Inventory, Linefill and Base Gas and Long-term Inventory (Tables)

12 Months Ended

Dec. 31, 2021

Inventory, Linefill and Base Gas and Long-term Inventory

Schedule of inventory, linefill and base gas and long-term inventory

Inventory, linefill and base gas and long-term inventory consisted of the following (barrels and natural gas volumes in thousands and carrying value in millions):

	December 31, 2021						December 31, 2020
	Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)		Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)
Inventory
Crude oil	8,041	barrels	$	544	$	67.65	13,450	barrels	$	441	$	32.79
NGL	6,982	barrels	234		$	33.51	12,302	barrels	199		$	16.18
Other	N/A		5		N/A		N/A		7		N/A
Inventory subtotal			783						647
Linefill and base gas
Crude oil	15,199	barrels	862		$	56.71	14,669	barrels	828		$	56.45
NGL	1,633	barrels	45		$	27.56	1,640	barrels	44		$	26.83
Natural gas (2)	—	Mcf	—		$	—	25,576	Mcf	110		$	4.30
Linefill and base gas subtotal			907						982
Long-term inventory
Crude oil	2,973	barrels	209		$	70.30	2,499	barrels	111		$	44.42
NGL	1,135	barrels	44		$	38.77	1,185	barrels	19		$	16.03
Long-term inventory subtotal			253						130
Total			$	1,943					$	1,759

(1)Price per unit of measure is comprised of a weighted average associated with various grades, qualities and locations. Accordingly, these prices may not coincide with any published benchmarks for such products.

(2)Base gas with a carrying value of $110 million was included in the sale of our natural gas storage facilities, which closed in August 2021. See Note 7 for additional information.