DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of oil hedge positions

	Q1 2020		Q2 2020		Q3 2020		Q4 2020
Purchased Puts:
Barrels per day	30,000		20,000		13,000		8,000
Weighted-average price per barrel	$	70.83	$	67.50	$	65.00	$	65.00
Sold Puts:
Barrels per day	30,000		20,000		18,000		13,000
Weighted-average price per barrel	$	56.67	$	53.75	$	54.31	$	53.81
Swaps:
Barrels per day	—		5,000		5,000		5,000
Weighted-average price per barrel	$	—	$	70.05	$	65.00	$	65.00

Schedule of fair value (at gross and net) of outstanding derivatives

The following table presents the fair values (at gross and net) of our outstanding derivatives as of December 31, 2019 and 2018:

December 31, 2019
Balance Sheet Classification	Gross Amounts Recognized at Fair Value			Gross Amounts Offset in the Balance Sheet			Net Fair Value Presented in the Balance Sheet
Assets:	(in millions)
Other current assets	$	49		$	(10	)	$	39
Other assets	1			—			1
Liabilities:
Accrued liabilities	(15		)	10			(5		)
Other long-term liabilities	—			—			—
	$	35		$	—		$	35

December 31, 2018
Balance Sheet Classification	Gross Amounts Recognized at Fair Value			Gross Amounts Offset in the Balance Sheet			Net Fair Value Presented in the Balance Sheet
Assets:	(in millions)
Other current assets	$	252		$	(84	)	$	168
Other assets	23			(9		)	14
Liabilities:
Accrued liabilities	(87		)	84			(3		)
Other long-term liabilities	(10		)	9			(1		)
	$	178		$	—		$	178