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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2018
Segment Information [Abstract]  
Summary of Financial Information for Company's Reportable Segments







 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



E&P

 

Midstream

 

Other

 

Total



(in millions)

Three months ended September 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 639 

 

$

 312 

 

$

–  

 

$

 951 

Intersegment revenues

 

 (6)

 

 

 600 

 

 

–  

 

 

 594 

Depreciation, depletion and amortization expense

 

 140 

 

 

 11 

 

 

–  

 

 

 151 

Impairments

 

 15 

 

 

 145 

 

 

 1 

 

 

 161 

Operating income (loss)

 

 175 

(1)

 

 (108)

 

 

 (1)

 

 

 66 

Interest expense (2)

 

 29 

 

 

–  

 

 

–  

 

 

 29 

Loss on derivatives

 

 (65)

 

 

–  

 

 

–  

 

 

 (65)

Other loss, net

 

–  

 

 

 (1)

 

 

–  

 

 

 (1)

Assets

 

 5,732 

(3)

 

 1,115 

(4)

 

 211 

(5)

 

 7,058 

Capital investments (6)

 

 295 

 

 

–  

 

 

 3 

 

 

 298 



 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 476 

 

$

 261 

 

$

–  

 

$

 737 

Intersegment revenues

 

 (6)

 

 

 473 

 

 

–  

 

 

 467 

Depreciation, depletion and amortization expense

 

 120 

 

 

 15 

 

 

–  

 

 

 135 

Operating income

 

 64 

 

 

 46 

 

 

–  

 

 

 110 

Interest expense (2)

 

 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 (2)

 

 (14)

 

 

–  

 

 

–  

 

 

 (14)

Assets

 

 4,842 

 

 

 1,240 

 

 

 1,120 

(5)

 

 7,202 

Capital investments (6)

 

 320 

 

 

 9 

 

 

 2 

 

 

 331 







 

 

 

 

 

 

 

 

 

 

 



E&P

 

Midstream

 

Other

 

Total



(in millions)

Nine months ended September 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 1,809 

 

$

 878 

 

$

–  

 

$

 2,687 

Intersegment revenues

 

 (19)

 

 

 1,727 

 

 

–  

 

 

 1,708 

Depreciation, depletion and amortization expense

 

 383 

 

 

 53 

(7)

 

–  

 

 

 436 

Impairments

 

 15 

 

 

 145 

 

 

 1 

 

 

 161 

Operating income (loss)

 

 510 

(1)

 

 (64)

(8)

 

 (1)

 

 

 445 

Interest expense (2)

 

 100 

 

 

–  

 

 

–  

 

 

 100 

Loss on derivatives

 

 (108)

 

 

–  

 

 

–  

 

 

 (108)

Loss on early extinguishment of debt

 

–  

 

 

–  

 

 

 (8)

 

 

 (8)

Other income (loss), net

 

 3 

 

 

 (2)

 

 

–  

 

 

 1 

Assets

 

 5,732 

(3)

 

 1,115 

(4)

 

 211 

(5)

 

 7,058 

Capital investments (6)

 

 1,025 

 

 

 9 

 

 

 5 

 

 

 1,039 



 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 1,573 

 

$

 821 

 

$

–  

 

$

 2,394 

Intersegment revenues

 

 (14)

 

 

 1,593 

 

 

–  

 

 

 1,579 

Depreciation, depletion and amortization expense

 

 317 

 

 

 47 

 

 

–  

 

 

 364 

Operating income

 

 435 

 

 

 129 

 

 

–  

 

 

 564 

Interest expense (2)

 

 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 (2)

 

 (14)

 

 

–  

 

 

–  

 

 

 (14)

Assets

 

 4,842 

 

 

 1,240 

 

 

 1,120 

(5)

 

 7,202 

Capital investments (6)

 

 921 

 

 

 21 

 

 

 4 

 

 

 946 



(1)

Operating income for the E&P segment includes $2 million and $18 million related to restructuring charges for the three and nine months ended September 30, 2018.



(2)

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



(3)

E&P assets includes $106 million of assets held for sale at September 30, 2018.



(4)

Midstream assets includes $738  million of assets held for sale at September 30, 2018.



(5)

Other assets represent corporate assets not allocated to segments and assets for non-reportable segments.  At September 30, 2018, other assets included approximately $9 million in cash and cash equivalents.  At September 30, 2017, other assets included approximately $989 million in cash and cash equivalents.



(6)

Capital investments include decreases of $31 million and $2 million for the three months ended September 30, 2018 and 2017, respectively, and an increase of $21 million and a decrease of $13 million for the nine months ended September 30, 2018 and 2017, respectively, relating to the change in capital accruals between periods.



(7)

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



(8)

Operating loss for the Midstream segment includes a $10 million impairment related to certain non-core gathering assets and $2 million related to restructuring charges for the nine months ended September 30, 2018.