Natural Gas And Oil Producing Acitivities (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Natural Gas And Oil Producing Activities (Unaudited) [Abstract]

Capitalized Costs Relating To Oil And Gas Producing Activities Disclosure

	2014			2013
	(in millions)
Proved properties	$	15,860		$	12,337
Unproved properties		4,646	(1)		957	(1)
Total capitalized costs		20,506	(2)		13,294
Less:  Accumulated depreciation, depletion and amortization		8,327			7,481
Net capitalized costs	$	12,179		$	5,813

⁽¹⁾ Includes $76 million and $72 million related to the Company’s exploration program in Canada as of December 31, 2014 and 2013, respectively.

⁽²⁾ Includes approximately $5.0 billion related to the Chesapeake Property Acquisition.

Schedule Of Capitalized Costs Of Unproved Properties Excluded From Amortization

	2014		2013		2012		Prior		Total
	(in millions)
Property acquisition costs	$	3,892	$	87	$	75	$	142	$	4,196	(1)
Exploration and development costs		239		40		26		61		366	(1)
Capitalized interest		13		10		14		47		84	(1)
	$	4,144	$	137	$	115	$	250	$	4,646

⁽¹⁾ Property acquisition costs include $36 million, exploration costs include $31 million and capitalized interest includes $9 million related to the Company’s exploration program in Canada.

Cost Incurred In Oil And Gas Property Acquisition, Exploration, And Development Activities Disclosure

	2014		2013		2012
	(in millions, except per Mcfe amounts)
Proved property acquisition costs	$	1,455	$	1	$	–
Unproved property acquisition costs (1)		3,934		168		221
Exploration costs(2)		232		192		197
Development costs		1,600		1,662		1,493
Capitalized costs incurred		7,221		2,023		1,911
Full cost pool amortization per Mcfe	$	1.10	$	1.08	$	1.31

⁽¹⁾ Includes $1 million, $17 million and $4 million, in 2014, 2013 and 2012, respectively, related to the Company’s exploration program in Canada.

⁽²⁾ Includes $3 million, $12 million and $3 million in 2014, 2013 and 2012, respectively, related to the Company’s exploration program in Canada.

Results Of Operations For Oil And Gas Producing Activities Disclosure

	2014		2013		2012
	(in millions)
Sales	$	2,862	$	2,404	$	1,963
Production (lifting) costs		(776)		(629)		(505)
Depreciation, depletion and amortization		(884)		(735)		(765)
Impairment of natural gas and oil properties		–		–		(1,940)
		1,202		1,040		(1,247)
Provision (benefit) for income taxes		457		416		(497)
Results of operations (1)	$	745	$	624	$	(750)

⁽¹⁾ Results of operations exclude the mark-to-market gain or loss on commodity derivative instruments.  See Note 5 Derivatives and Risk Management.

Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities

	2014			2013			2012
	Natural			Natural			Natural
	Gas	Oil	NGL	Gas	Oil	NGL	Gas	Oil	NGL
	(Bcf)	(MBbls)	(MBbls)	(Bcf)	(MBbls)	(MBbls)	(Bcf)	(MBbls)	(MBbls)
Proved reserves, beginning of year	6,974	373	–	4,017	244	–	5,887	996	–
Revisions of previous estimates	542	(14)	66	325	38	50	(2,088)	(44)	–
Extensions, discoveries and other additions	1,691	250	48	3,283	229	–	918	154	–
Production	(765)	(235)	(231)	(655)	(138)	(50)	(564)	(83)	–
Acquisition of reserves in place	1,367	37,246	118,816	4	–	–	–	–	–
Disposition of reserves in place	–	(5)	–	–	–	–	(136)	(779)	–
Proved reserves, end of year	9,809	37,615	118,699	6,974	373	–	4,017	244	–
Proved developed reserves:
Beginning of year	4,237	372	–	3,196	243	–	3,254	983	–
End of year	5,675	7,445	38,632	4,237	372	–	3,196	243	–
Proved undeveloped reserves:
Beginning of year	2,737	1	–	821	1	–	2,633	13	–
End of year	4,134	30,170	80,067	2,737	1	–	821	1	–

Standardized Measure Of Discounted Future Cash Flows Relating To Proved Reserves Disclosure

	2014		2013		2012
	(in millions)
Future cash inflows	$	41,812	$	22,624	$	9,570
Future production costs		(16,477)		(8,896)		(4,737)
Future development costs		(5,750)		(3,626)		(711)
Future income tax expense		(4,743)		(3,223)		(745)
Future net cash flows		14,842		6,879		3,377
10% annual discount for estimated timing of cash flows		(7,299)		(3,143)		(1,326)
Standardized measure of discounted future net cash flows	$	7,543	$	3,736	$	2,051

Schedule Of Analysis Of Changes In Standardized Measure

	2014		2013		2012
	(in millions)
Standardized measure, beginning of year	$	3,736	$	2,051	$	3,451
Sales and transfers of natural gas and oil produced, net of production costs		(2,084)		(1,774)		(1,444)
Net changes in prices and production costs		1,192		1,853		(2,605)
Extensions, discoveries, and other additions, net of future production and development costs		1,049		1,454		550
Acquisition of reserves in place		1,897		5		–
Sales of reserves in place		–		–		(157)
Revisions of previous quantity estimates		622		349		(1,109)
Accretion of discount		513		232		480
Net change in income taxes		(522)		(1,120)		1,079
Changes in estimated future development costs		110		(196)		2,476
Previously estimated development costs incurred during the year		815		223		62
Changes in production rates (timing) and other		215		659		(732)
Standardized measure, end of year	$	7,543	$	3,736	$	2,051