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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2017
Derivative [Line Items]  
Schedule Of Derivative Financial Instruments Included In Consolidated Comprehensive Statements Of Earnings And Consolidated Balance Sheets

The following table presents the net gains and losses by derivative financial instrument type followed by the corresponding individual consolidated comprehensive statements of earnings caption.

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Commodity derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Upstream revenues

 

$

157

 

 

$

(201

)

 

$

503

 

Marketing and midstream revenues

 

 

(1

)

 

 

(13

)

 

 

9

 

Interest rate derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Other expenses

 

 

(22

)

 

 

(19

)

 

 

(20

)

Foreign currency derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Other expenses

 

 

 

 

 

(153

)

 

 

246

 

Net gains (losses) recognized

 

$

134

 

 

$

(386

)

 

$

738

 

The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption.

 

 

 

December 31, 2017

 

 

December 31, 2016

 

Commodity derivative assets:

 

 

 

 

 

 

 

 

Other current assets

 

$

209

 

 

$

9

 

Other long-term assets

 

 

2

 

 

 

1

 

Interest rate derivative assets:

 

 

 

 

 

 

 

 

Other current assets

 

 

1

 

 

 

1

 

Total derivative assets

 

$

212

 

 

$

11

 

Commodity derivative liabilities:

 

 

 

 

 

 

 

 

Other current liabilities

 

$

267

 

 

$

187

 

Other long-term liabilities

 

 

27

 

 

 

16

 

Interest rate derivative liabilities:

 

 

 

 

 

 

 

 

Other current liabilities

 

 

64

 

 

 

 

Other long-term liabilities

 

 

 

 

 

41

 

Total derivative liabilities

 

$

358

 

 

$

244

 

 

Interest Rate Derivatives [Member]  
Derivative [Line Items]  
Schedule Of Open Derivative Positions

 

Notional

 

 

Rate Received

 

 

Rate Paid

 

 

Expiration

$

750

 

 

Three Month LIBOR

 

 

2.98%

 

 

December 2048 (1)

$

100

 

 

1.76%

 

 

Three Month LIBOR

 

 

January 2019

 

(1)

Mandatory settlement in December 2018.

 

Open Oil Derivative Positions [Member]  
Derivative [Line Items]  
Schedule Of Open Derivative Positions

 

 

 

Price Swaps

 

 

Price Collars

 

Period

 

Volume

(Bbls/d)

 

 

Weighted

Average

Price ($/Bbl)

 

 

Volume

(Bbls/d)

 

 

Weighted

Average Floor

Price ($/Bbl)

 

 

Weighted

Average

Ceiling Price

($/Bbl)

 

Q1-Q4 2018

 

 

49,625

 

 

$

52.13

 

 

 

51,860

 

 

$

46.06

 

 

$

56.06

 

Q1-Q4 2019

 

 

7,307

 

 

$

52.22

 

 

 

6,559

 

 

$

45.82

 

 

$

55.82

 

 

 

 

Oil Basis Swaps

 

 

Oil Basis Collars

 

Period

 

Index

 

Volume

(Bbls/d)

 

 

Weighted Average

Differential to WTI

($/Bbl)

 

 

Volume

(Bbls/d)

 

 

Weighted

Average Floor

Differential to WTI ($/Bbl)

 

 

Weighted

Average Ceiling

Differential to WTI ($/Bbl)

 

Q1-Q4 2018

 

Midland Sweet

 

 

23,000

 

 

$

(1.02

)

 

 

 

 

$

 

 

$

 

Q1-Q4 2018

 

Argus LLS

 

 

12,000

 

 

$

3.95

 

 

 

 

 

$

 

 

$

 

Q1-Q4 2018

 

Western Canadian Select

 

 

75,490

 

 

$

(14.84

)

 

 

1,830

 

 

$

(15.50

)

 

$

(13.93

)

Q1-Q4 2019

 

Midland Sweet

 

 

27,000

 

 

$

(0.47

)

 

 

 

 

$

 

 

$

 

 

Open Natural Gas Derivative Positions [Member]  
Derivative [Line Items]  
Schedule Of Open Derivative Positions

 

 

 

Price Swaps

 

 

Price Collars

 

Period

 

Volume (MMBtu/d)

 

 

Weighted Average Price ($/MMBtu)

 

 

Volume (MMBtu/d)

 

 

Weighted Average Floor Price ($/MMBtu)

 

 

Weighted Average

Ceiling Price ($/MMBtu)

 

Q1-Q4 2018

 

 

371,956

 

 

$

3.06

 

 

 

197,516

 

 

$

2.94

 

 

$

3.26

 

Q1-Q4 2019

 

 

28,466

 

 

$

2.98

 

 

 

28,466

 

 

$

2.84

 

 

$

3.14

 

 

 

 

Natural Gas Basis Swaps

 

Period

 

Index

 

Volume

(MMBtu/d)

 

 

Weighted Average

Differential to

Henry Hub

($/MMBtu)

 

Q1-Q4 2018

 

Panhandle Eastern Pipe Line

 

 

50,000

 

 

$

(0.29

)

 

Open NGL Derivative Positions [Member]  
Derivative [Line Items]  
Schedule Of Open Derivative Positions

 

 

 

 

 

Price Swaps

 

Period

 

Product

 

Volume (Bbls/d)

 

 

Weighted Average Price ($/Bbl)

 

Q1-Q4 2018

 

Ethane

 

 

6,747

 

 

$

11.89

 

Q1-Q4 2018

 

Natural Gasoline

 

 

5,500

 

 

$

54.24

 

Q1-Q4 2018

 

Normal Butane

 

 

6,750

 

 

$

38.46

 

Q1-Q4 2018

 

Propane

 

 

9,500

 

 

$

33.19

 

 

Gas Processing And Fractionation Open Positions [Member] | EnLink [Member]  
Derivative [Line Items]  
Schedule Of Open Derivative Positions

 

Period

 

Product

 

Volume (Total)

 

Weighted Average Price Paid

 

Weighted Average Price Received

Q1-Q4 2018

 

Propane

 

 

681

 

MBbls

 

Index

 

$0.88/gal

Q1 2018-Q1 2019

 

Natural Gas

 

 

122,629

 

MMBtu/d

 

Index

 

$2.57/MMBtu