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Statement of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities      
Net income $ 1,738 $ 2,447 $ 890
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
(Gains) on asset sales, net (2) (101) (29)
Depreciation, depletion and amortization 2,046 1,703 1,528
Impairment and other 82 54 147
Exploratory dry hole costs 147 56 11
Exploration lease impairment 27 20 20
Pension settlement loss 17 2 9
Stock compensation expense 87 83 77
Noncash (gains) losses on commodity derivatives, net 156 548 216
Provision (benefit) for deferred income taxes and other tax accruals 196 309 122
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (324) (301) (748)
(Increase) decrease in inventories (87) 2 135
Increase (decrease) in accounts payable and accrued liabilities 253 50 241
Increase (decrease) in taxes payable 38 (465) 447
Changes in other operating assets and liabilities (432) (463) (176)
Net cash provided by (used in) operating activities 3,942 3,944 2,890 Close
Cash Flows From Investing Activities      
Additions to property, plant and equipment – E&P (3,884) (2,487) (1,584)
Additions to property, plant and equipment – Midstream (224) (238) (163)
Proceeds from asset sales, net of cash sold 3 178 427
Other, net (8) (8) (5)
Net cash provided by (used in) investing activities (4,113) (2,555) (1,325) Close
Cash Flows From Financing Activities      
Net borrowings (repayments) of debt with maturities of 90 days or less 322 (86) (80)
Debt with maturities of greater than 90 days – Borrowings 0 420 750
Debt with maturities of greater than 90 days – Repayments (3) (510) (510)
Cash dividends paid (539) (465) (311)
Common stock acquired and retired (20) (630) 0
Proceeds from sale of Class A shares of Hess Midstream LP 167 146 178
Noncontrolling interests, net (550) (510) (664)
Employee stock options exercised 10 52 77
Payments on finance lease obligations (10) (9) (10)
Other, net (4) (24) (21)
Net cash provided by (used in) financing activities (627) (1,616) (591) Close
Net Increase (Decrease) in Cash and Cash Equivalents (798) (227) 974 Close
Cash and Cash Equivalents at Beginning of Year 2,486 2,713 1,739
Cash and Cash Equivalents at End of Year $ 1,688 $ 2,486 $ 2,713