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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549 
Form 10-Q 
 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarter ended September 30, 2022
or
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     
Commission File Number 1-1204 
HESS CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation or Organization)
13-4921002
(I.R.S. Employer Identification Number)

1185 AVENUE OF THE AMERICAS, NEW YORK, NY
(Address of Principal Executive Offices)
10036
(Zip Code)
(Registrant’s Telephone Number, Including Area Code is (212) 997-8500)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of exchange on which registered
Common StockHESNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ý    No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ý    No  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer   Accelerated filer 
Non-accelerated filer   Smaller reporting company 
Emerging growth company     
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes    No  ý
At September 30, 2022, there were 308,308,466 shares of Common Stock outstanding.




HESS CORPORATION
Form 10-Q
TABLE OF CONTENTS
 
Item
No.
 Page
Number
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
   
  
2.
 
 
Unless the context indicates otherwise, references to “Hess”, the “Corporation”, “Registrant”, “we”, “us”, “our” and “its” refer to the consolidated business operations of Hess Corporation and its subsidiaries.




PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED BALANCE SHEET (UNAUDITED)
September 30,
2022
December 31,
2021
(In millions,
except share amounts)
Assets  
Current Assets:  
Cash and cash equivalents$2,384 $2,713 
Accounts receivable:
From contracts with customers1,241 1,062 
Joint venture and other134 149 
Inventories278 223 
Other current assets86 199 
Total current assets4,123 4,346 
Property, plant and equipment:
Total — at cost32,356 31,178 
Less: Reserves for depreciation, depletion, amortization and lease impairment17,264 16,996 
Property, plant and equipment — net15,092 14,182 
Operating lease right-of-use assets — net461 352 
Finance lease right-of-use assets — net131 144 
Goodwill360 360 
Deferred income taxes139 71 
Post-retirement benefit assets617 409 
Other assets720 651 
Total Assets$21,643 $20,515 
Liabilities
Current Liabilities:
Accounts payable$321 $220 
Accrued liabilities1,703 1,710 
Taxes payable167 528 
Current portion of long-term debt 517 
Current portion of operating and finance lease obligations121 89 
Total current liabilities2,312 3,064 
Long-term debt8,303 7,941 
Long-term operating lease obligations461 394 
Long-term finance lease obligations185 200 
Deferred income taxes604 383 
Asset retirement obligations1,062 1,005 
Other liabilities and deferred credits522 502 
Total Liabilities13,449 13,489 
Equity
Hess Corporation stockholders’ equity:
Common stock, par value $1.00; Authorized — 600,000,000 shares
Issued 308,308,466 shares (2021: 309,744,953)
308 310 
Capital in excess of par value6,227 6,017 
Retained earnings1,354 379 
Accumulated other comprehensive loss(330)(406)
Total Hess Corporation stockholders’ equity7,559 6,300 
Noncontrolling interests635 726 
Total Equity8,194 7,026 
Total Liabilities and Equity$21,643 $20,515 
See accompanying Notes to Consolidated Financial Statements.
2


PART I - FINANCIAL INFORMATION (CONT’D.)

HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
STATEMENT OF CONSOLIDATED INCOME (UNAUDITED)
Three Months Ended
September 30,
Nine Months Ended
September 30,
 2022202120222021
 (In millions, except per share amounts)
Revenues and Non-Operating Income  
Sales and other operating revenues$3,122 $1,759 $8,390 $5,236 
Gains on asset sales, net 29 25 29 
Other, net35 23 101 63 
Total revenues and non-operating income3,157 1,811 8,516 5,328 
Costs and Expenses
Marketing, including purchased oil and gas982 522 2,507 1,362 
Operating costs and expenses398 333 1,067 913 
Production and severance taxes72 42 200 123 
Exploration expenses, including dry holes and lease impairment58 36 134 117 
General and administrative expenses109 76 314 254 
Interest expense125 125 369 360 
Depreciation, depletion and amortization471 349 1,199 1,130 
Impairment and other54  54 147 
Total costs and expenses2,269 1,483 5,844 4,406 
Income Before Income Taxes888 328 2,672 922 
Provision for income taxes282 143 807 388 
Net Income606 185 1,865 534 
Less: Net income attributable to noncontrolling interests91 70 266 240 
Net Income Attributable to Hess Corporation$515 $115 $1,599 $294 
Net Income Attributable to Hess Corporation Per Common Share:
Basic$1.67 $0.37 $5.18 $0.96 
Diluted$1.67 $0.37 $5.16 $0.95 
Weighted Average Number of Common Shares Outstanding:
Basic307.6 308.1 308.7 307.1 
Diluted308.9 309.9 310.1 309.1 
Common Stock Dividends Per Share$0.375 $0.250 $1.125 $0.750 
See accompanying Notes to Consolidated Financial Statements.

3


PART I - FINANCIAL INFORMATION (CONT’D.)

HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME (UNAUDITED)
Three Months Ended
September 30,
Nine Months Ended
September 30,
 2022202120222021
 (In millions)
Net Income$606 $185 $1,865 $534 
Other Comprehensive Income (Loss):
Derivatives designated as cash flow hedges
Effect of hedge (gains) losses reclassified to income165 64 420 179 
Income taxes on effect of hedge (gains) losses reclassified to income    
Net effect of hedge (gains) losses reclassified to income165 64 420 179 
Change in fair value of cash flow hedges(12)(40)(506)(271)
Income taxes on change in fair value of cash flow hedges    
Net change in fair value of cash flow hedges(12)(40)(506)(271)
Change in derivatives designated as cash flow hedges, after taxes153 24 (86)(92)
Pension and other postretirement plans
(Increase) reduction in unrecognized actuarial losses  152 3 
Income taxes on actuarial changes in plan liabilities    
(Increase) reduction in unrecognized actuarial losses, net  152 3 
Amortization of net actuarial losses2 16 10 48 
Income taxes on amortization of net actuarial losses    
Net effect of amortization of net actuarial losses2 16 10 48 
Change in pension and other postretirement plans, after taxes2 16 162 51 
Other Comprehensive Income (Loss)155 40 76 (41)
Comprehensive Income761 225 1,941 493 
Less: Comprehensive income attributable to noncontrolling interests91 70 266 240 
Comprehensive Income Attributable to Hess Corporation$670 $155 $1,675 $253 
See accompanying Notes to Consolidated Financial Statements.

4


PART I - FINANCIAL INFORMATION (CONT’D.)

HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
STATEMENT OF CONSOLIDATED CASH FLOWS (UNAUDITED)
Nine Months Ended
September 30,
 20222021
 (In millions)
Cash Flows From Operating Activities  
Net income$1,865 $534 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Gains) losses on asset sales, net(25)(29)
Depreciation, depletion and amortization1,199 1,130 
Impairment and other54 147 
Exploratory dry hole costs19 11 
Exploration lease impairment14 15 
Pension settlement loss2 5 
Stock compensation expense66 61 
Noncash (gains) losses on commodity derivatives, net383 152 
Provision for deferred income taxes and other tax accruals243 79 
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable(500)(533)
(Increase) decrease in inventories(55)97 
Increase (decrease) in accounts payable and accrued liabilities37 169 
Increase (decrease) in taxes payable(361)278 
Changes in other operating assets and liabilities(249)(125)
Net cash provided by (used in) operating activities2,692 1,991 
Cash Flows From Investing Activities
Additions to property, plant and equipment - E&P(1,755)(1,118)
Additions to property, plant and equipment - Midstream(177)(120)
Proceeds from asset sales, net of cash sold28 427 
Other, net(4)(4)
Net cash provided by (used in) investing activities(1,908)(815)
Cash Flows From Financing Activities
Net borrowings (repayments) of debt with maturities of 90 days or less(61)(32)
Debt with maturities of greater than 90 days:
Borrowings420 750 
Repayments(510)(508)
Cash dividends paid(350)(234)
Common stock acquired and retired(340) 
Proceeds from sale of Class A shares of Hess Midstream LP146 70 
Noncontrolling interests, net(430)(589)
Employee stock options exercised44 75 
Payments on finance lease obligations(5)(7)
Other, net(27)(21)
Net cash provided by (used in) financing activities(1,113)(496)
Net Increase (Decrease) in Cash and Cash Equivalents(329)680 
Cash and Cash Equivalents at Beginning of Year2,713 1,739 
Cash and Cash Equivalents at End of Period$2,384 $2,419 
See accompanying Notes to Consolidated Financial Statements.

5


PART I - FINANCIAL INFORMATION (CONT’D.)

HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
STATEMENT OF CONSOLIDATED EQUITY (UNAUDITED)
 Common StockCapital in Excess of ParRetained EarningsAccumulated Other Comprehensive LossTotal Hess Stockholders' EquityNoncontrolling InterestsTotal Equity
 
For the Three Months Ended September 30, 2022       
Balance at July 1, 2022$310 $6,236 $1,075 $(485)$7,136 $622 $7,758 
Net income— — 515 — 515 91 606 
Other comprehensive income (loss)— — — 155 155  155 
Share-based compensation 20 — — 20 — 20 
Dividends on common stock— — (117)— (117)— (117)
Common stock acquired and retired(2)(29)(119)— (150)— (150)
Noncontrolling interests, net— — — — — (78)(78)
Balance at September 30, 2022$308 $6,227 $1,354 $(330)$7,559 $635 $8,194 
For the Three Months Ended September 30, 2021
Balance at July 1, 2021$310 $5,859 $155 $(836)5,488 $1,044 $6,532 
Net income— — 115 — 115 70 185 
Other comprehensive income (loss)— — — 40 40  40 
Share-based compensation 16 — — 16 — 16 
Dividends on common stock— — (78)— (78)— (78)
Repurchase of Class B units of Hess Midstream Operations LP— 28 — — 28 (390)(362)
Noncontrolling interests, net— — — — — (77)(77)
Balance at September 30, 2021$310 $5,903 $192 $(796)$5,609 $647 $6,256 
For the Nine Months Ended September 30, 2022
Balance at January 1, 2022$310 $6,017 $379 $(406)$6,300 $726 $7,026 
Net income— — 1,599 — 1,599 266 1,865 
Other comprehensive income (loss)— — — 76 76  76 
Share-based compensation2 110 — — 112 — 112 
Dividends on common stock— — (350)— (350)— (350)
Sale of Class A shares of Hess Midstream LP— 130 — — 130 88 218 
Repurchase of Class B units of Hess Midstream Operations LP— 32 — — 32 (215)(183)
Common stock acquired and retired(4)(62)(274)— (340)— (340)
Noncontrolling interests, net— — — — — (230)(230)
Balance at September 30, 2022$308 $6,227 $1,354 $(330)$7,559 $635 $8,194 
For the Nine Months Ended September 30, 2021
Balance at January 1, 2021$307 $5,684 $130 $(755)5,366 $969 $6,335 
Net income— — 294 — 294 240 534 
Other comprehensive income (loss)— — — (41)(41) (41)
Share-based compensation3 135 — — 138 — 138 
Dividends on common stock— — (232)— (232)— (232)
Sale of Class A shares of Hess Midstream LP— 56 — — 56 41 97 
Repurchase of Class B units of Hess Midstream Operations LP— 28 — — 28 (390)(362)
Noncontrolling interests, net— — — — — (213)(213)
Balance at September 30, 2021$310 $5,903 $192 $(796)$5,609 $647 $6,256 
See accompanying Notes to Consolidated Financial Statements.


6

PART I - FINANCIAL INFORMATION (CONT’D.)
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
1.  Basis of Presentation                    
The financial statements included in this report reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of our consolidated financial position at September 30, 2022 and December 31, 2021, the consolidated results of operations for the three and nine months ended September 30, 2022 and 2021, and consolidated cash flows for the nine months ended September 30, 2022 and 2021.  The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year.
The financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission (SEC) for interim reporting.  As permitted under those rules, certain notes or other financial information that are normally required by generally accepted accounting principles (GAAP) in the United States have been condensed or omitted from these interim financial statements.  These statements, therefore, should be read in conjunction with the consolidated financial statements and related notes included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021.
 2.  Inventories
Inventories consisted of the following:
September 30,
2022
December 31,
2021
 (In millions)
Crude oil and natural gas liquids$96 $52 
Materials and supplies182 171 
Total Inventories$278 $223 
3.  Property, Plant and Equipment
Capitalized Exploratory Well Costs:  
The following table discloses the net changes in capitalized exploratory well costs pending determination of proved reserves during the nine months ended September 30, 2022 (in millions):

Balance at January 1, 2022$681 
Additions to capitalized exploratory well costs pending the determination of proved reserves267 
Reclassifications to wells, facilities and equipment based on the determination of proved reserves(93)
Balance at September 30, 2022$855 
The preceding table excludes well costs of $19 million incurred and expensed during the first nine months of 2022. Additions to capitalized exploratory well costs pending the determination of proved reserves are related to wells drilled on the Stabroek Block (Hess 30%), offshore Guyana, the Huron-1 well (Hess 40%) in the Gulf of Mexico, and the Zanderij-1 well on Block 42 (Hess 33%), offshore Suriname. Reclassifications to wells, facilities and equipment based on the determination of proved reserves resulted from the sanction of the Yellowtail Field development project, the fourth sanctioned project on the Stabroek Block.
At September 30, 2022, exploratory well costs capitalized for greater than one year following completion of drilling of $497 million was comprised of the following:
Guyana: Approximately 90% of the capitalized well costs in excess of one year relate to successful exploration wells where hydrocarbons were encountered on the Stabroek Block.  The operator plans further appraisal drilling on the Block and is conducting pre-development planning for additional phases of development.
Joint Development Area (JDA):  Approximately 8% of the capitalized well costs in excess of one year relates to the JDA (Hess 50%) in the Gulf of Thailand, where hydrocarbons were encountered in three successful exploration wells drilled in the western part of Block A-18. The operator has submitted a development plan concept to the regulator to facilitate ongoing commercial negotiations for an extension of the existing gas sales contract to include development of the western part of the Block.
Malaysia:  Approximately 2% of the capitalized well costs in excess of one year relate to the North Malay Basin (Hess 50%), offshore Peninsular Malaysia, where hydrocarbons were encountered in one successful exploration well.  Subsurface evaluation and pre-development studies are ongoing.
7

PART I - FINANCIAL INFORMATION (CONT’D.)
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
4.  Hess Midstream LP
At September 30, 2022, Hess Midstream LP (Hess Midstream), a variable interest entity that is fully consolidated by Hess Corporation, had liabilities totaling $3,053 million (December 31, 2021: $2,694 million) that are on a nonrecourse basis to Hess Corporation, while Hess Midstream assets available to settle the obligations of Hess Midstream included cash and cash equivalents totaling $3 million (December 31, 2021: $2 million), property, plant and equipment with a carrying value of $3,160 million (December 31, 2021: $3,125 million) and an equity-method investment in the Little Missouri 4 (LM4) gas processing plant of $98 million (December 31, 2021: $102 million).
LM4 is a 200 million standard cubic feet per day gas processing plant located south of the Missouri River in McKenzie County, North Dakota, that was constructed as part of a 50/50 joint venture between Hess Midstream and Targa Resources Corp. Hess Midstream has a natural gas processing agreement with LM4 under which it pays a processing fee and reimburses LM4 for its proportionate share of electricity costs. The processing fees included in Operating costs and expenses in the Statement of Consolidated Income for the three and nine months ended September 30, 2022 were $7 million and $16 million, respectively, compared with $8 million and $22 million for the three and nine months ended September 30, 2021, respectively.
In April 2022, Hess Midstream LP completed an underwritten public equity offering of approximately 10.2 million Hess Midstream LP Class A shares held by a subsidiary of Hess Corporation and an affiliate of Global Infrastructure Partners (GIP). We received net proceeds of $146 million from the public offering. The transaction resulted in an increase in Capital in excess of par and Noncontrolling interests of $130 million and $88 million, respectively. The increase to Noncontrolling interests of $88 million is comprised of $16 million resulting from the change in ownership interest and $72 million from an increase to deferred tax assets resulting from a change in the difference between the carrying amount and tax basis of Hess Midstream LP's investment in Hess Midstream Operations LP (HESM Opco).
Concurrent with the April 2022 public offering, HESM Opco, a consolidated subsidiary of Hess Midstream LP, repurchased approximately 13.6 million HESM Opco Class B units held by a subsidiary of Hess Corporation and an affiliate of GIP for $400 million. HESM Opco issued $400 million in aggregate principal amount of 5.500% fixed-rate senior unsecured notes due 2030 in a private offering to repay borrowings under its revolving credit facility used to finance the repurchase. The transaction resulted in an increase in Capital in excess of par and a decrease in Noncontrolling interests of $32 million, and an increase in deferred tax assets and Noncontrolling interests of $17 million resulting from a change in the difference between the carrying amount and tax basis of Hess Midstream LP's investment in HESM Opco. The $200 million paid to GIP reduced Noncontrolling Interests. We owned an approximate 41% interest in Hess Midstream LP, on a consolidated basis, at September 30, 2022.
In August 2021, HESM Opco repurchased 31.25 million HESM Opco Class B units held by a subsidiary of Hess Corporation and an affiliate of GIP for $750 million. HESM Opco issued $750 million in aggregate principal amount of 4.250% fixed-rate senior unsecured notes due 2030 in a private offering to finance the repurchase. The transaction resulted in an increase in Capital in Excess of Par and a decrease in Noncontrolling Interests of $28 million, and an increase in deferred tax assets and Noncontrolling Interests of $15 million resulting from a change in the difference between the carrying amount and tax basis of Hess Midstream LP's investment in HESM Opco. The $375 million paid to GIP reduced Noncontrolling Interests.
In March 2021, Hess Midstream LP completed an underwritten public equity offering of 6.9 million Hess Midstream LP Class A shares held by a subsidiary of Hess Corporation and an affiliate of GIP. We received net proceeds of $70 million from the public offering. The transaction resulted in an increase in Capital in excess of par and Noncontrolling interests of $56 million and $41 million, respectively. The increase to Noncontrolling interests of $41 million is comprised of $14 million resulting from the change in ownership interest and $27 million from an increase to deferred tax assets resulting from a change in the difference between the carrying amount and tax basis of Hess Midstream LP's investment in HESM Opco.
8

PART I - FINANCIAL INFORMATION (CONT’D.)
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
5.  Accrued Liabilities
Accrued Liabilities consisted of the following:
September 30,
2022
December 31,
2021
(In millions)
Accrued capital expenditures$518 $479 
Accrued operating and marketing expenditures490 462 
Accrued payments to royalty and working interest owners262 253 
Current portion of asset retirement obligations215 185 
Accrued interest on debt111 138 
Accrued compensation and benefits89 124 
Other accruals18 69 
Total Accrued Liabilities$1,703 $1,710 
6.  Debt
Debt – Hess Corporation:
Credit facility: In July 2022, Hess Corporation replaced its $3.5 billion revolving credit facility expiring in May 2024 with a new $3.25 billion revolving credit facility maturing in July 2027. The new facility, which is fully undrawn, can be used for borrowings and letters of credit. Borrowings on the new facility will generally bear interest at 1.400% above the Secured Overnight Financing Rate (SOFR), though the interest rate is subject to adjustment based on the credit rating of the Corporation's senior, unsecured, non-credit enhanced long-term debt. The new credit agreement replaced the London Interbank Offered Rate (LIBOR) as the benchmark interest rate with SOFR and has substantially similar terms to the prior agreement, including covenants.
Term loan: In February 2022, we repaid the remaining $500 million outstanding under our $1.0 billion term loan previously scheduled to mature in March 2023. We repaid the first $500 million in July 2021.
Debt – Midstream:
Term loan and credit facility: In July 2022, HESM Opco amended and restated its credit agreement for its $1.4 billion senior secured syndicated credit facilities, consisting of a $1.0 billion revolving credit facility and a $400 million term loan facility, resulting in an incremental $20 million outstanding on the term loan facility at closing. The amended and restated credit agreement, among other things, extended the maturity date from December 2024 to July 2027, increased the accordion feature to up to an additional $750 million, which does not represent a lending commitment from the lenders, and replaced LIBOR as the benchmark interest rate with SOFR. Borrowings under the new term loan facility will generally bear interest at SOFR plus an applicable margin ranging from 1.650% to 2.550%, while the applicable margin for the new syndicated revolving credit facility ranges from 1.375% to 2.050%. The amended and restated credit agreement has substantially similar terms to the prior agreement, including commitment amounts, guarantees, secured collateral and covenants.
Senior unsecured fixed-rate public notes: In April 2022, HESM Opco issued $400 million in aggregate principal amount of 5.500% fixed-rate senior unsecured notes due 2030 in a private offering to repay borrowings under its revolving credit facility used to finance the repurchase of approximately 13.6 million HESM Opco Class B units held by a subsidiary of Hess Corporation and an affiliate of GIP. The covenants of the 5.500% fixed-rate senior unsecured notes are substantially similar to the terms of the other existing HESM Opco fixed-rate senior unsecured notes.
9

PART I - FINANCIAL INFORMATION (CONT’D.)
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
7.  Revenue
Revenue from contracts with customers on a disaggregated basis was as follows (in millions):
 Exploration and ProductionMidstreamEliminationsTotal
 United StatesGuyanaMalaysia and JDAOther (a)E&P Total   
Three Months Ended September 30, 2022        
Sales of our net production volumes:        
Crude oil revenue (b)$895 $838 $34 $97 $1,864 $ $— $1,864 
Natural gas liquids revenue191    191  — 191 
Natural gas revenue145  150 6 301  — 301 
Sales of purchased oil and gas889 20  22 931  — 931 
Intercompany revenue     335 (335)— 
Total sales2,120 858 184 125 3,287 335 (335)3,287 
Other operating revenues (c)(98)(59) (8)(165)  (165)
Total sales and other operating revenues$2,022 $799 $184 $117 $3,122 $335 $(