Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2012

Table Text Block [Abstract]

Schedule of Derivative Instruments

				2013
				Settlement
Natural Gas
	Three-Way Collars (thousand MMBtu/d)				—	(1)
	Fixed-Price Contracts (thousand MMBtu/d)				1,185
		Average price per MMBtu		$	4.00
Crude Oil
	Three-Way Collars (MBbls/d)				26
		Average price per barrel
			Ceiling sold price (call)	$	125.15
			Floor purchased price (put)	$	105.00
			Floor sold price (put)	$	85.00
	Fixed-Price Contracts (MBbls/d)				40
		Average price per barrel		$	107.04

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(1)  The Company entered into offsetting purchased and sold natural-gas three-way collars of 450,000 MMBtu/d for 2013 settlement.

MMBtu—million British thermal units

MMBtu/d—million British thermal units per day

MBbls/d—thousand barrels per day

millions except percentages		Reference Period		Weighted-Average
Notional Principal Amount		Start	End	Interest Rate
$	750	June 2014	June 2024	6.00	%
$	1,100	June 2014	June 2044	5.57	%
$	50	September 2016	September 2026	5.91	%
$	750	September 2016	September 2046	5.86	%

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

		Gross				Gross
millions		Derivative Assets				Derivative Liabilities
Balance Sheet Classification		2012		2011		2012		2011
Commodity derivatives
	Other current assets	$	475	$	924	$	(197)	$	(353)
	Other assets		24		150		(7)		(15)
	Accrued expenses		6		5		(14)		(33)
	Other liabilities		1		1		(7)		(17)
			506		1,080		(225)		(418)
Interest-rate and other derivatives
	Accrued expenses		—		—		—		(391)
	Other liabilities		—		—		(1,194)		(808)
			—		—		(1,194)		(1,199)
Total derivatives		$	506	$	1,080	$	(1,419)	$	(1,617)

millions
Classification of (Gain) Loss Recognized		Realized		Unrealized		Total
2012
Commodity derivatives
	Gathering, processing, and marketing sales (1)	$	2	$	16	$	18
	(Gains) losses on derivatives, net		(753)		366		(387)
Interest-rate and other derivatives
	(Gains) losses on derivatives, net		66		(5)		61
Total (gains) losses on derivatives, net		$	(685)	$	377	$	(308)
2011
Commodity derivatives
	Gathering, processing, and marketing sales (1)	$	20	$	(12)	$	8
	(Gains) losses on derivatives, net		(226)		(336)		(562)
Interest-rate and other derivatives
	(Gains) losses on derivatives, net		59		964		1,023
Total (gains) losses on derivatives, net		$	(147)	$	616	$	469
2010
Commodity derivatives
	Gathering, processing, and marketing sales (1)	$	3	$	(4)	$	(1)
	(Gains) losses on derivatives, net		(498)		(395)		(893)
Interest-rate and other derivatives
	(Gains) losses on derivatives, net		—		285		285
Total (gains) losses on derivatives, net		$	(495)	$	(114)	$	(609)

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(1)  Represents the effect of marketing and trading derivative activities.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

millions			Level 1		Level 2		Level 3		Netting (1)		Collateral		Total
December 31, 2012
Assets
	Commodity derivatives
		Financial institutions	$	6	$	453	$	—	$	(206)	$	—	$	253
		Other counterparties		—		47		—		(5)		—		42
Total derivative assets			$	6	$	500	$	—	$	(211)	$	—	$	295
Liabilities
	Commodity derivatives
		Financial institutions	$	(6)	$	(202)	$	—	$	206	$	1	$	(1)
		Other counterparties		—		(17)		—		5		—		(12)
	Interest-rate and other derivatives			—		(1,194)		—		—		—		(1,194)
Total derivative liabilities			$	(6)	$	(1,413)	$	—	$	211	$	1	$	(1,207)
December 31, 2011
Assets
	Commodity derivatives
		Financial institutions	$	3	$	947	$	—	$	(361)	$	(52)	$	537
		Other counterparties		—		130		—		(13)		—		117
Total derivative assets			$	3	$	1,077	$	—	$	(374)	$	(52)	$	654
Liabilities
	Commodity derivatives
		Financial institutions	$	(4)	$	(375)	$	—	$	361	$	7	$	(11)
		Other counterparties		—		(39)		—		13		—		(26)
	Interest-rate and other derivatives			—		(1,199)		—		—		130		(1,069)
Total derivative liabilities			$	(4)	$	(1,613)	$	—	$	374	$	137	$	(1,106)

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(1) Represents the impact of netting commodity derivative assets and liabilities with counterparties where the Company has the contractual right and intends to net settle.