Properties and Equipment	9 Months Ended
Sep. 30, 2011
Disclosure Text Block [Abstract]
Properties and Equipment	5. Properties and Equipment Suspended Exploratory Drilling Costs The Company's capitalized suspended well costs at September 30, 2011, and December 31, 2010, were $1.2 billion and $935 million, respectively. The increase in suspended exploratory drilling costs during 2011 primarily relates to the capitalization of costs associated with successful exploration drilling in Mozambique, Ghana and Brazil. For the nine months ended September 30, 2011, $32 million of exploratory well costs previously capitalized as suspended well costs for greater than one year were charged to dry hole expense and $116 million of capitalized suspended well costs were reclassified to proved properties. Management believes projects with suspended exploratory drilling costs exhibit sufficient quantities of hydrocarbons to justify potential development and is actively assessing whether reserves can be attributed to these areas. If additional information becomes available that raises substantial doubt regarding the economic or operational viability of any of these projects, the associated costs will be expensed at the time such information becomes available. Impairments Impairment expense for the three and nine months ended September 30, 2011, was $183 million and $287 million, respectively. During the third quarter of 2011, the Company recognized impairments of $93 million related to United States offshore properties and $87 million related to the Company's investment in Venezuelan assets due to changes in expected recoverable reserves in these areas. At September 30, 2011, the Company's after-tax net investment in the Venezuelan assets was $38 million. During the second quarter of 2011, the Company recognized impairments of $100 million related to United States onshore properties due to a change in projected cash flows resulting from the Company's intent to divest of the properties. All of these assets are included in the oil and gas exploration and production operating segment and were impaired to fair value, estimated using Level 3 fair-value inputs. Impairment expense for the three and nine months ended September 30, 2010, was $20 million and $147 million, respectively, including $114 million recognized in the second quarter of 2010 related to a production platform included in the oil and gas exploration and production operating segment that remains idle with no identifiable plans for use, and for which a limited market currently exists. The platform was impaired to fair value, estimated using Level 3 fair-value inputs. Assets Held for Sale During the third quarter of 2011, the Company began marketing certain onshore domestic properties from both the oil and gas exploration and production operating segment and the other midstream operating segment in order to redirect its operating activities and capital to other areas. At September 30, 2011, net properties and equipment, goodwill and other intangible assets, and other long-term liabilities on the Company's Consolidated Balance Sheets included $273 million, $42 million, and $6 million, respectively, associated with assets held for sale. The Company also recognized losses on assets held for sale of $268 million related to oil and gas exploration and production operating segment properties and $31 million related to other midstream operating segment properties. The assets were impaired to fair value, estimated using Level 3 fair-value inputs, with resulting losses included in gains (losses) on divestitures and other, net in the Consolidated Statements of Income for the three and nine months ended September 30, 2011.

Properties and Equipment

9 Months Ended

Sep. 30, 2011

5. Properties and Equipment

Suspended Exploratory Drilling Costs The Company's capitalized suspended well costs at September 30, 2011, and December 31, 2010, were $1.2 billion and $935 million, respectively. The increase in suspended exploratory drilling costs during 2011 primarily relates to the capitalization of costs associated with successful exploration drilling in Mozambique, Ghana and Brazil. For the nine months ended September 30, 2011, $32 million of exploratory well costs previously capitalized as suspended well costs for greater than one year were charged to dry hole expense and $116 million of capitalized suspended well costs were reclassified to proved properties.

Management believes projects with suspended exploratory drilling costs exhibit sufficient quantities of hydrocarbons to justify potential development and is actively assessing whether reserves can be attributed to these areas. If additional information becomes available that raises substantial doubt regarding the economic or operational viability of any of these projects, the associated costs will be expensed at the time such information becomes available.

Impairments Impairment expense for the three and nine months ended September 30, 2011, was $183 million and $287 million, respectively. During the third quarter of 2011, the Company recognized impairments of $93 million related to United States offshore properties and $87 million related to the Company's investment in Venezuelan assets due to changes in expected recoverable reserves in these areas. At September 30, 2011, the Company's after-tax net investment in the Venezuelan assets was $38 million. During the second quarter of 2011, the Company recognized impairments of $100 million related to United States onshore properties due to a change in projected cash flows resulting from the Company's intent to divest of the properties. All of these assets are included in the oil and gas exploration and production operating segment and were impaired to fair value, estimated using Level 3 fair-value inputs.

Impairment expense for the three and nine months ended September 30, 2010, was $20 million and $147 million, respectively, including $114 million recognized in the second quarter of 2010 related to a production platform included in the oil and gas exploration and production operating segment that remains idle with no identifiable plans for use, and for which a limited market currently exists. The platform was impaired to fair value, estimated using Level 3 fair-value inputs.

Assets Held for Sale During the third quarter of 2011, the Company began marketing certain onshore domestic properties from both the oil and gas exploration and production operating segment and the other midstream operating segment in order to redirect its operating activities and capital to other areas. At September 30, 2011, net properties and equipment, goodwill and other intangible assets, and other long-term liabilities on the Company's Consolidated Balance Sheets included $273 million, $42 million, and $6 million, respectively, associated with assets held for sale. The Company also recognized losses on assets held for sale of $268 million related to oil and gas exploration and production operating segment properties and $31 million related to other midstream operating segment properties. The assets were impaired to fair value, estimated using Level 3 fair-value inputs, with resulting losses included in gains (losses) on divestitures and other, net in the Consolidated Statements of Income for the three and nine months ended September 30, 2011.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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