Pro forma diluted earnings per share (in dollars per share)

[Table of Contents](#i1852a2ea91e948d98ea7c44fc3e188ea_7)from the results reflected in the following pro forma information because of normal production declines, changes in commodity prices, future acquisitions and divestitures, future development and exploration activities and other factors.

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| (In millions, except per share amounts) |  | Six Months Ended June 30, 2021 |
| Pro forma revenue |  | $ | 1,802  |  |  |  |
| Pro forma net income |  | 71  |  |  |  |
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| Pro forma basic earnings per share |  | $ | 0.09  |  |  |  |
| Pro forma diluted earnings per share |  | $ | 0.09  |  |  |  |

3. Properties and Equipment, NetProperties and equipment, net are comprised of the following:

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| (In millions) |  | June 30,2022 |  | December 31,2021 |
| Proved oil and gas properties |  | $ | 16,102  |  |  | $ | 15,340  |  |
| Unproved oil and gas properties  |  | 5,292  |  |  | 5,316  |  |
| Gathering and pipeline systems |  | 423  |  |  | 395  |  |
| Land, buildings and other equipment  |  | 144  |  |  | 140  |  |
| Finance lease right-of-use asset |  | 24  |  |  | 20  |  |
|  |  | 21,985  |  |  | 21,211  |  |
| Accumulated depreciation, depletion and amortization |  | (4,578) |  |  | (3,836) |  |
|   |  | $ | 17,407  |  |  | $ | 17,375  |  |

Capitalized Exploratory Well CostsAs of June 30, 2022, the Company did not have any projects with exploratory well costs capitalized for a period of greater than one year after drilling.4. Debt and Credit AgreementsThe Company’s debt and credit agreements consisted of the following:

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| (In millions) |  | June 30,2022 |  | December 31,2021 |
| 6.51% weighted-average private placement senior notes (1) |  | $ | 37  |  |  | $ | 37  |  |
| 5.58% weighted-average private placement senior notes (2) |  | 87  |  |  | 87  |  |
| 3.65% weighted-average private placement senior notes |  | 825  |  |  | 825  |  |
| 4.375% senior notes due June 1, 2024 |  | 750  |  |  | 750  |  |
| 3.90% senior notes due May 15, 2027 |  | 750  |  |  | 750  |  |
| 4.375% senior notes due March 15, 2029 |  | 500  |  |  | 500  |  |
| Revolving credit facility |  | —  |  |  | —  |  |
| Net premium (discount) |  | 164  |  |  | 185  |  |
| Unamortized debt issuance costs |  | (8) |  |  | (9) |  |
|  |  | $ | 3,105  |  |  | $ | 3,125  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1) Includes $37 million of current portion of long-term debt at June 30, 2022.(2) Includes $87 million of current portion of long-term debt at June 30, 2022.At June 30, 2022, the Company was in compliance with all financial and other covenants for both its revolving credit facility and senior notes. 8
