Concho Resources (CXO) 10-Q 1 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 30, 2019
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	1-33615
Entity Registrant Name	CONCHO RESOURCES INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0818600
Entity Address, Address Line One	One Concho Center
Entity Address, Address Line Two	600 West Illinois Avenue
Entity Address, City or Town	Midland
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	79701
City Area Code	(432)
Local Phone Number	683-7443
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	CXO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		201,078,813
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001358071
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets Una

Consolidated Balance Sheets Unaudited - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 0	$ 0
Accounts receivable, net of allowance for doubtful accounts:
Oil and natural gas	460	466
Joint operations and other	301	365
Inventory	33	35
Derivative instruments	12	484
Prepaid costs and other	54	59
Total current assets	860	1,409
Property and equipment:
Oil and natural gas properties, successful efforts method	33,321	31,706
Accumulated depletion and depreciation	(11,479)	(9,701)
Total oil and natural gas properties, net	21,842	22,005
Other property and equipment, net	374	308
Total property and equipment, net	22,216	22,313
Deferred loan costs, net	9	10
Goodwill	2,222	2,224
Intangible assets, net	18	19
Noncurrent derivative instruments	29	211
Other assets	124	108
Total assets	25,478	26,294
Current liabilities:
Accounts payable - trade	55	50
Book overdrafts	143	159
Revenue payable	255	253
Accrued drilling costs	506	574
Derivative instruments	126	0
Other current liabilities	318	320
Total current liabilities	1,403	1,356
Long-term debt	4,350	4,194
Deferred income taxes	1,561	1,808
Noncurrent derivative instruments	12	0
Asset retirement obligations and other long-term liabilities	193	168
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock, $0.001 par value; 300,000,000 authorized; 201,764,616 and 201,288,884 shares issued at June 30, 2019 and December 31, 2018, respectively	0	0
Additional paid-in capital	14,820	14,773
Retained earnings	3,284	4,126
Treasury stock, at cost; 1,166,326 and 1,031,655 shares at June 30, 2019 and December 31, 2018, respectively	(145)	(131)
Total stockholders’ equity	17,959	18,768
Total liabilities and stockholders’ equity	$ 25,478	$ 26,294

Consolidated Balance Sheets U_2

Consolidated Balance Sheets Unaudited (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	201,764,616	201,288,884
Treasury shares	1,166,326	1,031,655

Consolidated Statements of Oper

Consolidated Statements of Operations Unaudited - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating revenues:
Total operating revenues	$ 1,127	$ 945	$ 2,231	$ 1,892
Operating costs and expenses:
Production and ad valorem taxes	84	70	170	140
Exploration and abandonments	17	8	64	26
Depreciation, depletion and amortization	478	310	943	627
Accretion of discount on asset retirement obligations	2	2	5	4
Impairments of long-lived assets	868	0	868	0
General and administrative (including non-cash stock-based compensation of $23 and $18 for the three months ended June 30, 2019 and 2018, respectively, and $47 and $35 for the six months ended June 30, 2019 and 2018, respectively)	88	72	179	137
(Gain) loss on derivatives	(217)	133	842	168
(Gain) loss on disposition of assets, net	1	(1)	0	(724)
Transaction costs	1	9	1	16
Total operating costs and expenses	1,532	742	3,482	674
Income (loss) from operations	(405)	203	(1,251)	1,218
Other income (expense):
Interest expense	(48)	(27)	(95)	(57)
Other, net	303	1	307	105
Total other income (expense)	255	(26)	212	48
Income (loss) before income taxes	(150)	177	(1,039)	1,266
Income tax (expense) benefit	53	(40)	247	(294)
Net income (loss)	$ (97)	$ 137	$ (792)	$ 972
Earnings per share:
Basic net income (loss) (in dollars per share)	$ (0.48)	$ 0.92	$ (3.98)	$ 6.52
Diluted net income (loss) (in dollars per share)	$ (0.48)	$ 0.92	$ (3.98)	$ 6.50
Oil
Operating revenues:
Total operating revenues	$ 1,049	$ 795	$ 1,984	$ 1,588
Natural Gas
Operating revenues:
Total operating revenues	78	150	247	304
Oil And Natural Gas Production
Operating costs and expenses:
Operating costs and expenses	188	130	362	260
Gathering, Processing and Transportation
Operating costs and expenses:
Operating costs and expenses	$ 22	$ 9	$ 48	$ 20

Consolidated Statements of Op_2

Consolidated Statements of Operations Unaudited (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Non-cash stock-based compensation	$ 23	$ 18	$ 47	$ 35

Consolidated Statements of Stoc

Consolidated Statements of Stockholders Equity Unaudited - USD ($) shares in Thousands, $ in Millions	Total	Common Stock Issued	Additional Paid-in Capital	Retained Earnings	Treasury Stock
Balance (in shares) at Dec. 31, 2017		149,325			598
Balance at Dec. 31, 2017	$ 8,915	$ 0	$ 7,142	$ 1,840	$ (67)
Net income (loss)	972			972
Grants of restricted stock (in shares)		447
Performance unit share conversion (in shares)		446
Cancellation of restricted stock (in shares)		(23)
Stock-based compensation	35		35
Purchase of treasury stock	(31)				$ (31)
Purchase of treasury stock (in shares)					215
Balance (in shares) at Jun. 30, 2018		150,195			813
Balance at Jun. 30, 2018	9,891	$ 0	7,177	2,812	$ (98)
Balance (in shares) at Mar. 31, 2018		149,870			800
Balance at Mar. 31, 2018	9,738	$ 0	7,159	2,675	$ (96)
Net income (loss)	137			137
Grants of restricted stock (in shares)		335
Performance unit share conversion (in shares)		0
Cancellation of restricted stock (in shares)		(10)
Stock-based compensation	18		18
Purchase of treasury stock	(2)				$ (2)
Purchase of treasury stock (in shares)					13
Balance (in shares) at Jun. 30, 2018		150,195			813
Balance at Jun. 30, 2018	9,891	$ 0	7,177	2,812	$ (98)
Balance (in shares) at Dec. 31, 2018		201,289			1,032
Balance at Dec. 31, 2018	18,768	$ 0	14,773	4,126	$ (131)
Net income (loss)	(792)			(792)
Common stock dividends	(50)			(50)
Grants of restricted stock (in shares)		261
Performance unit share conversion (in shares)		246
Cancellation of restricted stock (in shares)		(31)
Stock-based compensation	47		47
Purchase of treasury stock	(14)				$ (14)
Purchase of treasury stock (in shares)					134
Balance (in shares) at Jun. 30, 2019		201,765			1,166
Balance at Jun. 30, 2019	17,959	$ 0	14,820	3,284	$ (145)
Balance (in shares) at Mar. 31, 2019		201,755			1,156
Balance at Mar. 31, 2019	18,059	$ 0	14,797	3,406	$ (144)
Net income (loss)	(97)			(97)
Common stock dividends	(25)			(25)
Grants of restricted stock (in shares)		26
Performance unit share conversion (in shares)		0
Cancellation of restricted stock (in shares)		(16)
Stock-based compensation	23		23
Purchase of treasury stock	(1)				$ (1)
Purchase of treasury stock (in shares)					10
Balance (in shares) at Jun. 30, 2019		201,765			1,166
Balance at Jun. 30, 2019	$ 17,959	$ 0	$ 14,820	$ 3,284	$ (145)

Consolidated Statements of St_2

Consolidated Statements of Stockholders Equity Unaudited (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared, amount per share (in dollars per share)	$ 0.125	$ 0.25

Consolidated Statements of Cash

Consolidated Statements of Cash Flows Unaudited - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (792)	$ 972
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	943	627
Accretion of discount on asset retirement obligations	5	4
Impairments of long-lived assets	868	0
Exploration and abandonments	51	14
Non-cash stock-based compensation expense	47	35
Deferred income taxes	(247)	294
Net gain on disposition of assets and other non-operating items	(288)	(724)
(Gain) loss on derivatives	842	168
Net settlements paid on derivatives	(50)	(194)
Other	(10)	(95)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	33	(56)
Prepaid costs and other	4	(22)
Inventory	1	(3)
Accounts payable	5	5
Revenue payable	5	43
Other current liabilities	(15)	22
Net cash provided by operating activities	1,402	1,090
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and natural gas properties	(1,726)	(941)
Acquisitions of oil and natural gas properties	(14)	(19)
Additions to property, equipment and other assets	(41)	(11)
Proceeds from the disposition of assets	311	261
Direct transaction costs for asset acquisitions and dispositions	(3)	(3)
Distribution from equity method investment	0	148
Net cash used in investing activities	(1,473)	(565)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under credit facility	2,060	1,222
Payments on credit facility	(1,905)	(1,544)
Payments for loan costs	0	(1)
Payment of common stock dividends	(50)	0
Purchases of treasury stock	(14)	(31)
Decrease in book overdrafts	(16)	(116)
Other	(4)	0
Net cash provided by (used in) financing activities	71	(470)
Net increase (decrease) in cash and cash equivalents	0	55
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 55

Organization and nature of oper

Organization and nature of operations	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and nature of operations	Organization and nature of operations Concho Resources Inc. (the “Company”) is a Delaware corporation formed in February 2006. The Company’s principal business is the acquisition, development, exploration and production of oil and natural gas properties primarily located in the Permian Basin of West Texas and Southeast New Mexico.

Basis of presentation and summa

Basis of presentation and summary of significant accounting policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of presentation and summary of significant accounting policies	Basis of presentation and summary of significant accounting policies A complete discussion of the Company’s significant accounting policies is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (“ 2018 Form 10-K”). Principles of consolidation. The consolidated financial statements of the Company include the accounts of the Company and its 100 percent owned subsidiaries. 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 conform to the 2019 presentation. These reclassifications had no impact on net income (loss), total assets, liabilities and stockholders’ equity or total cash flows. Use of estimates in the preparation of financial statements. Preparation of financial statements in conformity with Generally 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 date 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 natural gas reserves. There are numerous uncertainties inherent in the estimation of quantities of proved oil and natural gas reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of proved and 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 income 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, 2018 is derived 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 are 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 condensed notes to the consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s 2018 Form 10-K. 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 other income (expense) on the consolidated statements of operations. The Company recorded net income of $15 million for the three months ended June 30, 2019 , and $15 million and $5 million for the six months ended June 30, 2019 and 2018 , respectively. Until May 2019, the Company owned a 23.75 percent membership interest in Oryx Southern Delaware Holdings, LLC (“Oryx”), an entity that owned and operated Oryx I, a crude oil gathering and transportation system in the Delaware Basin (“Oryx I”). 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 net investment of $54 million included $45 million of Company's contributions made to Oryx and $9 million of equity income. The remaining distribution of approximately $103 million was recorded in other income (expense) on the Company’s consolidated statement of operations. In May 2019, Oryx completed the sale of 100 percent of its equity interests in Oryx I. The Company received $289 million , net of closing costs, in connection with the sale of Oryx I. In April 2019, the Company entered into a midstream joint venture, Beta Holding Company, LLC (“Beta Holding”), to construct a pipeline to gather and transport oil production in the Midland Basin. The Company also entered into a ten-year dedication agreement with an affiliate of Beta Holding to transport the Company’s oil production in the Midland Basin. The Company owns a 50 percent membership interest in Beta Holding. The Company owns a membership interest in WaterBridge Operating LLC (“WaterBridge”), an entity that operates and manages various water infrastructure assets located in the Permian Basin. The Company also has a water management services agreement with WaterBridge. 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 estimable. See Note 9 for additional information. Revenue recognition. The Company recognizes revenues from the sales of oil and natural gas to its customers and presents them disaggregated on the Company’s consolidated statements of operations. All revenues are recognized in the geographical region of the Permian Basin. The Company enters into 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 Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers,” (“ASC 606”). Specifically, revenue is recognized when the Company’s performance 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 transferred when the following criteria are met: (i) transfer of physical 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, revenue 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 June 30, 2019 and December 31, 2018 , the Company had receivables related to contracts with customers of $460 million and $466 million , respectively. 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 using 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 oil sales on the consolidated statements 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 gathering, processing and transportation on the Company’s consolidated statements of operations and are accounted for as costs incurred directly and not netted from transaction price. 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) percentage of proceeds processing contracts, (ii) fee-based contracts or (iii) a hybrid of percentage of proceeds and fee-based contracts. Under 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 products 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 received from the purchaser. To the extent that control transfers downstream of those activities, revenue is recognized on a gross basis, and the related costs are classified in gathering, processing and transportation on 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. The exemption, as described 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 and 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 reductions to general and administrative expense. Such fees totaled $4 million and $5 million for the three months ended June 30, 2019 and 2018 , respectively, and $8 million and $9 million for the six months ended June 30, 2019 and 2018 , respectively. Recently adopted accounting pronouncements. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”), which requires all leases with a term greater than one year to be recognized on the consolidated balance sheet while maintaining similar classifications for finance and operating leases. Lease expense recognition on the consolidated statements of operations was effectively unchanged. The Company adopted this guidance on January 1, 2019. The Company made policy elections not to capitalize short-term leases for all asset classes and not to separate non-lease components from lease components for all asset classes except for vehicles. The Company also did not elect the package of practical expedients that allowed for certain considerations under the original “Leases (Topic 840)” accounting standard (“Topic 840”) to be carried forward upon adoption of ASU 2016-02. In January 2018, the FASB issued ASU No. 2018-01, “Land Easement Practical Expedient for Transition to Topic 842,” which provides an optional practical expedient not to evaluate land easements that existed 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 did not account for any land easements under Topic 840. As this guidance serves as an amendment to ASU 2016-02, the Company elected this practical expedient, which became effective upon the date of 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 election not to 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 the new standard as a cumulative-effect adjustment to the opening balance of retained earnings. The Company elected this transition approach, however the cumulative impact of adoption in the opening balance of retained earnings as of January 1, 2019 was zero . The Company enters into lease agreements to support its operations. These agreements are for leases on assets such as office space, vehicles, field equipment and drilling rigs. Upon adoption, the Company recognized $35 million of right-of-use assets, of which $19 million and $16 million relate to the Company’s operating and finance leases, respectively, and $37 million of associated lease liabilities. See Note 9 for additional disclosures of the Company’s leases. In August 2018, the Securities and Exchange Commission (“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 rule extends the annual disclosure requirement in SEC Regulation S-X, Rule 3-04, of presenting changes in stockholders’ equity to interim periods. Registrants are required to analyze changes in stockholders’ equity in the form of a reconciliation for the current quarter and year-to-date interim periods and comparative periods in the prior year. As a result, the Company updated its presentation of the consolidated statements of stockholders’ equity to include comparative periods in the prior year. In addition, the final rule requires the presentation of dividends per share to be disclosed in the statement of stockholders’ equity. New accounting pronouncements issued but not yet adopted. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“Topic 326”), which replaces the current “incurred loss” methodology for recognizing credit losses with 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 the expected credit losses on financial instruments. In November 2018, the FASB issued ASU No. 2018-19, “Codification Improvements to Topic 326, Financial Instruments–Credit Losses,” which makes amendments to clarify the scope of the guidance, including the amendment clarifying that receivables arising from operating leases are not within the scope of Topic 326. 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 new guidance will have a material impact on its consolidated financial statements. In November 2018, the FASB issued ASU No. 2018-18, “Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606” (“ASU 2018-18”), which, among other things, clarifies that (i) certain transactions between collaborative arrangement participants should be accounted for as revenue under Topic 606 when the collaborative arrangement participant is a customer in the context of a unit of account, (ii) adds unit-of-account guidance in Topic 808 to align with the guidance in Topic 606 and (iii) requires that in a transaction with a collaborative arrangement participant that is not directly related to sales to third parties, presenting the transaction together with revenue recognized under Topic 606 is precluded if the collaborative arrangement participant is not a customer. ASU 2018-18 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years and early adoption is permitted. The amendments in this update should be applied retrospectively to the date of initial application of Topic 606. An entity should recognize the cumulative effect of initially applying the amendments as an adjustment to the opening balance of retained earnings of the later of the earliest annual period presented and the annual period that includes the date of the entity’s initial application of Topic 606. The Company does not believe this new guidance will have a material impact on its consolidated financial statements.

RSP Acquisition

RSP Acquisition	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
RSP Acquisition	RSP Acquisition On July 19, 2018 , the Company completed the acquisition of RSP Permian, Inc. (“RSP”) through an all-stock transaction (the “RSP Acquisition”) for approximately $7.5 billion . Purchase price allocation. The RSP Acquisition has been accounted for as a business combination, using the acquisition method. The following table represents the 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 deductible for income tax purposes. The following table sets forth the Company’s final purchase price allocation: (in millions) Total purchase price $ 7,549 Fair value of liabilities assumed: Accounts payable – trade $ 48 Accrued drilling costs 79 Current derivative instruments 10 Other current liabilities 116 Long-term debt 1,758 Deferred income taxes 515 Asset retirement obligations 20 Noncurrent derivative instruments 5 Total liabilities assumed $ 2,551 Total purchase price plus liabilities assumed $ 10,100 Fair value of assets acquired: Accounts receivable $ 194 Current derivative instruments 36 Other current assets 21 Proved oil and natural gas properties 4,055 Unproved oil and natural gas properties 3,565 Other property and equipment 5 Noncurrent derivative instruments 2 Implied goodwill 2,222 Total assets acquired $ 10,100 Pro forma data. The following unaudited pro forma combined condensed financial data for the three and six months ended June 30, 2018 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 exchange 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 outstanding shares of common stock and equity awards as of the closing date of the RSP Acquisition, (ii) the depletion of RSP’s fair-valued proved oil and natural gas properties and (iii) the estimated tax impacts of the pro forma adjustments. The pro forma results of operations do not include any cost savings or other synergies that may result from the RSP Acquisition. The pro forma financial data does not include the pro forma results of operations for any other acquisitions made during the period. 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. (in millions, except per share amounts) Three Months Ended Six Months Ended Operating revenues $ 1,262 $ 2,488 Net income $ 238 $ 1,169 Earnings per share: Basic net income $ 1.19 $ 5.85 Diluted net income $ 1.19 $ 5.83

Other acquisitions, divestiture

Other acquisitions, divestitures and nonmonetary transactions	6 Months Ended
	Jun. 30, 2019
Acquisitions, Divestitures, And Non-Monetary Transactions [Abstract]
Other acquisitions, divestitures and nonmonetary transactions	Other acquisitions, divestitures and nonmonetary transactions During the six months ended June 30, 2018 , the Company closed the following transactions: February 2018 acquisition and divestiture. In February 2018, the Company closed an acquisition treated as a business combination where it received producing wells along with approximately 21,000 net acres, primarily located in the Midland Basin. As consideration for the non-cash acquisition, the Company divested of certain producing wells and approximately 34,000 net acres located primarily in the northern portion of the Delaware Basin. The business 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 gain of approximately $575 million , included in gain on disposition of assets, net on the Company’s consolidated statement of operations for the six months ended June 30, 2018 . Delaware Basin divestitures. In January 2018, the Company closed on two asset divestitures of certain non-core assets in Reeves and Ward Counties, Texas, 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 gain on disposition of assets, net on its consolidated statement of operations for the six months ended June 30, 2018 . The assets divested included proved and unproved oil and natural gas properties on approximately 20,000 net acres. Nonmonetary transactions. During the six months ended June 30, 2018 , the Company completed multiple nonmonetary transactions. These transactions included exchanges 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 approximately $15 million , included in gain on disposition of assets, net on the Company’s consolidated statement of operations for the six months ended June 30, 2018 .

Stock incentive plan

Stock incentive plan	6 Months Ended
	Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock incentive plan	Stock incentive plan On May 16, 2019, the Company’s stockholders approved and adopted the Company’s 2019 Stock Incentive Plan (“the Plan”), which, among other things, increased the total shares authorized for issuance from 10.5 million to 15 million . The Plan provides for granting stock options, restricted stock awards and performance unit awards to directors, officers and employees of the Company. The restricted stock awards vest over a period ranging from one to ten years . The holders of unvested restricted stock awards have voting rights and the right to receive dividends. In January 2019 , the Company granted 212,947 performance unit awards. Included in this grant were 38,952 performance unit awards granted to certain officers, of which 19,476 have a three -year performance period and 19,476 have a five -year performance period. For these 38,952 performance unit awards, at the end of each performance period, each of these performance unit awards will convert into a restricted stock award with the number of shares determined based upon performance criteria, which will then vest at a rate of 20 percent per year commencing on the sixth anniversary of the grant date. All other performance unit awards granted during 2019 will vest at the end of a three -year performance period. 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 six months ended June 30, 2019 is presented below: Restricted Stock Shares Performance Units Outstanding at December 31, 2018 1,364,699 218,391 Awards granted (a) 260,537 212,947 (b) Awards canceled / forfeited (31,119 ) — Lapse of restrictions (349,594 ) — Outstanding at June 30, 2019 1,244,523 431,338 (a) Weighted average grant date fair value per share/unit $ 105.59 $ 144.03 (b) Includes 38,952 performance unit awards granted to certain officers in January 2019 that may convert into shares of restricted stock awards at the end of each performance period that will be subject to additional vesting conditions. The following table reflects the future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outstanding at June 30, 2019 : (in millions) Remaining 2019 $ 37 2020 48 2021 23 2022 4 2023 2 2024 1 Thereafter 2 Total $ 117

Disclosures about fair value me

Disclosures about fair value measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Disclosures about fair value measurements	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-exchange 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 for 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 require 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 inputs including: (i) quoted forward prices for 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. 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 June 30, 2019 and December 31, 2018 : (in millions) June 30, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value Assets: Derivative instruments $ 41 $ 41 $ 695 $ 695 Liabilities: Derivative instruments $ 138 $ 138 $ — $ — Credit facility $ 397 $ 397 $ 242 $ 242 $600 million 4.375% senior notes due 2025 (a) $ 594 $ 624 $ 594 $ 591 $1,000 million 3.75% senior notes due 2027 (a) $ 989 $ 1,033 $ 989 $ 939 $1,000 million 4.3% senior notes due 2028 (a) $ 989 $ 1,081 $ 988 $ 980 $800 million 4.875% senior notes due 2047 (a) $ 789 $ 896 $ 789 $ 761 $600 million 4.85% senior notes due 2048 (a) $ 592 $ 675 $ 592 $ 573 (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 other 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 the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The following tables 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 June 30, 2019 and December 31, 2018 . The Company nets the fair value of derivative instruments by counterparty in the Company’s consolidated balance sheets. June 30, 2019 (in millions) Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Gross Amounts Offset in the Consolidated Balance Sheet Net Fair Value Presented in the Consolidated Balance Sheet Assets: Current: Commodity derivatives $ — $ 109 $ — $ 109 $ (97 ) $ 12 Noncurrent: Commodity derivatives — 58 — 58 (29 ) 29 Liabilities: Current: Commodity derivatives — (223 ) — (223 ) 97 (126 ) Noncurrent: Commodity derivatives — (41 ) — (41 ) 29 (12 ) Net derivative instruments $ — $ (97 ) $ — $ (97 ) $ — $ (97 ) December 31, 2018 Fair Value Measurements Using (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Gross Amounts Offset in the Consolidated Balance Sheet Net Fair Value Presented in the Consolidated Balance Sheet Assets: Current: Commodity derivatives $ — $ 543 $ — $ 543 $ (59 ) $ 484 Noncurrent: Commodity derivatives — 243 — 243 (32 ) 211 Liabilities: Current: Commodity derivatives — (59 ) — (59 ) 59 — Noncurrent: Commodity derivatives — (32 ) — (32 ) 32 — Net derivative instruments $ — $ 695 $ — $ 695 $ — $ 695 Concentrations of credit risk. At June 30, 2019 , 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 counterparties 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 Note 7 for additional information regarding the Company’s derivative activities and counterparties. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are reported at fair value on a nonrecurring basis in the Company’s consolidated balance sheets. The following methods and assumptions were used to estimate the fair values. Impairments of long-lived assets . The Company reviews its long-lived assets to be held and used, including proved oil and natural gas properties, whenever events or circumstances indicate that the carrying value of those assets may not be recoverable, for instance when there are declines in commodity prices or well performance. The Company reviews its oil and natural gas properties by depletion base. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. If the estimated undiscounted future net cash flows are less than the carrying amount of the Company’s assets, it recognizes an impairment loss for the amount by which the carrying amount of the asset exceeds the estimated fair value of the asset. The Company calculates the expected undiscounted future net cash flows of its long-lived assets and their integrated assets using management’s assumptions and expectations of (i) commodity prices, which are based on the NYMEX strip, (ii) pricing adjustments for differentials, (iii) production costs, (iv) capital expenditures, (v) production volumes, (vi) estimated proved reserves and risk-adjusted probable and possible reserves, and (vii) prevailing market rates of income and expenses from integrated assets. At June 30, 2019, the Company’s estimates of commodity prices for purposes of determining undiscounted future cash flows, which are based on the NYMEX strip, ranged from a 2019 price of $58.32 per barrel of oil decreasing to a 2022 price of $53.58 then rising to a 2026 price of $54.47 per barrel of oil. Natural gas prices ranged from a 2019 price of $2.38 per Mcf of natural gas increasing to a 2026 price of $2.99 per Mcf. Both oil and natural gas commodity prices for this purpose were held flat after 2026. The Company calculates the estimated fair values of its long-lived assets and their integrated assets using a discounted future cash flow model. Significant inputs associated with the calculation of discounted future net cash flows include estimates of (i) recoverable reserves, (ii) production rates, (iii) future operating and development costs, (iv) future commodity prices, and (v) a market-based weighted average cost of capital. The Company utilized a combination of the NYMEX strip pricing and consensus pricing, adjusted for differentials, to value the reserves. These are classified as Level 3 fair value assumptions. At June 30, 2019, the carrying amount of the proved properties of the Company's Yeso field exceeded the expected undiscounted future net cash flows resulting in a non-cash charge against earnings of $868 million . The non-cash charge represented the amount by which the carrying amount exceeded the estimated fair value of the assets and was attributable primarily to certain downward adjustments to our economically recoverable proved oil and natural gas reserves. At June 30, 2019 , the Company's estimate of commodity prices for purposes of determining discounted future cash flows ranged from a 2019 price of $58.32 per barrel of oil increasing to a 2026 price of $62.06 per barrel of oil. Natural gas prices ranged from a 2019 price of $2.38 per Mcf of natural gas increasing to a 2026 price of $3.00 per Mcf of natural gas. These prices were then adjusted for location and quality differentials. Both oil and natural gas commodity prices for this purpose were inflated by two percent each year after 2026. The expected future net cash flows were discounted using an annual rate of 10 percent . It is reasonably possible that the estimate of undiscounted future net cash flows of the Company’s long-lived assets may change in the future resulting in the need to further impair carrying values. The primary factors that may affect estimates of future cash flows are (i) commodity prices including differentials, (ii) increases or decreases in production and capital costs, (iii) future reserve volume adjustments, both positive and negative, to proved reserves and appropriate risk-adjusted probable and possible reserves, (iv) results of future drilling activities and (v) changes in income and expenses from integrated assets.

Derivative financial instrument

Derivative financial instruments	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative financial instruments	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 instruments 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 contracts 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 records these contracts at cost. The 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 instruments for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended (in millions) 2019 2018 2019 2018 Gain (loss) on derivatives: Oil derivatives $ 195 $ (128 ) $ (861 ) $ (161 ) Natural gas derivatives 22 (5 ) 19 (7 ) Total $ 217 $ (133 ) $ (842 ) $ (168 ) The following table represents the Company’s net cash receipts from (payments on) derivatives for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended (in millions) 2019 2018 2019 2018 Net cash receipts from (payments on) derivatives: Oil derivatives $ (54 ) $ (86 ) $ (51 ) $ (199 ) Natural gas derivatives 4 4 1 5 Total $ (50 ) $ (82 ) $ (50 ) $ (194 ) Commodity derivative contracts. The following table sets forth the Company’s outstanding derivative contracts at June 30, 2019 . When aggregating multiple contracts, the weighted average contract price is disclosed. All of the Company’s derivative contracts at June 30, 2019 are expected to settle by December 31, 2021. First Quarter Second Quarter Third Quarter Fourth Quarter Total Oil Price Swaps: (a) 2019: Volume (Bbl) 14,829,000 12,513,000 27,342,000 Price per Bbl $ 57.06 $ 56.65 $ 56.87 2020: Volume (Bbl) 11,243,000 10,166,500 9,453,000 9,218,000 40,080,500 Price per Bbl $ 57.48 $ 57.24 $ 57.18 $ 57.14 $ 57.27 2021: Volume (Bbl) 3,330,000 3,367,000 3,220,000 3,220,000 13,137,000 Price per Bbl $ 55.33 $ 55.33 $ 55.33 $ 55.33 $ 55.33 Oil Costless Collars: (a) 2019: Volume (Bbl) 1,135,000 1,058,000 2,193,000 Ceiling price per Bbl $ 63.47 $ 62.95 $ 63.22 Floor price per Bbl $ 55.74 $ 55.43 $ 55.60 Oil Basis Swaps: (b) 2019: Volume (Bbl) 15,778,000 16,053,000 31,831,000 Price per Bbl $ (2.32 ) $ (2.19 ) $ (2.25 ) 2020: Volume (Bbl) 14,651,000 10,192,000 10,120,000 10,120,000 45,083,000 Price per Bbl $ (0.46 ) $ (0.70 ) $ (0.71 ) $ (0.71 ) $ (0.63 ) 2021: Volume (Bbl) 3,600,000 3,640,000 3,680,000 3,680,000 14,600,000 Price per Bbl $ 0.57 $ 0.57 $ 0.57 $ 0.57 $ 0.57 Natural Gas Price Swaps: (c) 2019: Volume (MMBtu) 17,298,537 17,209,535 34,508,072 Price per MMBtu $ 2.87 $ 2.87 $ 2.87 2020: Volume (MMBtu) 6,233,500 6,233,500 6,118,000 6,118,000 24,703,000 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”) calendar-month 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 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	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt The Company’s debt consisted of the following at June 30, 2019 and December 31, 2018 : (in millions) June 30, December 31, Credit facility due 2022 $ 397 $ 242 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 1,000 4.875% unsecured senior notes due 2047 800 800 4.85% unsecured senior notes due 2048 600 600 Unamortized original issue discount (10 ) (10 ) Senior notes issuance costs, net (37 ) (38 ) Less: current portion — — Total long-term debt $ 4,350 $ 4,194 (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 June 30, 2019 , the Company’s commitments from its bank group were $2.0 billion , of which $1.6 billion were unused commitments, net of letters of credit. During the three and six months ended June 30, 2019 , the weighted average interest rates on the Credit Facility were 4.3 percent and 4.4 percent , respectively. At June 30, 2019 , certain of the Company’s 100 percent owned subsidiaries were guarantors under the Credit Facility. Senior notes. Interest on the Company’s senior notes is paid in arrears semi-annually. The senior notes are fully and unconditionally 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 13 , and rank equally in right of payments with one another. At June 30, 2019 , the 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 six months ended June 30, 2019 and 2018 : (in millions) Three Months Ended Six Months Ended 2019 2018 2019 2018 Cash payments for interest $ 46 $ 42 $ 109 $ 60 Non-cash interest 2 2 3 3 Net changes in accruals 5 (15 ) (8 ) (3 ) Interest costs incurred 53 29 104 60 Less: capitalized interest (5 ) (2 ) (9 ) (3 ) Total interest expense $ 48 $ 27 $ 95 $ 57

Commitments and contingencies

Commitments and contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	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 ongoing 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 liquidity. 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. 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 as 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 believes 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. Commitments. The Company periodically enters into contractual arrangements under which the Company is committed to expend funds. These contractual arrangements relate to purchase agreements the Company has entered into including water commitment agreements, throughput volume delivery commitments, fixed and variable power commitments, sand commitment agreements, fixed asset commitments and maintenance commitments. The Company’s drilling rig commitments are considered leases under ASU 2016-02 and are included within the tables under the “Leases” section below. The following table summarizes the Company’s commitments at June 30, 2019 : (in millions) Remaining 2019 $ 20 2020 70 2021 77 2022 38 2023 35 2024 36 Thereafter 103 Total $ 379 At June 30, 2019 , the Company’s delivery commitments covered the following gross volumes of oil and natural gas: Oil (MMBbl) Natural Gas (MMcf) Remaining 2019 7 1,582 2020 32 4,792 2021 37 18,931 2022 41 16,425 2023 33 16,425 2024 33 16,470 Thereafter 114 32,850 Total 297 107,475 Other commitments. In January 2019, the Company entered into a firm sales agreement with a third-party purchaser. The purchaser provides integrated transportation and marketing optionality, including dock capacity in Corpus Christi, Texas. The agreement has a term that ends five years after the completion of certain infrastructure projects and requires the Company to deliver 50,000 barrels of oil per day that will receive waterborne market pricing. Leases. The Company leases office space, office equipment, drilling rigs, field equipment and vehicles. Right-of-use assets and lease liabilities are initially recorded at commencement date based on the present value of lease payments over the lease term. Leased assets may be used in joint operations with other working interest owners. When the Company is the operator in a joint arrangement, the right-of-use assets and lease liabilities are determined on a gross basis. Certain leases contain variable costs above the minimum required payments and are not included in the right-of-use assets or lease liabilities. Options to extend or terminate a lease are included in the lease term when it is reasonably certain the Company will exercise that option. For operating leases, lease cost is recognized on a straight-line basis over the term of the lease. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. The Company elected a practical expedient to not separate non-lease components from lease components for the following asset types: office space, office equipment, drilling rigs, and field equipment. The Company did not elect this practical expedient for vehicle leases. The following table provides supplemental consolidated balance sheet information related to leases at June 30, 2019 : (in millions) Classification June 30, 2019 Assets Operating lease right-of-use assets Other property and equipment, net $ 17 Finance lease right-of-use assets Other property and equipment, net 15 Total lease right-of-use assets (a) $ 32 Liabilities Current: Operating Other current liabilities $ 7 Finance Other current liabilities 6 Noncurrent: Operating Asset retirement obligations and other long-term liabilities 12 Finance Asset retirement obligations and other long-term liabilities 10 Total lease liabilities (a) $ 35 (a) Total lease right-of-use assets and lease liabilities are gross amounts, and a portion of these costs will be reimbursed by other working interest owners. As of June 30, 2019 , the Company had additional operating leases that have not yet commenced. Future undiscounted lease payments of $15 million and estimated lease incentives of $5 million will be included in the determination of the right-of-use asset and lease liability upon lease commencement. The following table provides the components of lease cost, excluding lease cost related to short-term leases, for the three and six months ended June 30, 2019 : (in millions) Classification Three Months Ended Six Months Ended Operating lease cost General and administrative $ 2 $ 4 Finance lease cost Depreciation, depletion, and amortization (a) 2 4 Total lease cost $ 4 $ 8 (a) Interest on lease liabilities related to finance leases was immaterial during the three and six months ended June 30, 2019. The Company’s short-term leases are comprised primarily of drilling rigs and certain field equipment. During the three and six months ended June 30, 2019 , the Company’s gross lease costs related to its short-term leases were $90 million and $184 million , respectively, of which $64 million and $131 million , respectively, were capitalized as part of oil and natural gas properties. A portion of these costs was reimbursed to the Company by other working interest owners. The following table summarizes supplemental cash flow information related to leases for the six months ended June 30, 2019 : (in millions) Six Months Ended June 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 4 Financing cash flows from finance leases $ 4 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 1 Finance leases $ 4 The following table provides lease terms and discount rates related to leases at June 30, 2019 : June 30, 2019 Weighted average remaining lease term (years): Operating leases 3.2 Finance leases 2.8 Weighted average discount rate (a): Operating leases 4.9 % Finance leases 4.4 % (a) The Company uses the rate implicit in the contract, if readily determinable, or its incremental borrowing rate at the commencement date as the discount rate in determining the present value of the lease payments. The following table provides maturities of lease liabilities at June 30, 2019 : (in millions) Operating Leases Finance Leases Remaining 2019 $ 4 $ 3 2020 8 6 2021 7 5 2022 1 2 2023 — 1 Thereafter 1 — Total lease payments 21 17 Less: interest (2 ) (1 ) Present value of lease liabilities $ 19 $ 16 As discussed in Note 2 , the Company elected a transition method to recognize the effects of applying the new standard as a cumulative-effect adjustment to the opening balance of retained earnings. Per ASU 2016-02, an entity electing this transition method should provide the required disclosures under Topic 840 for all periods that continue to be in accordance with Topic 840. As such, the Company included the future minimum lease commitments table below as of December 31, 2018 . In addition, lease payments associated with these operating leases were $3 million and $6 million for the three and six months ended June 30, 2018 , respectively. Future minimum lease commitments under non-cancellable leases at December 31, 2018 were as follows: (in millions) 2019 $ 14 2020 12 2021 10 2022 3 2023 — Thereafter 1 Total $ 40

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company’s provision for income taxes is based on the estimated annual effective tax rate plus discrete items. For the three months ended June 30, 2019 and 2018 , the Company recorded an income tax benefit of $53 million and income tax expense of $40 million , respectively, and an income tax benefit of $247 million and income tax expense of $294 million for the six months ended June 30, 2019 and 2018 , respectively. The change in the income tax provision as compared to 2018 was primarily due to a pre-tax loss for the three and six months ended June 30, 2019 as compared to pre-tax income for the respective periods in 2018 . The effective income tax rates were 35 percent and 23 percent for the three months ended June 30, 2019 and 2018 , respectively, and 24 percent and 23 percent for the six months ended June 30, 2019 and 2018 , respectively. The difference between the Company’s effective tax rates for the three and six months ended June 30, 2019 as compared to the same periods in 2018 was primarily due to a pre-tax loss in 2019 and the research and development credit, net of unrecognized tax benefits, recorded in 2019 . The Company recorded a discrete income tax benefit related to stock-based awards of $1 million and $3 million for the six months ended June 30, 2019 and 2018 , respectively. During the second quarter of 2019, the state of New Mexico enacted a tax law which, among other changes, amended the net operating loss apportioned carryforwards for corporations. As a result of this law change, the Company recorded an estimated deferred state tax benefit of $6 million during the three and six months ended June 30, 2019. 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. At December 31, 2018 , the Company had cumulative unrecognized tax benefits of approximately $63 million , primarily related to research and development credits. As of June 30, 2019 , the Company estimated an increase in cumulative unrecognized tax benefits for the 2019 tax year of approximately $16 million . 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 effective tax rate in the period recognized. The timing as to when the Company will substantially resolve the uncertainties associated with the unrecognized tax benefit is uncertain.

Related party transactions

Related party transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related party transactions	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 limited partnership interest. These payments totaled $2 million and $3 million for the three months ended June 30, 2019 and 2018 , respectively, and $4 million for both the six months ended June 30, 2019 and 2018 . At June 30, 2019 , the Company had ownership interests in entities that operate and manage various infrastructure assets and accounts for these investments using the equity method. The payments to these entities totaled $11 million and $15 million for the three and six months ended June 30, 2019 , respectively.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Earnings per share	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 (loss) per share attributable to common stockholders is computed 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 (loss) per share attributable to common stockholders is computed as (i) basic earnings (loss) 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 (loss) from operations and earnings (loss) attributable to common stockholders to the basic and diluted earnings (loss) used to determine the Company’s earnings (loss) per share amounts for the three and six months ended June 30, 2019 and 2018 under the two-class method: Three Months Ended Six Months Ended (in millions) 2019 2018 2019 2018 Net income (loss) as reported $ (97 ) $ 137 $ (792 ) $ 972 Participating basic earnings (a) — (1 ) — (8 ) Basic earnings (loss) attributable to common stockholders (97 ) 136 (792 ) 964 Reallocation of participating earnings — — — — Diluted earnings (loss) attributable to common stockholders $ (97 ) $ 136 $ (792 ) $ 964 (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 and undistributed 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 six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended (in thousands) 2019 2018 2019 2018 Weighted average common shares outstanding: Basic 199,185 147,938 199,184 147,931 Dilutive performance units — 177 — 357 Diluted 199,185 148,115 199,184 148,288 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 Six Months Ended (in thousands) 2019 2018 2019 2018 Number of antidilutive units: Performance units 431 218 430 109 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 stockholder return relative to the total stockholder return of a predetermined group of peer companies at the end of the performance period and (ii) the Company’s absolute total stockholder return at the end of the performance period. The performance period on these awards can range from three to five years . The actual payout of shares will be between zero and 300 percent . See Note 5 for additional information on performance unit awards.

Subsidiary guarantors

Subsidiary guarantors	6 Months Ended
	Jun. 30, 2019
Guarantees [Abstract]
Subsidiary guarantors	Subsidiary guarantors At June 30, 2019 , 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 customary 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 Company, 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 8 for a summary of the Company’s senior notes. In accordance with practices accepted by the SEC, 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, certain of the Company’s subsidiaries do not guarantee the Company’s senior notes and are included in the Company’s consolidated financial statements. These entities are 100 percent owned subsidiaries and are referred to as a “Subsidiary Non-Guarantor” in the tables below. The Company’s less than 100 percent owned subsidiaries, primarily equity method investments, do not guarantee the Company’s senior notes. The following condensed consolidating balance sheets at June 30, 2019 and December 31, 2018 , condensed consolidating statements of operations for the three and six months ended June 30, 2019 and 2018 and condensed consolidating statements of cash flows for the six months ended June 30, 2019 and 2018 , present financial information for Concho Resources Inc. as the parent 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 subsidiaries under the equity method), financial information for the subsidiary non-guarantors 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 deferred 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-guarantors are not restricted from making distributions to the Company. Condensed Consolidating Balance Sheet June 30, 2019 (in millions) Parent Issuer Subsidiary Guarantors Subsidiary Non-Guarantor Consolidating Entries Total ASSETS Accounts receivable - related parties $ 18,181 $ — $ — $ (18,181 ) $ — Other current assets 25 835 — — 860 Oil and natural gas properties, net — 21,826 16 — 21,842 Property and equipment, net — 374 — — 374 Investment in subsidiaries 5,310 — — (5,310 ) — Goodwill — 2,222 — — 2,222 Other long-term assets 43 137 — — 180 Total assets $ 23,559 $ 25,394 $ 16 $ (23,491 ) $ 25,478 LIABILITIES AND EQUITY Accounts payable - related parties $ — $ 18,165 $ 16 $ (18,181 ) $ — Other current liabilities 192 1,211 — — 1,403 Long-term debt 4,350 — — — 4,350 Other long-term liabilities 1,058 708 — — 1,766 Equity 17,959 5,310 — (5,310 ) 17,959 Total liabilities and equity $ 23,559 $ 25,394 $ 16 $ (23,491 ) $ 25,478 Condensed Consolidating Balance Sheet December 31, 2018 (in millions) Parent Issuer Subsidiary Guarantors Subsidiary Non-Guarantor Consolidating Entries Total ASSETS Accounts receivable - related parties $ 18,155 $ — $ — $ (18,155 ) $ — Other current assets 534 875 — — 1,409 Oil and natural gas properties, net — 21,988 17 — 22,005 Property and equipment, net — 308 — — 308 Investment in subsidiaries 5,411 — — (5,411 ) — Goodwill — 2,224 — — 2,224 Other long-term assets 224 124 — — 348 Total assets $ 24,324 $ 25,519 $ 17 $ (23,566 ) $ 26,294 LIABILITIES AND EQUITY Accounts payable - related parties $ — $ 18,138 $ 17 $ (18,155 ) $ — Other current liabilities 70 1,286 — — 1,356 Long-term debt 4,194 — — — 4,194 Other long-term liabilities 1,292 684 — — 1,976 Equity 18,768 5,411 — (5,411 ) 18,768 Total liabilities and equity $ 24,324 $ 25,519 $ 17 $ (23,566 ) $ 26,294 Condensed Consolidating Statement of Operations Three Months Ended June 30, 2019 (in millions) Parent Subsidiary Subsidiary Consolidating Total Total operating revenues $ — $ 1,127 $ — $ — $ 1,127 Total operating costs and expenses 217 (1,749 ) — — (1,532 ) Income (loss) from operations 217 (622 ) — — (405 ) Interest expense (48 ) — — — (48 ) Other, net (319 ) 303 — 319 303 Loss before income taxes (150 ) (319 ) — 319 (150 ) Income tax benefit 53 — — — 53 Net loss $ (97 ) $ (319 ) $ — $ 319 $ (97 ) Condensed Consolidating Statement of Operations Three Months Ended June 30, 2018 (in millions) Parent Subsidiary Subsidiary Consolidating Total Total operating revenues $ — $ 945 $ — $ — $ 945 Total operating costs and expenses (134 ) (608 ) — — (742 ) Income (loss) from operations (134 ) 337 — — 203 Interest expense (27 ) — — — (27 ) Other, net 338 1 — (338 ) 1 Income before income taxes 177 338 — (338 ) 177 Income tax expense (40 ) — — — (40 ) Net income $ 137 $ 338 $ — $ (338 ) $ 137 Condensed Consolidating Statement of Operations Six Months Ended June 30, 2019 (in millions) Parent Subsidiary Subsidiary Consolidating Total Total operating revenues $ — $ 2,231 $ — $ — $ 2,231 Total operating costs and expenses (843 ) (2,639 ) — — (3,482 ) Loss from operations (843 ) (408 ) — — (1,251 ) Interest expense (95 ) — — — (95 ) Other, net (101 ) 307 — 101 307 Loss before income taxes (1,039 ) (101 ) — 101 (1,039 ) Income tax benefit 247 — — — 247 Net loss $ (792 ) $ (101 ) $ — $ 101 $ (792 ) Condensed Consolidating Statement of Operations Six Months Ended June 30, 2018 (in millions) Parent Subsidiary Subsidiary Consolidating Total Total operating revenues $ — $ 1,887 $ 5 $ — $ 1,892 Total operating costs and expenses (168 ) (503 ) (3 ) — (674 ) Income (loss) from operations (168 ) 1,384 2 — 1,218 Interest expense (57 ) — — — (57 ) Other, net 1,491 105 — (1,491 ) 105 Income before income taxes 1,266 1,489 2 (1,491 ) 1,266 Income tax expense (294 ) — — — (294 ) Net income $ 972 $ 1,489 $ 2 $ (1,491 ) $ 972 Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2019 (in millions) Parent Subsidiary Subsidiary Consolidating Total Net cash flows provided by (used in) operating activities $ (91 ) $ 1,493 $ — $ — $ 1,402 Net cash flows used in investing activities — (1,473 ) — — (1,473 ) Net cash flows provided by (used in) financing activities 91 (20 ) — — 71 Net change in cash and cash equivalents — — — — — Cash and cash equivalents at beginning of period — — — — — Cash and cash equivalents at end of period $ — $ — $ — $ — $ — Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2018 (in millions) Parent Subsidiary Subsidiary Consolidating Total Net cash flows provided by operating activities $ 354 $ 736 $ — $ — $ 1,090 Net cash flows used in investing activities — (565 ) — — (565 ) Net cash flows used in financing activities (354 ) (116 ) — — (470 ) Net increase in cash and cash equivalents — 55 — — 55 Cash and cash equivalents at beginning of period — — — — — Cash and cash equivalents at end of period $ — $ 55 $ — $ — $ 55

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent events	Subsequent events 2019 dividends. On July 30, 2019 , the Company’s board of directors approved a cash dividend of $0.125 per share for the third quarter of 2019 that is expected to be paid on September 30, 2019 to stockholders of record as of August 9, 2019 . Joint venture. In July 2019, the Company contributed certain water infrastructure assets primarily in Eddy County, New Mexico to Solaris Midstream Holdings, LLC (“Solaris”). Solaris owns and operates produced water gathering, transportation, disposal, recycling and storage infrastructure assets in the Permian Basin. In exchange, the Company received a cash distribution and a 20 percent equity ownership in Solaris. In conjunction with the transaction, the Company entered into a water gathering and disposal agreement with Solaris. New commodity derivative contracts. After June 30, 2019 , the Company entered into the following derivative contracts to hedge additional amounts of estimated future production: First Quarter Second Quarter Third Quarter Fourth Quarter Total Oil Price Swaps – WTI: (a) 2019: Volume (Bbl) 1,741,000 — 1,741,000 Price per Bbl $ 56.08 $ — $ 56.08 Oil Price Swaps – Brent: (b) 2019: Volume (Bbl) — 1,810,000 1,810,000 Price per Bbl $ — $ 62.48 $ 62.48 2020: Volume (Bbl) 1,001,000 1,001,000 1,012,000 1,012,000 4,026,000 Price per Bbl $ 61.03 $ 61.03 $ 61.03 $ 61.03 $ 61.03 Natural Gas Price Swaps: (c) 2020: Volume (MMBtu) 9,100,000 9,100,000 9,200,000 9,200,000 36,600,000 Price per MMBtu $ 2.45 $ 2.45 $ 2.45 $ 2.45 $ 2.45 2021: Volume (MMBtu) 7,200,000 7,280,000 7,360,000 7,360,000 29,200,000 Price per MMBtu $ 2.52 $ 2.52 $ 2.52 $ 2.52 $ 2.52 Natural Gas Basis Swaps: (d) 2019: Volume (Bbl) 2,400,000 7,360,000 9,760,000 Price per Bbl $ (0.70 ) $ (0.70 ) $ (0.70 ) 2020: Volume (MMBtu) 7,280,000 7,280,000 7,360,000 7,360,000 29,280,000 Price per MMBtu $ (1.04 ) $ (1.04 ) $ (1.04 ) $ (1.04 ) $ (1.04 ) (a) These oil derivative contracts are settled based on the NYMEX – WTI calendar-month average futures price. (b) These oil derivative contracts are settled based on the Brent calendar-month average futures price. (c) The natural gas derivative contracts are settled based on the NYMEX – Henry Hub last trading day futures price. (d) The basis differential price is between NYMEX – Henry Hub and El Paso Permian.

Supplementary information

Supplementary information	6 Months Ended
	Jun. 30, 2019
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Supplementary information	Supplementary information Capitalized costs (in millions) June 30, December 31, Oil and natural gas properties: Proved $ 26,824 $ 24,992 Unproved 6,497 6,714 Less: accumulated depletion (11,479 ) (9,701 ) Net capitalized costs for oil and natural gas properties $ 21,842 $ 22,005 Costs incurred for oil and natural gas producing activities Three Months Ended Six Months Ended (in millions) 2019 2018 2019 2018 Property acquisition costs: Proved $ — $ — $ — $ — Unproved 9 5 13 18 Exploration 435 335 897 578 Development 350 166 814 373 Total costs incurred for oil and natural gas properties $ 794 $ 506 $ 1,724 $ 969

Basis of presentation and sum_2

Basis of presentation and summary of significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2019
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 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 conform to the 2019 presentation. These reclassifications had no impact on net income (loss), total assets, liabilities and 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 Generally 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 date 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 natural gas reserves. There are numerous uncertainties inherent in the estimation of quantities of proved oil and natural gas reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of proved and 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 income 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, 2018 is derived 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 are 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 condensed notes to the consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s 2018 Form 10-K.
Equity method investments	Equity method investments.
Litigation contingencies	Litigation contingencies.
Revenue recognition	Revenue recognition. The Company recognizes revenues from the sales of oil and natural gas to its customers and presents them disaggregated on the Company’s consolidated statements of operations. All revenues are recognized in the geographical region of the Permian Basin. The Company enters into 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 Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers,” (“ASC 606”). Specifically, revenue is recognized when the Company’s performance 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 transferred when the following criteria are met: (i) transfer of physical 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, revenue 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 June 30, 2019 and December 31, 2018 , the Company had receivables related to contracts with customers of $460 million and $466 million , respectively. 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 using 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 oil sales on the consolidated statements 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 gathering, processing and transportation on the Company’s consolidated statements of operations and are accounted for as costs incurred directly and not netted from transaction price. 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) percentage of proceeds processing contracts, (ii) fee-based contracts or (iii) a hybrid of percentage of proceeds and fee-based contracts. Under 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 products 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 received from the purchaser. To the extent that control transfers downstream of those activities, revenue is recognized on a gross basis, and the related costs are classified in gathering, processing and transportation on 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. The exemption, as described 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 and 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 reductions to general and administrative
Recently adopted accounting pronouncements and new accounting pronouncements issued but not yet adopted	Recently adopted accounting pronouncements. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”), which requires all leases with a term greater than one year to be recognized on the consolidated balance sheet while maintaining similar classifications for finance and operating leases. Lease expense recognition on the consolidated statements of operations was effectively unchanged. The Company adopted this guidance on January 1, 2019. The Company made policy elections not to capitalize short-term leases for all asset classes and not to separate non-lease components from lease components for all asset classes except for vehicles. The Company also did not elect the package of practical expedients that allowed for certain considerations under the original “Leases (Topic 840)” accounting standard (“Topic 840”) to be carried forward upon adoption of ASU 2016-02. In January 2018, the FASB issued ASU No. 2018-01, “Land Easement Practical Expedient for Transition to Topic 842,” which provides an optional practical expedient not to evaluate land easements that existed 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 did not account for any land easements under Topic 840. As this guidance serves as an amendment to ASU 2016-02, the Company elected this practical expedient, which became effective upon the date of 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 election not to 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 the new standard as a cumulative-effect adjustment to the opening balance of retained earnings. The Company elected this transition approach, however the cumulative impact of adoption in the opening balance of retained earnings as of January 1, 2019 was zero . The Company enters into lease agreements to support its operations. These agreements are for leases on assets such as office space, vehicles, field equipment and drilling rigs. Upon adoption, the Company recognized $35 million of right-of-use assets, of which $19 million and $16 million relate to the Company’s operating and finance leases, respectively, and $37 million of associated lease liabilities. See Note 9 for additional disclosures of the Company’s leases. In August 2018, the Securities and Exchange Commission (“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 rule extends the annual disclosure requirement in SEC Regulation S-X, Rule 3-04, of presenting changes in stockholders’ equity to interim periods. Registrants are required to analyze changes in stockholders’ equity in the form of a reconciliation for the current quarter and year-to-date interim periods and comparative periods in the prior year. As a result, the Company updated its presentation of the consolidated statements of stockholders’ equity to include comparative periods in the prior year. In addition, the final rule requires the presentation of dividends per share to be disclosed in the statement of stockholders’ equity. New accounting pronouncements issued but not yet adopted. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“Topic 326”), which replaces the current “incurred loss” methodology for recognizing credit losses with 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 the expected credit losses on financial instruments. In November 2018, the FASB issued ASU No. 2018-19, “Codification Improvements to Topic 326, Financial Instruments–Credit Losses,” which makes amendments to clarify the scope of the guidance, including the amendment clarifying that receivables arising from operating leases are not within the scope of Topic 326. 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 new guidance will have a material impact on its consolidated financial statements. In November 2018, the FASB issued ASU No. 2018-18, “Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606” (“ASU 2018-18”), which, among other things, clarifies that (i) certain transactions between collaborative arrangement participants should be accounted for as revenue under Topic 606 when the collaborative arrangement participant is a customer in the context of a unit of account, (ii) adds unit-of-account guidance in Topic 808 to align with the guidance in Topic 606 and (iii) requires that in a transaction with a collaborative arrangement participant that is not directly related to sales to third parties, presenting the transaction together with revenue recognized under Topic 606 is precluded if the collaborative arrangement participant is not a customer. ASU 2018-18 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years and early adoption is permitted. The amendments in this update should be applied retrospectively to the date of initial application of Topic 606. An entity should recognize the cumulative effect of initially applying the amendments as an adjustment to the opening balance of retained earnings of the later of the earliest annual period presented and the annual period that includes the date of the entity’s initial application of Topic 606. The Company does not believe this new guidance will have a material impact on its consolidated financial statements.

RSP Acquisition (Tables)

RSP Acquisition (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Purchase Price Allocation	The following table sets forth the Company’s final purchase price allocation: (in millions) Total purchase price $ 7,549 Fair value of liabilities assumed: Accounts payable – trade $ 48 Accrued drilling costs 79 Current derivative instruments 10 Other current liabilities 116 Long-term debt 1,758 Deferred income taxes 515 Asset retirement obligations 20 Noncurrent derivative instruments 5 Total liabilities assumed $ 2,551 Total purchase price plus liabilities assumed $ 10,100 Fair value of assets acquired: Accounts receivable $ 194 Current derivative instruments 36 Other current assets 21 Proved oil and natural gas properties 4,055 Unproved oil and natural gas properties 3,565 Other property and equipment 5 Noncurrent derivative instruments 2 Implied goodwill 2,222 Total assets acquired $ 10,100
Schedule of Pro Forma Information	(in millions, except per share amounts) Three Months Ended Six Months Ended Operating revenues $ 1,262 $ 2,488 Net income $ 238 $ 1,169 Earnings per share: Basic net income $ 1.19 $ 5.85 Diluted net income $ 1.19 $ 5.83

Stock incentive plan (Tables)

Stock incentive plan (Tables)	6 Months Ended
	Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of restricted stock shares and performance unit activity	A summary of the Company’s restricted stock shares and performance unit activity under the Plan for the six months ended June 30, 2019 is presented below: Restricted Stock Shares Performance Units Outstanding at December 31, 2018 1,364,699 218,391 Awards granted (a) 260,537 212,947 (b) Awards canceled / forfeited (31,119 ) — Lapse of restrictions (349,594 ) — Outstanding at June 30, 2019 1,244,523 431,338 (a) Weighted average grant date fair value per share/unit $ 105.59 $ 144.03 (b) Includes 38,952 performance unit awards granted to certain officers in January 2019 that may convert into shares of restricted stock awards at the end of each performance period that will be subject to additional vesting conditions.
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 outstanding at June 30, 2019 : (in millions) Remaining 2019 $ 37 2020 48 2021 23 2022 4 2023 2 2024 1 Thereafter 2 Total $ 117

Disclosures about fair value _2

Disclosures about fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [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 June 30, 2019 and December 31, 2018 : (in millions) June 30, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value Assets: Derivative instruments $ 41 $ 41 $ 695 $ 695 Liabilities: Derivative instruments $ 138 $ 138 $ — $ — Credit facility $ 397 $ 397 $ 242 $ 242 $600 million 4.375% senior notes due 2025 (a) $ 594 $ 624 $ 594 $ 591 $1,000 million 3.75% senior notes due 2027 (a) $ 989 $ 1,033 $ 989 $ 939 $1,000 million 4.3% senior notes due 2028 (a) $ 989 $ 1,081 $ 988 $ 980 $800 million 4.875% senior notes due 2047 (a) $ 789 $ 896 $ 789 $ 761 $600 million 4.85% senior notes due 2048 (a) $ 592 $ 675 $ 592 $ 573 (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 tables 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 June 30, 2019 and December 31, 2018 . The Company nets the fair value of derivative instruments by counterparty in the Company’s consolidated balance sheets. June 30, 2019 (in millions) Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Gross Amounts Offset in the Consolidated Balance Sheet Net Fair Value Presented in the Consolidated Balance Sheet Assets: Current: Commodity derivatives $ — $ 109 $ — $ 109 $ (97 ) $ 12 Noncurrent: Commodity derivatives — 58 — 58 (29 ) 29 Liabilities: Current: Commodity derivatives — (223 ) — (223 ) 97 (126 ) Noncurrent: Commodity derivatives — (41 ) — (41 ) 29 (12 ) Net derivative instruments $ — $ (97 ) $ — $ (97 ) $ — $ (97 ) December 31, 2018 Fair Value Measurements Using (in millions) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Gross Amounts Offset in the Consolidated Balance Sheet Net Fair Value Presented in the Consolidated Balance Sheet Assets: Current: Commodity derivatives $ — $ 543 $ — $ 543 $ (59 ) $ 484 Noncurrent: Commodity derivatives — 243 — 243 (32 ) 211 Liabilities: Current: Commodity derivatives — (59 ) — (59 ) 59 — Noncurrent: Commodity derivatives — (32 ) — (32 ) 32 — Net derivative instruments $ — $ 695 $ — $ 695 $ — $ 695

Derivative financial instrume_2

Derivative financial instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of the gains and losses reported in earnings related to the commodity derivative instruments	The following table summarizes the amounts reported in earnings related to the commodity derivative instruments for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended (in millions) 2019 2018 2019 2018 Gain (loss) on derivatives: Oil derivatives $ 195 $ (128 ) $ (861 ) $ (161 ) Natural gas derivatives 22 (5 ) 19 (7 ) Total $ 217 $ (133 ) $ (842 ) $ (168 ) The following table represents the Company’s net cash receipts from (payments on) derivatives for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended (in millions) 2019 2018 2019 2018 Net cash receipts from (payments on) derivatives: Oil derivatives $ (54 ) $ (86 ) $ (51 ) $ (199 ) Natural gas derivatives 4 4 1 5 Total $ (50 ) $ (82 ) $ (50 ) $ (194 )
Company's outstanding derivative contracts	The following table sets forth the Company’s outstanding derivative contracts at June 30, 2019 . When aggregating multiple contracts, the weighted average contract price is disclosed. All of the Company’s derivative contracts at June 30, 2019 are expected to settle by December 31, 2021. First Quarter Second Quarter Third Quarter Fourth Quarter Total Oil Price Swaps: (a) 2019: Volume (Bbl) 14,829,000 12,513,000 27,342,000 Price per Bbl $ 57.06 $ 56.65 $ 56.87 2020: Volume (Bbl) 11,243,000 10,166,500 9,453,000 9,218,000 40,080,500 Price per Bbl $ 57.48 $ 57.24 $ 57.18 $ 57.14 $ 57.27 2021: Volume (Bbl) 3,330,000 3,367,000 3,220,000 3,220,000 13,137,000 Price per Bbl $ 55.33 $ 55.33 $ 55.33 $ 55.33 $ 55.33 Oil Costless Collars: (a) 2019: Volume (Bbl) 1,135,000 1,058,000 2,193,000 Ceiling price per Bbl $ 63.47 $ 62.95 $ 63.22 Floor price per Bbl $ 55.74 $ 55.43 $ 55.60 Oil Basis Swaps: (b) 2019: Volume (Bbl) 15,778,000 16,053,000 31,831,000 Price per Bbl $ (2.32 ) $ (2.19 ) $ (2.25 ) 2020: Volume (Bbl) 14,651,000 10,192,000 10,120,000 10,120,000 45,083,000 Price per Bbl $ (0.46 ) $ (0.70 ) $ (0.71 ) $ (0.71 ) $ (0.63 ) 2021: Volume (Bbl) 3,600,000 3,640,000 3,680,000 3,680,000 14,600,000 Price per Bbl $ 0.57 $ 0.57 $ 0.57 $ 0.57 $ 0.57 Natural Gas Price Swaps: (c) 2019: Volume (MMBtu) 17,298,537 17,209,535 34,508,072 Price per MMBtu $ 2.87 $ 2.87 $ 2.87 2020: Volume (MMBtu) 6,233,500 6,233,500 6,118,000 6,118,000 24,703,000 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”) calendar-month 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 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)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Company's debt	The Company’s debt consisted of the following at June 30, 2019 and December 31, 2018 : (in millions) June 30, December 31, Credit facility due 2022 $ 397 $ 242 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 1,000 4.875% unsecured senior notes due 2047 800 800 4.85% unsecured senior notes due 2048 600 600 Unamortized original issue discount (10 ) (10 ) Senior notes issuance costs, net (37 ) (38 ) Less: current portion — — Total long-term debt $ 4,350 $ 4,194 (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 six months ended June 30, 2019 and 2018 : (in millions) Three Months Ended Six Months Ended 2019 2018 2019 2018 Cash payments for interest $ 46 $ 42 $ 109 $ 60 Non-cash interest 2 2 3 3 Net changes in accruals 5 (15 ) (8 ) (3 ) Interest costs incurred 53 29 104 60 Less: capitalized interest (5 ) (2 ) (9 ) (3 ) Total interest expense $ 48 $ 27 $ 95 $ 57

Commitments and contingencies (

Commitments and contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Summary of the Company's future commitments	The following table summarizes the Company’s commitments at June 30, 2019 : (in millions) Remaining 2019 $ 20 2020 70 2021 77 2022 38 2023 35 2024 36 Thereafter 103 Total $ 379
Oil and natural gas delivery commitments	At June 30, 2019 , the Company’s delivery commitments covered the following gross volumes of oil and natural gas: Oil (MMBbl) Natural Gas (MMcf) Remaining 2019 7 1,582 2020 32 4,792 2021 37 18,931 2022 41 16,425 2023 33 16,425 2024 33 16,470 Thereafter 114 32,850 Total 297 107,475
Supplemental balance sheet information related to leases	The following table provides supplemental consolidated balance sheet information related to leases at June 30, 2019 : (in millions) Classification June 30, 2019 Assets Operating lease right-of-use assets Other property and equipment, net $ 17 Finance lease right-of-use assets Other property and equipment, net 15 Total lease right-of-use assets (a) $ 32 Liabilities Current: Operating Other current liabilities $ 7 Finance Other current liabilities 6 Noncurrent: Operating Asset retirement obligations and other long-term liabilities 12 Finance Asset retirement obligations and other long-term liabilities 10 Total lease liabilities (a) $ 35 (a) Total lease right-of-use assets and lease liabilities are gross amounts, and a portion of these costs will be reimbursed by other working interest owners.
Components of lease expense	The following table provides the components of lease cost, excluding lease cost related to short-term leases, for the three and six months ended June 30, 2019 : (in millions) Classification Three Months Ended Six Months Ended Operating lease cost General and administrative $ 2 $ 4 Finance lease cost Depreciation, depletion, and amortization (a) 2 4 Total lease cost $ 4 $ 8 (a) Interest on lease liabilities related to finance leases was immaterial during the three and six months ended June 30, 2019.
Supplemental cash flow information related to leases	The following table summarizes supplemental cash flow information related to leases for the six months ended June 30, 2019 : (in millions) Six Months Ended June 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 4 Financing cash flows from finance leases $ 4 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 1 Finance leases $ 4
Lease terms and discount rates related to leases	The following table provides lease terms and discount rates related to leases at June 30, 2019 : June 30, 2019 Weighted average remaining lease term (years): Operating leases 3.2 Finance leases 2.8 Weighted average discount rate (a): Operating leases 4.9 % Finance leases 4.4 % (a) The Company uses the rate implicit in the contract, if readily determinable, or its incremental borrowing rate at the commencement date as the discount rate in determining the present value of the lease payments.
Maturity and present value of lease liabilities	The following table provides maturities of lease liabilities at June 30, 2019 : (in millions) Operating Leases Finance Leases Remaining 2019 $ 4 $ 3 2020 8 6 2021 7 5 2022 1 2 2023 — 1 Thereafter 1 — Total lease payments 21 17 Less: interest (2 ) (1 ) Present value of lease liabilities $ 19 $ 16
Future minimum lease commitments under non-cancellable operating leases	Future minimum lease commitments under non-cancellable leases at December 31, 2018 were as follows: (in millions) 2019 $ 14 2020 12 2021 10 2022 3 2023 — Thereafter 1 Total $ 40

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Reconciliation of earnings attributable to common shares, basic and diluted	The following table reconciles the Company’s earnings (loss) from operations and earnings (loss) attributable to common stockholders to the basic and diluted earnings (loss) used to determine the Company’s earnings (loss) per share amounts for the three and six months ended June 30, 2019 and 2018 under the two-class method: Three Months Ended Six Months Ended (in millions) 2019 2018 2019 2018 Net income (loss) as reported $ (97 ) $ 137 $ (792 ) $ 972 Participating basic earnings (a) — (1 ) — (8 ) Basic earnings (loss) attributable to common stockholders (97 ) 136 (792 ) 964 Reallocation of participating earnings — — — — Diluted earnings (loss) attributable to common stockholders $ (97 ) $ 136 $ (792 ) $ 964 (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 and undistributed 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 six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended (in thousands) 2019 2018 2019 2018 Weighted average common shares outstanding: Basic 199,185 147,938 199,184 147,931 Dilutive performance units — 177 — 357 Diluted 199,185 148,115 199,184 148,288
Summary of the performance units that were not included in the computation of diluted net income 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 Six Months Ended (in thousands) 2019 2018 2019 2018 Number of antidilutive units: Performance units 431 218 430 109

Subsidiary guarantors (Tables)

Subsidiary guarantors (Tables)	6 Months Ended
	Jun. 30, 2019
Guarantees [Abstract]
Condensed Consolidating Balance Sheet	The following condensed consolidating balance sheets at June 30, 2019 and December 31, 2018 , condensed consolidating statements of operations for the three and six months ended June 30, 2019 and 2018 and condensed consolidating statements of cash flows for the six months ended June 30, 2019 and 2018 , present financial information for Concho Resources Inc. as the parent 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 subsidiaries under the equity method), financial information for the subsidiary non-guarantors 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 deferred 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-guarantors are not restricted from making distributions to the Company. Condensed Consolidating Balance Sheet June 30, 2019 (in millions) Parent Issuer Subsidiary Guarantors Subsidiary Non-Guarantor Consolidating Entries Total ASSETS Accounts receivable - related parties $ 18,181 $ — $ — $ (18,181 ) $ — Other current assets 25 835 — — 860 Oil and natural gas properties, net — 21,826 16 — 21,842 Property and equipment, net — 374 — — 374 Investment in subsidiaries 5,310 — — (5,310 ) — Goodwill — 2,222 — — 2,222 Other long-term assets 43 137 — — 180 Total assets $ 23,559 $ 25,394 $ 16 $ (23,491 ) $ 25,478 LIABILITIES AND EQUITY Accounts payable - related parties $ — $ 18,165 $ 16 $ (18,181 ) $ — Other current liabilities 192 1,211 — — 1,403 Long-term debt 4,350 — — — 4,350 Other long-term liabilities 1,058 708 — — 1,766 Equity 17,959 5,310 — (5,310 ) 17,959 Total liabilities and equity $ 23,559 $ 25,394 $ 16 $ (23,491 ) $ 25,478 Condensed Consolidating Balance Sheet December 31, 2018 (in millions) Parent Issuer Subsidiary Guarantors Subsidiary Non-Guarantor Consolidating Entries Total ASSETS Accounts receivable - related parties $ 18,155 $ — $ — $ (18,155 ) $ — Other current assets 534 875 — — 1,409 Oil and natural gas properties, net — 21,988 17 — 22,005 Property and equipment, net — 308 — — 308 Investment in subsidiaries 5,411 — — (5,411 ) — Goodwill — 2,224 — — 2,224 Other long-term assets 224 124 — — 348 Total assets $ 24,324 $ 25,519 $ 17 $ (23,566 ) $ 26,294 LIABILITIES AND EQUITY Accounts payable - related parties $ — $ 18,138 $ 17 $ (18,155 ) $ — Other current liabilities 70 1,286 — — 1,356 Long-term debt 4,194 — — — 4,194 Other long-term liabilities 1,292 684 — — 1,976 Equity 18,768 5,411 — (5,411 ) 18,768 Total liabilities and equity $ 24,324 $ 25,519 $ 17 $ (23,566 ) $ 26,294
Condensed Consolidating Statement of Operations	Condensed Consolidating Statement of Operations Three Months Ended June 30, 2019 (in millions) Parent Subsidiary Subsidiary Consolidating Total Total operating revenues $ — $ 1,127 $ — $ — $ 1,127 Total operating costs and expenses 217 (1,749 ) — — (1,532 ) Income (loss) from operations 217 (622 ) — — (405 ) Interest expense (48 ) — — — (48 ) Other, net (319 ) 303 — 319 303 Loss before income taxes (150 ) (319 ) — 319 (150 ) Income tax benefit 53 — — — 53 Net loss $ (97 ) $ (319 ) $ — $ 319 $ (97 ) Condensed Consolidating Statement of Operations Three Months Ended June 30, 2018 (in millions) Parent Subsidiary Subsidiary Consolidating Total Total operating revenues $ — $ 945 $ — $ — $ 945 Total operating costs and expenses (134 ) (608 ) — — (742 ) Income (loss) from operations (134 ) 337 — — 203 Interest expense (27 ) — — — (27 ) Other, net 338 1 — (338 ) 1 Income before income taxes 177 338 — (338 ) 177 Income tax expense (40 ) — — — (40 ) Net income $ 137 $ 338 $ — $ (338 ) $ 137 Condensed Consolidating Statement of Operations Six Months Ended June 30, 2019 (in millions) Parent Subsidiary Subsidiary Consolidating Total Total operating revenues $ — $ 2,231 $ — $ — $ 2,231 Total operating costs and expenses (843 ) (2,639 ) — — (3,482 ) Loss from operations (843 ) (408 ) — — (1,251 ) Interest expense (95 ) — — — (95 ) Other, net (101 ) 307 — 101 307 Loss before income taxes (1,039 ) (101 ) — 101 (1,039 ) Income tax benefit 247 — — — 247 Net loss $ (792 ) $ (101 ) $ — $ 101 $ (792 ) Condensed Consolidating Statement of Operations Six Months Ended June 30, 2018 (in millions) Parent Subsidiary Subsidiary Consolidating Total Total operating revenues $ — $ 1,887 $ 5 $ — $ 1,892 Total operating costs and expenses (168 ) (503 ) (3 ) — (674 ) Income (loss) from operations (168 ) 1,384 2 — 1,218 Interest expense (57 ) — — — (57 ) Other, net 1,491 105 — (1,491 ) 105 Income before income taxes 1,266 1,489 2 (1,491 ) 1,266 Income tax expense (294 ) — — — (294 ) Net income $ 972 $ 1,489 $ 2 $ (1,491 ) $ 972
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2019 (in millions) Parent Subsidiary Subsidiary Consolidating Total Net cash flows provided by (used in) operating activities $ (91 ) $ 1,493 $ — $ — $ 1,402 Net cash flows used in investing activities — (1,473 ) — — (1,473 ) Net cash flows provided by (used in) financing activities 91 (20 ) — — 71 Net change in cash and cash equivalents — — — — — Cash and cash equivalents at beginning of period — — — — — Cash and cash equivalents at end of period $ — $ — $ — $ — $ — Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2018 (in millions) Parent Subsidiary Subsidiary Consolidating Total Net cash flows provided by operating activities $ 354 $ 736 $ — $ — $ 1,090 Net cash flows used in investing activities — (565 ) — — (565 ) Net cash flows used in financing activities (354 ) (116 ) — — (470 ) Net increase in cash and cash equivalents — 55 — — 55 Cash and cash equivalents at beginning of period — — — — — Cash and cash equivalents at end of period $ — $ 55 $ — $ — $ 55

Subsequent events (Tables)

Subsequent events (Tables)	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
New commodity derivative contracts	After June 30, 2019 , the Company entered into the following derivative contracts to hedge additional amounts of estimated future production: First Quarter Second Quarter Third Quarter Fourth Quarter Total Oil Price Swaps – WTI: (a) 2019: Volume (Bbl) 1,741,000 — 1,741,000 Price per Bbl $ 56.08 $ — $ 56.08 Oil Price Swaps – Brent: (b) 2019: Volume (Bbl) — 1,810,000 1,810,000 Price per Bbl $ — $ 62.48 $ 62.48 2020: Volume (Bbl) 1,001,000 1,001,000 1,012,000 1,012,000 4,026,000 Price per Bbl $ 61.03 $ 61.03 $ 61.03 $ 61.03 $ 61.03 Natural Gas Price Swaps: (c) 2020: Volume (MMBtu) 9,100,000 9,100,000 9,200,000 9,200,000 36,600,000 Price per MMBtu $ 2.45 $ 2.45 $ 2.45 $ 2.45 $ 2.45 2021: Volume (MMBtu) 7,200,000 7,280,000 7,360,000 7,360,000 29,200,000 Price per MMBtu $ 2.52 $ 2.52 $ 2.52 $ 2.52 $ 2.52 Natural Gas Basis Swaps: (d) 2019: Volume (Bbl) 2,400,000 7,360,000 9,760,000 Price per Bbl $ (0.70 ) $ (0.70 ) $ (0.70 ) 2020: Volume (MMBtu) 7,280,000 7,280,000 7,360,000 7,360,000 29,280,000 Price per MMBtu $ (1.04 ) $ (1.04 ) $ (1.04 ) $ (1.04 ) $ (1.04 ) (a) These oil derivative contracts are settled based on the NYMEX – WTI calendar-month average futures price. (b) These oil derivative contracts are settled based on the Brent calendar-month average futures price. (c) The natural gas derivative contracts are settled based on the NYMEX – Henry Hub last trading day futures price. (d) The basis differential price is between NYMEX – Henry Hub and El Paso Permian.

Supplementary information (Tabl

Supplementary information (Tables)	6 Months Ended
	Jun. 30, 2019
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Capitalized costs	Capitalized costs (in millions) June 30, December 31, Oil and natural gas properties: Proved $ 26,824 $ 24,992 Unproved 6,497 6,714 Less: accumulated depletion (11,479 ) (9,701 ) Net capitalized costs for oil and natural gas properties $ 21,842 $ 22,005
Costs incurred for oil and natural gas producing activities	Costs incurred for oil and natural gas producing activities Three Months Ended Six Months Ended (in millions) 2019 2018 2019 2018 Property acquisition costs: Proved $ — $ — $ — $ — Unproved 9 5 13 18 Exploration 435 335 897 578 Development 350 166 814 373 Total costs incurred for oil and natural gas properties $ 794 $ 506 $ 1,724 $ 969

Basis of presentation and sum_3

Basis of presentation and summary of significant accounting policies (Narrative) (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	May 31, 2019	Feb. 28, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019	Dec. 31, 2018
Significant Accounting Policies Disclosure [Line Items]
Income (loss) from equity method investments			$ 15,000,000		$ 15,000,000	$ 5,000,000
Distribution from equity method investment					0	148,000,000
Proceeds from the disposition of assets					311,000,000	261,000,000
Receivables related to contracts with customers			460,000,000		460,000,000			$ 466,000,000
Fees related to operation of jointly owned oil and natural gas properties			4,000,000	$ 5,000,000	8,000,000	$ 9,000,000
Right of use asset			32,000,000		32,000,000
Right of use asset, operating leases			17,000,000		17,000,000
Right of use asset, finance leases			15,000,000		15,000,000
Lease liabilities			$ 35,000,000		35,000,000
Accounting Standards Update 2018-01
Significant Accounting Policies Disclosure [Line Items]
Cumulative effect adjustment							$ 0
Accounting Standards Update 2016-02
Significant Accounting Policies Disclosure [Line Items]
Right of use asset							35,000,000
Right of use asset, operating leases							19,000,000
Right of use asset, finance leases							16,000,000
Lease liabilities							$ 37,000,000
Oryx Southern Delaware Holdings
Significant Accounting Policies Disclosure [Line Items]
Income (loss) from equity method investments		$ 9,000,000
Total distribution from equity method investment		157,000,000
Portion of equity method investment distribution that offset Company's net investment		54,000,000
Distribution from equity method investment		45,000,000
Remaining distribution from equity method investment		103,000,000
Proceeds from the disposition of assets					$ 289,000,000
Oryx Southern Delaware Holdings | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Significant Accounting Policies Disclosure [Line Items]
Equity method investment ownership percentage	23.75%
Percentage of interest sold	100.00%
Oryx Southern Delaware Holdings | Loans Payable
Significant Accounting Policies Disclosure [Line Items]
Face amount of debt		$ 800,000,000
Beta Holding Equity Method Investment
Significant Accounting Policies Disclosure [Line Items]
Equity method investment ownership percentage			50.00%		50.00%

RSP Acquisition (Narrative) (De

RSP Acquisition (Narrative) (Details) $ in Millions	Jul. 19, 2018USD ($)
RSP Permian
Business Acquisition [Line Items]
Consideration paid	$ 7,549

RSP Acquisition (Purchase Price

RSP Acquisition (Purchase Price Allocation) (Details) - USD ($) $ in Millions	Jul. 19, 2018	Jun. 30, 2019	Dec. 31, 2018
Fair value of assets acquired:
Implied goodwill		$ 2,222	$ 2,224
RSP Permian
Business Acquisition [Line Items]
Total purchase price	$ 7,549
Fair value of liabilities assumed:
Accounts payable – trade	48
Accrued drilling costs	79
Current derivative instruments	10
Other current liabilities	116
Long-term debt	1,758
Deferred income taxes	515
Asset retirement obligations	20
Noncurrent derivative instruments	5
Total liabilities assumed	2,551
Fair value of assets acquired:
Accounts receivable	194
Current derivative instruments	36
Other current assets	21
Proved oil and natural gas properties	4,055
Unproved oil and natural gas properties	3,565
Other property and equipment	5
Noncurrent derivative instruments	2
Implied goodwill	2,222
Total assets acquired	$ 10,100

RSP Acquisition (Schedule Of Pr

RSP Acquisition (Schedule Of Pro Forma Information) (Details) - RSP Permian - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Business Acquisition [Line Items]
Operating revenues	$ 1,262	$ 2,488
Net income	$ 238	$ 1,169
Earnings per share:
Basic net income (in dollars per share)	$ 1.19	$ 5.85
Diluted net income (in dollars per share)	$ 1.19	$ 5.83

Other acquisitions, divestitu_2

Other acquisitions, divestitures and nonmonetary transactions (Narrative) (Details) a in Thousands, $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Feb. 28, 2018USD ($)a	Jan. 31, 2018USD ($)a	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)
Business Acquisition [Line Items]
Pre-tax gain (loss)			$ (1)	$ 1	$ 0	$ 724
February 2018 Acquisition Divestiture
Business Acquisition [Line Items]
Net acreage | a	21
Fair value of acquired assets	$ 755
Book value of divested assets	$ 180
Pre-tax gain (loss)						575
February 2018 Acquisition Divestiture | Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Exchange
Business Acquisition [Line Items]
Net acreage | a	34
Delaware Basin
Business Acquisition [Line Items]
Net acreage | a		20
Pre-tax gain (loss)						134
Net proceeds from divestiture		$ 280
Nonmonetary Transactions
Business Acquisition [Line Items]
Pre-tax gain (loss)						$ 15

Stock incentive plan (Narrative

Stock incentive plan (Narrative) (Details) - shares	1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2019	Jun. 30, 2019	Jun. 30, 2019	May 16, 2019	May 15, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized				15,000,000	10,500,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)			260,537
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	212,947	212,947	212,947
Performance Shares | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	38,952
Performance Shares | Three Year Vesting Period | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Awards granted (in shares)	19,476
Vesting percentage	20.00%
Performance Shares | Five Year Vesting Period | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Awards granted (in shares)	19,476
Vesting percentage	20.00%
Other Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Minimum | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Maximum | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			10 years

Stock incentive plan (Summary O

Stock incentive plan (Summary Of Restricted Stock Shares and Performance Unit Activity) (Details) - $ / shares	1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2019	Jun. 30, 2019	Jun. 30, 2019
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of period (in shares)	1,364,699		1,364,699
Awards granted (in shares)			260,537
Awards canceled / forfeited (in shares)			(31,119)
Lapse of restrictions (in shares)			(349,594)
Outstanding at end of period (in shares)		1,244,523	1,244,523
Awards granted - weighted average grant date fair value per share / unit (in dollars per share)			$ 105.59
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of period (in shares)	218,391		218,391
Awards granted (in shares)	212,947	212,947	212,947
Awards canceled / forfeited (in shares)			0
Lapse of restrictions (in shares)			0
Outstanding at end of period (in shares)		431,338	431,338
Awards granted - weighted average grant date fair value per share / unit (in dollars per share)			$ 144.03

Stock incentive plan (Summary F

Stock incentive plan (Summary For Future Stock-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation	$ 23	$ 18	$ 47	$ 35
Remaining 2019 And Thereafter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation			117
Remaining 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation			37
2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation			48
2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation			23
2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation			4
2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation			2
2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation			1
Thereafter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation			$ 2

Disclosures about fair value _3

Disclosures about fair value measurements (Carrying Amounts And Fair Values Of The Company's Financial Instruments) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Fair Value Measurement [Domain] | 4.375% senior notes due 2025
Debt Instrument, Fair Value Disclosure [Abstract]
Interest rate	4.375%
Debt maturity year	2025
Fair Value Measurement [Domain] | 3.75% senior notes due 2027
Debt Instrument, Fair Value Disclosure [Abstract]
Interest rate	3.75%
Debt maturity year	2027
Fair Value Measurement [Domain] | 4.3% senior notes due 2028
Debt Instrument, Fair Value Disclosure [Abstract]
Interest rate	4.30%
Debt maturity year	2028
Fair Value Measurement [Domain] | 4.875% senior notes due 2047
Debt Instrument, Fair Value Disclosure [Abstract]
Interest rate	4.875%
Debt maturity year	2047
Fair Value Measurement [Domain] | 4.85% senior notes due 2048
Debt Instrument, Fair Value Disclosure [Abstract]
Interest rate	4.85%
Debt maturity year	2048
Credit facility	$ 397,000,000	$ 242,000,000
4.375% senior notes due 2025
Debt Instrument, Fair Value Disclosure [Abstract]
Face amount of debt	$ 600,000,000	$ 600,000,000
Interest rate	4.375%	4.375%
Debt maturity year	2025
3.75% senior notes due 2027
Debt Instrument, Fair Value Disclosure [Abstract]
Face amount of debt	$ 1,000,000,000	$ 1,000,000,000
Interest rate	3.75%	3.75%
Debt maturity year	2027
4.3% senior notes due 2028
Debt Instrument, Fair Value Disclosure [Abstract]
Face amount of debt	$ 1,000,000,000	$ 1,000,000,000
Interest rate	4.30%	4.30%
Debt maturity year	2028
4.875% senior notes due 2047
Debt Instrument, Fair Value Disclosure [Abstract]
Face amount of debt	$ 800,000,000	$ 800,000,000
Interest rate	4.875%	4.875%
Debt maturity year	2047
4.85% senior notes due 2048
Debt Instrument, Fair Value Disclosure [Abstract]
Face amount of debt	$ 600,000,000	$ 600,000,000
Interest rate	4.85%	4.85%
Debt maturity year	2048
Carrying Value
Derivative Instruments, Assets [Abstract]
Derivative instruments, assets	$ 41,000,000	$ 695,000,000
Derivative Instruments, Liabilities [Abstract]
Derivative instruments, liabilities	138,000,000	0
Debt Instrument, Fair Value Disclosure [Abstract]
Credit facility	397,000,000	242,000,000
Carrying Value | 4.375% senior notes due 2025
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	594,000,000	594,000,000
Carrying Value | 3.75% senior notes due 2027
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	989,000,000	989,000,000
Carrying Value | 4.3% senior notes due 2028
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	989,000,000	988,000,000
Carrying Value | 4.875% senior notes due 2047
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	789,000,000	789,000,000
Carrying Value | 4.85% senior notes due 2048
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	592,000,000	592,000,000
Fair Value
Derivative Instruments, Assets [Abstract]
Derivative instruments, assets	41,000,000	695,000,000
Derivative Instruments, Liabilities [Abstract]
Derivative instruments, liabilities	138,000,000	0
Debt Instrument, Fair Value Disclosure [Abstract]
Credit facility	397,000,000	242,000,000
Fair Value | 4.375% senior notes due 2025
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	624,000,000	591,000,000
Fair Value | 3.75% senior notes due 2027
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	1,033,000,000	939,000,000
Fair Value | 4.3% senior notes due 2028
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	1,081,000,000	980,000,000
Fair Value | 4.875% senior notes due 2047
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	896,000,000	761,000,000
Fair Value | 4.85% senior notes due 2048
Debt Instrument, Fair Value Disclosure [Abstract]
Senior notes	$ 675,000,000	$ 573,000,000

Disclosures about fair value _4

Disclosures about fair value measurements (Company's Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Liabilities:
Net derivative instruments	$ (97)	$ 695
Commodity Derivative | Derivative Asset Current
Assets:
Derivative asset, fair value, gross asset	109	543
Derivative asset, fair value, gross liability	(97)	(59)
Derivative asset, fair value, amount not offset against collateral	12	484
Commodity Derivative | Derivative Asset Noncurrent
Assets:
Derivative asset, fair value, gross asset	58	243
Derivative asset, fair value, gross liability	(29)	(32)
Derivative asset, fair value, amount not offset against collateral	29	211
Commodity Derivative | Derivative Liability Current
Liabilities:
Derivative liability, fair value, gross liability	(223)	(59)
Derivative liability, fair value, gross asset	97	59
Derivative liability, fair value, amount not offset against collateral	(126)	0
Commodity Derivative | Derivative Liability Noncurrent
Liabilities:
Derivative liability, fair value, gross liability	(41)	(32)
Derivative liability, fair value, gross asset	29	32
Derivative liability, fair value, amount not offset against collateral	(12)	0
Fair Value, Inputs, Level 1
Liabilities:
Net derivative instruments	0	0
Fair Value, Inputs, Level 1 | Commodity Derivative | Derivative Asset Current
Assets:
Derivative asset, fair value, gross asset	0	0
Fair Value, Inputs, Level 1 | Commodity Derivative | Derivative Asset Noncurrent
Assets:
Derivative asset, fair value, gross asset	0	0
Fair Value, Inputs, Level 1 | Commodity Derivative | Derivative Liability Current
Liabilities:
Derivative liability, fair value, gross liability	0	0
Fair Value, Inputs, Level 1 | Commodity Derivative | Derivative Liability Noncurrent
Liabilities:
Derivative liability, fair value, gross liability	0	0
Fair Value, Inputs, Level 2
Liabilities:
Net derivative instruments	(97)	695
Fair Value, Inputs, Level 2 | Commodity Derivative | Derivative Asset Current
Assets:
Derivative asset, fair value, gross asset	109	543
Fair Value, Inputs, Level 2 | Commodity Derivative | Derivative Asset Noncurrent
Assets:
Derivative asset, fair value, gross asset	58	243
Fair Value, Inputs, Level 2 | Commodity Derivative | Derivative Liability Current
Liabilities:
Derivative liability, fair value, gross liability	(223)	(59)
Fair Value, Inputs, Level 2 | Commodity Derivative | Derivative Liability Noncurrent
Liabilities:
Derivative liability, fair value, gross liability	(41)	(32)
Fair Value, Inputs, Level 3
Liabilities:
Net derivative instruments	0	0
Fair Value, Inputs, Level 3 | Commodity Derivative | Derivative Asset Current
Assets:
Derivative asset, fair value, gross asset	0	0
Fair Value, Inputs, Level 3 | Commodity Derivative | Derivative Asset Noncurrent
Assets:
Derivative asset, fair value, gross asset	0	0
Fair Value, Inputs, Level 3 | Commodity Derivative | Derivative Liability Current
Liabilities:
Derivative liability, fair value, gross liability	0	0
Fair Value, Inputs, Level 3 | Commodity Derivative | Derivative Liability Noncurrent
Liabilities:
Derivative liability, fair value, gross liability	$ 0	$ 0

Disclosures about fair value _5

Disclosures about fair value measurements Disclosures about fair value measurements (Narrative) (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2026$ / Mcf$ / bbl	Dec. 31, 2022$ / bbl	Dec. 31, 2019$ / Mcf$ / bbl
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impairments of long-lived assets | $	$ 868	$ 0	$ 868	$ 0
Inflation rate estimate	0.02		0.02
Annual discount rate	10.00%		10.00%
Scenario, Forecast | Valuation Technique, Undiscounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Management estimates of future oil price | $ / bbl					54.47	53.58	58.32
Management estimates of future natural gas price | $ / Mcf					2.99		2.38
Scenario, Forecast | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Management estimates of future oil price | $ / bbl					62.06		58.32
Management estimates of future natural gas price | $ / Mcf					3		2.38

Derivative financial instrume_3

Derivative financial instruments (Summary Of The Gains And Losses Reported In Earnings Related To The Commodity Derivative Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity And Interest Rate Derivative Instruments [Line Items]
Gain (loss) on derivatives	$ 217	$ (133)	$ (842)	$ (168)
Net cash receipts from (payments on) derivatives	(50)	(82)	(50)	(194)
Oil Commodity Derivative
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity And Interest Rate Derivative Instruments [Line Items]
Gain (loss) on derivatives	195	(128)	(861)	(161)
Net cash receipts from (payments on) derivatives	(54)	(86)	(51)	(199)
Natural Gas Commodity Derivative
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity And Interest Rate Derivative Instruments [Line Items]
Gain (loss) on derivatives	22	(5)	19	(7)
Net cash receipts from (payments on) derivatives	$ 4	$ 4	$ 1	$ 5

Derivative financial instrume_4

Derivative financial instruments (Outstanding Commodity Derivative Contracts) (Details)	6 Months Ended
	Jun. 30, 2019MMBTU$ / MMBTU$ / bblbbl
Oil Price Swaps 2019
Derivative [Line Items]
Volume (in Bbls) | bbl	27,342,000
Price (in dollars per unit)	56.87
Oil Price Swaps Q3 2019
Derivative [Line Items]
Volume (in Bbls) | bbl	14,829,000
Price (in dollars per unit)	57.06
Oil Price Swaps Q4 2019
Derivative [Line Items]
Volume (in Bbls) | bbl	12,513,000
Price (in dollars per unit)	56.65
Oil Price Swaps 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	40,080,500
Price (in dollars per unit)	57.27
Oil Price Swaps Q1 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	11,243,000
Price (in dollars per unit)	57.48
Oil Price Swaps Q2 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	10,166,500
Price (in dollars per unit)	57.24
Oil Price Swaps Q3 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	9,453,000
Price (in dollars per unit)	57.18
Oil Price Swaps Q4 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	9,218,000
Price (in dollars per unit)	57.14
Oil Price Swaps 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	13,137,000
Price (in dollars per unit)	55.33
Oil Price Swaps Q1 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	3,330,000
Price (in dollars per unit)	55.33
Oil Price Swaps Q2 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	3,367,000
Price (in dollars per unit)	55.33
Oil Price Swaps Q3 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	3,220,000
Price (in dollars per unit)	55.33
Oil Price Swaps Q4 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	3,220,000
Price (in dollars per unit)	55.33
Oil Costless Collars 2019
Derivative [Line Items]
Volume (in Bbls) | bbl	2,193,000
Oil Costless Collars 2019 | Minimum
Derivative [Line Items]
Price (in dollars per unit)	55.60
Oil Costless Collars 2019 | Maximum
Derivative [Line Items]
Price (in dollars per unit)	63.22
Oil Costless Collars Q3 2019
Derivative [Line Items]
Volume (in Bbls) | bbl	1,135,000
Oil Costless Collars Q3 2019 | Minimum
Derivative [Line Items]
Price (in dollars per unit)	55.74
Oil Costless Collars Q3 2019 | Maximum
Derivative [Line Items]
Price (in dollars per unit)	63.47
Oil Costless Collars Q4 2019
Derivative [Line Items]
Volume (in Bbls) | bbl	1,058,000
Oil Costless Collars Q4 2019 | Minimum
Derivative [Line Items]
Price (in dollars per unit)	55.43
Oil Costless Collars Q4 2019 | Maximum
Derivative [Line Items]
Price (in dollars per unit)	62.95
Oil Basis Swaps 2019
Derivative [Line Items]
Volume (in Bbls) | bbl	31,831,000
Price (in dollars per unit)	(2.25)
Oil Basis Swaps Q3 2019
Derivative [Line Items]
Volume (in Bbls) | bbl	15,778,000
Price (in dollars per unit)	(2.32)
Oil Basis Swaps Q4 2019
Derivative [Line Items]
Volume (in Bbls) | bbl	16,053,000
Price (in dollars per unit)	(2.19)
Oil Basis Swaps 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	45,083,000
Price (in dollars per unit)	(0.63)
Oil Basis Swaps Q1 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	14,651,000
Price (in dollars per unit)	(0.46)
Oil Basis Swaps Q2 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	10,192,000
Price (in dollars per unit)	(0.70)
Oil Basis Swaps Q3 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	10,120,000
Price (in dollars per unit)	(0.71)
Oil Basis Swaps Q4 2020
Derivative [Line Items]
Volume (in Bbls) | bbl	10,120,000
Price (in dollars per unit)	(0.71)
Oil Basis Swaps 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	14,600,000
Price (in dollars per unit)	0.57
Oil Basis Swaps Q1 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	3,600,000
Price (in dollars per unit)	0.57
Oil Basis Swaps Q2 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	3,640,000
Price (in dollars per unit)	0.57
Oil Basis Swaps Q3 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	3,680,000
Price (in dollars per unit)	0.57
Oil Basis Swaps Q4 2021
Derivative [Line Items]
Volume (in Bbls) | bbl	3,680,000
Price (in dollars per unit)	0.57
Natural Gas Price Swaps 2019
Derivative [Line Items]
Energy (in MMBTUs) | MMBTU	34,508,072
Price (in dollars per unit) | $ / MMBTU	2.87
Natural Gas Price Swaps Q3 2019
Derivative [Line Items]
Energy (in MMBTUs) | MMBTU	17,298,537
Price (in dollars per unit) | $ / MMBTU	2.87
Natural Gas Price Swaps Q4 2019
Derivative [Line Items]
Energy (in MMBTUs) | MMBTU	17,209,535
Price (in dollars per unit) | $ / MMBTU	2.87
Natural Gas Price Swaps 2020
Derivative [Line Items]
Energy (in MMBTUs) | MMBTU	24,703,000
Price (in dollars per unit) | $ / MMBTU	2.70
Natural Gas Price Swaps Q1 2020
Derivative [Line Items]
Energy (in MMBTUs) | MMBTU	6,233,500
Price (in dollars per unit) | $ / MMBTU	2.70
Natural Gas Price Swaps Q2 2020
Derivative [Line Items]
Energy (in MMBTUs) | MMBTU	6,233,500
Price (in dollars per unit) | $ / MMBTU	2.70
Natural Gas Price Swaps Q3 2020
Derivative [Line Items]
Energy (in MMBTUs) | MMBTU	6,118,000
Price (in dollars per unit) | $ / MMBTU	2.70
Natural Gas Price Swaps Q4 2020
Derivative [Line Items]
Energy (in MMBTUs) | MMBTU	6,118,000
Price (in dollars per unit) | $ / MMBTU	2.70

Debt (Summary Of Long-Term Debt

Debt (Summary Of Long-Term Debt) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Credit facility due 2022	$ 397,000,000	$ 242,000,000
Unamortized original issue discount	(10,000,000)	(10,000,000)
Senior notes issuance costs, net	(37,000,000)	(38,000,000)
Less: current portion	0	0
Total long-term debt	4,350,000,000	4,194,000,000
4.375% senior notes due 2025
Debt Instrument [Line Items]
Unsecured senior notes	$ 600,000,000	$ 600,000,000
Interest rate	4.375%	4.375%
Debt maturity year	2025
4.375% senior notes due 2025 | January 15, 2020
Debt Instrument [Line Items]
Callable price	103.281%
4.375% senior notes due 2025 | January 15, 2021
Debt Instrument [Line Items]
Callable price	102.188%
4.375% senior notes due 2025 | January 15, 2022
Debt Instrument [Line Items]
Callable price	101.094%
4.375% senior notes due 2025 | January 15, 2023
Debt Instrument [Line Items]
Callable price	100.00%
3.75% senior notes due 2027
Debt Instrument [Line Items]
Unsecured senior notes	$ 1,000,000,000	$ 1,000,000,000
Interest rate	3.75%	3.75%
Debt maturity year	2027
4.3% senior notes due 2028
Debt Instrument [Line Items]
Unsecured senior notes	$ 1,000,000,000	$ 1,000,000,000
Interest rate	4.30%	4.30%
Debt maturity year	2028
4.875% senior notes due 2047
Debt Instrument [Line Items]
Unsecured senior notes	$ 800,000,000	$ 800,000,000
Interest rate	4.875%	4.875%
Debt maturity year	2047
4.85% senior notes due 2048
Debt Instrument [Line Items]
Unsecured senior notes	$ 600,000,000	$ 600,000,000
Interest rate	4.85%	4.85%
Debt maturity year	2048

Debt (Narrative) (Details)

Debt (Narrative) (Details) - Credit Facility $ in Billions	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Debt Disclosure [Line Items]
Aggregate lender commitments	$ 2	$ 2
Unused lender commitments	$ 1.6	$ 1.6
Weighted average interest rate	4.30%	4.40%

Debt (Summary Of Interest Expen

Debt (Summary Of Interest Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt Disclosure [Abstract]
Cash payments for interest	$ 46	$ 42	$ 109	$ 60
Non-cash interest	2	2	3	3
Net changes in accruals	5	(15)	(8)	(3)
Interest costs incurred	53	29	104	60
Less: capitalized interest	(5)	(2)	(9)	(3)
Total interest expense	$ 48	$ 27	$ 95	$ 57

Commitments and contingencies_2

Commitments and contingencies (Summary Of The Company's Future Commitments) (Details) $ in Millions	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining 2019	$ 20
2020	70
2021	77
2022	38
2023	35
2024	36
Thereafter	103
Total	$ 379

Commitments and contingencies_3

Commitments and contingencies (Oil And Natural Gas Delivery Commitments) (Details) bbl in Millions, Mcf in Millions	6 Months Ended
	Jun. 30, 2019bblMcf
Oil (MMBbl)
Long-term Purchase Commitment [Line Items]
Remaining 2019 | bbl	7
2020 | bbl	32
2021 | bbl	37
2022 | bbl	41
2023 | bbl	33
2024 | bbl	33
Thereafter | bbl	114
Total | bbl	297
Natural Gas (MMcf)
Long-term Purchase Commitment [Line Items]
Remaining 2019 | Mcf	1,582
2020 | Mcf	4,792
2021 | Mcf	18,931
2022 | Mcf	16,425
2023 | Mcf	16,425
2024 | Mcf	16,470
Thereafter | Mcf	32,850
Total | Mcf	107,475

Commitments and contingencies_4

Commitments and contingencies (Narrative) (Details) bbl / d in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)bbl / d	Jun. 30, 2018USD ($)
Commitments [Line Items]
Undiscounted lease payments	$ 15,000,000		$ 15,000,000
Estimated lease incentives	5,000,000		5,000,000
Gross lease cost related to short-term leases	90,000,000		184,000,000
Short-term lease costs capitalized	$ 64,000,000		$ 131,000,000
Operating leases, lease payments		$ 3,000,000		$ 6,000,000
January 2019 Commitment
Commitments [Line Items]
Commitment term			5 years
Daily production commitment (barrels per day) | bbl / d			50

Commitments and contingencies_5

Commitments and contingencies (Supplemental Balance Sheet Information Related To Leases) (Details) $ in Millions	Jun. 30, 2019USD ($)
Assets
Operating lease right-of-use assets	$ 17
Finance lease right-of-use assets	15
Total lease right-of-use assets	32
Current:
Operating	7
Finance	6
Noncurrent:
Operating	12
Finance	10
Total lease liabilities	$ 35

Commitments and contingencies_6

Commitments and contingencies (Components Of Lease Expense) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 2	$ 4
Finance lease cost	2	4
Total lease cost	$ 4	$ 8

Commitments and contingencies_7

Commitments and contingencies (Supplemental Cash Flow Information Related To Leases) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$ 4
Financing cash flows from finance leases	4
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	1
Finance leases	$ 4

Commitments and contingencies_8

Commitments and contingencies (Lease Terms And Discount Rates Related To Leases) (Details)	Jun. 30, 2019
Weighted average remaining lease term (years):
Operating leases	3 years 2 months 12 days
Finance leases	2 years 9 months 18 days
Weighted average discount rate:
Operating leases	4.90%
Finance leases	4.40%

Commitments and contingencies_9

Commitments and contingencies (Maturity Of Lease Liabilities) (Details) $ in Millions	Jun. 30, 2019USD ($)
Operating Leases
Remaining 2019	$ 4
2020	8
2021	7
2022	1
2023	0
Thereafter	1
Total lease payments	21
Less: interest	(2)
Present value of lease liabilities	19
Finance Leases
Remaining 2019	3
2020	6
2021	5
2022	2
2023	1
Thereafter	0
Total lease payments	17
Less: interest	(1)
Present value of lease liabilities	$ 16

Commitments and contingencie_10

Commitments and contingencies (Future Minimum Lease Commitments Under Non-Cancellable Operating Leases) (Details) $ in Millions	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 14
2020	12
2021	10
2022	3
2023	0
Thereafter	1
Total	$ 40

Income taxes (Narrative) (Detai

Income taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (53)	$ 40	$ (247)	$ 294
Effective tax rate	35.00%	23.00%	24.00%	23.00%
Discrete income tax benefit			$ (1)	$ (3)
Deferred state tax expense (benefit)	$ (6)		(6)
Unrecognized tax benefits that would impact effective tax rate					$ 63
Increase in unrecognized tax benefits for current year			$ 16

Related party transactions (Nar

Related party transactions (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Director
Related Party Transaction [Line Items]
Ownership interest in partnership			3.50%
Amounts paid	$ 2	$ 3	$ 4	$ 4
Affiliated Entity
Related Party Transaction [Line Items]
Amounts paid	$ 11		$ 15

Earnings per share (Reconciliat

Earnings per share (Reconciliation Of Earnings Attributable To Common Shares Basic And Diluted) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Net income (loss)	$ (97)	$ 137	$ (792)	$ 972
Participating basic earnings	0	(1)	0	(8)
Basic earnings (loss) attributable to common stockholders	(97)	136	(792)	964
Reallocation of participating earnings	0	0	0	0
Diluted earnings (loss) attributable to common stockholders	$ (97)	$ 136	$ (792)	$ 964

Earnings per share (Reconcili_2

Earnings per share (Reconciliation Of The Weighted Average Common Shares Outstanding) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Basic	199,185	147,938	199,184	147,931
Dilutive performance units	0	177	0	357
Diluted	199,185	148,115	199,184	148,288

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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Performance Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Performance units	431	218	430	109

Earnings per share (Narrative)

Earnings per share (Narrative) (Details) - Performance Shares	6 Months Ended
	Jun. 30, 2019
Minimum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Vesting period	3 years
Vesting percentage	0.00%
Maximum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Vesting period	5 years
Vesting percentage	300.00%

Subsidiary guarantors (Condense

Subsidiary guarantors (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Accounts receivable - related parties	$ 0		$ 0
Other current assets	860		1,409
Oil and natural gas properties, net	21,842		22,005
Property and equipment, net	374		308
Investment in subsidiaries	0		0
Goodwill	2,222		2,224
Other long-term assets	180		348
Total assets	25,478		26,294
LIABILITIES AND EQUITY
Accounts payable - related parties	0		0
Other current liabilities	1,403		1,356
Long-term debt	4,350		4,194
Other long-term liabilities	1,766		1,976
Equity	17,959	$ 18,059	18,768	$ 9,891	$ 9,738	$ 8,915
Total liabilities and stockholders’ equity	25,478		26,294
Consolidating Entries
ASSETS
Accounts receivable - related parties	(18,181)		(18,155)
Other current assets	0		0
Oil and natural gas properties, net	0		0
Property and equipment, net	0		0
Investment in subsidiaries	(5,310)		(5,411)
Goodwill	0		0
Other long-term assets	0		0
Total assets	(23,491)		(23,566)
LIABILITIES AND EQUITY
Accounts payable - related parties	(18,181)		(18,155)
Other current liabilities	0		0
Long-term debt	0		0
Other long-term liabilities	0		0
Equity	(5,310)		(5,411)
Total liabilities and stockholders’ equity	(23,491)		(23,566)
Parent Company | Reportable Legal Entities
ASSETS
Accounts receivable - related parties	18,181		18,155
Other current assets	25		534
Oil and natural gas properties, net	0		0
Property and equipment, net	0		0
Investment in subsidiaries	5,310		5,411
Goodwill	0		0
Other long-term assets	43		224
Total assets	23,559		24,324
LIABILITIES AND EQUITY
Accounts payable - related parties	0		0
Other current liabilities	192		70
Long-term debt	4,350		4,194
Other long-term liabilities	1,058		1,292
Equity	17,959		18,768
Total liabilities and stockholders’ equity	23,559		24,324
Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Accounts receivable - related parties	0		0
Other current assets	835		875
Oil and natural gas properties, net	21,826		21,988
Property and equipment, net	374		308
Investment in subsidiaries	0		0
Goodwill	2,222		2,224
Other long-term assets	137		124
Total assets	25,394		25,519
LIABILITIES AND EQUITY
Accounts payable - related parties	18,165		18,138
Other current liabilities	1,211		1,286
Long-term debt	0		0
Other long-term liabilities	708		684
Equity	5,310		5,411
Total liabilities and stockholders’ equity	25,394		25,519
Non-Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Accounts receivable - related parties	0		0
Other current assets	0		0
Oil and natural gas properties, net	16		17
Property and equipment, net	0		0
Investment in subsidiaries	0		0
Goodwill	0		0
Other long-term assets	0		0
Total assets	16		17
LIABILITIES AND EQUITY
Accounts payable - related parties	16		17
Other current liabilities	0		0
Long-term debt	0		0
Other long-term liabilities	0		0
Equity	0		0
Total liabilities and stockholders’ equity	$ 16		$ 17

Subsidiary guarantors (Conden_2

Subsidiary guarantors (Condensed Consolidating Statement Of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Condensed Consolidating Statement of Operations
Total operating revenues	$ 1,127	$ 945	$ 2,231	$ 1,892
Total operating costs and expenses	(1,532)	(742)	(3,482)	(674)
Income (loss) from operations	(405)	203	(1,251)	1,218
Interest expense	(48)	(27)	(95)	(57)
Other, net	303	1	307	105
Income (loss) before income taxes	(150)	177	(1,039)	1,266
Income tax (expense) benefit	53	(40)	247	(294)
Net income (loss)	(97)	137	(792)	972
Consolidating Entries
Condensed Consolidating Statement of Operations
Total 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
Other, net	319	(338)	101	(1,491)
Income (loss) before income taxes	319	(338)	101	(1,491)
Income tax (expense) benefit	0	0	0	0
Net income (loss)	319	(338)	101	(1,491)
Parent Company | Reportable Legal Entities
Condensed Consolidating Statement of Operations
Total operating revenues	0	0	0	0
Total operating costs and expenses	217	(134)	(843)	(168)
Income (loss) from operations	217	(134)	(843)	(168)
Interest expense	(48)	(27)	(95)	(57)
Other, net	(319)	338	(101)	1,491
Income (loss) before income taxes	(150)	177	(1,039)	1,266
Income tax (expense) benefit	53	(40)	247	(294)
Net income (loss)	(97)	137	(792)	972
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Operations
Total operating revenues	1,127	945	2,231	1,887
Total operating costs and expenses	(1,749)	(608)	(2,639)	(503)
Income (loss) from operations	(622)	337	(408)	1,384
Interest expense	0	0	0	0
Other, net	303	1	307	105
Income (loss) before income taxes	(319)	338	(101)	1,489
Income tax (expense) benefit	0	0	0	0
Net income (loss)	(319)	338	(101)	1,489
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Operations
Total operating revenues	0	0	0	5
Total operating costs and expenses	0	0	0	(3)
Income (loss) from operations	0	0	0	2
Interest expense	0	0	0	0
Other, net	0	0	0	0
Income (loss) before income taxes	0	0	0	2
Income tax (expense) benefit	0	0	0	0
Net income (loss)	$ 0	$ 0	$ 0	$ 2

Subsidiary guarantors (Conden_3

Subsidiary guarantors (Condensed Consolidating Statement Of Cash Flows) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Condensed Consolidating Statement of Operations
Net cash provided by (used in) operating activities	$ 1,402	$ 1,090
Net cash flows provided by (used in) investing activities	(1,473)	(565)
Net cash flows provided by (used in) financing activities	71	(470)
Net increase (decrease) in cash and cash equivalents	0	55
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	55
Consolidating Entries
Condensed Consolidating Statement of Operations
Net cash 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 | Reportable Legal Entities
Condensed Consolidating Statement of Operations
Net cash provided by (used in) operating activities	(91)	354
Net cash flows provided by (used in) investing activities	0	0
Net cash flows provided by (used in) financing activities	91	(354)
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 | Reportable Legal Entities
Condensed Consolidating Statement of Operations
Net cash provided by (used in) operating activities	1,493	736
Net cash flows provided by (used in) investing activities	(1,473)	(565)
Net cash flows provided by (used in) financing activities	(20)	(116)
Net increase (decrease) in cash and cash equivalents	0	55
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	55
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Operations
Net cash 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

Subsequent events (Narrative) (

Subsequent events (Narrative) (Details) - Subsequent Event - $ / shares	Jul. 31, 2019	Jul. 30, 2019
Subsequent Event [Line Items]
Dividends declared, amount per share (in dollars per share)		$ 0.125
Solaris Midstream Holdings
Subsequent Event [Line Items]
Equity method investment ownership percentage	20.00%

Subsequent events (New Commodit

Subsequent events (New Commodity Derivative Contracts) (Details)	Aug. 01, 2019MMBTU$ / MMBTU$ / bblbbl	Jun. 30, 2019MMBTU$ / MMBTU$ / bblbbl
Oil Price Swaps 2019
Subsequent Event [Line Items]
Volume (in Bbls) | bbl		27,342,000
Price (in dollars per unit) | $ / bbl		56.87
Oil Price Swaps Q3 2019
Subsequent Event [Line Items]
Volume (in Bbls) | bbl		14,829,000
Price (in dollars per unit) | $ / bbl		57.06
Oil Price Swaps Q4 2019
Subsequent Event [Line Items]
Volume (in Bbls) | bbl		12,513,000
Price (in dollars per unit) | $ / bbl		56.65
Oil Price Swaps 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl		40,080,500
Price (in dollars per unit) | $ / bbl		57.27
Oil Price Swaps Q1 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl		11,243,000
Price (in dollars per unit) | $ / bbl		57.48
Oil Price Swaps Q2 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl		10,166,500
Price (in dollars per unit) | $ / bbl		57.24
Oil Price Swaps Q3 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl		9,453,000
Price (in dollars per unit) | $ / bbl		57.18
Oil Price Swaps Q4 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl		9,218,000
Price (in dollars per unit) | $ / bbl		57.14
Natural Gas Price Swaps 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU		2.70
Energy (in MMBTUs) | MMBTU		24,703,000
Natural Gas Price Swaps Q1 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU		2.70
Energy (in MMBTUs) | MMBTU		6,233,500
Natural Gas Price Swaps Q2 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU		2.70
Energy (in MMBTUs) | MMBTU		6,233,500
Natural Gas Price Swaps Q3 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU		2.70
Energy (in MMBTUs) | MMBTU		6,118,000
Natural Gas Price Swaps Q4 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU		2.70
Energy (in MMBTUs) | MMBTU		6,118,000
Subsequent Event | Natural Gas Basis Swaps 2019
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	(0.70)
Energy (in MMBTUs) | MMBTU	9,760,000
Subsequent Event | Natural Gas Basis Swaps Q3 2019
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	(0.70)
Energy (in MMBTUs) | MMBTU	2,400,000
Subsequent Event | Natural Gas Basis Swaps Q4 2019
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	(0.70)
Energy (in MMBTUs) | MMBTU	7,360,000
Subsequent Event | Natural Gas Price Swaps 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.45
Energy (in MMBTUs) | MMBTU	36,600,000
Subsequent Event | Natural Gas Price Swaps Q1 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.45
Energy (in MMBTUs) | MMBTU	9,100,000
Subsequent Event | Natural Gas Price Swaps Q2 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.45
Energy (in MMBTUs) | MMBTU	9,100,000
Subsequent Event | Natural Gas Price Swaps Q3 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.45
Energy (in MMBTUs) | MMBTU	9,200,000
Subsequent Event | Natural Gas Price Swaps Q4 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.45
Energy (in MMBTUs) | MMBTU	9,200,000
Subsequent Event | Natural Gas Price Swaps 2021
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.52
Energy (in MMBTUs) | MMBTU	29,200,000
Subsequent Event | Natural Gas Price Swaps Q1 2021
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.52
Energy (in MMBTUs) | MMBTU	7,200,000
Subsequent Event | Natural Gas Price Swaps Q2 2021
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.52
Energy (in MMBTUs) | MMBTU	7,280,000
Subsequent Event | Natural Gas Price Swaps Q3 2021
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.52
Energy (in MMBTUs) | MMBTU	7,360,000
Subsequent Event | Natural Gas Price Swaps Q4 2021
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	2.52
Energy (in MMBTUs) | MMBTU	7,360,000
Subsequent Event | Natural Gas Basis Swaps 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	(1.04)
Energy (in MMBTUs) | MMBTU	29,280,000
Subsequent Event | Natural Gas Basis Swaps Q1 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	(1.04)
Energy (in MMBTUs) | MMBTU	7,280,000
Subsequent Event | Natural Gas Basis Swaps Q2 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	(1.04)
Energy (in MMBTUs) | MMBTU	7,280,000
Subsequent Event | Natural Gas Basis Swaps Q3 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	(1.04)
Energy (in MMBTUs) | MMBTU	7,360,000
Subsequent Event | Natural Gas Basis Swaps Q4 2020
Subsequent Event [Line Items]
Price (in dollars per unit) | $ / MMBTU	(1.04)
Energy (in MMBTUs) | MMBTU	7,360,000
WTI Price Base | Subsequent Event | Oil Price Swaps 2019
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	1,741,000
Price (in dollars per unit) | $ / bbl	56.08
WTI Price Base | Subsequent Event | Oil Price Swaps Q3 2019
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	1,741,000
Price (in dollars per unit) | $ / bbl	56.08
WTI Price Base | Subsequent Event | Oil Price Swaps Q4 2019
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	0
Price (in dollars per unit) | $ / bbl	0
Brent Price Base | Subsequent Event | Oil Price Swaps 2019
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	1,810,000
Price (in dollars per unit) | $ / bbl	62.48
Brent Price Base | Subsequent Event | Oil Price Swaps Q3 2019
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	0
Price (in dollars per unit) | $ / bbl	0
Brent Price Base | Subsequent Event | Oil Price Swaps Q4 2019
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	1,810,000
Price (in dollars per unit) | $ / bbl	62.48
Brent Price Base | Subsequent Event | Oil Price Swaps 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	4,026,000
Price (in dollars per unit) | $ / bbl	61.03
Brent Price Base | Subsequent Event | Oil Price Swaps Q1 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	1,001,000
Price (in dollars per unit) | $ / bbl	61.03
Brent Price Base | Subsequent Event | Oil Price Swaps Q2 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	1,001,000
Price (in dollars per unit) | $ / bbl	61.03
Brent Price Base | Subsequent Event | Oil Price Swaps Q3 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	1,012,000
Price (in dollars per unit) | $ / bbl	61.03
Brent Price Base | Subsequent Event | Oil Price Swaps Q4 2020
Subsequent Event [Line Items]
Volume (in Bbls) | bbl	1,012,000
Price (in dollars per unit) | $ / bbl	61.03

Supplementary information (Capi

Supplementary information (Capitalized Costs) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Proved	$ 26,824	$ 24,992
Unproved	6,497	6,714
Less: accumulated depletion	(11,479)	(9,701)
Net capitalized costs for oil and natural gas properties	$ 21,842	$ 22,005

Supplementary information (Cost

Supplementary information (Costs Incurred For Oil And Natural Gas Producing Activities) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Proved	$ 0	$ 0	$ 0	$ 0
Unproved	9	5	13	18
Exploration	435	335	897	578
Development	350	166	814	373
Total costs incurred for oil and natural gas properties	$ 794	$ 506	$ 1,724	$ 969