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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2017
Segment Information [Abstract]  
Summary Of Financial Information For Company's Reportable Segments



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



Exploration and Production

 

Midstream Services

 

Other

 

Total



(in millions)

Three months ended September 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 475 

 

$

 262 

 

$

–  

 

$

 737 

Intersegment revenues

 

 (5)

 

 

 472 

 

 

–  

 

 

 467 

Depreciation, depletion and amortization expense

 

 120 

 

 

 15 

 

 

–  

 

 

 135 

Operating income

 

 64 

 

 

 46 

 

 

–  

 

 

 110 

Interest expense (1)

 

 31 

 

 

–  

 

 

–  

 

 

 31 

Gain on derivatives

 

 45 

 

 

–  

 

 

–  

 

 

 45 

Loss on early extinguishment of debt

 

–  

 

 

–  

 

 

 (59)

 

 

 (59)

Other income (loss), net

 

 1 

 

 

 (3)

 

 

–  

 

 

 (2)

Benefit for income taxes (1)

 

 (14)

 

 

–  

 

 

–  

 

 

 (14)

Assets

 

 4,842 

 

 

 1,240 

 

 

 1,120 

(2)

 

 7,202 

Capital investments (3)

 

 320 

 

 

 9 

 

 

 2 

 

 

 331 



 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 2016:

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 381 

 

$

 270 

 

$

–  

 

$

 651 

Intersegment revenues

 

 (3)

 

 

 412 

 

 

–  

 

 

 409 

Depreciation, depletion and amortization expense

 

 83 

 

 

 16 

 

 

–  

 

 

 99 

Impairment of natural gas and oil properties

 

 817 

 

 

–  

 

 

–  

 

 

 817 

Operating income (loss)

 

 (777)

(4)

 

 52 

 

 

–  

 

 

 (725)

Interest expense (1)

 

 26 

 

 

 –  

 

 

–  

 

 

 26 

Gain on derivatives

 

 71 

 

 

–  

 

 

–  

 

 

 71 

Loss on early extinguishment of debt

 

–  

 

 

–  

 

 

 (51)

 

 

 (51)

Other income, net

 

 2 

 

 

 1 

 

 

 –  

 

 

 3 

Benefit for income taxes (1)

 

 (20)

 

 

–  

 

 

–  

 

 

 (20)

Assets

 

 4,015 

 

 

 1,253 

 

 

 1,622 

(2)

 

 6,890 

Capital investments (3)

 

 179 

 

 

 1 

 

 

 –  

 

 

 180 









 

 

 

 

 

 

 

 

 

 

 



Exploration and Production

 

Midstream Services

 

Other

 

Total



(in millions)

Nine months ended September 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 1,572 

 

$

 822 

 

$

–  

 

$

 2,394 

Intersegment revenues

 

 (13)

 

 

 1,592 

 

 

–  

 

 

 1,579 

Depreciation, depletion and amortization expense

 

 317 

 

 

 47 

 

 

–  

 

 

 364 

Operating income

 

 435 

 

 

 129 

 

 

–  

 

 

 564 

Interest expense (1)

 

 97 

 

 

–  

 

 

–  

 

 

 97 

Gain on derivatives

 

 295 

 

 

–  

 

 

–  

 

 

 295 

Loss on early extinguishment of debt

 

–  

 

 

–  

 

 

 (70)

 

 

 (70)

Other income, net

 

 5 

 

 

 1 

 

 

 –  

 

 

 6 

Benefit for income taxes(1)

 

 (14)

 

 

–  

 

 

–  

 

 

 (14)

Assets

 

 4,842 

 

 

 1,240 

 

 

 1,120 

(2)

 

 7,202 

Capital investments (3)

 

 921 

 

 

 21 

 

 

 4 

 

 

 946 



 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 2016:

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 1,015 

 

$

 737 

 

$

–  

 

$

 1,752 

Intersegment revenues

 

 (17)

 

 

 1,125 

 

 

–  

 

 

 1,108 

Depreciation, depletion and amortization expense

 

 300 

 

 

 49 

 

 

–  

 

 

 349 

Impairment of natural gas and oil properties

 

 2,321 

 

 

–  

 

 

–  

 

 

 2,321 

Operating income (loss)

 

 (2,486)

(4)

 

 169 

(5)

 

–  

 

 

 (2,317)

Interest expense (1)

 

 56 

 

 

 1 

 

 

–  

 

 

 57 

Loss on derivatives

 

 (27)

 

 

 (1)

 

 

–  

 

 

 (28)

Loss on early extinguishment of debt

 

–  

 

 

–  

 

 

 (51)

 

 

 (51)

Other income (loss), net

 

 3 

 

 

 (2)

 

 

 (1)

 

 

 –  

Benefit for income taxes

 

 (20)

 

 

–  

 

 

–  

 

 

 (20)

Assets

 

 4,015 

 

 

 1,253 

 

 

 1,622 

(2)

 

 6,890 

Capital investments (3)

 

 372 

 

 

 3 

 

 

 1 

 

 

 376 

(1)

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

(2)

Other assets represent corporate assets not allocated to segments and assets for non-reportable segments.  At September 30, 2017 and 2016, other assets includes approximately $989 million and $1.5 billion in cash and cash equivalents, respectively.

(3)

Capital investments includes a decrease of $2 million and an increase of $27 million for the three months ended September 30, 2017 and 2016, respectively, and decreases of $13 million and $24 million for the nine months ended September 30, 2017 and 2016, respectively, relating to the change in capital accruals between periods.

(4)

Operating income (loss) for the E&P segment includes $2 million and $74 million related to restructuring charges for the three and nine months ended September 30, 2016, respectively.

(5)

Operating income (loss) for the Midstream services segment includes $3 million related to restructuring charges for the nine months ended September 30, 2016.