XML 31 R15.htm IDEA: XBRL DOCUMENT v3.6.0.2
Dispositions
12 Months Ended
Dec. 31, 2016
Disposition Of Businesses [Abstract]  
Dispositions

8.  Dispositions

2016:  We sold miscellaneous non-core assets during the year for proceeds totaling approximately $100 million and recognized net pre-tax gains totaling $23 million ($14 million after income taxes).

2015:  We sold approximately 13,000 acres of Utica dry gas acreage for a sale price of approximately $120 million.  This transaction resulted in a pre-tax gain of $49 million ($31 million after income taxes).  We also disposed of our interest in Algeria and recognized a pre-tax loss of $21 million ($21 million after income taxes) and sold land associated with our former joint venture interest in the Bayonne Energy Center for $20 million, resulting in a pre-tax gain of $20 million ($13 million after income taxes).  

2014:  We completed the sale of our interest in the Pangkah asset, offshore Indonesia for cash proceeds of approximately $650 million, which resulted in a pre-tax gain of $31 million ($10 million loss after income taxes).  We also completed the sale of our interests in Thailand for cash proceeds of approximately $805 million, which resulted in a pre-tax gain of $706 million ($706 million after income taxes).  In addition, we completed the sale of approximately 77,000 net acres in the dry gas area of the Utica shale play including related wells and facilities through multiple transactions, for cash proceeds of $1,075 million and recorded a pre-tax gain of $62 million ($35 million after income taxes).  In June, we completed the sale of our joint venture interest in an electric generating facility in Newark, New Jersey for cash proceeds of $320 million, resulting in a pre-tax gain of approximately $13 million ($8 million after income taxes).  In September, we sold our joint venture interest in Bayonne Energy Center for $79 million, which did not result in a gain or loss.  Also in September, we completed the sale of our interest in an exploration asset in the United Kingdom North Sea for $53 million, which resulted in a pre-tax gain of $33 million ($33 million after income taxes).