Derivatives And Risk Management (Tables)

6 Months Ended

Jun. 30, 2015

Derivatives And Risk Management [Abstract]

Balance Sheet Classification Of Derivative Financial Instruments

	Derivative Assets
	June 30, 2015			December 31, 2014
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
	(in millions)
Derivatives designated as hedging instruments:
Fixed price swaps	Derivative assets	$	91	Derivative assets	$	165
Total derivatives designated as hedging instruments		$	91		$	165
Derivatives not designated as hedging instruments:
Basis swaps	Derivative assets	$	4	Derivative assets	$	9
Fixed price swaps	Derivative assets		90	Derivative assets		163
Basis swaps	Other long-term assets		–	Other long-term assets		1
Interest rate swaps	Other long-term assets		1	Other long-term assets		1
Total derivatives not designated as hedging instruments		$	95		$	174
Total derivative assets		$	186		$	339
	Derivative Liabilities
	June 30, 2015			December 31, 2014
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
	(in millions)
Derivatives not designated as hedging instruments:
Basis swaps	Derivative liabilities	$	4	Derivative liabilities	$	4
Fixed price call options	Derivative liabilities		3	Derivative liabilities		2
Interest rate swaps	Derivative liabilities		2	Derivative liabilities		3
Basis swaps	Other long-term liabilities		–	Other long-term liabilities		2
Fixed price call options	Other long-term liabilities		2	Other long-term liabilities		10
Interest rate swaps	Other long-term liabilities		2	Other long-term liabilities		2
Total derivatives not designated as hedging instruments		$	13		$	23
Total derivative liabilities		$	13		$	23

Schedule Of Derivative Instruments, Volumes Of Natural Gas Production

Year	Fixed price swaps designated for hedge accounting	Fixed price swaps not designated for hedge accounting	Total	Weighted Average Swap Price ($/MMBtu) (1)
2015	61	60	121	$4.40

⁽¹⁾ The weighted average swap price is $4.40 for each category and in total.

Summary Of Before Tax Effect Of Cash Flow Hedges On Consolidated Financial Statements

		Gain (Loss) Recognized in Other Comprehensive Loss
		(Effective Portion)
		For the three months ended				For the six months ended
		June 30,				June 30,
Derivative Instrument		2015		2014		2015		2014
		(in millions)
Fixed price swaps		$	(3)	$	9	$	21	$	(81)
	Classification of Gain (Loss)	Gain (Loss) Reclassified from Accumulated
	Reclassified from	Other Comprehensive Income
	Accumulated Other	into Earnings (Effective Portion)
	Comprehensive Income	For the three months ended				For the six months ended
	into Earnings	June 30,				June 30,
Derivative Instrument	(Effective Portion)	2015		2014		2015		2014
		(in millions)
Fixed price swaps	Gas sales	$	53	$	(25)	$	95	$	(67)

Summary Of Before Tax Effect Of Fair Value Hedges Not Designated For Hedge Accounting

		Gain (Loss) on Derivatives
		Excluding Derivatives, Settled
		Recognized in Earnings
	Consolidated Statement of Operations	For the three months ended				For the six months ended
	Classification of Gain (Loss) on	June 30,				June 30,
Derivative Instrument	Derivatives, Net of Settlement	2015		2014		2015		2014
		(in millions)
Basis swaps	Gain (Loss) on Derivatives	$	3	$	(3)	$	(5)	$	(13)
Fixed price call options	Gain (Loss) on Derivatives	$	–	$	4	$	8	$	(23)
Fixed price swaps	Gain (Loss) on Derivatives	$	(55)	$	2	$	(73)	$	(21)
Interest rate swaps	Gain (Loss) on Derivatives	$	2	$	(3)	$	(1)	$	(5)
		Gain (Loss)
		on Derivatives, Settled (1)
		Recognized in Earnings
	Consolidated Statement of Operations	For the three months ended				For the six months ended
	Classification of Gain (Loss)	June 30,				June 30,
Derivative Instrument	on Derivatives, Settled (1)	2015		2014		2015		2014
		(in millions)
Basis swaps	Gain (Loss) on Derivatives	$	–	$	5	$	(6)	$	(10)
Fixed price swaps	Gain (Loss) on Derivatives	$	52	$	(13)	$	94	$	(36)
Interest rate swaps	Gain (Loss) on Derivatives	$	(1)	$	–	$	(2)	$	–

⁽¹⁾ The Company calculates gain (loss) on derivatives, settled, as the summation of gains and losses on positions that have settled within the period reported.