Inventory, Linefill and Base Gas and Long-term Inventory

3 Months Ended

Mar. 31, 2017

Inventory, Linefill and Base Gas and Long-term Inventory

Inventory, Linefill and Base Gas and Long-term Inventory

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):

	March 31, 2017						December 31, 2016
	Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)		Volumes	Unit of Measure	Carrying Value		Price/ Unit (1)
Inventory
Crude oil	21,710	barrels	$	1,071	$	49.33	23,589	barrels	$	1,049	$	44.47
NGL	5,396	barrels	120		$	22.24	13,497	barrels	242		$	17.93
Natural gas	3,630	Mcf	10		$	2.75	14,540	Mcf	32		$	2.20
Other	N/A		18		N/A		N/A		20		N/A
Inventory subtotal			1,219						1,343
Linefill and base gas
Crude oil	12,679	barrels	729		$	57.50	12,273	barrels	710		$	57.85
NGL	1,646	barrels	46		$	27.95	1,660	barrels	45		$	27.11
Natural gas	24,976	Mcf	108		$	4.32	30,812	Mcf	141		$	4.58
Linefill and base gas subtotal			883						896
Long-term inventory
Crude oil	2,345	barrels	101		$	43.07	3,279	barrels	163		$	49.71
NGL	1,418	barrels	30		$	21.16	1,418	barrels	30		$	21.16
Long-term inventory subtotal			131						193
Total			$	2,233					$	2,432

⁽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.