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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2016
Segment Information [Abstract]  
Summary Financial Information For Company's Reportable Segments









 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Exploration and

 

Midstream

 

 

 

 

 

 



 

Production

 

Services

 

Other

 

Total



 

(in millions)

Three months ended March 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

 

$

 343 

 

$

 236 

 

$

– 

 

$

 579 

Intersegment revenues

 

 

 (7)

 

 

 385 

 

 

– 

 

 

 378 

Depreciation, depletion and amortization expense

 

 

 127 

 

 

 16 

 

 

– 

 

 

 143 

Impairment of natural gas and oil properties

 

 

 1,034 

 

 

– 

 

 

– 

 

 

 1,034 

Operating income (loss)

 

 

 (1,160)

(1)

 

 60 

(2)

 

– 

 

 

 (1,100)

Interest expense (3)

 

 

 14 

 

 

– 

 

 

– 

 

 

 14 

Other loss, net

 

 

 (2)

 

 

 (1)

 

 

– 

 

 

 (3)

Loss on derivatives

 

 

 (13)

 

 

 (1)

 

 

– 

 

 

 (14)

Provision for income taxes (3)

 

 

 1 

 

 

– 

 

 

– 

 

 

 1 

Assets

 

 

 5,538 

 

 

 1,220 

 

 

 1,760 

 (4)

 

 8,518 

Capital investments (5)

 

 

 120 

 

 

 2 

 

 

– 

 

 

 122 



 

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

 

$

 660 

 

$

 273 

 

$

–  

 

$

 933 

Intersegment revenues

 

 

 (5)

 

 

 665 

 

 

 1 

 

 

 661 

Depreciation, depletion and amortization expense

 

 

 278 

 

 

 15 

 

 

–  

 

 

 293 

Operating income (loss)

 

 

 78 

 

 

 88 

 

 

 (1)

 

 

 165 

Interest expense (3)

 

 

 45 

 

 

 7 

 

 

 (1)

 

 

 51 

Other loss, net

 

 

 (1)

 

 

–  

 

 

–  

 

 

 (1)

Gain (loss) on derivatives

 

 

 15 

 

 

–  

 

 

 (1)

 

 

 14 

Provision for income taxes (3)

 

 

 18 

 

 

 31 

 

 

–  

 

 

 49 

Assets

 

 

 13,703 

 

 

 1,616 

 

 

 242 

(4)

 

 15,561 

Capital investments (5)

 

 

 1,030 

 

 

 138 

 

 

 3 

 

 

 1,171 

 

 

 

 

 

 

 

 

 

 

 

 

 



(1)

Operating income (loss) for the E&P segment includes $61 million related to restructuring charges.

(2)

Operating income (loss) for the Midstream segment includes $3 million related to restructuring charges.

(3)

Interest expense and the provision for income taxes by segment are an allocation of corporate amounts as they are incurred at the corporate level.

(4)

Other assets represent corporate assets not allocated to segments and assets for non-reportable segments.  At March 31, 2016, other assets includes $1.55 billion in marketable securities, which were sold on April 1, 2016 to repay revolver debt.  See Note 2 to the unaudited condensed consolidated financial statements included in this Quarterly Report for additional discussion.

(5)

Capital investments includes a  $78 million decrease and an immaterial increase for the three months ended March 31, 2016 and 2015, respectively, relating to the change in accrued expenditures between periods.  E&P capital for the three month period ended March 31, 2015 includes approximately $534 million related to the WPX Property and Statoil Property Acquisitions.  Midstream capital for the three months ended March 31, 2015 includes approximately $119 million associated with the intangible asset related to the firm transportation acquired through the WPX Property Acquisition.