Segment Information (Tables)

6 Months Ended

Jun. 30, 2018

Summary of Financial Information for Company's Reportable Segments



	E&P			Midstream			Other			Total
	(in millions)
Three months ended June 30, 2018:
Revenues from external customers	$	527		$	289		$	–		$	816
Intersegment revenues		(7)			508			–			501
Depreciation, depletion and amortization expense		126			16			–			142
Operating income		97	(1)		27	(2)		–			124
Interest expense (3)		32			–			–			32
Loss on derivatives		(36)			–			–			(36)
Loss on early extinguishment of debt		–			–			(8)			(8)
Other income, net		3			–			–			3
Assets		5,583			1,228			231	(4)		7,042
Capital investments (5)		396			5			2			403

Three months ended June 30, 2017:
Revenues from external customers	$	531		$	280		$	–		$	811
Intersegment revenues		(5)			542			–			537
Depreciation, depletion and amortization expense		107			16			–			123
Operating income		146			42			–			188
Interest expense (3)		34			–			–			34
Gain on derivatives		134			–			–			134
Loss on early extinguishment of debt		–			–			(10)			(10)
Other income, net		2			4			–			6
Assets		4,633			1,281			1,236	(4)		7,150
Capital investments (5)		318			6			1			325


	E&P			Midstream			Other			Total
	(in millions)
Six months ended June 30, 2018:
Revenues from external customers	$	1,170		$	566		$	–		$	1,736
Intersegment revenues		(13)			1,127			–			1,114
Depreciation, depletion and amortization expense		243			42	(6)		–			285
Operating income		335	(1)		44	(2)		–			379
Interest expense (3)		71			–			–			71
Gain on derivatives		(43)			–			–			(43)
Loss on early extinguishment of debt		–			–			(8)			(8)
Other income (loss), net		3			(1)			–			2
Assets		5,583			1,228			231	(4)		7,042
Capital investments (5)		730			9			2			741

Six months ended June 30, 2017:
Revenues from external customers	$	1,097		$	560		$	–		$	1,657
Intersegment revenues		(8)			1,120			–			1,112
Depreciation, depletion and amortization expense		197			32			–			229
Operating income		371			83			–			454
Interest expense (3)		66			–			–			66
Gain on derivatives		250			–			–			250
Loss on early extinguishment of debt		–			–			(11)			(11)
Other income, net		4			4			–			8
Assets		4,633			1,281			1,236	(4)		7,150
Capital investments (5)		601			12			2			615

(1)

Operating income for the E&P segment includes $16 million related to restructuring charges for the three and six months ended June 30, 2018.

(2)

Operating income for the Midstream segment includes $2 million related to restructuring charges for the three and six months ended June 30, 2018.

(3)

Interest expense by segment is 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 June 30, 2018 and 2017, other assets includes approximately $37 million and $1.1 billion in cash and cash equivalents, respectively.

(5)

Capital investments include increases of $19 million and $41 million for the three months ended June 30, 2018 and 2017, respectively, and an increase of $52 million and a decrease of $11 million for the six months ended June 30, 2018 and 2017, respectively, relating to the change in capital accruals between periods.

(6)

Includes a $10 million impairment related to certain non-core gathering assets.