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Statement of Consolidated Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Oil and gas production revenues        
Oil and Gas Production Revenues $ 1,386 $ 1,991 $ 2,473 $ 3,650
Other (21) 28 (24) 22
Gain on divestitures 17 227 16 209
Total revenues and other 1,382 2,246 2,465 3,881
OPERATING EXPENSES:        
Lease operating expenses 359 467 737 948
Gathering and transportation 52 49 104 105
Taxes other than income 65 55 76 128
Exploration 91 225 186 483
General and administrative 103 111 196 195
Depreciation, depletion, and amortization:        
Depreciation, depletion and amortization 669 794 1,347 1,620
Asset retirement obligation accretion 38 36 76 72
Impairments 173 512 173 2,424
Transaction, reorganization, and separation 9 66 24 120
Financing costs, net 104 117 209 241
Total operating expenses 1,663 2,432 3,128 6,336
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (281) (186) (663) (2,455)
Current income tax provision 144 900 134 848
Deferred income tax benefit (225) (169) (226) (1,318)
NET LOSS FROM CONTINUING OPERATIONS INCLUDING NONCONTROLLING INTEREST (200) (917) (571) (1,985)
Net income (loss) from discontinued operations, net of tax 0 120 0 (118)
NET LOSS INCLUDING NONCONTROLLING INTEREST (200) (797) (571) (2,103)
Net income attributable to noncontrolling interest 44 63 45 91
NET LOSS ATTRIBUTABLE TO COMMON STOCK (244) (860) (616) (2,194)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS:        
Net loss from continuing operations attributable to common shareholders (244) (980) (616) (2,076)
Net income (loss) from discontinued operations 0 120 0 (118)
NET LOSS ATTRIBUTABLE TO COMMON STOCK $ (244) $ (860) $ (616) $ (2,194)
NET LOSS PER COMMON SHARE:        
Basic net loss from continuing operations per share $ (0.65) $ (2.60) $ (1.63) $ (5.50)
Basic net loss from discontinued operations per share 0.00 0.32 0.00 (0.31)
Basic net loss per share (0.65) (2.28) (1.63) (5.81)
DILUTED NET LOSS PER COMMON SHARE:        
Diluted net loss from continuing operations per share (0.65) (2.60) (1.63) (5.50)
Diluted net loss from discontinued operations per share 0.00 0.32 0.00 (0.31)
Diluted net loss per share $ (0.65) $ (2.28) $ (1.63) $ (5.81)
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic (in shares) 379 378 379 377
Diluted (in shares) 379 378 379 377
DIVIDENDS DECLARED PER COMMON SHARE $ 0.25 $ 0.25 $ 0.5 $ 0.5
Oil and gas property and equipment [Member]        
Depreciation, depletion, and amortization:        
Depreciation, depletion and amortization $ 629 $ 711 $ 1,265 $ 1,454
Other assets [Member]        
Depreciation, depletion, and amortization:        
Depreciation, depletion and amortization 40 83 82 166
Oil [Member]        
Oil and gas production revenues        
Oil and Gas Production Revenues 1,118 1,618 1,940 2,911
Gas [Member]        
Oil and gas production revenues        
Oil and Gas Production Revenues 209 315 432 623
Natural gas liquids [Member]        
Oil and gas production revenues        
Oil and Gas Production Revenues $ 59 $ 58 $ 101 $ 116