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Derivatives (Tables)
 9 Months Ended
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives as they appear on the balance sheet [Table Text Block]
The following tables present the gross fair values of derivative instruments and the reported net amounts where they appear on the consolidated balance sheets.
 
September 30, 2017
 
 
(In millions)
Asset
 
Liability
 
Net Asset (Liability)
 
Balance Sheet Location
Not Designated as Hedges
 
 
 
 
 
 
 
   Commodity
$
10

 
$
1

 
$
9

 
Other current assets
   Commodity
—

 
4

 
(4
)
 
Deferred credits and other liabilities
Total Not Designated as Hedges
$
10

 
$
5

 
$
5

 
 
     Total
$
10


$
5

 
$
5

 
 
 
December 31, 2016
 
 
(In millions)
Asset
 
Liability
 
Net Asset (Liability)
 
Balance Sheet Location
Fair Value Hedges
 
 
 
 
 
 
 
     Interest rate
$
3

 
$
—

 
$
3

 
Other current assets
     Interest rate
1

 
—

 
1

 
Other noncurrent assets
Cash Flow Hedges
 
 
 
 
 
 
 
     Interest rate
$
64

 
$
—

 
$
64

 
Other noncurrent assets
Total Designated Hedges
$
68

 
$
—

 
$
68

 
 
 
 
 
 
 
 
 
 
Not Designated as Hedges
 
 
 
 
 
 
 
     Commodity
$
—

 
$
60

 
$
(60
)
 
Other current liabilities
Total Not Designated as Hedges
$
—

 
$
60

 
$
(60
)
 
 
     Total
$
68

 
$
60

 
$
8

 
 
Schedule of Interest Rate Derivatives [Table Text Block]
The following table presents, by maturity date, information about our interest rate swap agreements, including the weighted average, London Interbank Offer Rate (“LIBOR”) based, floating rate.
 
September 30, 2017
 
December 31, 2016
 
Aggregate Notional Amount
Weighted Average, LIBOR
 
Aggregate Notional Amount
Weighted Average, LIBOR
Maturity Dates
(in millions)
Floating Rate
 
(in millions)
Floating Rate
October 1, 2017
$
—

—
%
 
$
600

5.10
%
March 15, 2018
$
—

—
%
 
$
300

5.04
%
Forward Starting Interest Rate Swap Agreements by Maturity [Table Text Block]
The following table presents, by maturity date, information about our terminated forward starting interest rate swap agreements, including the rate.
 
September 30, 2017
 
December 31, 2016
 
Aggregate Notional Amount
Weighted Average, LIBOR
 
Aggregate Notional Amount
Weighted Average, LIBOR
Maturity Dates
(in millions)
Fixed Rate
 
(in millions)
Fixed Rate
March 15, 2018
$
—

—
%
 
$
750

1.57
%
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table sets forth the net impact of the terminated forward starting interest rate swap derivatives de-designated as cash flow hedges on other comprehensive income (loss).
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In millions)
2017
 
2016
 
2017
 
2016
Interest Rate Swaps
 
 
 
 
 
 
 
  Beginning balance
$
46

 
$
—

 
$
60

 
$
—

Change in fair value recognized in other comprehensive income
—

 
2

 
(13
)
 
2

Reclassification from other comprehensive income
(46
)
 
—

 
(47
)
 
—

  Ending balance
$
—

 
$
2

 
$
—

 
$
2
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
The following table sets forth outstanding derivative contracts as of September 30, 2017 and the weighted average prices for those contracts:
Crude Oil
 
2017
2018
 
Fourth Quarter
First Quarter
Second Quarter
Third Quarter
Fourth Quarter
Three-Way Collars (a)





Volume (Bbls/day)
50,000
75,000
75,000
62,000
62,000
Weighted average price per Bbl:





Ceiling
$60.37
$56.24
$56.24
$56.08
$56.08
Floor
$54.80
$51.33
$51.33
$50.50
$50.50
Sold put
$47.80
$44.73
$44.73
$43.61
$43.61
Swaps (b)(c)





Volume (Bbls/day)
20,000
—
—
—
—
Weighted average price per Bbl
$51.37
—
—
—
—
Sold call options (d)





Volume (Bbls/day)
35,000
—
—
—
—
Weighted average price per Bbl
$61.91
—
—
—
—
Basis Swaps (e)





Volume (Bbls/day)
—
5,000
5,000
10,000
10,000
Weighted average price per Bbl
—
$(0.60)
$(0.60)
$(0.67)
$(0.67)

(a) 
Between September 30, 2017 and October 30, 2017, we entered into 10,000 Bbls/day of three-way collars for July - December 2018 with an average ceiling price of $58.07, a floor price of $53.70, and a sold put price of $47.00.
(b) 
The counterparties have the option to execute fixed-price swaps (swaptions) at a weighted average price of $52.67 per Bbl indexed to NYMEX WTI, which is exercisable on December 29, 2017. If the counterparties exercise, the term of the fixed-price swaps would be from January - June 2018 and, if all such options are exercised, for 10,000 Bbls/day.
(c) 
Between September 30, 2017 and October 30, 2017, we entered into 40,000 Bbls/day of fixed-price swaps for November - December 2017 with a weighted average price of $54.11.
(d) 
Call options settle monthly.
(e) 
The basis differential price is between WTI Midland and WTI Cushing.
Natural Gas
 
2017
2018
 
Fourth Quarter
First Quarter
Second Quarter
Third Quarter
Fourth Quarter
Three-Way Collars





Volume (MMBtu/day)
120,000
200,000
160,000
160,000
160,000
Weighted average price per MMBtu:





Ceiling
$3.71
$3.79
$3.61
$3.61
$3.61
Floor
$3.14
$3.08
$3.00
$3.00
$3.00
Sold put
$2.60
$2.55
$2.50
$2.50
$2.50
Swaps





Volume (MMBtu/day)
20,000
—
—
—
—
Weighted average price per MMBtu
$2.93
—
—
—
—