired carryover tax basis in RSP ’s assets and liabilities. The Company recorded an opening balance sheet deferred tax liability of $ 518 million, which includes a deferred t ax asset related to tax attributes acquired from RSP. The acquired income tax attributes primarily consist of NOLs and research and development credits that are subject to an annual limitation under Internal Revenue Code Section 382. The Company expects th at these tax attributes will be fully utilized prior to expiration. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based upon the technical merits of the position . As part of the RSP Acquisition, the Company recorded an unrecognized tax benefit of approximately $20 million, primarily related to research and development credit s . If all or a portion of the unrecognized tax benefit is sustained upon examination by the taxing authorities, the tax benefit will be recognized as a reduction to the Company's deferred tax liability and will affect the Company's effecti ve tax rate in the period recognized. The timing as to when the Company will substantially resolve the uncertainties associated with the unreco gnized tax benefit is uncertain. On December 22, 2017, the President of the United States signed into law the “Tax Cuts and Job s Act” (“TCJA”) , which enacted significant ch anges to federal income tax laws, including a decrease in the federal corporate income tax rat e from 35 percent to 21 percent, which was effective January 1, 2018 . In accordance with Staff Accounting Bulletin No. 118, “Income Tax Accounting Implicatio ns of the Tax Cuts and Jobs Act ” (“SAB 118”) , the Company recorded, based on reasonable est imates, a $398 million decrease to its income tax provision at December 31, 2017. Th is provisional amount related to the re-measurement of certain deferred tax assets and liabilities based on the rates at which they are expe cted to reverse in the future. At September 30, 2018 , the Company has not completed its accounting for all of the tax effects of the TCJA and has not made an adjustment to the provisional tax benefit recorded under SAB 118 at December 31, 2017. The Company has not finalized its accounting for the TCJA pending guidance on matters related to treatment of certain compensation and the completion of its re-measurement of certain deferred tax assets and liabilities . In addit ion, the Company has considered in its estimated annual effective tax rate for 2018 the impact of the statutory changes enacted by the TCJA, including reasonable estimates of those provisions effective for the 2018 tax year.

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2018
Related party transactions [Abstract]
Related party transactions	Note 12 . Related party transactions The Company paid royalties on certain properties to a partnership in which a director of the Company is the general partner and owns a 3.5 percent partnership interest. These payments were reported in the Company’s consolidated statements of operations and totaled approximately $ 2 million and $ 1 million for the three months ended September 30, 2018 and 2017 , respectively, and approximately $ 6 m illion and $ 5 million for the nine months ended September 30, 2018 and 2017 , respectively .

Earnings per share

Earnings per share	9 Months Ended
	Sep. 30, 2018
Earnings per share [Abstract]
Earnings per share	Note 13 . Earnings per share The Company uses the two-class method of calculating earnings per share because certain of the Company’s unvested share-based awards qualify as participating securities. The Company’s basic earnings per share attributable to common stockholders is c omputed as ( i ) net income (loss) as reported, (ii) less participating basic earnings (iii) divided by weighted average basic common shares outstanding. The Company’s diluted earnings per share attributable to common stockho lders is computed as (i) basic earnings attributable to common stockholders, (ii) plus reallocation of participating earnings (iii) divided by weighted average diluted common shares outstanding. The following table reconciles the Company’s earnings from o perations and earnings attributable to common stockholders to the basic and diluted earnings used to determine the Company’s earnings per share amounts for the three and nine months ended September 30, 2018 and 2017 , respectively, under the two-c lass method: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Net income (loss) as reported $ (199) $ (113) $ 773 $ 689 Participating basic earnings (a) - - (6) (5) Basic earnings attributable to common stockholders (199) (113) 767 684 Reallocation of participating earnings - - - - Diluted earnings attributable to common stockholders $ (199) $ (113) $ 767 $ 684 (a) Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends or distributions with the common equity holders of the Company. Participating earnings represent the distributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so. The following table is a reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2018 2017 2018 2017 Weighted average common shares outstanding: Basic 188,953 147,557 161,605 147,233 Dilutive common stock options - - - 4 Dilutive performance units 313 - 342 549 Diluted 189,266 147,557 161,947 147,786 The following table is a summary of the performance units that were not included in the computation of diluted earnings per share, as inclusion of these items would be antidilutive: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2018 2017 2018 2017 Number of antidilutive units: Antidilutive performance units 111 - 110 107 Performance unit awards. The number of shares of common stock that will ultimately be issued for performance units will be determined by a combination of ( i ) comparing the Company’s total shareholder return relative to the total shareholder return of a predetermined group of peer companies at the end of the performance period and (ii) the Company’s absolute total shareholder return at the end of the performance period. The performance period is 36 months. The actual payout of shares will be between zero and 300 percent .

Subsidiary guarantors

Subsidiary guarantors	9 Months Ended
	Sep. 30, 2018
Subsidiary guarantors [Abstract]
Subsidiary guarantors	Note 14 . Subsidiary guarantors At September 30, 2018 , certain of the Company’s 100 percent owned subsidiaries have fully and unconditionally guaranteed the Company’s senior notes. The indentures governing the Company’s senior notes provide that the guarantees of its subsidiary guarantors will be released in certain cus tomary circumstances including (i) in connection with any sale, exchange or other disposition, whether by merger, consolidation or otherwise, of the capital stock of that guarantor to a person that is not the Company or a restricted subsidiary of the Compa ny, such that, after giving effect to such transaction, such guarantor would no longer constitute a subsidiary of the Company, (ii) in connection with any sale, exchange or other disposition (other than a lease) of all or substantially all of the assets of that guarantor to a person that is not the Company or a restricted subsidiary of the Company, (iii) upon the merger of a guarantor into the Company or any other guarantor or the liquidation or dissolution of a guarantor, (iv) if the Company designates any restricted subsidiary that is a guarantor to be an unrestricted subsidiary in accordance with the indenture, (v) upon legal defeasance or satisfaction and discharge of the indenture and (vi) upon written notice of such release or discharge by the Company to the trustee following the release or discharge of all guarantees by such guarantor of any indebtedness that resulted in the creation of such guarantee, except a discharge or release by or as a result of payment under such guarantee. See Note 9 for a summary of the Company’s senior notes. In accordance with practices accepted by the U.S. Securities and Exchange Commission, the Company has prepared condensed consolidating financial statements in order to quantify the assets, results of operations and cash flows of such subsidiaries as subsidiary guarantors. In addition, one of the Company’s subsidiaries does not guarantee the Company’s senior notes and is included in the Company’s consolidated financial statements. This entity is a 100 percent own ed subsidiary that was recently acquired, and is referred to as a “Subsidiary Non-Guarantor” in the tables below . An additional entity did not guarantee the Company’s senior notes at December 31, 2017 . This entity wa s a VIE that was formed to effectuate a tax-free exchange of assets. During the nine months ended September 30, 2018 , the Reverse 1031 Exchange was completed and all assets and liabilities attributable to the VIE were conveyed to the Company. This entity did not guarantee the Company’s se nior notes until the conveyance was completed. See Note 5 for additional information regarding the completion of the Reverse 1031 Exchange. The following condensed consolidating balance s heets at September 30, 2018 and December 31, 2017 , condensed c o nsolidating statements of o perations for the three and nine months ended September 30, 2018 and 2017 and condensed consolidating statements of cash flows for the nine months ended September 30, 2018 and 2017 , present financial informati on fo r Concho Resources Inc. as the p arent on a stand-alone basis ( carrying any investments in subsidiaries under the equity method), financial information for the subsidiary guarantors on a stand-alone basis (carrying any investment in non-guarantor subsi diaries under the equity method), financial information for the subsidiary non-guarantor s on a stand-alone basis and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. All current and d eferred income taxes are recorded on Concho Resources Inc., as the subsidiaries are flow-through entities for income tax purposes. The subsidiary guarantors and subsidiary non-guarantor s are not restricted from making distributions to the Company. Condensed Consolidating Balance Sheet September 30, 2018 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantor Entries Total ASSETS Accounts receivable - related parties $ 9,981 $ (8,190) $ - $ (1,791) $ - Other current assets 21 1,007 - - 1,028 Oil and natural gas properties, net - 21,601 17 - 21,618 Property and equipment, net - 277 - - 277 Investment in subsidiaries 5,097 - - (5,097) - Goodwill - 2,246 - - 2,246 Other long-term assets 17 24 - - 41 Total assets $ 15,116 $ 16,965 $ 17 $ (6,888) $ 25,210 LIABILITIES AND EQUITY Accounts payable - related parties $ (8,190) $ 9,964 $ 17 $ (1,791) $ - Other current liabilities 657 1,219 - - 1,876 Long-term debt 4,143 - - - 4,143 Other long-term liabilities 1,274 685 - - 1,959 Equity 17,232 5,097 - (5,097) 17,232 Total liabilities and equity $ 15,116 $ 16,965 $ 17 $ (6,888) $ 25,210 Condensed Consolidating Balance Sheet December 31, 2017 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantors Entries Total ASSETS Accounts receivable - related parties $ 8,836 $ (669) $ - $ (8,167) $ - Other current assets 6 576 10 - 592 Oil and natural gas properties, net - 12,192 615 - 12,807 Property and equipment, net - 234 - - 234 Investment in subsidiaries 3,202 - - (3,202) - Other long-term assets 23 76 - - 99 Total assets $ 12,067 $ 12,409 $ 625 $ (11,369) $ 13,732 LIABILITIES AND EQUITY Accounts payable - related parties $ (669) $ 8,223 $ 613 $ (8,167) $ - Other current liabilities 341 821 3 - 1,165 Long-term debt 2,691 - - - 2,691 Other long-term liabilities 789 166 6 - 961 Equity 8,915 3,199 3 (3,202) 8,915 Total liabilities and equity $ 12,067 $ 12,409 $ 625 $ (11,369) $ 13,732 Condensed Consolidating Statement of Operations Three Months Ended September 30, 2018 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantor Entries Total Total operating revenues $ - $ 1,192 $ - $ - $ 1,192 Total operating costs and expenses (626) (791) - - (1,417) Income (loss) from operations (626) 401 - - (225) Interest expense (46) - - - (46) Other, net 404 3 - (404) 3 Income (loss) before income taxes (268) 404 - (404) (268) Income tax benefit 69 - - - 69 Net income (loss) $ (199) $ 404 $ - $ (404) $ (199) Condensed Consolidating Statement of Operations Three Months Ended September 30, 2017 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantors Entries Total Total operating revenues $ - $ 619 $ 8 $ - $ 627 Total operating costs and expenses (207) (491) (6) - (704) Income (loss) from operations (207) 128 2 - (77) Interest expense (39) - - - (39) Loss on extinguishment of debt (65) - - - (65) Other, net 132 2 - (132) 2 Income (loss) before income taxes (179) 130 2 (132) (179) Income tax benefit 66 - - - 66 Net income (loss) $ (113) $ 130 $ 2 $ (132) $ (113) Condensed Consolidating Statement of Operations Nine Months Ended September 30, 2018 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantor Entries Total Total operating revenues $ - $ 3,079 $ 5 $ - $ 3,084 Total operating costs and expenses (794) (1,294) (3) - (2,091) Income (loss) from operations (794) 1,785 2 - 993 Interest expense (103) - - - (103) Other, net 1,895 108 - (1,895) 108 Income before income taxes 998 1,893 2 (1,895) 998 Income tax expense (225) - - - (225) Net income $ 773 $ 1,893 $ 2 $ (1,895) $ 773 Condensed Consolidating Statement of Operations Nine Months Ended September 30, 2017 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantors Entries Total Total operating revenues $ - $ 1,798 $ 8 $ - $ 1,806 Total operating costs and expenses 288 (837) (6) - (555) Income from operations 288 961 2 - 1,251 Interest expense (117) (1) - - (118) Loss on extinguishment of debt (66) - - - (66) Other, net 982 20 - (982) 20 Income before income taxes 1,087 980 2 (982) 1,087 Income tax expense (398) - - - (398) Net income $ 689 $ 980 $ 2 $ (982) $ 689 Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2018 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantor Entries Total Net cash flows provided by operating activities $ 386 $ 1,475 $ - $ - $ 1,861 Net cash flows used in investing activities - (1,422) - - (1,422) Net cash flows used in financing activities (386) (29) - - (415) Net increase in cash and cash equivalents - 24 - - 24 Cash and cash equivalents at beginning of period - - - - - Cash and cash equivalents at end of period $ - $ 24 $ - $ - $ 24 Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2017 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantors Entries Total Net cash flows provided by operating activities $ 99 $ 1,084 $ 2 $ - $ 1,185 Net cash flows used in investing activities - (592) (615) - (1,207) Net cash flows provided by (used in) financing activities (99) (545) 613 - (31) Net decrease in cash and cash equivalents - (53) - - (53) Cash and cash equivalents at beginning of period - 53 - - 53 Cash and cash equivalents at end of period $ - $ - $ - $ - $ -

Subsequent events

Subsequent events	9 Months Ended
	Sep. 30, 2018
Subsequent events [Abstract]
Subsequent events	Note 15 . Subsequent events New commodity derivative contracts. After September 30, 2018 , the Company entered into the following derivative contracts to hedge additional amounts of estimated future prod uction First Second Third Fourth Quarter Quarter Quarter Quarter Total Oil Price Swaps: (a) 2019: Volume (Bbl) 720,000 546,000 552,000 552,000 2,370,000 Price per Bbl $ 67.15 $ 67.11 $ 67.11 $ 67.11 $ 67.12 2020: Volume (Bbl) 455,000 455,000 368,000 368,000 1,646,000 Price per Bbl $ 64.37 $ 64.37 $ 64.18 $ 64.18 $ 64.28 (a) The oil derivative contracts are settled based on the NYMEX – WTI monthly average futures price.

Supplementary information

Supplementary information	9 Months Ended
	Sep. 30, 2018
Supplementary information [Abstract]
Supplementary information	Note 16 . Supplementary information Capitalized costs September 30, December 31, (in millions) 2018 2017 Oil and natural gas properties: Proved $ 24,361 $ 18,565 Unproved 6,619 2,702 Less: accumulated depletion (9,362) (8,460) Net capitalized costs for oil and natural gas properties $ 21,618 $ 12,807 (a) (a) Approximately $135 million of the balance at December 31, 2017 relates to assets held for sale that were disposed of during January 2018. Costs incurred for oil and natural gas producing activities Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Property acquisition costs: Proved $ 4,126 $ 162 $ 4,126 $ 301 Unproved 3,578 472 3,596 865 Exploration 481 252 1,059 725 Development 280 175 653 478 Total costs incurred for oil and natural gas properties $ 8,465 $ 1,061 $ 9,434 $ 2,369

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2018
Summary of significant accounting policies [Abstract]
Principles of consolidation	Principles of consolidation. The consolidated financial statements of the Company include the accounts of the Company and its 100 percent owned subsidiaries. The consolidated financial statements also included the accounts of a variable interest entity (“VIE”) where the Company was the primary beneficiary of the arrangements until the VIE structure dissolved in January 2018 . See Note 5 for additional information regarding the cir cumstances surrounding the VIE. The Company consolidates the financial statements of these entities. All material intercompany balances and transactions have been eliminated.
Reclassifications	Reclassifications. Certain prior period amounts have been reclassified to confor m to the 2018 presentation. These reclassifications had no impact on net income , total stockholders’ equity or total cash flows.
Use of estimates in the preparation of financial statements	Use of estimates in the preparation of financial statements. Preparation of financial statements in conformity with general ly accepted accounting principles in the United States of America (“U.S. 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 dat e of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. Depletion of oil and natural gas properties is determined using estimates of proved oil and natu ral gas reserves. There are numerous uncertainties inherent in the estimation of quantities of proved reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of proved a nd unproved oil and natural gas properties are subject to numerous uncertainties including, among others, estimates of future recoverable reserves, commodity price outlooks and prevailing market rates of other sources of income and costs. Other significant estimates include, but are not limited to, asset retirement obligations, goodwill, fair value of stock-based compensation, fair value of business combinations, fair value of nonmonetary transactions, fair value of derivative financial instruments and inco me taxes.
Interim financial statements	Interim financial statements. The accompanying consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the consolidated balance sheet at December 31, 2017 is deriv ed from audited consolidated financial statements. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments necessary to present fairly the Company’s consolidated financial statements. All such adjustments ar e of a normal, recurring nature. In preparing the accompanying consolidated financial statements, management has made certain estimates and assumptions that affect reported amounts in the consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. Certain disclosures have been condensed in or omitted from these consolidated financial statements. Accordingly, these c ondensed notes to the consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 .
Cash equivalents	Cash equivalents. The Comp any considers all cash on hand, depository accounts held by banks, money market accounts and investments with an original maturity of three months or less to be cash equivalents. The Company’s cash and cash equivalents are held in financial institutions in amounts that may exceed the insurance limits of the Federal Deposit Insurance Corporation. However, management believes that the Company’s counterparty risks are minimal based on the reputation and histor y of the institutions selected.
Goodwill	Goodwill. As a res ult of the RSP Acquisition, as defined in Note 4 , the Company has goodwill in the amount of $ 2.2 b illion at September 30, 2018 . Goodwill is not amortized but assessed for impairment on an annual basis, or more frequently if indicat ors of impairment exist. Impairment tests, which involve the use of estimates related to the fair market value of the business operations with which goodwill is associated , are performed as of July 1 of each year. The balance of goodwill is allocated in it s entirety to the Company’s one reporting unit. When tes ting goodwill for impairment, the Company first perform s a qualitative analysis to determine if it is more likely than not that the fair value of its reporting unit is less than its carrying value. If the analysis shows that the fair value is more likely than not less than the carrying value, then the Company perform s a qu antitative impairment test. The reporting unit’s fair value is calculated as the combined market capitalization of the Company’s equ ity plus a control premium plus the fair value of the Company’s long-term debt. As the Company has elected to early adopt Accounting S tandards Update (“ASU”) No. 2017-04 , “ Intangibles – G oodwill and Other (Topic 350): Simplifying the Test for Goodwill Impa irment ” (“ASU 2017-04 ”), if the results of the quantitative test are such that the fai r value of the reporting unit is less than the carrying value, goodwill is then reduced by an amount that is equal to the amount by which the carrying value of the report ing unit exceeds the fair value.
Equity method investments	Equity method investments. The Company accounts for its equity method investments under the equity method of accounting and includes the investment balance in other assets on the consolidated balance sheets. Gains and losses incurred from the Company’s equity investments are recorded in o ther income (expense) on the consolidated statements of operations. The Company owns a 23.75 percent membership interest in Oryx Southern Delaware Holdings, LLC (“Oryx”), an entity th at operates a crude oil gathering and transportation system in the Southern Delaware Basin. In February 2018 , Oryx obtained a term loan of $800 million. The proceeds were used in part to fund a cash distribution to its equity holders, of which the Company received a distribution of approximately $157 million. Of this amount, approximately $54 million fully offset the Company’s net investment in Oryx. The remaining distribution of approximately $103 million was recorded in other income (expense) on the Compa ny’s consolidated statement of operations since the lenders to the term loan do not have recourse against the Company , and the Company has no contractual obligation to repay the distribution . The Company’s net investment in Oryx was approximately $ 49 million at December 31, 2017 . The Company recorded income of approximately $ 2 million for the three months ended September 30, 2017 and $ 5 million and $ 4 million for the nine months ended September 30, 2018 and 2017 , respectively. The Company will not record income or loss on the Oryx investment until such net income is greater than the distribution in excess of its investment. In February 2017, the Company closed on the divestiture of its 50 percent membership interest in a midstream joint venture, Alpha Crude Connector, LLC (“ACC”), that constructed a crude oil gathering and transportation system in the Northern Delaware Basin. See Note 5 for additional information regarding the di sposition of ACC.
Litigation contingencies	Litigation contingencies. The Company is a party to proceedings and claims incidental to its business. In each reporting period, the Company assesses these claims in an effort to determine the degree of probability and range of possible loss for potential accrual in its consolidated financial statements. The amount of any resulting losses may differ from these estimates. An accrual is recorded for a material loss contingency when its occurrence is probable and damages are reasonably estim able. See Note 10 for additional information.
Revenue recognition	Revenue recognition. On January 1, 2018, the Company adopted Accounting Standards Codification (“ASC ”) Topic 606 , “Revenue from Contracts with Customers,” (“ ASC 606 ”) using the modified retrospective approach , which only applies to contracts that were not completed as of the date of initial application. The adoption did not require an adjustment to opening retained earnings for the cumulative effect adjustment and does not have a material impact on the Company ’s reported net income (loss), cash flows from operations or statement of stockholders’ equity . The C ompany recognizes revenues from the sales of oil and natural gas to its customers and presents them disaggregated on the Company’s consolidated statement s of operations. All revenues are recognized in the geographical region of the Permian Basin. P rior to the adoption of ASC 606, the Company recorded oil and natural gas revenues at the time of physical transfer of such products to the purchaser, which for the Company is primarily at the wellhead. The Company followed the sales method of accounting for oil and natural gas sales, recognizing revenues based on the Company’s actual proceeds from the oil and natural gas sold to purchasers. The Company enters in to contracts with customers to sell its oil and natural gas production. Revenue on these contracts is recognized in accordance with the five-step revenue recognition model prescribed in ASC 606 . Specifically, revenue is recognized when the Company’s perfor mance obligations under these contracts are satisfied, which generally occurs with the transfer of control of the oil and natural gas to the purchaser. Control is generally considered transfe rred when the following criteria are met: (i) transfer of physica l custody, (ii) transfer of title, (iii) transfer of risk of loss and (iv) relinquishment of any repurchase rights or other similar rights. Given the nature of the products sold, reve nue is recognized at a point in time based on the amount of consideration the Company expects to receive in accordance with the price specified in the contract. Consideration under the oil and natural gas marketing contracts is typically received from the purchaser one to two months after production. At September 30, 2018 , the C ompany had receivables related to contracts with customers of approximately $ 520 million. The following table shows the impact of the adoption of ASC 606 on the Company’s current period results as compared to the previous revenue recognition standard, ASC Topic 605, “Revenue recognition” (“ASC 605”): Three Months Ended Nine Months Ended September 30, 2018 September 30, 2018 Under Under Increase Under Under Increase (in millions) ASC 606 ASC 605 (Decrease) ASC 606 ASC 605 (Decrease) Operating revenues: Oil sales $ 957 $ 952 $ 5 $ 2,545 $ 2,537 $ 8 Natural gas sales 235 227 8 539 519 20 Operating costs and expenses: Oil and natural gas production 156 159 (3) 416 424 (8) Gathering, processing and transportation 16 - 16 36 - 36 Net income (loss) $ (199) $ (199) $ - $ 773 $ 773 $ - Oil Contracts. The majority of the Company’s oil marketing contracts transfer physical custody and title at or near the wellhead, which is generally when control of the oil has been transferred to the purchaser. The majority of the oil produced is sold under contracts u sing market-based pricing which is then adjusted for differentials based upon delivery location and oil quality. To the extent the differentials are incurred after the transfer of control of the oil, the differentials are included in o il sales on the state ments of operations as they represent part of the transaction price of the contract. If the differentials, or other related costs, are incurred prior to the transfer of control of the oil, those costs are included in g athering, processing and transportatio n on the Company’s consolidated statement s of operations as they represent payment for services performed outside of the contract with the customer. Natural Gas Contracts. The majority of the Company’s natural gas is sold at the lease location, which is generally when control of the natural gas has been transferred to the purchaser. The natural gas is sold under (i) percent age of proceeds processing contr acts, (ii) fee-based contracts or ( iii) a hybrid of percentage of proceeds and fee-based contracts. Un der the majority of the Company’s contracts, the purchaser gathers the natural gas in the field where it is produced and transports it via pipeline to natural gas processing plants where natural gas liquid products are extracted. The natural gas liquid pro ducts and remaining residue gas are then sold by the purchaser. Under the percentage of proceeds and hybrid percentage of proceeds and fee-based contracts, the Company receives a percentage of the value for the extracted liquids and the residue gas. Under the fee - based contracts, the Company receives natural gas liquids and residue gas value, less the fee component, or is invoiced the fee component. To the extent control of the natural gas transfers upstream of the transportation and processing activities, revenue is recognized as the net amount r eceived from the purchaser. To the extent that control transfers downstream of those costs, revenue is recognized on a gross basis, and the related costs are classified in g athering, processing and transportation o n the Company’s consolidated statements of operations. The Company does not disclose the value of unsatisfied performance obligations under its contracts with customers as it applies the practical exemption in accordance with ASC 606. Th e exemption , as de scribed in ASC 606-10-50-14(a), applies to variable consideration that is recognized as control of the product is transferred to the customer. Since each unit of product represents a separate performance obligation, future volumes are wholly unsatisfied an d disclosure of the transaction price allocated to remaining performance obligations is not required.
General and administrative expense	General and administrative expense. The Company receives fees for the operation of jointly-owned oil and natural gas properties during the drilling and production phases and records such reimbursements as redu ctions to general and administrative expense. Such fees totaled approximate ly $ 4 million for each of the three months ended September 30, 2018 and 2017 and $ 13 million and $ 12 million for the nine months ended September 30, 2018 and 2017 , respectiv ely.
Recent accounting pronouncements	Recently adopted accounting pronouncements. In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04, which simplifies how an entity subsequently measures goodwill by eliminating Step 2 from the goodwill impairment test. In place of Step 2, under this standard an entity will recognize an impairment charge for the amount by which the ca rrying amount of a reporting unit exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to the reporting unit. This standard should be applied on a prospective basis and is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted after January 1, 2017. The Company has elected to early adopt this standard beginning in the third quarter of 2018. The early adoption of th is standard did not have an impact on the Company’s financial results. New accounting pronouncements issued but not yet adopted. In Februar y 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842) ” (“ASU 2016-02”), which supersedes current lease guidan ce. The new lease standard requires all leases with a term greater than one year to be recognized on the balance sheet while maintaining substantially similar classifications for financ ing and operating leases. Lease expense recognition on the consolidated statements of operations will be effectively unchanged. This guidance is effective for reporting periods beginning after December 15, 2018 , and early adoption is permitted. The Company does not plan to early adopt the standard. The Company plans to make p olicy elections to not capitalize short-term leases for all asset classes and to not separate non-lease components from lease components for all asset classes except for vehicles. The Company also plans to not elect the package of practical expedients that allows for certain considerations under the original “Leases (Topic 840)” accounting standard (“Topic 840”) to be carried forward upon adoption of ASU 2016-02. The Company enters into lease agreements to support its operations. These agreements are for leases on assets such as office space, vehicles, well equipment and drilling rigs. The Company ha s substantially completed the process of reviewing and determining the contracts to which this new guidance applies . The Company is currently enhancing its acc ounting system in order to track and calculate additional information necessary for adoption of this standard. Upon adoption, the Company will be required to recognize r ight-of-use assets and associated lease liabilities that are not currently recognized under applicable guidance. T he Company does not believe this adoption will have a material impact on its consolidated balance sheets b ased on the leases in place as of the filing of this Quarterly Report. In January 2018, the FASB issued ASU No. 2018-01, “Land Easement Practical Expedie nt for Transition to Topic 842,” which provides an optional practical expedient to not evaluate land easements that exist ed or expired before the adoption of ASU 2016-02 and that were not previously accounted for as leases under Topic 840 . The Company enters into land easements on a routine basis as part of its ongoing operations and has many such agreements currently in place; however, the Company does not currently account for any land easements under Topic 840. As this guidance serves as an amendment to ASU 2016-02, t he Company will elect this practical expedient , which becomes effective upon the date of adoption of ASU 2016-02 . After the adoption of ASU 2016-02 , the Company will assess any new land easements to determine whether the arrangement should be accounted for as a lease. In July 2018, the FASB issued ASU No. 2018-11, “Targeted Improvements , ” which provides a transition electio n to not restate comparative periods for the effects of applying the new lease standard. This transition election permits entities to change the date of initial application to the beginning of the year of adoption and to recognize the effects of applying t he new standard as a cumulative-effect adjustment to the opening balance of retained earnings. The Company expects to elect this transition approach and recognize the cumulative impact of adoption in the opening balance of retained earnings as of January 1 , 2019. In July 2018, the FASB issued ASU No. 2018-09, “Codification Improvements,” which makes amendments to multiple codification topics to clarify, correct errors in, or make minor improvements to the accounting standards codification. The effective da te of the standard is dependent on the facts and circumstances of each amendment. Some amendments do not require transition guidance and will be effective upon the issuance of this standard. Many of the amendments in ASU 2018-09 will be effective in annual periods beginning after December 15, 2018. The Company will be required to adopt this standard in the first quarter of fiscal 2019. The Company is currently assessing the effect that this ASU will have on the financial position, results of operations, and disclosures. In Jun e 2016, the FASB issued ASU No. 2016-13, “Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which replaces the current “incurred loss” methodology for recognizing credit losses wit h an “expected loss” methodology. This new methodology requires that a financial asset measured at amortized cost be presented at the net amount expected to be collected. This standard is intended to provide more timely decision-useful information about th e expected credit losses on financial instruments. This guidance is effective for fiscal years beginning after December 15, 2019, and early adoption is allowed as early as fiscal years beginning after December 15, 2018. The Company does not believe this ne w guidance will have a material impact on its consolidated financial statements. On August 17, 2018, the U.S. Securities and Exchange Commission (the “SEC”) issued a final rule that amends certain of its disclosure requirements that have become redundant, duplicative, overlapping, outdated or superseded, in light of other disclosure requirements, U.S. GAAP or changes in the information environment. The amendments are intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the total mix of information provided to investors. The final rule amends numerous SEC rules, items and forms covering a diverse group of topics, including, but not limited to, changes in stockholders’ equity. The final ru le extends to interim periods the annual disclosure requirement in SEC Regulation S-X, Rule 3-04, of presenting changes in stockholders’ equity. The registrants will be required to analyze changes in stockholders’ equity in the form of a reconciliation fo r the current quarter and year-to-date interim periods and comparative periods in the prior year. The final rule is effective for all filings submitted on or after November 5, 2018. The Company is currently analyzing the final rule and will comply with t he new disclosure requirements for all filings after the effective date.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	9 Months Ended
	Sep. 30, 2018
Summary of significant accounting policies [Abstract]
Impact of the adoption of ASC 606 on current period results	The following table shows the impact of the adoption of ASC 606 on the Company’s current period results as compared to the previous revenue recognition standard, ASC Topic 605, “Revenue recognition” (“ASC 605”): Three Months Ended Nine Months Ended September 30, 2018 September 30, 2018 Under Under Increase Under Under Increase (in millions) ASC 606 ASC 605 (Decrease) ASC 606 ASC 605 (Decrease) Operating revenues: Oil sales $ 957 $ 952 $ 5 $ 2,545 $ 2,537 $ 8 Natural gas sales 235 227 8 539 519 20 Operating costs and expenses: Oil and natural gas production 156 159 (3) 416 424 (8) Gathering, processing and transportation 16 - 16 36 - 36 Net income (loss) $ (199) $ (199) $ - $ 773 $ 773 $ -

Exploratory well costs (Tables)

Exploratory well costs (Tables)	9 Months Ended
	Sep. 30, 2018
Exploratory well costs [Abstract]
Company's capitalized exploratory well activity	The following table reflects the Company’s net capitalized exploratory well activity during the nine months ended September 30, 2018 : Nine Months Ended (in millions) September 30, 2018 Beginning capitalized exploratory well costs $ 182 Additions to exploratory well costs pending the determination of proved reserves 321 Reclassifications due to determination of proved reserves (163) Disposition of wells (14) Ending capitalized exploratory well costs $ 326
Aging of capitalized exploratory well costs based on the date drilling was completed	The following table provides an aging at September 30, 2018 and December 31, 2017 of capitalized exploratory well costs based on the date drilling was completed: September 30, December 31, (in millions, except number of projects) 2018 2017 Capitalized exploratory well costs that have been capitalized for a period of one year $ 326 $ 180 or less Capitalized exploratory well costs that have been capitalized for a period greater than one year - 2 Total capitalized exploratory well costs $ 326 $ 182 Number of projects with exploratory well costs that have been capitalized for a period greater than one year - 2

RSP Permian Acquisition (Tables

RSP Permian Acquisition (Tables)	9 Months Ended
	Sep. 30, 2018
RSP Permian Acquisition [Abstract]
Purchase Price Allocation	Th e following table sets forth the Company’s preliminary purchase price allocation: (in millions) Total purchase price $ 7,549 Fair value of liabilities assumed: Accounts payable – trade $ 25 Accrued drilling costs 131 Current derivative instruments 10 Other current liabilities 130 Long-term debt 1,758 Deferred income taxes 518 Asset retirement obligations 16 Noncurrent derivative instruments 5 Total liabilities assumed $ 2,593 Total purchase price plus liabilities assumed $ 10,142 Fair value of assets acquired: Accounts receivable $ 213 Current derivative instruments 36 Other current assets 21 Proved oil and natural gas properties 4,052 Unproved oil and natural gas properties 3,565 Other property and equipment 5 Noncurrent derivative instruments 2 Other long-term assets 2 Implied goodwill 2,246 Total assets acquired $ 10,142
Schedule of Pro Forma Information	Pro forma data. The following unaudited pro forma combined condensed financial data for the three and nine months ended September 30, 2018 and 2017 was derived from the historical financial statements of the Company giving effect to the RSP Acquisition, as if it had occurred on January 1, 2017. The below information reflects pro forma adjustments for the issuance of the Company’s common stock in exch ange for RSP’s outstanding shares of common stock, as well as pro forma adjustments based on available information and certain assumptions that the Company believes are reasonable, including (i) the Company’s common stock issued to convert RSP’s outstandin g shares of common stock and equity awards as of the closing date of the RSP A cquisition, (ii) the depletion of RSP’s fair-valued proved oil and gas properties and (iii) the estimated tax impacts of the pro forma adjustments. Additionally, pro forma earni ngs were adjusted to exclude acquisition-related costs incurred by the Company of approximately $ 23 million and $ 33 million for the three and nine months ended September 30, 2018, respectively, and acquisition-related costs incurred by RSP and severance payments to certain RSP employees that totaled approximately $ 52 million and $ 56 million for the three and nine months ended September 30, 2018, respectively. The pro forma results of operations do not include any cost savings or other synergies that may result from the RSP Acquisition or any estimated costs that h ave been or will be incurred by the Company to integrate the RSP assets. The pro forma financial data does not include the results of operations for any other acquisitions made during the periods presented, as they were primarily acreage acquisitions and t heir results were not deemed material. The pro forma combined condensed financial data has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the RSP Acquisition taken place on January 1, 2017 and is not intended to be a projection of future results. Three Months Ended Nine Months Ended September 30, September 30, (in millions, except per share amounts) 2018 2017 2018 2017 Operating revenues $ 1,243 $ 829 $ 3,741 $ 2,361 Net income (loss) $ (133) $ (94) $ 1,039 $ 780 Earnings per share: Basic net income (loss) $ (0.67) $ (0.47) $ 5.19 $ 3.92 Diluted net income (loss) $ (0.67) $ (0.47) $ 5.19 $ 3.91

Stock incentive plan (Tables)

Stock incentive plan (Tables)	9 Months Ended
	Sep. 30, 2018
Stock incentive plan [Abstract]
Summary of the Company's stock-based compensation awards activity	A summary of the Company’s restricted stock shares and performance unit activity under the Plan for the nine months ended September 30, 2018 is presented below: Restricted Performance Stock Shares Units Outstanding at December 31, 2017 1,149,246 247,647 Awards granted (a) 645,584 (b) 111,490 Awards cancelled / forfeited (64,379) - Lapse of restrictions (368,665) - Outstanding at September 30, 2018 1,361,786 359,137 (a) Weighted average grant date fair value per share/unit $ 137.89 $ 216.03 (b) Includes 167,122 restricted stock shares granted to certain RSP employees on July 20, 2018.
Future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outstanding	The following table reflects the future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outsta nding at September 30, 2018 : (in millions) Remaining 2018 $ 25 2019 63 2020 33 2021 10 Thereafter 1 Total $ 132

Disclosures about fair value _2

Disclosures about fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosures about fair value measurements [Abstract]
Carrying amounts and fair values of the Company's financial instruments	The following table presents the carrying amounts and fair values of the Company’s financial instruments at September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 Carrying Fair Carrying Fair (in millions) Value Value Value Value Derivative instrument liabilities $ 910 $ 910 $ 379 $ 379 Credit facility $ 193 $ 193 $ 322 $ 322 $600 million 4.375% senior notes due 2025 (a) $ 593 $ 605 $ 593 $ 624 $1,000 million 3.75% senior notes due 2027 (a) $ 988 $ 959 $ 987 $ 1,012 $1,000 million 4.3% senior notes due 2028 (a) $ 988 $ 996 $ - $ - $800 million 4.875% senior notes due 2047 (a) $ 789 $ 814 $ 789 $ 874 $600 million 4.85% senior notes due 2048 (a) $ 592 $ 606 $ - $ - (a) The carrying value includes associated deferred loan costs and any discount.
Net basis derivative fair values as reported in the consolidated balance sheets	The following table s summarize (i) the valuation of each of the Company’s financial instruments by required fair value hierarchy levels and (ii) the gross fair value by the appropriate balance sheet classification, even when the derivative instruments are subject to netting arrangements and qualify for net presentation in the Company’s consolidated balance sheets at September 30, 2018 and December 31, 2017 . The Company nets the fair value of derivative instruments by counterparty in the Company’s consolidated balance sheets. September 30, 2018 Fair Value Measurements Using Net Quoted Prices Gross Fair Value in Active Significant Amounts Presented Markets for Other Significant Offset in the in the Identical Observable Unobservable Total Consolidated Consolidated Assets Inputs Inputs Fair Balance Balance (in millions) (Level 1) (Level 2) (Level 3) Value Sheet Sheet Assets: Current: Commodity derivatives $ - $ 207 $ - $ 207 $ (207) $ - Noncurrent: Commodity derivatives - 17 - 17 (17) - Liabilities: Current: Commodity derivatives - (754) - (754) 207 (547) Noncurrent: Commodity derivatives - (380) - (380) 17 (363) Net derivative instruments $ - $ (910) $ - $ (910) $ - $ (910) December 31, 2017 Fair Value Measurements Using Net Quoted Prices Gross Fair Value in Active Significant Amounts Presented Markets for Other Significant Offset in the in the Identical Observable Unobservable Total Consolidated Consolidated Assets Inputs Inputs Fair Balance Balance (in millions) (Level 1) (Level 2) (Level 3) Value Sheet Sheet Assets: Current: Commodity derivatives $ - $ 13 $ - $ 13 $ (13) $ - Noncurrent: Commodity derivatives - 1 - 1 (1) - Liabilities: Current: Commodity derivatives - (290) - (290) 13 (277) Noncurrent: Commodity derivatives - (103) - (103) 1 (102) Net derivative instruments $ - $ (379) $ - $ (379) $ - $ (379)

Derivative financial instrume_2

Derivative financial instruments (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative financial instruments [Abstract]
Summarizes the gains and losses reported in earnings related to the commodity and interest rate derivative instruments	The following table summarizes the amounts reported in earnings related to the commodity derivative i nstruments for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Gain (loss) on derivatives: Oil derivatives $ (626) $ (205) $ (787) $ 260 Natural gas derivatives 1 (1) (6) 29 Total $ (625) $ (206) $ (793) $ 289 The following table represents the Company’s net cash receipts from (payments on) derivatives for the three and nine months ended September 30, 2018 and 2017: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Net cash receipts from (payments on) derivatives: Oil derivatives $ (46) $ 28 $ (245) $ 129 Natural gas derivatives 2 2 7 (3) Total $ (44) $ 30 $ (238) $ 126
Company's outstanding derivative contracts	The following table sets forth the Company’s outstanding derivative contracts at September 30, 2018 . When aggregating multiple contracts, the weighted average contract price is disclosed. All of the Company’s derivative contracts at September 30, 2018 are expected to settle by December 31, 2020 . First Second Third Fourth Quarter Quarter Quarter Quarter Total Oil Price Swaps: (a) 2018: Volume (Bbl) 11,902,007 11,902,007 Price per Bbl $ 56.86 $ 56.86 2019: Volume (Bbl) 11,272,250 10,289,750 9,514,000 8,932,000 40,008,000 Price per Bbl $ 56.14 $ 55.83 $ 55.61 $ 55.44 $ 55.78 2020: Volume (Bbl) 6,680,500 6,344,500 6,049,000 5,814,000 24,888,000 Price per Bbl $ 58.11 $ 58.08 $ 58.02 $ 57.99 $ 58.05 Oil Three-Way Collars: (a) 2018: Volume (Bbl) 1,227,000 1,227,000 Ceiling price per Bbl $ 60.96 $ 60.96 Floor price per Bbl $ 48.00 $ 48.00 Short put price per Bbl $ 38.00 $ 38.00 Oil Costless Collars: (a) 2018: Volume (Bbl) 1,058,000 1,058,000 Ceiling price per Bbl $ 60.11 $ 60.11 Floor price per Bbl $ 46.52 $ 46.52 2019: Volume (Bbl) 1,335,250 1,213,250 1,135,000 1,058,000 4,741,500 Ceiling price per Bbl $ 64.67 $ 64.00 $ 63.47 $ 62.95 $ 63.83 Floor price per Bbl $ 56.46 $ 56.06 $ 55.74 $ 55.43 $ 55.96 Oil Basis Swaps: (b) 2018: Volume (Bbl) 10,517,000 10,517,000 Price per Bbl $ (0.77) $ (0.77) 2019: Volume (Bbl) 11,730,000 11,419,500 10,994,000 10,533,000 44,676,500 Price per Bbl $ (2.93) $ (3.02) $ (2.97) $ (3.07) $ (2.99) 2020: Volume (Bbl) 8,645,000 8,645,000 8,740,000 8,740,000 34,770,000 Price per Bbl $ (0.82) $ (0.82) $ (0.82) $ (0.82) $ (0.82) Natural Gas Price Swaps: (c) 2018: Volume (MMBtu) 18,458,000 18,458,000 Price per MMBtu $ 3.00 $ 3.00 2019: Volume (MMBtu) 7,291,533 7,231,387 7,178,537 7,089,535 28,790,992 Price per MMBtu $ 2.82 $ 2.81 $ 2.81 $ 2.81 $ 2.81 2020: Volume (MMBtu) 3,276,000 3,276,000 3,128,000 3,128,000 12,808,000 Price per MMBtu $ 2.70 $ 2.70 $ 2.70 $ 2.70 $ 2.70 (a) The oil derivative contracts are settled based on the NYMEX – West Texas Intermediate (“WTI”) monthly average futures price. (b) The basis differential price is between Midland – WTI and Cushing – WTI. The majority of these contracts are settled on a calendar- month basis, while certain contracts assumed in connection with the RSP Acquisition are settled on a trading-month basis. (c) The natural gas derivative contracts are settled based on the NYMEX – Henry Hub last trading day futures price.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt [Abstract]
Company's debt	The Company’s debt consisted of the following at September 30, 2018 and December 31, 2017 : September 30, December 31, (in millions) 2018 2017 Credit facility due 2022 $ 193 $ 322 4.375% unsecured senior notes due 2025 (a) 600 600 3.75% unsecured senior notes due 2027 1,000 1,000 4.3% unsecured senior notes due 2028 1,000 - 4.875% unsecured senior notes due 2047 800 800 4.85% unsecured senior notes due 2048 600 - Unamortized original issue discount (10) (6) Senior notes issuance costs, net (40) (25) Less: current portion - - Total long-term debt $ 4,143 $ 2,691 (a) For each of the twelve-month periods beginning on January 15, 2020, 2021, 2022, 2023 and thereafter, these notes are callable at 103.281%, 102.188%, 101.094% and 100%, respectively.
Interest expense	The following amounts have been incurred and charged to interest expense for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Cash payments for interest $ 16 $ 73 $ 76 $ 138 Non-cash interest 1 1 4 5 Net changes in accruals 31 (35) 28 (25) Interest costs incurred 48 39 108 118 Less: capitalized interest (2) - (5) - Total interest expense $ 46 $ 39 $ 103 $ 118

Commitments and contingencies (

Commitments and contingencies (Tables)	9 Months Ended
	Sep. 30, 2018
Commitments and contingencies [Abstract]
Summary of the Company's future commitments	The following table s ummarizes the Company’s commitments at September 30, 2018 : (in millions) Remaining 2018 $ 66 2019 79 2020 80 2021 76 2022 36 2023 33 Thereafter 129 Total $ 499
Future minimum lease commitments under non-cancellable operating leases	Future minimum lease commitments under non-cancellable operating leases at September 30, 2018 were as follows: (in millions) Remaining 2018 $ 3 2019 13 2020 12 2021 9 2022 2 2023 - Thereafter 1 Total $ 40

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings per share [Abstract]
Reconciliation of earnings attributable to common shares, basic and diluted	The following table reconciles the Company’s earnings from o perations and earnings attributable to common stockholders to the basic and diluted earnings used to determine the Company’s earnings per share amounts for the three and nine months ended September 30, 2018 and 2017 , respectively, under the two-c lass method: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Net income (loss) as reported $ (199) $ (113) $ 773 $ 689 Participating basic earnings (a) - - (6) (5) Basic earnings attributable to common stockholders (199) (113) 767 684 Reallocation of participating earnings - - - - Diluted earnings attributable to common stockholders $ (199) $ (113) $ 767 $ 684 (a) Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends or distributions with the common equity holders of the Company. Participating earnings represent the distributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so.
Reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding	The following table is a reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2018 2017 2018 2017 Weighted average common shares outstanding: Basic 188,953 147,557 161,605 147,233 Dilutive common stock options - - - 4 Dilutive performance units 313 - 342 549 Diluted 189,266 147,557 161,947 147,786
Summary of performance units which were not included in the computation of diluted earnings per share	The following table is a summary of the performance units that were not included in the computation of diluted earnings per share, as inclusion of these items would be antidilutive: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2018 2017 2018 2017 Number of antidilutive units: Antidilutive performance units 111 - 110 107

Subsidiary guarantors (Tables)

Subsidiary guarantors (Tables)	9 Months Ended
	Sep. 30, 2018
Subsidiary guarantors [Abstract]
Condensed Consolidating Balance Sheet	The following condensed consolidating balance s heets at September 30, 2018 and December 31, 2017 , condensed c o nsolidating statements of o perations for the three and nine months ended September 30, 2018 and 2017 and condensed consolidating statements of cash flows for the nine months ended September 30, 2018 and 2017 , present financial informati on fo r Concho Resources Inc. as the p arent on a stand-alone basis ( carrying any investments in subsidiaries under the equity method), financial information for the subsidiary guarantors on a stand-alone basis (carrying any investment in non-guarantor subsi diaries under the equity method), financial information for the subsidiary non-guarantor s on a stand-alone basis and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. All current and d eferred income taxes are recorded on Concho Resources Inc., as the subsidiaries are flow-through entities for income tax purposes. The subsidiary guarantors and subsidiary non-guarantor s are not restricted from making distributions to the Company. Condensed Consolidating Balance Sheet September 30, 2018 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantor Entries Total ASSETS Accounts receivable - related parties $ 9,981 $ (8,190) $ - $ (1,791) $ - Other current assets 21 1,007 - - 1,028 Oil and natural gas properties, net - 21,601 17 - 21,618 Property and equipment, net - 277 - - 277 Investment in subsidiaries 5,097 - - (5,097) - Goodwill - 2,246 - - 2,246 Other long-term assets 17 24 - - 41 Total assets $ 15,116 $ 16,965 $ 17 $ (6,888) $ 25,210 LIABILITIES AND EQUITY Accounts payable - related parties $ (8,190) $ 9,964 $ 17 $ (1,791) $ - Other current liabilities 657 1,219 - - 1,876 Long-term debt 4,143 - - - 4,143 Other long-term liabilities 1,274 685 - - 1,959 Equity 17,232 5,097 - (5,097) 17,232 Total liabilities and equity $ 15,116 $ 16,965 $ 17 $ (6,888) $ 25,210 Condensed Consolidating Balance Sheet December 31, 2017 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantors Entries Total ASSETS Accounts receivable - related parties $ 8,836 $ (669) $ - $ (8,167) $ - Other current assets 6 576 10 - 592 Oil and natural gas properties, net - 12,192 615 - 12,807 Property and equipment, net - 234 - - 234 Investment in subsidiaries 3,202 - - (3,202) - Other long-term assets 23 76 - - 99 Total assets $ 12,067 $ 12,409 $ 625 $ (11,369) $ 13,732 LIABILITIES AND EQUITY Accounts payable - related parties $ (669) $ 8,223 $ 613 $ (8,167) $ - Other current liabilities 341 821 3 - 1,165 Long-term debt 2,691 - - - 2,691 Other long-term liabilities 789 166 6 - 961 Equity 8,915 3,199 3 (3,202) 8,915 Total liabilities and equity $ 12,067 $ 12,409 $ 625 $ (11,369) $ 13,732
Condensed Consolidating Statement of Operations	The following condensed consolidating balance s heets at September 30, 2018 and December 31, 2017 , condensed c o nsolidating statements of o perations for the three and nine months ended September 30, 2018 and 2017 and condensed consolidating statements of cash flows for the nine months ended September 30, 2018 and 2017 , present financial informati on fo r Concho Resources Inc. as the p arent on a stand-alone basis ( carrying any investments in subsidiaries under the equity method), financial information for the subsidiary guarantors on a stand-alone basis (carrying any investment in non-guarantor subsi diaries under the equity method), financial information for the subsidiary non-guarantor s on a stand-alone basis and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. All current and d eferred income taxes are recorded on Concho Resources Inc., as the subsidiaries are flow-through entities for income tax purposes. The subsidiary guarantors and subsidiary non-guarantor s are not restricted from making distributions to the Company. Condensed Consolidating Statement of Operations Three Months Ended September 30, 2018 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantor Entries Total Total operating revenues $ - $ 1,192 $ - $ - $ 1,192 Total operating costs and expenses (626) (791) - - (1,417) Income (loss) from operations (626) 401 - - (225) Interest expense (46) - - - (46) Other, net 404 3 - (404) 3 Income (loss) before income taxes (268) 404 - (404) (268) Income tax benefit 69 - - - 69 Net income (loss) $ (199) $ 404 $ - $ (404) $ (199) Condensed Consolidating Statement of Operations Three Months Ended September 30, 2017 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantors Entries Total Total operating revenues $ - $ 619 $ 8 $ - $ 627 Total operating costs and expenses (207) (491) (6) - (704) Income (loss) from operations (207) 128 2 - (77) Interest expense (39) - - - (39) Loss on extinguishment of debt (65) - - - (65) Other, net 132 2 - (132) 2 Income (loss) before income taxes (179) 130 2 (132) (179) Income tax benefit 66 - - - 66 Net income (loss) $ (113) $ 130 $ 2 $ (132) $ (113) Condensed Consolidating Statement of Operations Nine Months Ended September 30, 2018 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantor Entries Total Total operating revenues $ - $ 3,079 $ 5 $ - $ 3,084 Total operating costs and expenses (794) (1,294) (3) - (2,091) Income (loss) from operations (794) 1,785 2 - 993 Interest expense (103) - - - (103) Other, net 1,895 108 - (1,895) 108 Income before income taxes 998 1,893 2 (1,895) 998 Income tax expense (225) - - - (225) Net income $ 773 $ 1,893 $ 2 $ (1,895) $ 773 Condensed Consolidating Statement of Operations Nine Months Ended September 30, 2017 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantors Entries Total Total operating revenues $ - $ 1,798 $ 8 $ - $ 1,806 Total operating costs and expenses 288 (837) (6) - (555) Income from operations 288 961 2 - 1,251 Interest expense (117) (1) - - (118) Loss on extinguishment of debt (66) - - - (66) Other, net 982 20 - (982) 20 Income before income taxes 1,087 980 2 (982) 1,087 Income tax expense (398) - - - (398) Net income $ 689 $ 980 $ 2 $ (982) $ 689
Condensed Consolidating Statement of Cash Flows	The following condensed consolidating balance s heets at September 30, 2018 and December 31, 2017 , condensed c o nsolidating statements of o perations for the three and nine months ended September 30, 2018 and 2017 and condensed consolidating statements of cash flows for the nine months ended September 30, 2018 and 2017 , present financial informati on fo r Concho Resources Inc. as the p arent on a stand-alone basis ( carrying any investments in subsidiaries under the equity method), financial information for the subsidiary guarantors on a stand-alone basis (carrying any investment in non-guarantor subsi diaries under the equity method), financial information for the subsidiary non-guarantor s on a stand-alone basis and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. All current and d eferred income taxes are recorded on Concho Resources Inc., as the subsidiaries are flow-through entities for income tax purposes. The subsidiary guarantors and subsidiary non-guarantor s are not restricted from making distributions to the Company. Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2018 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantor Entries Total Net cash flows provided by operating activities $ 386 $ 1,475 $ - $ - $ 1,861 Net cash flows used in investing activities - (1,422) - - (1,422) Net cash flows used in financing activities (386) (29) - - (415) Net increase in cash and cash equivalents - 24 - - 24 Cash and cash equivalents at beginning of period - - - - - Cash and cash equivalents at end of period $ - $ 24 $ - $ - $ 24 Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2017 Parent Subsidiary Subsidiary Consolidating (in millions) Issuer Guarantors Non-Guarantors Entries Total Net cash flows provided by operating activities $ 99 $ 1,084 $ 2 $ - $ 1,185 Net cash flows used in investing activities - (592) (615) - (1,207) Net cash flows provided by (used in) financing activities (99) (545) 613 - (31) Net decrease in cash and cash equivalents - (53) - - (53) Cash and cash equivalents at beginning of period - 53 - - 53 Cash and cash equivalents at end of period $ - $ - $ - $ - $ -

Subsequent events (Tables)

Subsequent events (Tables)	9 Months Ended
	Sep. 30, 2018
Subsequent events [Abstract]
New commodity derivative contracts	After September 30, 2018 , the Company entered into the following derivative contracts to hedge additional amounts of estimated future prod uction First Second Third Fourth Quarter Quarter Quarter Quarter Total Oil Price Swaps: (a) 2019: Volume (Bbl) 720,000 546,000 552,000 552,000 2,370,000 Price per Bbl $ 67.15 $ 67.11 $ 67.11 $ 67.11 $ 67.12 2020: Volume (Bbl) 455,000 455,000 368,000 368,000 1,646,000 Price per Bbl $ 64.37 $ 64.37 $ 64.18 $ 64.18 $ 64.28 (a) The oil derivative contracts are settled based on the NYMEX – WTI monthly average futures price.

Supplementary information (Tabl

Supplementary information (Tables)	9 Months Ended
	Sep. 30, 2018
Supplementary information [Abstract]
Capitalized costs	Capitalized costs September 30, December 31, (in millions) 2018 2017 Oil and natural gas properties: Proved $ 24,361 $ 18,565 Unproved 6,619 2,702 Less: accumulated depletion (9,362) (8,460) Net capitalized costs for oil and natural gas properties $ 21,618 $ 12,807 (a) (a) Approximately $135 million of the balance at December 31, 2017 relates to assets held for sale that were disposed of during January 2018.
costs incurred for oil and natural gas producing activities	Costs incurred for oil and natural gas producing activities Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2018 2017 2018 2017 Property acquisition costs: Proved $ 4,126 $ 162 $ 4,126 $ 301 Unproved 3,578 472 3,596 865 Exploration 481 252 1,059 725 Development 280 175 653 478 Total costs incurred for oil and natural gas properties $ 8,465 $ 1,061 $ 9,434 $ 2,369

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jul. 19, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Summary Of Significant Accounting Policies Narrative [Abstract]
Goodwill	$ 2,246		$ 2,246			$ 0
Fees related to operation of jointly owned oil and natural gas properties	4	$ 4	13	$ 12
Receivables related to contracts with customers	520		520			331
Equity Method Investments [Line Items]
Other income (expense)	$ 3	2	$ 108	20
RSP Permian [Member]
Disclosure Summary Of Significant Accounting Policies Narrative [Abstract]
Goodwill					$ 2,246
Oryx Southern Delaware Holdings [Member]
Equity Method Investments [Line Items]
Equity method investment ownership percentage	23.75%		23.75%
Total distribution from equity method investment			$ 157
Portion of equity method investment distribution that offset Company's net investment			54
Other income (expense)			103
Income from equity method investments	$ 0	$ 2	5	$ 4
Total equity method investment	0		0			$ 49
Oryx Southern Delaware Holdings [Member] | Loans Payable [Member]
Equity Method Investments [Line Items]
Face amount of debt	$ 800		$ 800
Alpha Crude Connector [Member]
Equity Method Investments [Line Items]
Equity method investment ownership percentage							50.00%

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Adoption Of ASC 606) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue Recognition Standard Adoption [Line Items]
Operating revenues	$ 1,192	$ 627	$ 3,084	$ 1,806
Net income (loss)	(199)	(113)	773	689
ASC 605 [Member]
Revenue Recognition Standard Adoption [Line Items]
Net income (loss)	(199)		773
Increase (Decrease) Due to ASC 606 Adoption [Member]
Revenue Recognition Standard Adoption [Line Items]
Net income (loss)	0		0
Oil [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating revenues	957	498	2,545	1,461
Oil [Member] | ASC 605 [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating revenues	952		2,537
Oil [Member] | Increase (Decrease) Due to ASC 606 Adoption [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating revenues	5		8
Natural Gas [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating revenues	235	129	539	345
Natural Gas [Member] | ASC 605 [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating revenues	227		519
Natural Gas [Member] | Increase (Decrease) Due to ASC 606 Adoption [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating revenues	8		20
Oil and Natural Gas Production [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating costs and expenses	156	106	416	293
Oil and Natural Gas Production [Member] | ASC 605 [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating costs and expenses	159		424
Oil and Natural Gas Production [Member] | Increase (Decrease) Due to ASC 606 Adoption [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating costs and expenses	(3)		(8)
Gathering, Processing and Transportation [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating costs and expenses	16	$ 0	36	$ 0
Gathering, Processing and Transportation [Member] | ASC 605 [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating costs and expenses	0		0
Gathering, Processing and Transportation [Member] | Increase (Decrease) Due to ASC 606 Adoption [Member]
Revenue Recognition Standard Adoption [Line Items]
Operating costs and expenses	$ 16		$ 36

Exploratory Well Costs (Capital

Exploratory Well Costs (Capitalized Exploratory Well Activity) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Exploratory well costs [Abstract]
Beginning capitalized exploratory well costs	$ 182
Additions to exploratory well costs pending the determination of proved reserves	321
Reclassifications due to determination of proved reserves	(163)
Disposition of wells	(14)
Ending capitalized exploratory well costs	$ 326

Exploratory Well Costs (Aging O

Exploratory Well Costs (Aging Of Capitalized Exploratory Well Costs Based On The Date Of Drilling) (Details) $ in Millions	Sep. 30, 2018USD ($)Number	Dec. 31, 2017USD ($)Number
Disclosure Exploratory Well Costs Aging Of Capitalized Exploratory Well Costs Based On The Date Of Drilling [Abstract]
Capitalized exploratory well costs that have been capitalized for a period of one year or less	$ 326	$ 180
Capitalized exploratory well costs that have been capitalized for a period greater than one year	0	2
Total capitalized exploratory well costs	$ 326	$ 182
Projects that have Exploratory Well Costs that have been Capitalized for Period Greater than One Year, Number of Projects | Number	0	2

RSP Permian Acquisition (Narrat

RSP Permian Acquisition (Narrative) (Details) $ / shares in Units, $ in Millions	Jul. 19, 2018USD ($)a$ / sharesshares	Sep. 30, 2018USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Business Acquisition [Line Items]
Acquisition-related costs			$ 23	$ 0	$ 39	$ 2
Increase in treasury stock					63
Operating revenues			1,192	627	3,084	1,806
Income (loss) from operations			(225)	$ (77)	$ 993	$ 1,251
RSP Permian [Member]
Business Acquisition [Line Items]
Acquisition close date					Jul. 19, 2018
Net acreage | a	92,000
Acquisition share conversion rate	32.00%
Shares issued in acquisition | shares	51,000,000
Share price for acquisition consideration | $ / shares	$ 148.27
Consideration paid	$ 7,549
Acquisition-related costs			23		$ 33
Acquisition-related and severance costs			$ 52		$ 56
Shares received for withholding taxes | shares	670,369
Increase in treasury stock	$ 32
Asset retirement obligations acquired	16
Environmental liabilities acquired, current	$ 22
Operating revenues		$ 250
Income (loss) from operations		$ (15)

RSP Permian Acquisition (Purcha

RSP Permian Acquisition (Purchase Price Allocation) (Details) - USD ($) $ in Millions	Jul. 19, 2018	Sep. 30, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Implied goodwill		$ 2,246	$ 0
RSP Permian [Member]
Business Acquisition [Line Items]
Total purchase price	$ 7,549
Accounts payable - trade	25
Accrued drilling costs	131
Current derivative instruments	10
Other current liabilities	130
Long-term debt	1,758
Deferred income taxes	518
Asset retirement obligations	16
Noncurrent derivative instruments	5
Total liabilities assumed	2,593
Accounts receivable	213
Noncurrent derivative instruments	36
Other current assets	21
Proved oil and natural gas properties	4,052
Unproved oil and natural gas properties	3,565
Other property and equipment	5
Noncurrent derivative instruments	2
Other long-term assets	2
Implied goodwill	2,246
Total assets acquired	$ 10,142

RSP Permian Acquisition (Schedu

RSP Permian Acquisition (Schedule Of Pro Forma Information) (Details) - RSP Permian [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition, Pro Forma Information [Abstract]
Operating revenues	$ 1,243	$ 829	$ 3,741	$ 2,361
Net income (loss)	$ (133)	$ (94)	$ 1,039	$ 780
Earnings per share, Basic net income (loss)	$ (0.67)	$ (0.47)	$ 5.19	$ 3.92
Earnings per share, Diluted net income (loss)	$ (0.67)	$ (0.47)	$ 5.19	$ 3.91

Other acquisitions, divestitu_2

Other acquisitions, divestitures and nonmonetary transactions (Narrative) (Details) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)MBoe / da	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)MBoe / da	Sep. 30, 2017USD ($)shares	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Pre-tax gain	$ (5)	$ 13	$ 719	$ 667
Common stock issued in business combination			$ 7,549	291
February 2018 Acquisition and Divestiture [Member]
Business Acquisition [Line Items]
Daily energy production capacity (MBoepd) | MBoe / d	5		5
Net acreage | a	21,000		21,000
Pre-tax gain			$ 575
Fair value of acquired assets			755
Book value of divested assets			180
Other property and equipment	$ 245		245
Other long-term assets	480		480
Fair value of other acquired assets	$ 30		$ 30
February 2018 Acquisition and Divestiture [Member] | Disposal Group Disposed Of By Means Other Than Sale Not Discontinued Operations Exchange [Member]
Business Acquisition [Line Items]
Net acreage | a	34,000		34,000
February 2018 Acquisition and Divestiture [Member] | Disposal Group Disposed Of By Means Other Than Sale Not Discontinued Operations Exchange [Member] | Nothern Delaware Basin [Member]
Business Acquisition [Line Items]
Daily energy production capacity (MBoepd) | MBoe / d	3		3
Net acreage | a	32,000		32,000
Southern Delaware Basin [Member]
Business Acquisition [Line Items]
Net acreage | a	20,000		20,000
Net proceeds from asset divestiture			$ 280
Pre-tax gain			134
Nonmonetary Transactions [Member]
Business Acquisition [Line Items]
Pre-tax gain			$ 15
Midland Basin [Member]
Business Acquisition [Line Items]
Total cash consideration paid for acquisition				595
Northern Delaware Basin [Member]
Business Acquisition [Line Items]
Total cash consideration paid for acquisition				$ 160
Common stock issued in business combination, shares | shares				2.2
Common stock issued in business combination				$ 291
Alpha Crude Connector [Member]
Business Acquisition [Line Items]
Proceeds from sale of oil and gas property and equipment				801
Pre-tax gain				$ 655
Total equity method investment					$ 129

Incentive Plans (Narrative) (De

Incentive Plans (Narrative) (Details)	9 Months Ended
	Sep. 30, 2018
Performance Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Minimum [Member] | Restricted Stock Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	1 year
Maximum [Member] | Restricted Stock Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	8 years

Incentive Plans (Summary Of Sto

Incentive Plans (Summary Of Stock-Based Award Activity) (Details) - $ / shares		Jul. 20, 2018	Sep. 30, 2018
Restricted Stock Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding			1,149,246
Awards granted	[1],[2]		645,584
Awards cancelled / forfeited			(64,379)
Lapse of restrictions			(368,665)
Outstanding			1,361,786
Weighted average grant date fair value per share/unit			$ 137.89
Restricted Stock Shares [Member] | RSP Permian [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted		167,122
Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding			247,647
Awards granted	[3]		111,490
Awards cancelled / forfeited			0
Lapse of restrictions			0
Outstanding			359,137
Weighted average grant date fair value per share/unit			$ 216.03
[1]	Includes 167,122 restricted stock shares granted to certain RSP employees on July 20, 2018.
[2]	Weighted average grant date fair value per share is $137.89
[3]	Weighted average grant date fair value per unit is $216.03

Incentive Plans (Summary For Fu

Incentive Plans (Summary For Future Stock-Based Compensation Expense) (Details) $ in Millions	Sep. 30, 2018USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Remaining 2,018	$ 25
2,019	63
2,020	33
2,021	10
Thereafter	1
Total	$ 132

Disclosures About Fair Value _3

Disclosures About Fair Value Measurements (Carrying Amounts And Fair Values Of The Company's Financial Instruments) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2018	Dec. 31, 2017
Fair Value Disclosure Item Amounts [Domain] | 4.375% unsecured senior notes due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Face amount of debt		$ 600
Interest rate		4.375%
Debt maturity year		2,025
Fair Value Disclosure Item Amounts [Domain] | 3.75% unsecured senior notes due 2027 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Face amount of debt		$ 1,000
Interest rate		3.75%
Debt maturity year		2,027
Fair Value Disclosure Item Amounts [Domain] | 4.3% unsecured senior notes due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Face amount of debt		$ 1,000
Interest rate		4.30%
Debt maturity year		2,028
Fair Value Disclosure Item Amounts [Domain] | 4.875% unsecured senior notes due 2047 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Face amount of debt		$ 800
Interest rate		4.875%
Debt maturity year		2,047
Fair Value Disclosure Item Amounts [Domain] | 4.85% unsecured senior notes due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Face amount of debt		$ 600
Interest rate		4.85%
Debt maturity year		2,048
Derivative instruments, Liabilities		$ 910	$ 379
Credit facility		193	322
4.375% unsecured senior notes due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		605	624
Face amount of debt	[1]	$ 600	600
Interest rate		4.375%
Debt maturity year		2,025
3.75% unsecured senior notes due 2027 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		$ 959	1,012
Face amount of debt		$ 1,000	1,000
Interest rate		3.75%
Debt maturity year		2,027
4.3% unsecured senior notes due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		$ 996	0
Face amount of debt		$ 1,000	0
Interest rate		4.30%
Debt maturity year		2,028
4.875% unsecured senior notes due 2047 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		$ 814	874
Face amount of debt		$ 800	800
Interest rate		4.875%
Debt maturity year		2,047
4.85% unsecured senior notes due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		$ 606	0
Face amount of debt		$ 600	0
Interest rate		4.85%
Debt maturity year		2,048
Carrying Reported Amount Fair Value Disclosure [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative instruments, Liabilities		$ 910	379
Credit facility		193	322
Carrying Reported Amount Fair Value Disclosure [Member] | 4.375% unsecured senior notes due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes	[2]	593	593
Carrying Reported Amount Fair Value Disclosure [Member] | 3.75% unsecured senior notes due 2027 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes	[2]	988	987
Carrying Reported Amount Fair Value Disclosure [Member] | 4.3% unsecured senior notes due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes	[2]	988	0
Carrying Reported Amount Fair Value Disclosure [Member] | 4.875% unsecured senior notes due 2047 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes	[2]	789	789
Carrying Reported Amount Fair Value Disclosure [Member] | 4.85% unsecured senior notes due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes	[2]	$ 592	$ 0
[1]	For each of the twelve month periods beginning on January 15, 2020, 2021, 2022, 2023 and thereafter, these notes are callable at 103.281%, 102.188%, 101.094% and 100%, respectively.
[2]	The carrying value includes associated deferred loan costs and any discount.

Disclosures About Fair Value _4

Disclosures About Fair Value Measurements (Company's Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - Commodity Derivative Price Swap Contracts [Member] - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Derivative Asset Current [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 207	$ 13
Derivative Asset, Fair Value, Gross Liability	(207)	(13)
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	0	0
Derivative Asset Noncurrent [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Asset, Fair Value, Gross Asset	17	1
Derivative Asset, Fair Value, Gross Liability	(17)	(1)
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	0	0
Derivative Liability Current [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Liability, Fair Value, Gross Liability	(754)	(290)
Derivative Liability, Fair Value, Gross Asset	207	13
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	(547)	(277)
Derivative Liability Noncurrent [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Liability, Fair Value, Gross Liability	(380)	(103)
Derivative Liability, Fair Value, Gross Asset	17	1
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	(363)	(102)
Fair Value Inputs Level 1 [Member] | Derivative Asset Current [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Fair Value Inputs Level 1 [Member] | Derivative Asset Noncurrent [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Fair Value Inputs Level 1 [Member] | Derivative Liability Current [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Liability, Fair Value, Gross Liability	0	0
Fair Value Inputs Level 1 [Member] | Derivative Liability Noncurrent [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Liability, Fair Value, Gross Liability	0	0
Fair Value Inputs Level 2 [Member] | Derivative Asset Current [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Asset, Fair Value, Gross Asset	207	13
Fair Value Inputs Level 2 [Member] | Derivative Asset Noncurrent [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Asset, Fair Value, Gross Asset	17	1
Fair Value Inputs Level 2 [Member] | Derivative Liability Current [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Liability, Fair Value, Gross Liability	(754)	(290)
Fair Value Inputs Level 2 [Member] | Derivative Liability Noncurrent [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Liability, Fair Value, Gross Liability	(380)	(103)
Fair Value Inputs Level 3 [Member] | Derivative Asset Current [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Fair Value Inputs Level 3 [Member] | Derivative Asset Noncurrent [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Fair Value Inputs Level 3 [Member] | Derivative Liability Current [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Liability, Fair Value, Gross Liability	0	0
Fair Value Inputs Level 3 [Member] | Derivative Liability Noncurrent [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 0	$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments (Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments [Line Items]
Net settlements received from (paid on) derivatives	$ (44)	$ 30	$ (238)	$ 126
Gain (loss) on derivatives	(625)	(206)	(793)	289
Oil Commodity Derivative [Member]
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments [Line Items]
Net settlements received from (paid on) derivatives	(46)	28	(245)	129
Gain (loss) on derivatives	(626)	(205)	(787)	260
Natural Gas Commodity Derivative [Member]
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments [Line Items]
Net settlements received from (paid on) derivatives	2	2	7	(3)
Gain (loss) on derivatives	$ 1	$ (1)	$ (6)	$ 29

Derivative Financial Instrume_4

Derivative Financial Instruments (Outstanding Commodity Derivative Contracts) (Details)		3 Months Ended									12 Months Ended
		Dec. 31, 2020MMBTUbbl$ / bbl$ / MMBTU	Sep. 30, 2020MMBTUbbl$ / bbl$ / MMBTU	Jun. 30, 2020MMBTUbbl$ / bbl$ / MMBTU	Mar. 31, 2020MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2019MMBTUbbl$ / bbl$ / MMBTU	Sep. 30, 2019MMBTUbbl$ / bbl$ / MMBTU	Jun. 30, 2019MMBTUbbl$ / bbl$ / MMBTU	Mar. 31, 2019MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2018MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2020MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2019MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2018MMBTUbbl$ / bbl$ / MMBTU
Oil Price Swaps [Member] | Minimum [Member]
Derivative [Line Items]
Volume - Current Year | bbl	[1]									11,902,007			11,902,007
Price - Current Year	[1]									56.86			56.86
Volume - Year One | bbl	[1]					8,932,000	9,514,000	10,289,750	11,272,250			40,008,000
Price - Year One	[1]					55.44	55.61	55.83	56.14			55.78
Volume - Year Two | bbl	[1]	5,814,000	6,049,000	6,344,500	6,680,500						24,888,000
Price - Year Two	[1]	57.99	58.02	58.08	58.11						58.05
Oil Basis Swaps [Member] | Minimum [Member]
Derivative [Line Items]
Volume - Current Year | bbl	[2]									10,517,000			10,517,000
Price - Current Year	[2]									(0.77)			(0.77)
Volume - Year One | bbl	[2]					10,533,000	10,994,000	11,419,500	11,730,000			44,676,500
Price - Year One	[2]					(3.07)	(2.97)	(3.02)	(2.93)			(2.99)
Volume - Year Two | bbl	[2]	8,740,000	8,740,000	8,645,000	8,645,000						34,770,000
Price - Year Two	[2]	(0.82)	(0.82)	(0.82)	(0.82)						(0.82)
Natural Gas Price Swaps [Member] | Minimum [Member]
Derivative [Line Items]
Volume - Current Year | MMBTU	[3]									18,458,000			18,458,000
Price - Current Year | $ / MMBTU	[3]									3			3
Volume - Year One | MMBTU	[3]					7,089,535	7,178,537	7,231,387	7,291,533			28,790,992
Price - Year One | $ / MMBTU	[3]					2.81	2.81	2.81	2.82			2.81
Volume - Year Two | MMBTU	[3]	3,128,000	3,128,000	3,276,000	3,276,000						12,808,000
Price - Year Two | $ / MMBTU	[3]	2.7	2.7	2.7	2.7						2.7
Oil Three-Way Collars [Member]
Derivative [Line Items]
Volume - Current Year | bbl	[1]									1,227,000			1,227,000
Short Put Price - Current Year	[1]									38			38
Oil Three-Way Collars [Member] | Minimum [Member]
Derivative [Line Items]
Price - Current Year	[1]									48			48
Oil Three-Way Collars [Member] | Maximum [Member]
Derivative [Line Items]
Price - Current Year	[1]									60.96			60.96
Oil Costless Collars Swaps [Member]
Derivative [Line Items]
Volume - Year One | bbl	[1]					1,058,000	1,135,000	1,213,250	1,335,250			4,741,500
Oil Costless Collars Swaps [Member] | Minimum [Member]
Derivative [Line Items]
Volume - Current Year | bbl	[1]									1,058,000			1,058,000
Price - Current Year	[1]									46.52			46.52
Price - Year One	[1]					55.43	55.74	56.06	56.46			55.96
Oil Costless Collars Swaps [Member] | Maximum [Member]
Derivative [Line Items]
Price - Current Year	[1]									60.11			60.11
Price - Year One	[1]					62.95	63.47	64	64.67			63.83
[1]	The oil derivative contracts are settled based on the NYMEX – West Texas Intermediate (“WTI”) monthly average futures price.
[2]	The basis differential price is between Midland – WTI and Cushing – WTI. The majority of these contracts are settled on a calendar-month basis, while certain contracts assumed in connection with the RSP Acquisition are settled on a trading-month basis.
[3]	The natural gas derivative contracts are settled based on the NYMEX – Henry Hub last trading day futures price.

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ in Millions	Jul. 02, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Debt Disclosure [Line Items]
Make-whole premium				$ 83	$ 63
Cash payments for interest		$ 16	$ 73	76	138
Payment on line of credit				$ 2,537	$ 105
Credit facility due 2022 [Member]
Debt Disclosure [Line Items]
Line of credit maturity date				May 9, 2022
Aggregate lender commitments		2,000		$ 2,000
Credit facility due 2022 [Member] | RSP Permian [Member]
Debt Disclosure [Line Items]
Cash payments for interest	$ 1
Payment on line of credit	$ 540
4.3% and 4.85% unsecured senior notes [Member]
Debt Disclosure [Line Items]
Debt issuance date	Jul. 2, 2018
Face amount of debt	$ 1,600
Proceeds from debt, net of issuance costs	1,579
4.3% unsecured senior notes due 2028 [Member]
Debt Disclosure [Line Items]
Face amount of debt		$ 1,000		$ 1,000		$ 0
Interest rate		4.30%		4.30%
Debt maturity year				2,028
4.85% unsecured senior notes due 2048 [Member]
Debt Disclosure [Line Items]
Face amount of debt	$ 600
Interest rate	4.85%
Debt maturity year	2,048
Debt instument percent of par value issued	99.74%
6.625% RSP unsecured senior notes due 2022 [Member]
Debt Disclosure [Line Items]
Interest rate	6.625%
Debt maturity year				2,022
Face amount of notes repurchased	$ 700
Make-whole premium		$ 35
6.625% RSP unsecured senior notes due 2022 [Member] | RSP Permian [Member]
Debt Disclosure [Line Items]
Face amount of notes repurchased	1,200
Cash payments for interest	$ 14
5.25% RSP unsecured senior notes due 2025 [Member]
Debt Disclosure [Line Items]
Interest rate	5.25%
Debt maturity year				2,025
Face amount of notes repurchased	$ 450
Make-whole premium		$ 33

Debt (Summary Of Long-Term Debt

Debt (Summary Of Long-Term Debt) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Credit facility		$ 193	$ 322
Unamortized original issue (premium) discount		(10)	(6)
Senior notes issuance costs, net		(40)	(25)
Less: current portion		0	0
Total long-term debt		4,143	2,691
4.375% unsecured senior notes due 2025 [Member]
Debt Instrument [Line Items]
Face amount of debt	[1]	$ 600	600
Interest rate		4.375%
Debt maturity year		2,025
4.375% unsecured senior notes due 2025 [Member] | January 15, 2020 [Member]
Debt Instrument [Line Items]
Interest rate		103.281%
4.375% unsecured senior notes due 2025 [Member] | January 15, 2021 [Member]
Debt Instrument [Line Items]
Interest rate		102.188%
4.375% unsecured senior notes due 2025 [Member] | January 15, 2022 [Member]
Debt Instrument [Line Items]
Interest rate		101.094%
4.375% unsecured senior notes due 2025 [Member] | January 15, 2023 [Member]
Debt Instrument [Line Items]
Interest rate		100.00%
3.75% unsecured senior notes due 2027 [Member]
Debt Instrument [Line Items]
Face amount of debt		$ 1,000	1,000
Interest rate		3.75%
Debt maturity year		2,027
4.3% unsecured senior notes due 2028 [Member]
Debt Instrument [Line Items]
Face amount of debt		$ 1,000	0
Interest rate		4.30%
Debt maturity year		2,028
4.875% unsecured senior notes due 2047 [Member]
Debt Instrument [Line Items]
Face amount of debt		$ 800	800
Interest rate		4.875%
Debt maturity year		2,047
4.85% unsecured senior notes due 2028 [Member]
Debt Instrument [Line Items]
Face amount of debt		$ 600	$ 0
Interest rate		4.85%
Debt maturity year		2,048
[1]	For each of the twelve month periods beginning on January 15, 2020, 2021, 2022, 2023 and thereafter, these notes are callable at 103.281%, 102.188%, 101.094% and 100%, respectively.

Debt (Summary Of Interest Expen

Debt (Summary Of Interest Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disclosure Debt Summary Of Interest Expense [Abstract]
Cash payments for interest	$ 16	$ 73	$ 76	$ 138
Non-cash interest	1	1	4	5
Net changes in accruals	31	(35)	28	(25)
Interest costs incurred	48	39	108	118
Less: capitalized interest	(2)	0	(5)	0
Total interest expense	$ 46	$ 39	$ 103	$ 118

Commitments And Contingencies_2

Commitments And Contingencies (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)bbl / d	Sep. 30, 2017USD ($)	Jul. 19, 2018USD ($)	Dec. 31, 2017USD ($)
Commitments [Line Items]
Environmental liability accrued	$ 32		$ 32			$ 3
Operating leases, lease payments	$ 3	$ 2	$ 9	$ 7
Throughput Sales Commitment [Member]
Commitments [Line Items]
Daily production commitment (barrels per day) | bbl / d			7,000
RSP Permian [Member]
Commitments [Line Items]
Environmental liabilities acquired					$ 22

Commitments And Contingencies_3

Commitments And Contingencies (Future Commitments) (Details) $ in Millions	Sep. 30, 2018USD ($)
Disclosure Commitments And Contingencies Future Commitments [Abstract]
Remaining 2,018	$ 66
2,019	79
2,020	80
2,021	76
2,022	36
2,023	33
Thereafter	129
Total	$ 499

Commitments And Contingencies_4

Commitments And Contingencies (Future Minimum Lease Commitments Under Non-Cancellable Operating Leases) (Details) $ in Millions	Sep. 30, 2018USD ($)
Disclosure Commitments And Contingencies Future Minimum Lease Commitments Under Non Cancellable Operating Leases [Abstract]
Remaining 2,018	$ 3
2,019	13
2,020	12
2,021	9
2,022	2
2,023	0
Thereafter	1
Total	$ 40

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Jul. 19, 2018
Income Tax Disclosure [Line Items]
Effective tax rate	26.00%	37.00%	23.00%	37.00%
Corporate income tax rate			21.00%		35.00%
Excess tax benefit (deficiency)			$ 3	$ 6
Provisional change in deferred tax assets and liabilities					$ 398
RSP Permian [Member]
Income Tax Disclosure [Line Items]
Benefit from change in state tax rate	$ 7
Increase in unrecognized tax benefits	$ 20
Deferred income tax liabilities acquired						$ 518

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Ownership interest in partnership	3.50%		3.50%
Partnership (Director Ownership Interest) [Member]
Related Party Transaction [Line Items]
Amounts paid	$ 2	$ 1	$ 6	$ 5

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details)	9 Months Ended
	Sep. 30, 2018
Disclosure Earnings Per Share Narrative [Abstract]
Performance unit awards vesting period	36 months
Minimum Payout Value on Performance Units	0.00%
Maximum Payout Value on Performance Units	300.00%

Earnings Per Share (Reconciliat

Earnings Per Share (Reconciliation Of Earnings Attributable To Common Shares Basic And Diluted) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss)		$ (199)	$ (113)	$ 773	$ 689
Participating basic earnings	[1]	0	0	(6)	(5)
Basic earnings attributable to common stockholders		(199)	(113)	767	684
Reallocation of participating earnings		0	0	0	0
Diluted earnings attributable to common stockholders		$ (199)	$ (113)	$ 767	$ 684
[1]	Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends or distributions with the common equity holders of the Company. Participating earnings represent the distributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so.

Earnings Per Share (Reconcili_2

Earnings Per Share (Reconciliation Of The Weighted Average Common Shares Outstanding) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reconciliation Of Basic Weighted Average Common Shares Outstanding To Diluted Weighted Average Common Shares Outstanding [Line Items]
Basic	188,953	147,557	161,605	147,233
Diluted	189,266	147,557	161,947	147,786
Stock Options [Member]
Reconciliation Of Basic Weighted Average Common Shares Outstanding To Diluted Weighted Average Common Shares Outstanding [Line Items]
Dilutive shares	0	0	0	4
Performance Units [Member]
Reconciliation Of Basic Weighted Average Common Shares Outstanding To Diluted Weighted Average Common Shares Outstanding [Line Items]
Dilutive shares	313	0	342	549

Earnings Per Share (Summary Of

Earnings Per Share (Summary Of The Common Stock Options And Restricted Stock) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Performance Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive common shares	111	0	110	107

Subsidiary Guarantors (Condense

Subsidiary Guarantors (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Assets
Accounts receivable - related parties	$ 0	$ 0
Other current assets	1,028	592
Oil and natural gas properties, net	21,618	12,807
Property and equipment, net	277	234
Investment in subsidiaries	0	0
Goodwill	2,246	0
Other long-term assets	41	99
Total assets	25,210	13,732
LIABILITIES AND EQUITY
Accounts payable - related parties	0	0
Other current liabilities	1,876	1,165
Long-term debt	4,143	2,691
Other long-term liabilities	1,959	961
Equity	17,232	8,915
Total liabilities and stockholders' equity	25,210	13,732
Consolidation Eliminations [Member]
Assets
Accounts receivable - related parties	(1,791)	(8,167)
Other current assets	0	0
Oil and natural gas properties, net	0	0
Property and equipment, net	0	0
Investment in subsidiaries	(5,097)	(3,202)
Goodwill	0
Other long-term assets	0	0
Total assets	(6,888)	(11,369)
LIABILITIES AND EQUITY
Accounts payable - related parties	(1,791)	(8,167)
Other current liabilities	0	0
Long-term debt	0	0
Other long-term liabilities	0	0
Equity	(5,097)	(3,202)
Total liabilities and stockholders' equity	(6,888)	(11,369)
Parent Company [Member] | Reportable Legal Entities [Member]
Assets
Accounts receivable - related parties	9,981	8,836
Other current assets	21	6
Oil and natural gas properties, net	0	0
Property and equipment, net	0	0
Investment in subsidiaries	5,097	3,202
Goodwill	0
Other long-term assets	17	23
Total assets	15,116	12,067
LIABILITIES AND EQUITY
Accounts payable - related parties	(8,190)	(669)
Other current liabilities	657	341
Long-term debt	4,143	2,691
Other long-term liabilities	1,274	789
Equity	17,232	8,915
Total liabilities and stockholders' equity	15,116	12,067
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Assets
Accounts receivable - related parties	(8,190)	(669)
Other current assets	1,007	576
Oil and natural gas properties, net	21,601	12,192
Property and equipment, net	277	234
Investment in subsidiaries	0	0
Goodwill	2,246
Other long-term assets	24	76
Total assets	16,965	12,409
LIABILITIES AND EQUITY
Accounts payable - related parties	9,964	8,223
Other current liabilities	1,219	821
Long-term debt	0	0
Other long-term liabilities	685	166
Equity	5,097	3,199
Total liabilities and stockholders' equity	16,965	12,409
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Assets
Accounts receivable - related parties	0	0
Other current assets	0	10
Oil and natural gas properties, net	17	615
Property and equipment, net	0	0
Investment in subsidiaries	0	0
Goodwill	0
Other long-term assets	0	0
Total assets	17	625
LIABILITIES AND EQUITY
Accounts payable - related parties	17	613
Other current liabilities	0	3
Long-term debt	0	0
Other long-term liabilities	0	6
Equity	0	3
Total liabilities and stockholders' equity	$ 17	$ 625

Subsidiary Guarantors (Conden_2

Subsidiary Guarantors (Condensed Consolidating Statement Of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Financial Statements Captions [Line Items]
Operating revenues	$ 1,192	$ 627	$ 3,084	$ 1,806
Total operating costs and expenses	(1,417)	(704)	(2,091)	(555)
Income (loss) from operations	(225)	(77)	993	1,251
Interest expense	(46)	(39)	(103)	(118)
Loss on extinguishment of debt	0	(65)	0	(66)
Other, net	3	2	108	20
Income (loss) before income taxes	(268)	(179)	998	1,087
Income tax (expense) benefit	69	66	(225)	(398)
Net income (loss)	(199)	(113)	773	689
Consolidation Eliminations [Member]
Condensed Financial Statements Captions [Line Items]
Operating revenues	0	0	0	0
Total operating costs and expenses	0	0	0	0
Income (loss) from operations	0	0	0	0
Interest expense	0	0	0	0
Loss on extinguishment of debt		0		0
Other, net	(404)	(132)	(1,895)	(982)
Income (loss) before income taxes	(404)	(132)	(1,895)	(982)
Income tax (expense) benefit	0	0	0	0
Net income (loss)	(404)	(132)	(1,895)	(982)
Parent Company [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements Captions [Line Items]
Operating revenues	0	0	0	0
Total operating costs and expenses	(626)	(207)	(794)	288
Income (loss) from operations	(626)	(207)	(794)	288
Interest expense	(46)	(39)	(103)	(117)
Loss on extinguishment of debt		(65)		(66)
Other, net	404	132	1,895	982
Income (loss) before income taxes	(268)	(179)	998	1,087
Income tax (expense) benefit	69	66	(225)	(398)
Net income (loss)	(199)	(113)	773	689
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements Captions [Line Items]
Operating revenues	1,192	619	3,079	1,798
Total operating costs and expenses	(791)	(491)	(1,294)	(837)
Income (loss) from operations	401	128	1,785	961
Interest expense	0	0	0	(1)
Loss on extinguishment of debt		0		0
Other, net	3	2	108	20
Income (loss) before income taxes	404	130	1,893	980
Income tax (expense) benefit	0	0	0	0
Net income (loss)	404	130	1,893	980
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements Captions [Line Items]
Operating revenues	0	8	5	8
Total operating costs and expenses	0	(6)	(3)	(6)
Income (loss) from operations	0	2	2	2
Interest expense	0	0	0	0
Loss on extinguishment of debt		0		0
Other, net	0	0	0	0
Income (loss) before income taxes	0	2	2	2
Income tax (expense) benefit	0	0	0	0
Net income (loss)	$ 0	$ 2	$ 2	$ 2

Subsidiary Guarantors (Conden_3

Subsidiary Guarantors (Condensed Consolidating Statement Of Cash Flows) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	$ 1,861	$ 1,185
Net cash flows provided by (used in) investing activities	(1,422)	(1,207)
Net cash flows provided by (used in) financing activities	(415)	(31)
Net increase (decrease) in cash and cash equivalents	24	(53)
Cash and cash equivalents at beginning of period	0	53
Cash and cash equivalents at end of period	24	0
Consolidation Eliminations [Member]
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	0	0
Net cash flows provided by (used in) investing activities	0	0
Net cash flows provided by (used in) financing activities	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Parent Company [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	386	99
Net cash flows provided by (used in) investing activities	0	0
Net cash flows provided by (used in) financing activities	(386)	(99)
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	1,475	1,084
Net cash flows provided by (used in) investing activities	(1,422)	(592)
Net cash flows provided by (used in) financing activities	(29)	(545)
Net increase (decrease) in cash and cash equivalents	24	(53)
Cash and cash equivalents at beginning of period	0	53
Cash and cash equivalents at end of period	24	0
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	0	2
Net cash flows provided by (used in) investing activities	0	(615)
Net cash flows provided by (used in) financing activities	0	613
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0

Subsequent Events (New Commodit

Subsequent Events (New Commodity Derivative Contracts) (Details) - Oil Price Swaps [Member] - Minimum [Member]		3 Months Ended									12 Months Ended
		Dec. 31, 2020bbl$ / bbl	Sep. 30, 2020bbl$ / bbl	Jun. 30, 2020bbl$ / bbl	Mar. 31, 2020bbl$ / bbl	Dec. 31, 2019bbl$ / bbl	Sep. 30, 2019bbl$ / bbl	Jun. 30, 2019bbl$ / bbl	Mar. 31, 2019bbl$ / bbl	Dec. 31, 2018bbl$ / bbl	Dec. 31, 2020bbl$ / bbl	Dec. 31, 2019bbl$ / bbl	Dec. 31, 2018bbl$ / bbl
Subsequent Event [Line Items]
Volume - Current Year | bbl	[1]									11,902,007			11,902,007
Price - Current Year | $ / bbl	[1]									56.86			56.86
Volume - Year One | bbl	[1]					8,932,000	9,514,000	10,289,750	11,272,250			40,008,000
Price - Year One | $ / bbl	[1]					55.44	55.61	55.83	56.14			55.78
Volume - Year Two | bbl	[1]	5,814,000	6,049,000	6,344,500	6,680,500						24,888,000
Price - Year Two | $ / bbl	[1]	57.99	58.02	58.08	58.11						58.05
Subsequent Event [Member]
Subsequent Event [Line Items]
Volume - Year One | bbl	[2]					552,000	552,000	546,000	720,000			2,370,000
Price - Year One | $ / bbl	[2]					67.11	67.11	67.11	67.15			67.12
Volume - Year Two | bbl	[2]	368,000	368,000	455,000	455,000						1,646,000
Price - Year Two | $ / bbl	[2]	64.18	64.18	64.37	64.37						64.28
[1]	The oil derivative contracts are settled based on the NYMEX – West Texas Intermediate (“WTI”) monthly average futures price.
[2]	The oil derivative contracts are settled based on the NYMEX – WTI monthly average futures price.

Supplementary Information (Capi

Supplementary Information (Capitalized Costs) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]
Proved	$ 24,361	$ 18,565
Unproved	6,619	2,702
Less: accumulated depletion	(9,362)	(8,460)
Net capitalized costs for oil and natural gas properties	$ 21,618	12,807	[1]
Disposal Group Held-for-sale Not Discontinued Operations [Member]
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]
Net capitalized costs for oil and natural gas properties		$ 135
[1]	Approximately $135 million of the balance at December 31, 2017 relates to assets held for sale that were disposed of during January 2018.

Supplementary Information (Cost

Supplementary Information (Costs Incurred For Oil And Natural Gas Producing Activities) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disclosure Supplementary Information Costs Incurred For Oil And Natural Gas Producing Activities [Abstract]
Proved	$ 4,126	$ 162	$ 4,126	$ 301
Unproved	3,578	472	3,596	865
Exploration	481	252	1,059	725
Development	280	175	653	478
Total costs incurred for oil and natural gas properties	$ 8,465	$ 1,061	$ 9,434	$ 2,369