Segment Information

9 Months Ended

Sep. 30, 2012

Segment Reporting [Abstract]

Segment Information

Segment Information

We have operations throughout the world and manage our operations by country. The following information is grouped into four components that are all primarily in the business of crude oil and natural gas exploration, development, and acquisition: the United States; West Africa (Equatorial Guinea, Cameroon, Sierra Leone and Senegal/Guinea-Bissau); Eastern Mediterranean (Israel and Cyprus); and Other International and Corporate. Other International includes China, Ecuador (through May 2011), and new ventures. As of September 30, 2012, our remaining North Sea properties were included in assets held for sale.  

	Consolidated			United States			West Africa			Eastern Mediterranean			Other Int'l & Corporate
(millions)
Three Months Ended September 30, 2012
Revenues from Third Parties	$	955		$	594		$	280		$	48		$	33
Income from Equity Method Investees	51			3			48			—			—
Total Revenues	1,006			597			328			48			33
DD&A	368			240			61			49			18
Gain on Divestitures (1)	(157		)	(157		)	—			—			—
Loss on Commodity Derivative Instruments (2)	135			42			93			—			—
Income (Loss) from Continuing Operations Before Income Taxes	275			337			85			(11		)	(136		)
Three Months Ended September 30, 2011
Revenues from Third Parties	$	829		$	520		$	153		$	108		$	48
Income from Equity Method Investees	50			—			50			—			—
Total Revenues	879			520			203			108			48
DD&A	215			180			13			8			14
Gain on Commodity Derivative Instruments (2)	(322		)	(213		)	(109		)	—			—
Income (Loss) from Continuing Operations Before Income Taxes	699			418			270			88			(77		)
Nine Months Ended September 30, 2012
Revenues from Third Parties	$	2,925		$	1,674		$	995		$	121		$	135
Income from Equity Method Investees	137			6			131			—			—
Total Revenues	3,062			1,680			1,126			121			135
DD&A	987			670			196			64			57
Gain on Divestitures (1)	(167		)	(167		)	—			—			—
Asset Impairments (3)	73			73			—			—			—
(Gain) Loss on Commodity Derivative Instruments (2)	(46		)	(60		)	14			—			—
Income (Loss) from Continuing Operations Before Income Taxes	999			578			767			26			(372		)
Nine Months Ended September 30, 2011
Revenues from Third Parties	$	2,361		$	1,578		$	401		$	236		$	146
Income from Equity Method Investees	146			—			146			—			—
Total Revenues	2,507			1,578			547			236			146
DD&A	619			534			30			19			36
Gain on Divestitures (1)	(26		)	(1		)	—			—			(25		)
Asset Impairments (3)	137			137			—			—			—
Gain on Commodity Derivative Instruments (2)	(179		)	(163		)	(16		)	—			—
Income (Loss) from Continuing Operations Before Income Taxes	1,024			631			460			184			(251		)
September 30, 2012
Goodwill	$	635		$	635		$	—		$	—		$	—
Total Assets	16,787			11,014			2,782			2,443			548
December 31, 2011
Goodwill	696			696			—			—			—
Total Assets	16,106			11,201			2,728			1,751			426

⁽¹⁾ See Note 3. Acquisitions and Divestitures.

⁽²⁾ See Note 6. Derivative Instruments and Hedging Activities.

⁽³⁾ See Note 4. Asset Impairments.