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Consolidated Statements of Operations (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues      
Oil, Gas and NGL Sales $ 4,809 $ 4,037 $ 3,179
Income from Equity Method Investees 206 186 193
Other Revenues 0 0 32 [1]
Total Revenues 5,015 4,223 3,404
Costs and Expenses      
Production Expense 850 673 558
Exploration Expense 415 409 277
Depreciation, Depletion and Amortization 1,568 1,370 878
General and Administrative 433 384 339
Gain on Divestitures (36) (154) (25)
Asset Impairments 86 104 757
Other Operating (Income) Expense, Net 43 25 86
Total Operating Expenses 3,359 2,811 2,870
Operating Income 1,656 1,412 534
Other (Income) Expense      
(Gain) Loss on Commodity Derivative Instruments 133 (75) (42)
Interest, Net of Amount Capitalized 158 125 65
Other Non-Operating (Income) Expense, Net 21 6 9
Total Other (Income) Expense 312 56 32
Income from Continuing Operations Before Income Taxes 1,344 1,356 502
Income Tax Provision 437 391 90
Income from Continuing Operations 907 965 412
Discontinued Operations, Net of Tax 71 62 41
Net Income $ 978 $ 1,027 $ 453
Earnings Per Share, Basic      
Income from Continuing Operations (in dollars per share) $ 2.53 $ 2.71 $ 1.17
Discontinued Operations, Net of Tax (in dollars per share) $ 0.19 $ 0.18 $ 0.11
Net Income (in dollars per share) $ 2.72 $ 2.89 $ 1.28
Earnings Per Share, Diluted      
Income from Continuing Operations (in dollars per share) $ 2.50 $ 2.68 $ 1.15
Discontinued Operations, Net of Tax (in dollars per share) $ 0.19 $ 0.18 $ 0.12
Net Income (in dollars per share) $ 2.69 $ 2.86 $ 1.27
Weighted Average Number of Shares Outstanding, Basic (in shares) 359 356 353
Weighted Average Number of Shares Outstanding, Diluted (in shares) 363 359 357
[1] Other revenues consist primarily of electricity sales from the Machala power plant, located in Machala, Ecuador, through May 2011. Electricity generation expense includes all operating and non-operating expenses associated with the plant, including depreciation and changes in the allowance for doubtful accounts. In May 2011, we transferred our assets in Ecuador to the Ecuadorian government.